Cash out 2.8 billion! Chip industry giant Zhu Yiming makes another move

Is the continuous reduction of holdings by AI chip industry leaders related to the push for the STAR Market?

Recently, a noteworthy news has emerged in the semiconductor industry: Zhu Yiming, Chairman of GigaDevice, plans to reduce his holdings of GigaDevice A-shares by no more than 11.21 million shares. Based on the current stock price, the cash-out could reach 2.8 billion yuan. This veteran in the chip industry, with an annual salary of 7.53 million yuan, is leading another company valued at over 150 billion yuan to pursue a listing on the STAR Market.

According to GigaDevice’s announcement on the evening of April 7, Zhu Yiming, due to personal financial needs, intends to reduce his holdings by a total of no more than 11.21 million shares between April 30, 2026, and July 29, 2026, through centralized bidding and block trades, representing 1.60% of the company’s total share capital. The upper limit for centralized bidding is 7 million shares, and for block trades, 4.21 million shares. The shares to be sold originate from holdings acquired before the IPO and from block trades.

As of April 7, Zhu Yiming directly held 45.75 million GigaDevice A-shares (6.53%), and his concerted action partner, Hong Kong Yingfu De Limited, held 13.05 million shares (1.86%). If this planned reduction is completed, Zhu Yiming will cash out approximately 2.8 billion yuan, with the current stock price near a multi-year high.

It is noteworthy that this is not Zhu Yiming’s first large-scale reduction. In Q4 2019, he sold about 6.39 million shares; between 2020 and 2021, he sold a total of about 3.5% of his holdings.

In the secondary market, GigaDevice’s A-shares have risen from around 235 yuan per share at the beginning of the year to a high of 331.16 yuan on February 24, an increase of over 37% in the interval. Subsequently, the stock price has pulled back. As of the latest report, the stock price is 256.23 yuan per share, with a total market value exceeding 170 billion yuan.

However, institutions generally remain optimistic about the upward cycle of storage. A research report from China Galaxy Securities pointed out that GigaDevice’s performance meets expectations, with DRAM as the core growth engine, but also warned of demand fluctuations and competitive risks. Currently, the average target price among institutions is 363.26 yuan, representing a 45.83% upside from the latest price.

Zhu Yiming, now 54 years old, has served as Chairman of GigaDevice since 2012, with a term ending in December 2027. In 2025, his pre-tax salary is 7.5326 million yuan.

Under his leadership, GigaDevice has experienced a strong rebound after a performance trough: in 2023, net profit attributable to the parent was only 1.61 billion yuan, but in 2024, it surged to 161M yuan, a year-on-year increase of 584%. By 2025, the company’s net profit further increased to 1.1B yuan, a year-on-year growth of 49.47%.