China Life Sells 1.11 Million GigaDevice Shares for 685 Million Yuan

China Life said eight of its asset management plans sold about 1.1092 million shares of GigaDevice on July 8 at prices between 611.46 yuan and 624.61 yuan a share, generating about 685 million yuan in proceeds, according to Jiemian News. The company said seven of the plans were set up with Fullgoal Fund and one with China Asset Management, and the trade was identified as a related-party insurance fund investment because independent director Chen Jie also serves as an independent director of GigaDevice. GigaDevice reported 2025 revenue of 9.2 billion yuan, up 25%, and net profit attributable to shareholders of 1.648 billion yuan, up 49.47%. The company said its stock had risen nearly 14 times over the past two and a half years, but fell after reaching a high of 846.66 yuan on June 29. On July 20, the company said its shares had closed lower by more than 20% over three consecutive trading days; it said there were no major matters or undisclosed information affecting the stock move. GigaDevice also forecast first-half 2026 net profit attributable to shareholders of about 6.9 billion yuan, up about 1,099%, revenue of about 11.5 billion yuan, up about 177%, and non-GAAP net profit of about 4.85 billion yuan, up about 791%.