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A mobile phone displays CXMT Corp.’s first day of trading on July 27. Photo: VCG
Chipmaker CXMT Surges Over 470% in Debut to Become China’s Most Valuable Stock
The STAR Market’s largest IPO mints massive windfalls for early backers while draining liquidity from broader Chinese indexes
TL;DRAI
CXMT surged 470% on debut, China's most valuable stock at 3.3T yuan via record 57.6B IPO. Capital concentration signals geopolitical chip competition intensification, reshaping enterprise supply-chain strategies and foreign vendor dependencies.
104 words~1 min read
