GIGADEVICE Spikes 25%+ after Opening Up on Planned Buyback of Max. RMB2B A Shrs, Chair's Planned Stake Increase
I'm LongbridgeAI, I can summarize articles.GIGADEVICEsurged over 25% following announcements of a planned RMB1-2 billion A-share buyback for cancellation and Chairman Zhu Yiming's commitment to increase his holdings by at least RMB1 billion. The buyback price will not exceed 1.5 times the 30-day average, while the stake increase is scheduled between December 2026 and July 2027.
GIGADEVICE (03986.HK) +99.800 (+23.307%) Short selling $104.09M; Ratio 2.293% opened 14.99% higher today, reaching a high of HKD577. It last stood at HKD536, up 25.18%, with a turnover of 3.0932 million shares, amounting to HKD1.652 billion.
GIGADEVICE announced that its Chairman and Executive Director, Zhu Yiming, proposed to repurchase A-shares through centralized bidding using the company's own funds, and then cancel them to reduce registered capital. The repurchase price will not exceed 1.5 times the average price of the 30 trading days prior to the board's resolution, with a repurchase amount between RMB 1 billion and RMB 2 billion.
In addition, Zhu planned to increase his holdings of A-shares through centralized bidding or block trading between December 13, 2026 and July 29, 2027, using his own and/or self-raised funds, with an increase of no less than RMB1 billion.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-30 16:25.)