汇丰：兆易创新-最新研究

19 June 2025 Equity Research Report Gigadevice Semiconductor (603986 CH) Buy: Unlocking the DRAM potential Positives are not fully priced in. Gigadevice's (GD) share price increased 11% in the past two months (CSI 300 up 3% over the same period); we attribute this positive performance to the recent price increase of DDR4 due to the exit of key suppliers. We expect further upside to the share price as we see more favourable supply- demand dynamics for specialty DRAM. We think the 3D DRAM business will be ano ...