Changxin Technology’s IPO: CICC leads the underwriting syndicate, with underwriting fees of approximately 184 million yuan

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BlockBeats news, July 10, according to ChangXin Technology's IPO prospectus, in this IPO, CICC and CSC acted as joint sponsors and lead underwriters, while Guotai Haitong, Guoyuan Securities, Huatai United, and China Merchants Securities acted as co-lead underwriters, forming an underwriting syndicate of six securities firms in total. The underwriting fee is approximately 184 million yuan (fee rate 0.6%), lower than market expectations.

Multiple underwriters are also company shareholders, reflecting that securities firms are shifting from a "fee-based" to an "asset-based" service model for hard technology, and equity investment returns may far exceed underwriting income.

CICC-2.08%
CMSC-7.19%
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