ME News report: On June 1 (UTC+8), ChangXin Memory Technologies’ IPO on the STAR Market was approved by the Shanghai Stock Exchange’s Listing Committee. According to its prospectus, the company has implemented two employee stock ownership plans, granting shares to a total of 6,760 individuals, with the second plan’s cost as low as RMB 0.108 per share. Based on market expectations of a valuation exceeding RMB 2 trillion, ChangXin’s listing could create at least 13 billionaires and thousands of millionaires. Financially, ChangXin reported revenue of RMB 50.8 billion in Q1 2026, a 719% year-over-year increase, and a net profit attributable to shareholders of RMB 24.76 billion, turning profitable from a loss in the prior year. In 2024, ChangXin ranked fourth globally and first in China by DRAM market share. Another leading Chinese memory manufacturer, Yangtze Memory Technologies (YMTC), has also initiated its IPO preparation process, with its NAND flash market share surpassing 10% globally. Behind the rapid rise of both companies, local state-owned capital has played a pivotal role. Public records show that Anhui’s state-owned assets hold approximately 46.7% of ChangXin’s shares, while Hubei’s state-owned assets hold over 44% of YMTC’s shares. After nearly a decade of sustained investment and support, Hefei and Wuhan have respectively cultivated industry leaders in DRAM and NAND flash, fostering the aggregation of upstream and downstream supply chains and forming multi-billion-yuan integrated circuit industrial clusters. Industry experts believe that the explosive demand for AI computing power is driving memory chips into a new cycle of growth. The rise of ChangXin and YMTC not only signifies a major breakthrough for China’s domestic memory industry but also marks a shift in China’s integrated circuit landscape—from dominance by a few leading cities toward a more decentralized, multi-polar development pattern. (Source: BlockBeats)
CX Technology IPO Approved, Expected to Create 13 Billionaires
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Summary
CX Technology's IPO on the STAR Market has been approved, with on-chain data indicating strong institutional interest. Derived from MetaEra, the company’s prospectus lists two ESOPs covering 6,760 participants. The second round’s price is 0.108 RMB per share. With a valuation exceeding 2 trillion RMB, the IPO could create 13 billionaires. In Q1 2026, revenue reached 50.8 billion RMB, a 719% year-over-year increase, and net profit hit 24.76 billion RMB. CX holds the fourth-largest global DRAM market share and leads in China. Altcoins to watch may experience movement amid this major listing.
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