Changxin Technology STAR Market Debut: Record RMB 141.2 Billion Turnover, Market Cap Above RMB 4 Trillion
Changxin Technology (688825) listed on the STAR Market on July 27, 2026, raising approximately RMB 57.9 billion, the largest IPO on A-shares since 2026 and the largest on the STAR Market. On its debut, turnover hit a record RMB 141.187 billion, making it the first A-share stock to exceed RMB 100 billion in daily turnover and the most valuable company on the A-share market by market cap, surpassing RMB 4 trillion. On July 31, the stock rose further, gaining over 14% intraday to reach RMB 60.6 per share. The company focuses on DRAM products, with mass production of DDR4, DDR5, LPDDR4X, and LPDDR5/5X series.
In the morning session on July 31, driven by a sharp rebound in the semiconductor and computing hardware supply chain, Changxin Technology (688825) surged, rising over 14% intraday to hit a high of RMB 60.6 per share, giving it a market capitalization of more than RMB 4 trillion. On July 27, the company officially listed on the Shanghai Stock Exchange's STAR Market, raising a total of approximately RMB 57.9 billion (before the full exercise of the over-allotment option). This made it the largest IPO on the A-share market since 2026 and the largest IPO in the history of the STAR Market. On its debut day, turnover reached RMB 141.187 billion, setting a new record for the highest single-day turnover of any individual A-share stock, making it the first A-share stock to surpass RMB 100 billion in daily turnover, and also the company with the highest market capitalization on the A-share market. Changxin Technology's main business is highly concentrated on DRAM products. It has achieved mass production of a full series of DRAM products, including DDR4, DDR5, LPDDR4X, and LPDDR5/5X, with core product technology reaching internationally advanced levels, covering mainstream markets such as servers, mobile devices, and smart cars.