Hefei State-owned Assets Wins Big Again!

The comprehensive holdings include approximately 40% of Changxin Technology's shares.
Changxin is a leading domestic manufacturer of advanced storage DRAM and HBM, also ranking in the top tier globally.
Besides South Korea's Samsung Electronics, SK Hynix, and Micron from the United States, Changxin is China’s own.
AI, as the fourth industrial revolution, has an explosive potential far beyond what most people can imagine, likely to grow rapidly over the next ten to fifteen years.
GPU, CPU, memory, cloud computing, optical modules, and even the supporting general electricity sector will see continuous breakthroughs.
(Optical modules hold the world's largest domestic market share, but Nvidia has invested in Corning, optimizing processes through co-packaged optical CPO technology, which is negative for domestic optical module companies like Zhongji Xuchuang.)
Many people don’t have a clear concept of AI’s explosive growth.
To put it simply, 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 safety technology company, has a pre-IPO valuation of 900 billion USD.
(DeepSeek is currently seeking funding at a valuation of 30 billion USD.)
Its Claude product has been used in the US to arrest Maduro and to make rapid decisions in operations against Iran.
Its CEO recently stated in an interview that the original goal was a tenfold year-over-year increase in full-year performance by 2026, but the first quarter alone saw growth of over 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 RMB is basically assured.
Even with a PE ratio of 20, its market value upon listing could reach a terrifying 2 trillion RMB.
However, the market currently assigns AI and Sci-Tech Innovation Board stocks a PE ratio often exceeding 100, so the market value of Changxin upon listing is unimaginable, and it could easily challenge the No. 1 in A-shares.
(Currently, ICBC’s market cap is less than 30 trillion RMB.)
In the future, Hefei’s tax revenue will be substantial, and the holdings will be like a mountain of gold.
(Changxin lost over 30 billion RMB in the past ten years but has fully recovered in just one quarter this year.)