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GigaDevice Clarifies Stock Surge, Holds Only 1.80% of Changxin Tech on May 26

GateNews

2026-05-26 11:23:26

According to an official statement from GigaDevice on May 26, the company's stock experienced abnormal trading volatility over three consecutive trading days (May 22, 25, and 26), with cumulative daily closing price gains exceeding 20%. The company clarified that it holds only 1.80% of Changxin Technology Group's current total shares, too small to exert significant influence on the company's operational decisions. GigaDevice attributed the stock surge to speculation linking it to Changxin Technology's upcoming initial public offering. The company noted that its investment in Changxin Technology is accounted for as "other equity instrument investments" and that fair value changes from Changxin's IPO will not directly impact GigaDevice's net profit.

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