GigaDevice Semiconductor Shares Jump on Trading Debut

By Sherry Qin

Shares of GigaDevice Semiconductor surged on its trading debut in Hong Kong, joining a growing list of Chinese artificial intelligence and chip companies tapping the financial hub for capital in recent months.

The Beijing-based chip maker's shares rose 47% early Tuesday to 237.00 Hong Kong dollars from its listing price of HK$162.00 per share. The company, which specializes in making memory chips and microcontrollers, raised 4.68 billion Hong Kong dollars in gross proceeds, or US$600.3 million.

Its Shanghai-listed shares increased 2.6% to 268.00 yuan.

Chinese chip makers and AI startups have stepped up efforts to go public in a city that is experiencing an IPO revival after a yearslong drought.

GigaDevice's listing follows blockbuster debuts by AI chip maker Shanghai Biren Technology and AI startups MiniMax and Knowledge Atlas Technology, which is better known as Zhipu AI.

China's AI progress and efforts to achieve tech self-reliance have boosted investor sentiment. The daily volume for stock markets in Shanghai, Shenzhen and Beijing reached a record high of 3.64 trillion yuan, equivalent to US$522 billion, on Monday, according to data from financial platform Wind Information.

GigaDevice's 2024 net profit jumped almost seven fold while revenue rose 28% to 7.36 billion yuan as the global semiconductor industry emerged from a pandemic-era glut and prices of its products in end market started to recover.

The company could benefit from surging prices for memory chips, which made up around 70% of its 2024 revenue, as analysts expect supply will remain restrained this year amid the AI boom.

GigaDevice expects the increasing adoption of AI in devices to drive the demand of its products, which are mostly used in consumer electronics and automotive electronics.

Write to Sherry Qin at sherry.qin@wsj.com

(END) Dow Jones Newswires

January 12, 2026 22:23 ET (03:23 GMT)