changxin

According to reports from China News Service, multiple South Korean media outlets believe that the recent sharp decline in the stock market is interpreted as a shock from the listing of China's largest semiconductor company, Changxin Technology. The market is worried that Changxin Technology will use the funds raised from its stock market listing to catch up with semiconductor companies like Samsung Electronics and SK Hynix, and this concern has spread, leading to a setback in investor sentiment.According to a previous report by CNBC, Z-Ben Advisors analyst Peter Alexander believes that, referencing the development paths of the steel and new energy vehicle industries, Changxin Technology will quickly seize market share in the low-end memory chip market and ultimately shake the monopoly positions of Samsung Electronics, SK Hynix, and Micron Technology in the global memory industry.

According to the official announcement, Websea has officially launched the perpetual contract trading related to Changxin Technology in the Tradfi section today at 18:00 (UTC+8). As a digital asset trading platform for global users, Websea continues to enrich the selection of popular market targets and derivative trading options.This launch will provide users who are interested in the domestic storage chip sector and related market trends with a more flexible two-way trading entry. In the future, Websea will also continue to pay attention to global hot asset dynamics and continuously expand more high-quality trading targets to meet users' diversified trading needs.

According to a report by Yicai, MSCI announced that Changxin Technology will be included in the MSCI China All Shares Index due to the listing of its IPO new shares, effective August 10.The MSCI China All Shares Index is a comprehensive Chinese stock index compiled by MSCI, covering all categories of Chinese-related stocks, including large-cap and mid-cap stocks listed on the Shanghai and Shenzhen exchanges, Hong Kong-listed companies, and overseas-listed Chinese stocks (such as US ADRs), fully reflecting investment opportunities in Chinese stocks. It is tracked by many global ETFs and passive funds, and the inclusion of Changxin may bring in passive capital inflows.

According to public information and related disclosure documents, Kong Jianping indirectly holds approximately 18.98 million shares of Changxin Technology through Yifang Changda Fund (with a subscription of 21.34 million yuan). Based on the opening price of 49.5 yuan on that day, the corresponding market value of the shares is approximately 940 million yuan, and the estimated return is about 44 times according to related statements.Kong Jianping stated that when he invested in Changxin in 2020, the company's valuation was less than 20 billion yuan, and it has now exceeded 3 trillion yuan.

According to the Bloomberg Billionaires Index, after the IPO of Changxin Technology, CEO Zhu Yiming's wealth surged by nearly 300%, reaching $13.9 billion.In the company's IPO prospectus in May, Zhu Yiming promised to transfer 767.9 million shares for an employee incentive plan. After the stock price of Changxin Technology soared 466% on its first day of trading, the value of these shares has reached $5.6 billion. In other words, 40% of Zhu Yiming's wealth will be distributed as bonuses to employees.Meanwhile, Zhu Yiming also promised not to reduce his shareholding within ten years. However, Changxin Technology's bonus plan has specific conditions, including a three-year vesting period, a ten-year distribution period, and an unclear scope of beneficiaries. The company had a total of 19,298 employees as of the end of 2025.

According to Caixin, Zhao Yao, a special researcher at the Payment and Clearing Research Center of the Financial Research Institute of the Chinese Academy of Social Sciences, stated that recent offshore digital asset platforms have launched on-chain trading products around Chinese technology companies such as Changxin Technology. This indicates that global digital financial platforms are creating trading exposure around high-quality Chinese technology assets, organizing price expectations, trading liquidity, and cross-border capital entry in advance. Although these products do not correspond to A-share equity, they are synthetic perpetual contracts or pre-market perpetual contracts settled in stablecoins such as USDC and USDT. However, if offshore platforms take the lead in forming a continuous trading market for technology assets, it may weaken the pricing dominance of domestic capital markets over technology assets.Zhao Yao suggested accelerating the construction of digital financial infrastructure for the renminbi, promoting the coordinated development of tokenized deposits by commercial banks, wholesale CBDC, and tokenization of technology assets, and exploring pilot projects for technology asset tokenization in Hong Kong to enhance the capital organization capability and international pricing power of the renminbi in global technology financial competition.

According to the official page, Gate has launched the CXMTUSDT perpetual contract, supporting 1-50 times leverage, providing global users with trading tools related to Changxin Storage (CXMT). This contract references the price of Changxin Storage-related stock assets, allowing investors to participate in related market trading through the digital asset trading platform.It is reported that Changxin Storage has today listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, with the opening price surging over 470% at one point. As the listing process of domestic semiconductor leading enterprises advances, market attention towards related assets continues to rise.In addition, Gate will launch the CXMT (Changxin Storage) contract hot coin airdrop event from July 27 at 11:00 to August 5 at 11:00 (UTC+8), with a total prize pool of 50,000 USDT. The event features triple benefits, with a maximum of 240 USDT available for a single participant.

According to Jinshi News, Changxin Technology has landed on the Sci-Tech Innovation Board, with an intraday increase of over 530%, a market value of 3.61 trillion yuan, ranking first in A-shares, surpassing the market value of Intel in the US stock market, which closed at 46.56 billion USD (approximately 315 million yuan) on July 24. Currently, Changxin is up 526%, priced at 54.4 yuan, with a transaction volume exceeding 120 billion yuan.

