China's memory chipmaker CXMT surges 465.82 pct on debut, becomes A-share's most valuable listed company
Xinhua, August 03, 2026 Adjust font size:
Chinese memory chipmaker ChangXin Memory Technologies (CXMT) closed at 49 yuan (about 7.22 U.S. dollars) on its Shanghai STAR Market debut Monday, up 465.82 percent from its IPO price of 8.66 yuan, with full-day turnover surpassing 140 billion yuan.
The stock ended its first trading day with a market capitalization of over 3.2 trillion yuan, cementing its position as the largest listed company by market value on the A-share market.
The blockbuster debut caps a historic IPO run with expected total proceeds surpassing 66 billion yuan, making it the largest-ever IPO in China's sci-tech innovation board.
CXMT is expected to generate operating revenue of 110 billion to 120 billion yuan in the first half of this year, with net profit attributable to shareholders of the parent company reaching 50 billion to 57 billion yuan, according to the company. ■