Market value breaks 3.28 trillion! The new king of A-shares! ChangXin Technology closed up 465.82% on its first trading day, setting multiple records.

On July 27, Kuaikeji reported that domestic DRAM leader Changxin Technology officially debuted on the Shanghai STAR Market (SSE STAR), marking a historic capital market premiere in A-share history.

The stock opened at an issue price of 8.66 yuan per share and immediately surged to 49.50 yuan, skyrocketing 471.59%. By the close, Changxin Technology ended the day up 465.82% at 49.00 yuan per share, with a total market capitalization of 3.28 trillion yuan, officially surpassing Industrial and Commercial Bank of China (ICBC) to claim the top spot on the A-share market capitalization leaderboard, becoming the new king of A-shares.

During its first day of trading, Changxin Technology shattered multiple A-share historical records. It became the first technology stock in A-share history to surpass a 3 trillion yuan market cap at the open; its full-day trading volume exceeded 140 billion yuan, making it the first A-share stock with a single-day turnover exceeding 100 billion yuan. At one point, trading was so heavy that it caused lag in some broker systems.

Additionally, the stock set a new record for being the first A-share stock to combine a turnover of over 100 billion yuan with a turnover rate exceeding 50%.

Globally, its market cap of 3.28 trillion yuan also surpassed that of US tech giant Intel.

The explosive performance of Changxin Technology stems from its core strength and strategic value in the domestic memory chip sector. It is currently the largest, most technologically advanced, and most comprehensive DRAM R&D, design, and manufacturing integrated enterprise in China.

Changxin Technology's production capacity ranks first in China and fourth globally, successfully breaking the long-term monopoly of the three overseas giants in this field.

Driven by the AI wave, the global memory industry has entered a super cycle, and Changxin has also experienced explosive performance growth. In the first half of 2026, the company expects to achieve a net profit attributable to the parent company of 50 billion to 57 billion yuan, a year-on-year increase of 2244% to 2544%, marking a stunning turnaround from massive early losses to earning nearly 300 million yuan per day.

This IPO also set a record for the history of the STAR Market. Before the exercise of the over-allotment option, Changxin Technology raised a total of approximately 57.919 billion yuan, surpassing the 53.2 billion yuan record set by SMIC in 2020, making it the largest IPO in STAR Market history.

If the over-allotment option is fully exercised, the fundraising scale could reach up to 66.607 billion yuan, ranking among the top three IPO fundraising amounts in A-share history.

The strong coronation of Changxin Technology marks a complete break from the pattern where the "A-share market cap leader" was long dominated by traditional industry giants such as liquor and banking. The capital market wind is undergoing a profound shift, with innovation forces represented by hard technology ushering in unprecedented recognition and value revaluation.