CLOSED_MARKET: Jun 05, 16:00:00 HKT
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GIGADEVICE and NIO-SW signed a strategic partnership to co-develop automotive-grade chips for NIO's intelligent electric vehicles.
On May 20th, Hong Kong-listed storage concept stocks experienced price increases, with GigaDevice Innovation (03986.HK) rising by 5.90% and Montage Technology (06890.HK) rising by 1.56%.
CLSA raised its price target on GigaDevice after the memory chip maker reported first-quarter net profit surged 523% year-over-year, driven by strong margins and rising DRAM prices.
GigaDevice announced first-quarter net profit surged 522.8% to RMB 1.461 billion, driven by a global boom in demand for AI-related memory chips.