CXMT, The Memory Maker Apple Wants, Jumps 470 Per Cent On DebutChangXin Memory Technologies opened at RMB 49.50 on the Shanghai STAR Market on 27 July 2026, up 471.59 per cent on its RMB 8.66 offer price, and peaked at RMB 55.03. At RMB 49.87 in mid-session the company was worth RMB 3.34 trillion, about $487 billion, passing ICBC as the most valuable company listed on a Chinese mainland exchange. Only 6.73 per cent of shares trade freely and the retail tranche was oversubscribed 212 times. Apple petitioned the Trump administration in June 2026 for permission to buy ChangXin DRAM, and Micron has lobbied Commerce Secretary Howard Lutnick to refuse.ChangXin Memory Technologies opened at RMB 49.50 on the Shanghai STAR Market on Monday, up 471.59 per cent on its RMB 8.66 offer price, and touched RMB 55.03 before easing back. At RMB 49.87 in mid-afternoon trading the memory maker carried a market capitalisation of RMB 3.34 trillion, or roughly $487 billion - about Rs 47 lakh crore, and enough to pass ICBC as the most valuable company listed on a Chinese mainland exchange. Apple asked the Trump administration in June for permission to buy this company's chips.What happened in Shanghai ChangXin priced at RMB 8.66 and opened almost six times higher. The offer went out at 2.4 times book value, a 56 per cent discount to SK hynix, Micron and Nanya, which left the market plenty of room to close the gap on day one.About The AuthorAt heart, I am a storyteller drawn to the watershed moments that bend the technology landscape. I braid narrative with data, humanise statistics, and trace the arc from first spark to world-changing impact. My reportage, features and reviews are witty, sardonic, visual and vivid, using anecdote to illuminate rather than eviscerate.