Four New Share Subscriptions This Week, Changxin Technology Raises 29.5 Billion Yuan in Year's Largest IPO

Four new stocks are scheduled for subscription this week: Zhanxin Semiconductor, Senhe High-Tech, Chaochun Applied Materials, and Guoyi Company. Zhanxin Semiconductor and Senhe High-Tech will be subscribed on July 27, while Chaochun Applied Materials and Guoyi Company will be subscribed on July 31.

Zhanxin Semiconductor is one of China's high-reliability analog chip suppliers, covering chip design, packaging design, and testing and screening. Its products are used in the military electronics sector, serving major military groups and research institutes. From 2023 to 2025, the company's operating revenue was 466 million yuan, 413 million yuan, and 639 million yuan, respectively, with net profit attributable to parent of 179 million yuan, 95 million yuan, and 228 million yuan.

Senhe High-Tech focuses on the research, production, and sales of environmentally friendly precious metal beneficiation agents, with core products used in the leaching and beneficiation of gold, silver, and other precious metals. From 2023 to 2025, the company's total revenue was 346 million yuan, 623 million yuan, and 840 million yuan, respectively, with net profit attributable to parent of 56.0693 million yuan, 150 million yuan, and 272 million yuan.

Chaochun Applied Materials specializes in special coating processes and related technologies and materials, providing precision components and services for chip manufacturing, precision optics, and other fields. From 2023 to 2025, the company's operating revenue was 169 million yuan, 257 million yuan, and 496 million yuan, respectively, with net profit attributable to parent of 65 million yuan, 83 million yuan, and 185 million yuan.

Guoyi Company focuses on high-end scientific instruments, covering microscopic analysis and quantum sensing, providing full-stack solutions from core devices to complete equipment. From 2023 to 2025, the company's operating revenue was 400 million yuan, 501 million yuan, and 666 million yuan, respectively, with net profit attributable to parent of -140 million yuan, -74.0802 million yuan, and -5.7972 million yuan.

Two new stocks will be listed this week: Changxin Technology and Weiqi Technology, both officially listed on July 27. Changxin Technology is a leading domestic DRAM company. In the first quarter of this year, Changxin Technology achieved operating revenue of 50.8 billion yuan, up 719.13% year-on-year; net profit of 33.012 billion yuan, up 1268.45%; and net profit attributable to parent of 24.762 billion yuan, up 1688.3%. The company's main business is highly concentrated on DRAM products, and it has achieved mass production of the full range of DDR4, DDR5, LPDDR4X, and LPDDR5/5X DRAM products.

Weiqi Technology focuses on the research and production of cosmetic raw materials, with core business covering peptide raw materials and plant extracts, widely used in functional skincare products.

Last week, three new stocks were listed. On July 21, Taimobio was listed on the STAR Market of the Shanghai Stock Exchange at an issue price of 14.46 yuan per share, closing at 45.10 yuan per share on the first day. On July 22, Qiaoluming was listed on the Beijing Stock Exchange at an issue price of 14.36 yuan per share, closing at 18.81 yuan per share on the first day. On July 24, Changying Hard Alloy was listed on the Beijing Stock Exchange at an issue price of 18.89 yuan per share, closing at 56.03 yuan per share on the first day.

Last week, the Shenzhen Stock Exchange and the Beijing Stock Exchange held new listing review committee meetings. Yuejiang Technology, which plans to list on the ChiNext Board, and Huanneng Turbine, Xuyang New Materials, and Fangyi Friction, which plan to list on the Beijing Stock Exchange, all passed the review. This week, the Shenzhen Stock Exchange and the Beijing Stock Exchange will continue hearings. On July 31, the Shenzhen Stock Exchange will review the ChiNext Board IPO of Lieqi Intelligence, which focuses on the research, production, and sales of intelligent production equipment for optical communications, semiconductors, and automotive automation. On July 31, the Beijing Stock Exchange will review the IPO of Tianyuan Heavy Industry, which is mainly engaged in the research, development, design, manufacturing, and service of bridge load-bearing products.

On the Hong Kong stock market, one new stock is scheduled for subscription this week. Zhongji Innolight will be subscribed on July 27 and listed on July 30. Last week, Guangxi Baifei Dairy submitted its Hong Kong IPO prospectus for the first time. Nasen Intelligent Technology, Anlian International Holdings, and Zhenqu Technology updated their Hong Kong IPO prospectuses. Shanghai Junyi Industrial Automation, Zhejiang Jiazhi Technology, and Dizal Pharmaceutical saw their Hong Kong applications lapse.

In terms of investment and financing, on July 24, Guibu Microelectronics completed a strategic financing of over 100 million yuan, jointly invested by OmniVision Group, Bosch Venture Capital, Jiangbei Science and Technology Investment Group, Lanpu Capital, and Jingxiang Capital. On July 23, Yuanchuan Micro completed a Pre-A round of several hundred million yuan in financing, led by IDG Capital, with joint investment from Futeng Capital, Jiukun Venture Capital, Shangqi Capital, Shunxi Fund, and Xuhui Science and Technology Venture Capital. On July 23, Sheshu Technology completed a B round of over 100 million yuan in financing, accumulating over 300 million yuan in total financing, with investors including Shenzhen Industrial Investment, Hedinggong, and existing shareholder Yonghua Investment. On July 23, PrimalVerse (Yuanhao Power) completed a seed round of several hundred million yuan in financing, with participation from Lenovo Star, Ginkgo Valley Capital, Qifu Capital, and Zhuoyuan Asia, and strategic investment from Jingfeng Medical.

On July 22, Qingpu Biotech completed a Series C equity financing of approximately 600 million yuan, co-led by Jiangsu High Investment, Yifeng Capital, Sunshine Ronghui Capital, and Yuanhe Holdings, with follow-on investments from Guangyao Capital, Jiangsu Agricultural Reclamation Biotechnology Fund, CITIC Construction Investment Capital, Tailong Investment, Guangdong Traditional Chinese Medicine Big Health Fund, Guoxin Hongsheng, Guangzhou Industrial Investment Capital, Hunan Caixin Industrial Fund, BOC Capital, and Guoju Venture Capital, and additional investments from existing shareholders Nanjing Innovation Investment Group and Shengjing Jiacheng.