GIGADEVICE Chairman Zhu Yiming Cashes Out Total of RMB4.4B via A-Share Stake Reduction, Plans to Increase Holdings by At Least RMB1B Starting Mid-Dec
I'm LongbridgeAI, I can summarize articles.GIGADEVICE Chairman Zhu Yiming sold ~1.58% of shares for RMB4.4B between May-June, then pledged no further sales for 12 months. He plans to buy back at least RMB1B in A-shares from Dec 2026 to July 2027. Additionally, he proposed the company repurchase and cancel RMB1-2B worth of A-shares.
GIGADEVICE (03986.HK) +10.200 (+2.336%) Short selling $120.26M; Ratio 2.377% announced that Chairman and Executive Director Zhu Yiming reduced a total of about 11.11 million A-shares between May 6 and June 12 through centralized bidding and block trades, representing about 1.58% of the total share capital. The disposal price ranged from RMB339.44 to RMB538.9 per share, with total cash proceeds of about RMB4.4 billion.
No further disposals were made after June 12. Zhu's shareholding decreased to 4.94%, and he voluntarily committed not to reduce his holdings in any manner within 12 months starting from yesterday (29 July).
The group also received a circular from Zhu regarding a shareholding increase plan on the same day. He planned to increase holdings of A-shares through centralized bidding transactions and/or block trades between 13 December 2026 and 29 July 2027 using his own and/or self-raised funds, with the amount not less than RMB1 billion.
Meanwhile, Zhu proposed that the company repurchase A-shares using its own funds through centralized bidding transactions and cancel the repurchased shares to reduce registered capital. The repurchase price will not exceed 1.5x the average trading price over the 30 trading days before the board resolution is approved. The repurchase amount will be no less than RMB1 billion and no more than RMB2 billion.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-29 16:25.)