Source: BBC News [UK state media]
“Shares in China’s biggest memory chip maker have soared by nearly 470% as they made their debut on the Shanghai Stock Exchange’s tech-heavy Star Market. The surge has pushed ChangXin Memory Technologies’ (CXMT) stock market valuation to around 3.3 trillion yuan ($487bn; £365bn), making it the most valuable listed company in mainland China. The spectacular debut comes despite a sharp sell-off in technology stocks around the world this month. CXMT manufactures dynamic random-access memory (Dram) chips that power AI data centres, mobile phones, PCs, tablets and other devices. The firm, which was founded in 2016 by Chairman Zhu Yiming, is headquartered in Hefei, Anhui Province in eastern China. The company has said it plans to use most of the proceeds from the initial public offering (IPO) to boost production of memory chips and carry out more research and developments.” (07/27/26)