Changxin Technology A-Share Debut: Closes at RMB 49, Up 4.66 Times, Market Cap RMB 3.28 Trillion
Changxin Technology (688825. SH) debuted on the A-share market in July 2026, closing at RMB 49, up 4.66 times from its IPO price, giving it a market capitalization of RMB 3.28 trillion and making it the largest A-share company by market cap, surpassing Industrial and Commercial Bank of China. The stock has no price limits for the first five trading days. In the broader market, the ChiNext Index rose 35.6% in the first half of 2026 but has fallen 17.3% since July. The Shanghai Composite Index has erased its year-to-date gain of about 7%, while the CSI300 is up about 1.6% year to date. After a sharp decline in late June, 'national team' funds stepped in last week, slowing the downturn.
In July 2026, Changxin Technology (688825. SH), a leading Chinese memory chip maker, listed on the A-share market. The stock hit an intraday high of RMB 55.03 and closed at RMB 49, up 4.66 times from its IPO price. On its debut day, its market capitalization reached RMB 3.28 trillion, surpassing Industrial and Commercial Bank of China to become the highest-valued company on the A-share market. Newly listed stocks have no price limits for the first five trading days.
In the first half of 2026, the ChiNext Index rose 35.6% cumulatively, but has fallen 17.3% since July. The Shanghai Composite Index erased its year-to-date gain of about 7% by mid-July. The CSI300 Index is up about 1.6% year to date. The A-share market weakened rapidly in late June, and last week 'national team' funds entered the market, slowing the decline.