On July 27, 2026, Changxin Technology (688825), a frontrunner in China’s A-share market for DRAM, made its official debut on the Science and Technology Innovation Board (STAR Market). Opening at RMB 49.50, the stock surged over 470% from its issue price of RMB 8.66. This impressive leap propelled its total market capitalization beyond RMB 3.3 trillion, eclipsing the Industrial and Commercial Bank of China and claiming the title of the largest company by market cap on the A-share market.

On its first trading day, Changxin Technology's trading volume quickly surpassed RMB 100 billion, setting a new record as the first individual stock in A-share history to achieve such a feat in a single day. As of now, the stock price has climbed over 472%, accompanied by a turnover rate of nearly 49%.

The total funds raised through Changxin Technology's IPO reached RMB 57.919 billion. Should the over-allotment option be fully utilized, the total fundraising will escalate to RMB 66.607 billion, securing its position as the largest IPO in the history of the STAR Market.