SHANGHAI, Jan 18, 2026, 08:25 (GMT+8) — Market has closed.
- GigaDevice’s Class A shares on the Shanghai exchange jumped 10% to 280.46 yuan Friday, hitting the daily limit allowed for most A-shares
- Shares of the Hong Kong-listed company climbed 16.7% to HK$272 on Friday, building on their post-listing rally
- Traders are focused on Monday’s reopen and the March 31 earnings date for clearer signals.
GigaDevice Semiconductor’s Class A shares on the Shanghai exchange (603986.SS) surged 10% to close at 280.46 yuan Friday, hitting their daily price limit. Trading volume reached roughly 55 million shares, pushing the stock to the peak of its 52-week range as chip stocks outpaced a weaker market. 1
Mainland markets were closed over the weekend, leaving investors to watch for Monday’s follow-through. Shares of the company listed in Hong Kong (3986.HK) ended Friday up 16.74%, closing at HK$272 after fluctuating between HK$227.20 and HK$272 during the day. 2
Semiconductor stocks stood out in China on Friday, despite the Shanghai Composite index falling 0.26%, according to a report from China News. He Chen, an analyst at CaiXin Securities, pointed to a boom in “AI computing power” as driving a robust rebound in the semiconductor sector. 3
Memory pricing has been a key focus of the bid. TrendForce forecasts conventional DRAM contract prices—those agreed in supply deals rather than daily spot markets—will climb 55%–60% in Q1. This comes as manufacturers divert capacity to server and high-bandwidth memory aimed at AI tasks, squeezing supply in other segments, Shanghai Securities News reported. 4
Outside China, the conversation heats up: rising memory prices might boost chip designers’ pricing power, but prolonged increases risk squeezing device makers and damping end-user demand. The Wall Street Journal highlighted AI-driven demand and tight supply as the main drivers behind the recent surge in memory costs.
GigaDevice has drawn attention since its second listing. According to a filing reported by Shanghai Securities News, the company sold 28.9 million H shares at HK$162 apiece (excluding any over-allotment), with estimated net proceeds around HK$4.611 billion. 5
When GigaDevice went public in Hong Kong on Jan. 13, its shares jumped sharply, attracting momentum buyers amid Beijing’s push for chip self-reliance. Kenny Ng, a strategist at China Everbright Securities International, told Reuters the company “has testing and assembly capabilities, strong earnings, and promising growth prospects.” CEO Zhu Yiming called it a “chip department store.” 6
Investors are zeroing in on Monday, waiting to see if memory and semiconductor stocks will pick up steam again. The big question: will pricing buzz actually lead to more orders and better margins? According to Investing.com, the company’s next earnings report on March 31 could serve as the first real test for this rally story.
But the setup works both ways. If memory prices ease off — or if rising component costs weigh on electronics demand — the trade could reverse sharply. That’s especially true after a limit-up day, which tends to attract a surge of short-term money.
Shanghai and Hong Kong reopen Monday, Jan. 19, marking the next key checkpoint. After that, all eyes move to the March 31 earnings release for signs that pricing tailwinds are showing up in the figures.
