First-day stock price soared 465%! NIO's Li Bin appears at ChangXin Technology's IPO appreciation dinner: Made a huge profit

Today, Changxin Technology, a leading domestic memory chip company, officially landed on the STAR Market with stock code 688825.On its first day of listing, the stock opened 471.59% higher at 49.5 yuan per share, with an intraday gain of up to 531.06%. The closing gain was 465%, with a stock price of 49 yuan and a total market value of 3.28 trillion yuan, making it the highest-valued company in the A-share market.

A blogger posted photos showing that Changxin Technology recently held an IPO appreciation dinner in Shanghai with the theme "Forging Ten Years, Xin Opens the Future." NIO founder Li Bin appeared at the dinner, holding red wine with a smile on his face. The blogger captioned it: "Made a fortune."

Indeed, Li Bin did make a fortune. Earlier on July 15, NIO appeared on the strategic placement list for Changxin Technology's IPO, committing to subscribe for 158 million yuan with an 18-month lock-up period.Based on the issue price of 8.66 yuan per share, NIO subscribed for approximately 18.2448 million shares. At today's closing price of 49 yuan, NIO's paper profit is about 740 million yuan, with a return rate exceeding 465%.

However, Li Bin's investment in Changxin Technology is not for stock trading. NIO is a cornerstone strategic partner of Changxin Technology in the DRAM field, and the two parties will engage in strategic cooperation on automotive-grade LPDDR4X and LPDDR5X products.

Li Bin previously responded: "The cooperation is progressing smoothly, and the collaboration with Changxin Technology helps stabilize NIO's supply chain." Analysts pointed out that Li Bin's 158 million yuan payment was for the "priority chip supply rights" during the 18-month lock-up period — in a cycle of memory price increases, stable supply is more important than short-term arbitrage.

It is reported that Changxin Technology's IPO is the largest in the history of the STAR Market, with an issue price of 8.66 yuan per share and total fundraising of 57.919 billion yuan, reaching 66.607 billion yuan after full exercise of the over-allotment option. A total of 18 industry chain enterprises participated in the strategic placement, including Alibaba, Xiaomi, and others besides NIO.

Changxin Technology was founded in 2016, headquartered in Hefei, and is China's largest and most technologically advanced DRAM memory chip manufacturer.In the first quarter of 2026, it achieved revenue of 50.8 billion yuan, a year-on-year increase of 719%; net profit of 33 billion yuan, up 1268% year-on-year. The surge on the first day of listing reflects the capital market's expectations for the domestic memory chip leader.