Changxin Technologies Debuts on STAR Market Up Over 470%
China's DRAM chip maker Changxin Memory Technologies (CXMT) commenced trading on the Shanghai Stock Exchange's STAR Market today with an opening surge of over 470%. The company's market capitalization exceeded 3 trillion yuan.
Chinese memory chip manufacturer Changxin Memory Technologies (CXMT) officially listed on the Shanghai Stock Exchange's STAR Market on July 27, experiencing a significant surge of 471.59% at the opening bell. The stock opened at 49.5 yuan per share, pushing the company's market capitalization to over 3.31 trillion yuan, making it the largest company by market value on the A-share market.
The company raised approximately 57.9 billion yuan (around $7.9 billion USD) in its initial public offering, positioning it as one of the largest IPOs on the A-share market since 2026. The offering price was set at 8.66 yuan per share. Strong investor demand was evident, with nearly all offered shares being subscribed. The overall abandonment rate for online and offline subscriptions was a mere 0.17%.
Founded in 2016 and headquartered in Hefei, Changxin Memory Technologies is a key player in China's effort to advance its domestic semiconductor industry. The company focuses on the design, research and development, production, and sales of dynamic random-access memory (DRAM) chips. Its successful debut underscores the growing importance of domestic chip production in China's technological landscape.