China's Longest Debut as A-Share Market Cap Leader, Five Major Shareholders See $1.42T Paper Gains

According to BlockBeats, Changxin Technology (688825.SH), China's leading DRAM manufacturer, debuted on the Shanghai Stock Exchange's STAR Board on July 27, closing at 49.00 yuan, up 465.82% from its 8.66 yuan IPO price. Trading volume reached 141.187 billion yuan, giving the company a market capitalization of approximately 3.28 trillion yuan, making it the highest market-cap listed company on the A-share market.

Based on the prospectus and closing price, the five largest shareholders—Qinghuiji Semiconductor, Changxin Integration, National IC Fund II, Hefei Jixin, and Anhui Provincial Investment—held stakes worth approximately 639.1, 345.3, 257.5, 246.8, and 233.3 billion yuan respectively. Their combined paper gains amounted to approximately 1.42 trillion yuan.