[CMB International: Initiates 'Buy' Rating for GigaDevice with Target Price of HK$907] Golden Finance reported that on July 20, CMB International released a research report, initiating a 'Buy' rating for GigaDevice with a target price of HK$907. The firm believes the company is poised to leverage its experience in market share expansion within the NOR Flash sector to achieve rapid growth in both market share and profits during the current round of market share redistribution. The company's deep collaboration with ChangXin is the core support for its DRAM business. CMB International forecasts GigaDevice's total revenue for this year and next year to be RMB 25.56 billion and RMB 33.98 billion, respectively, with gross profit margins expected to be 65.3% and 65.8%. Net profit attributable to shareholders is projected to be RMB 13.97 billion and RMB 16.58 billion, with basic EPS estimated at RMB 21.02 and RMB 24.95, respectively. The company is one of the key players in the storage sector in mainland China, and the firm is optimistic about its potential for market share growth amid the capacity substitution wave in niche DRAM and SLC NAND Flash.