Shanghai, Jan 20, 2026, 09:02 (GMT+8) — Premarket
GigaDevice Semiconductor Inc. Class A (603986.SS) is set to draw attention at Tuesday’s open following the chip designer’s announcement of a completed change to its registered and share capital linked to equity incentives. The stock ended Monday up 2.85% at 288.45 yuan, having traded between 278.88 and 292.00 yuan during the session.
Timing is key here, as investors are betting on a “tight supply” narrative for older, widely used memory chips. A Morgan Stanley research note, referenced by China’s Kechuang Board Daily, predicts DDR4 — the common DRAM type in PCs and servers — could jump up to 50% in Q1. Meanwhile, NOR flash — the non-volatile memory that holds device boot code — might climb 20%–30%. CLS
GigaDevice’s shares have jumped roughly 14% in the last three sessions. On Monday, trading volume hit around 13.2 billion yuan, data from Sina Finance shows.
The filing showed total share capital rose to 667,277,972 shares from 664,124,105, driven by option exercises and the cancellation of a small batch of restricted stock from previous incentive plans. Registered capital in China aligns with share capital for many listed companies, as it’s the figure recorded with local regulators.
The current buying spree isn’t only about chips; access and liquidity play a role too. GigaDevice raised HK$4.68 billion when it listed H shares in Hong Kong on Jan. 13. Its debut saw strong demand, Reuters reported, which has put more focus on the Shanghai operation.
In the upcoming session, traders will watch closely to see if higher memory prices actually appear in contracts and spot quotes, instead of just lingering in research notes and headlines. The changes to equity-incentive shares aren’t huge, but they do keep share-count calculations and potential supply concerns in play after the recent sharp move.
That said, the setup works both ways. If supply ramps up faster than anticipated or demand for phones, PCs, and autos weakens, pricing power could evaporate fast — sending high-flying China chip stocks sharply lower on profit-taking.
The next key date is the company’s 2025 annual report, set for March 31, per Eastmoney’s stock calendar. Before that, the focus shifts to the tape—will buyers hold the recent highs when cash trading kicks off at 9:30 a.m. in Shanghai?
