Changxin Technology Pre-IPO On-Chain Valuation Hits 27.6 Trillion Yuan

Hyperliquid CXMT contract prices imply a 27.6 trillion yuan market cap, vastly exceeding the 580 billion yuan initial listing value on the STAR Market.

Woofun AI data shows that ChangXin Technology is scheduled to list on the Shanghai Stock Exchange's Science and Technology Innovation Board on July 27, with an initial market capitalization of approximately 580 billion yuan. The IPO price is set at 8.66 yuan per share, and the final online subscription winning rate reached 0.4714%, a record for the board. Full exercise of the over-allotment option could raise up to 66.6 billion yuan.

On Hyperliquid, the CXMT pre-IPO contract trades at $6.087, implying a stock price of 41.2 yuan and an on-chain market capitalization of roughly $407.1 billion, or 27.6 trillion yuan. This valuation suggests a potential profit of about 16,000 yuan per winning lottery ticket for retail investors. ChangXin Technology, China's largest DRAM manufacturer, reported Q1 2026 revenue of 50.8 billion yuan, up 719% year-on-year, with net profit surging 1,688% to 24.762 billion yuan.