News: GIGADEVICE's profit surged fivefold in its first quarter after going public
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GIGADEVICE Technology Group Co., Ltd. announced its first-quarter performance after going public, with revenue of 4.188 billion yuan, a year-on-year increase of 119%; profit of 1.46 billion yuan, a growth of 523%. The performance growth was driven by the shortage of storage chips and the demand for microcontrollers. The net cash flow from operating activities reached 1.78 billion yuan, an increase of 431% compared to the same period last year. On Thursday, the stock price rose by 5.7%, closing at HKD 504, and the stock price has doubled since its listing
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