Confirmed! Changxin Technology’s new stock subscription on July 16

On July 9, 2026, the highly anticipated Changxin Technology disclosed its prospectus intent to issue and the “Issuance Arrangements and Preliminary Inquiry Announcement” for an IPO on the Sci-Tech Innovation Board, formally kicking off the issuance process for a Sci-Tech Innovation Board IPO. According to the announcement, Changxin Technology’s off-site subscription day and online subscription day are both July 16, 2026.

The announcement shows that for this offering, Changxin Technology plans to publicly issue 66,880.8608 million shares (before exercising the over-allotment option), representing 10.00% of the total share capital after issuance. The total share capital after issuance will be 7.69B shares (before exercising the over-allotment option). In addition, the issuer grants the joint sponsors (joint lead underwriters) China International Capital Corporation Limited an over-allotment option of no more than 15.00% of the initial number of shares to be issued. If exercised in full, the total number of shares to be issued will increase to 3.34B shares.

This offering adopts a combined approach of targeted placement to investors participating in strategic allocation, inquiry-based placement to qualified investors in the off-site market, and price-based issuance to the general public investors in the online market holding non-restricted A-shares traded on the Shanghai market and non-restricted depository receipts by market value. The pricing method is to determine the issue price through initial off-site inquiries; no cumulative bidding inquiry will be conducted in the off-site market. Among them, the initial strategic allocation quantity is 2.68B shares, accounting for 50.00% of the proposed issuance; the initial off-site issuance quantity is 668.81M shares; and the initial online issuance quantity is 6,688.08500 million shares.

According to the issuance timetable, the preliminary inquiry day is July 13, 2026 (T-3 days). The issuance announcement will be published on July 15, 2026 (T-1 day). Both the off-site subscription day and the online subscription day are July 16, 2026 (T day). The online subscription hours are 9:30-11:30 and 13:00-15:00. The cutoff dates for off-site payment and online payment are both July 20, 2026 (T+2 days).

The company’s securities abbreviation is “Changxin Technology,” and the securities code/off-site subscription code is “688825,” and the online subscription code is “787825.”

Changxin Technology was founded in 2016 and is headquartered in Hefei, Anhui. It is a company integrating R&D, design, and manufacturing of dynamic random-access memory (DRAM), and is among the largest in China in scale, with advanced technology and comprehensive layout. The company adopts the IDM (vertically integrated manufacturing) business model. The company’s founder, Zhu Yiming, previously founded GigaDevice; the latter also holds a portion of equity in Changxin Technology.

Based on the company’s previously disclosed profit forecast, in the first half of 2026 it is expected to achieve operating revenue of between 110 billion yuan and 120 billion yuan, representing year-on-year growth of 612.53% to 677.31%. Net profit attributable to the parent is expected to be 50 billion yuan to 57 billion yuan, representing year-on-year growth of 2,244.03% to 2,544.19%. Net profit attributable to the parent after deducting non-recurring items is expected to be 52 billion yuan to 58 billion yuan.

The company said that the sharp growth in performance is mainly due to the continued growth in global computing power demand, DRAM products being in short supply relative to demand, and sustained price increases.