Svmuu reported that GigaDevice has issued an announcement regarding abnormal stock fluctuations. The company's stock price saw an accumulated deviation of over 20% in closing price increases within three consecutive trading days, constituting an abnormal fluctuation in stock trading. The company recently noticed certain online media reports claiming that its stock is a concept stock related to the initial public offering and listing of CXMT (ChangXin Memory Technologies Inc.).
The company provides the following clarification: As of the disclosure date of this report, the company's shareholding in CXMT accounts for only 1.8% of its current total share capital, a relatively small proportion, and the company cannot exert significant influence over CXMT's production and operation decisions. The company's relevant investment in CXMT is accounted for under the "Other Equity Instruments Investment" category. The fair value changes resulting from CXMT's initial public offering and listing have no direct impact on the company's net profit for the current or future years. (Jinshi)