On July 13th, GigaDevice, recognized as a frontrunner in the storage chip sector, witnessed its stock price plummet to the limit down, closing at RMB 550.8 per share. This marked a significant decline of over 30% from its price on June 30th, causing its total market capitalization to shrink to RMB 386.4 billion. On the same day, the entire storage chip sector, in which GigaDevice operates, experienced a lackluster performance. Shannon Semiconductor saw its stock price hit the limit down, dropping by 20%, while other prominent stocks like Taiji Industry, Demingli, and Deep Technology also reached the limit down, each declining by 10%.

A GigaDevice representative responded to the situation, noting that this stock price adjustment is closely linked to external market conditions. Currently, the decline in GigaDevice's stock price mirrors that of SK Hynix, with both companies experiencing a drop of slightly over 30%. Given that both firms are active in the storage chip industry, their previous upward trends were also notably similar. Addressing market concerns regarding the company's business outlook, the representative emphasized that the performance forecast serves as the most convincing evidence.