CXMT IPO on Shanghai Stock Exchange

ChangXin Memory Technologies Corp, formally ChangXin Memory Technologies, made its debut on the Shanghai Stock Exchange on July 27, 2026, after raising 57.92 billion yuan ($8.6 billion) in Asia's biggest IPO of the year. The IPO price was set at 8.66 yuan per share, valuing the company at approximately 579 billion yuan ($85.5 billion). ChangXin Memory Technologies is the world's fourth-largest DRAM chipmaker, behind Samsung Electronics, SK Hynix, and Micron Technology. The listing is the largest Chinese A-share semiconductor IPO ever, surpassing SMIC's 2020 offering. Six Chinese investment banks, including China — China Securities Regulatory Commission and CICC, earned at least $41 million in fees. The company expects first-half revenue to surge more than sevenfold to 110-120 billion yuan and net profit of 66-75 billion yuan, reversing a year-earlier loss. The IPO proceeds will fund chip production, R&D, and working capital. Analysts from HSBC Qianhai Securities, Nomura, and Morningstar DBRS commented on potential liquidity impact and ChangXin Memory Technologies's competitive position.