Changxin Technology Debuts on Shanghai Stock Exchange July 27 with 580B Yuan Valuation, Analysts Target 2–3T Yuan Valuation

According to BlockBeats, on July 19, Changxin Technology (CXMT) plans to list on Shanghai Stock Exchange's Sci-Tech board on July 27 with an initial valuation of approximately 580 billion yuan. The company aims to become the world's third-largest DRAM supplier.

UBS noted that DRAM market supply shortages will persist at least through Q2 2028, supporting valuations reaching trillions of yuan. Multiple analysts project post-IPO valuations of 2–3 trillion yuan, with Reuters estimating valuations could exceed 3 trillion yuan or reach 5 trillion yuan under favorable AI-driven and self-reliance scenarios. Analysts cite strong AI demand for DRAM/HBM, Changxin's status as China's only domestic DRAM manufacturer, and government fund backing as key valuation drivers.