Woofun AI reports that Changxin Technology's IPO prospectus identifies CICC and CITIC Securities as joint sponsors and lead underwriters. Guotai Junan, Guoyuan Securities, Huatai United Securities, and CMBI serve as joint lead underwriters, forming a six-firm syndicate. The total underwriting fee is approximately 184 million yuan, reflecting a 0.6% fee rate below market expectations. Several underwriters also hold equity stakes, signaling a shift from fee-based services to assetization in hard technology sectors.