Changxin Technology's STAR Market IPO Approved by CSRC: Aims to Raise 29.5 Billion Yuan, Making It the Second Largest IPO in History

On June 12, the China Securities Regulatory Commission (CSRC) approved the initial public offering (IPO) registration application of Changxin Technology Group Co., Ltd. on the Shanghai Stock Exchange’s Science and Technology Innovation Board (STAR Market), and officially released its approval document with reference number [2026]1344. As a leading domestic integrated circuit firm specializing in mass production of general-purpose DRAM memory chips, Changxin Technology completed the registration process smoothly after clearing the Shanghai Stock Exchange’s STAR Market Listing Committee meeting on May 27. The company’s IPO is set to raise 29.5 billion yuan, making it the second-largest fundraising project in STAR Market history—surpassed only by Semiconductor Manufacturing International Corporation (SMIC). The raised funds will mainly be allocated to upgrading memory wafer manufacturing lines, enhancing DRAM technology, and supporting forward-looking technological R&D. Per its prospectus, Changxin Technology reported 50.8 billion yuan in operating revenue for Q1 2026, a year-over-year jump of 719.13%, with a net profit attributable to shareholders of 24.762 billion yuan. It forecasts operating revenue between 110 billion to 120 billion yuan and net profit between 50 billion to 57 billion yuan for the first half of 2026. During the prior listing committee review, the company faced inquiries about potential future performance fluctuations, the second-phase voluntary transfer of over 20 billion yuan worth of shares by Zhu Yiming for an employee stock incentive plan, and other related issues. Click the link below to join DynaBeat Beating’s Feishu AI News Channel, which monitors global AI hotspots and news 24/7.