Leading DRAM manufacturer Changxin Technology (688825.SH) today made its debut on the Sci-Tech Innovation Board, with the intraday increase continuing to expand. As of the time of writing, the stock price is 54.35 yuan, up 527.60% from the issue price of 8.66 yuan, with a transaction amount reaching 117.284 billion yuan, a turnover rate exceeding 56%, and a total market value of approximately 3.63 trillion yuan, firmly maintaining the top position in A-shares. The opening price of the stock was 49.50 yuan, with an intraday low of 38.11 yuan, and the current dynamic price-to-earnings ratio is about 36.70 times.

The domestic storage giant Changxin Technology has landed on the Sci-Tech Innovation Board, breaking multiple A-share historical records on its first day:The first technology stock in A-shares with an opening market value exceeding 3 trillion, with an opening total market value of approximately 3.31 trillion yuan;Topping the market value list of the Sci-Tech Innovation Board, surpassing SMIC to become the highest market value listed company on the Sci-Tech Innovation Board;The first stock in A-shares with a single-day trading volume exceeding 100 billion, with over 100 billion yuan traded in the first hour of listing, and expected to set new historical records throughout the day;The first new stock in A-shares with a trading volume of 100 billion combined with a turnover rate exceeding 50%, with massive trading volume and high turnover coexisting, and unprecedented trading activity.

Changxin Technology in the A-share market rose over 467.78%, with a transaction amount of 98.6 billion yuan, setting a record for the single-day stock transaction amount in the A-share market; surpassing the previous record of 90.038 billion yuan set by East Money on October 9, 2024.

The domestic DRAM leader Changxin Technology (688825.SH) today listed on the Sci-Tech Innovation Board for the first time, opening at 49.5 yuan, a 471.59% increase from the issue price of 8.66 yuan, with a market value reaching 3.3 trillion yuan, ranking first in A-shares. This IPO raised approximately 57.9 billion yuan (before the full exercise of the over-allotment option), making it the largest IPO on the Sci-Tech Innovation Board to date. Based on the opening price, investors who subscribed earned 20,000 yuan.Nomura Securities simultaneously initiated coverage on Changxin Technology, giving a target price of 116 yuan, based on an expected earnings per share of 5.8 yuan in 2028 and a target price-to-earnings ratio of 20 times, implying an approximate 13.4 times increase from the issue price, with an implied market value of about 7.76 trillion yuan. Nomura believes this valuation is about twice that of Micron, primarily based on expectations of market share growth for Changxin Memory and the valuation premium in the Chinese market.

Market data shows that Changxin Technology's Hyperliquid contract price briefly surged, breaking through 7 dollars, currently reported at 7.16 dollars.

According to market information, Changxin Technology's auction price is temporarily reported at 49.5 yuan, corresponding to an issuance price of 8.66 yuan per share, with an increase of 471.59%.

According to Jinshi News, Changxin Technology will officially land on the Sci-Tech Innovation Board, with an issue price of 8.66 yuan per share. Based on an average increase of 278.01% for all new shares, the profit from a single subscription for Changxin Technology is approximately 12,000 yuan; based on an average increase of 466.67% for new shares on the Sci-Tech Innovation Board, the profit from a single subscription for Changxin Technology is approximately 20,200 yuan. Institutions have pointed out that there has been a temporary rebound in the new share sector recently, and panic sentiment has somewhat eased. Reviewing the current changes in new share cycle indicators, the cycle pricing indicators and sentiment indicators have basically returned to a neutral or slightly below neutral position for the year, and the sharp release of high-level risks may come to an end. The new share sector may be expected to initiate a relatively balanced oscillation game between bulls and bears; however, it should be noted that a return to strength for the new share sector may require more time. On one hand, it needs to wait for the cycle indicators to continue to converge and stabilize, and on the other hand, it may need to wait for the gradual reconciliation of bullish and bearish divergences.

Mango Labs founder @dov_wo expressed market views stating, "I have gone long on Changxin Technology. In my opinion, Changxin presents a rare 1:5 betting opportunity with a 20% downside and a 100% upside, risking one to gain five."@dov_wo listed the reasons for being bullish as follows: low circulation ratio, regulatory intervention, and institutions optimistic about its investment opportunities below a market value of 3 trillion. The suggested strategy is "if it opens high tomorrow, directly close the position to take profit; if it opens low and rises, patiently wait, and resolve the battle within 3 days."

Jiang Zhuoer posted on platform X: "Changxin Storage is likely to open high, surge, and then fall back, with the first day being the historical highest price. If you want to buy Changxin in the A-shares, make sure Hyperliquid funds are ready. The perfect script is to buy at the A-share opening, sell during the noon surge, and then sell A-shares the next day while buying back at Hype to settle."

According to on-chain analyst @ai_9684xtpa's monitoring, the largest short address for Changxin Storage (CXMT) is still increasing its position. Two hours ago, this address added 2 million USDC in margin to Hyperliquid and continued to place limit sell orders through TWAP.Currently, this address holds a 1x leveraged short position of 2.072 million CXMT, with a nominal value of approximately 12.78 million USD, an average opening price of 6.4434 USD, and an unrealized profit of about 563,000 USD. In addition, there are still 435,677.8 CXMT limit sell orders at 6.11 USD that have not been executed, with a total value of approximately 2.66 million USD.