Hefei State-owned Assets Wins Again!

Comprehensive holdings include approximately 40% of Changxin Technology.
Changxin is a leader in domestic advanced storage DRAM and HBM, also in the top tier globally.
Apart from Samsung Electronics in Korea, SK Hynix, and Micron in the US, Changxin is China’s.
AI, as the fourth industrial revolution, has an explosive potential far beyond what most people can imagine, likely to grow rapidly over ten to fifteen years.
GPU, CPU, memory, cloud computing, optical modules, and even supporting general electricity will continue to explode (the domestic market share of optical modules is the first globally, but Nvidia has invested in Coring, optimizing processes through co-packaged optical CPO, which is bad news for domestic companies like Zhongji Xuchuang leading the optical module sector).
Many people have no concept of the extent of AI’s explosion; to put it this way, SanDisk, as a second-tier memory company, saw its stock price multiply 50 times in one year.
Recently, the hotly discussed Anthropic, as the world’s leading AI intelligent security technology company, has a pre-IPO valuation of 900 billion dollars (DeepSeek is currently seeking funding at a valuation of 30 billion dollars), and its Claude product has been used in the US to arrest Maduro and make rapid decisions in operations against Iran.
Its CEO recently stated in an interview that the original goal was a tenfold year-over-year growth in 2026, but the first quarter alone exceeded eighty times!
This is the current explosive situation of AI.
Back to Changxin Technology, based on the profit scale in the first quarter, a full-year net profit of 100 billion yuan is basically a certainty.
Even with a PE ratio of 20, its market value upon listing could reach a terrifying 2 trillion yuan.
However, the market currently assigns AI and the STAR Market a PE ratio generally around a hundred times, so the market value of Changxin upon listing is unimaginable, and it could easily challenge the number one in A-shares.
(Currently, ICBC’s market cap is less than 3 trillion yuan)
In the later stages, Hefei’s tax revenue will be substantial, and the holdings will be like a mountain of gold.
(Changxin lost over 30 billion yuan in the past ten years but has fully recovered in just one quarter this year 😂)