Jul 27, 2026 – 4.11pmTokyo | Chinese memory chip maker ChangXin Memory Technologies exploded on its sharemarket debut on Monday, briefly becoming mainland China’s most valuable listed company as investors piled into what many see as Beijing’s best chance of breaking South Korea’s grip on one of the world’s most strategic technologies.Shares in the Hefei-based company surged as much as 500 per cent above their IPO price of 8.66 yuan, after raising 57.9 billion yuan ($12.2 billion) in Asia’s biggest initial public offering this year. The company was valued at more than 3.6 trillion yuan at one stage, ahead of Hong Kong-listed Tencent.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
China’s answer to SK Hynix soars 500pc on market debut
Shares in memory chip maker CXMT surged far above their IPO price after raising about $12 billion in Asia’s biggest initial public offering this year.
TL;DRAI
ChangXin Memory raised $12.2B in Asia's largest IPO this year, shares jumping 500% as China challenges SK Hynix's memory chip dominance. Supply leverage shifts to Beijing—critical for CTO stack decisions and enterprise vendor diversification from Korea-centric supply chains.
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