Changxin Technology Surges 12.66%, Market Cap Tops RMB 3.5 Trillion

Changxin Technology closed up 12.66% at RMB 52.95 on July 29, recovering its market capitalisation to above RMB 3.5 trillion, after briefly rising nearly 15% during the session. The closing price is about 4% below the historical high of RMB 55.03 set on its debut day. Since listing on the STAR Market on July 27, the stock has traded for three sessions, with a cumulative gain of 511.43%. For a single lot of 500 shares, the paper profit is approximately RMB 22,100. From the second trading day to July 29, the stock gained 8.1%, with the July 29 session contributing most of that increase. On its debut day, Changxin Technology recorded turnover of RMB 141.187 billion, and turnover in the following two sessions each exceeded RMB 40 billion. As of July 28, margin financing on the stock stood at about RMB 15 billion, down from RMB 15.267 billion on the first day and RMB 14.713 billion on the second day, a daily decrease of RMB 554 million. Changxin Technology ranks 12th among all A-share stocks by margin balance and 4th in the Shenwan secondary semiconductor industry, behind only GigaDevice, Cambricon, and Montage Technology. Boosted by the July 29 rally, Changxin Technology's total market capitalisation returned to above RMB 3.5 trillion, about RMB 835.5 billion more than Industrial and Commercial Bank of China (RMB 2.7058 trillion) and roughly 1.5 times that of Agricultural Bank of China (RMB 2.3807 trillion). The total market capitalisation of the STAR Market is nearly RMB 18 trillion, and Changxin Technology alone accounts for nearly one-fifth, firmly ranking first among all STAR-listed companies, followed by heavyweight stocks such as Cambricon, SMIC, and Haiguang Information. From July 27 to 29, a total of 13 stocks had an average daily turnover exceeding RMB 10 billion. Changxin Technology led with RMB 76.81 billion, while Zhongji Innolight averaged about RMB 40.61 billion. Other actively traded stocks included Eoptolink, GigaDevice, Dongshan Precision, CATL, and Unisplendour. By Shenwan primary industry classification, among the top 20 stocks by average daily turnover during the week, electronics stocks accounted for 70%, communication stocks for 15%, and the rest were from power equipment, computer, and building materials sectors. At the secondary industry level, semiconductor stocks were the most numerous, accounting for 60%, followed by communication equipment stocks at 15%, with the remainder from IT services, glass and fibre, batteries, optical optoelectronics, and components. In terms of turnover rate, excluding newly listed stocks this week, Tuolunsi had a weekly average daily turnover rate of 52.7%, while five stocks—Changying Harden, Wanbang Pharmaceutical, Yikun Electric, Longxin Intelligent, and Qiaoluming—each had an average daily turnover rate exceeding 40%. By industry, among the top 20 stocks by average daily turnover rate during the week, power equipment, pharmaceutical and biological, and electronics stocks were the most numerous, also covering petroleum and petrochemical, communication, mechanical equipment, basic chemicals, computer, automobile, and social services sectors.