#夏日创作营

Listed tomorrow! How much money can you make with one lucky draw in Changxin Technology?
The listing date of Changxin Technology—which had been heavily hyped before—has been set! According to the official announcement, the company’s shares will be officially listed and begin trading on the Shanghai Stock Exchange’s STAR Market on July 27, 2026.
As the “giant-sized” new STAR Market IPO most watched in the A-share market in 2026, Changxin Technology’s timeline took only 148 days: from its IPO application being accepted on December 30, 2025, to passing the review on May 27, 2026. After the CSRC approved registration on June 12, the company officially released the listing prospectus on the evening of July 23—an astonishingly fast pace.
The offering price is 8.66 yuan per share. The total market value of the issuance is about 579.19B yuan, and the total funds expected to be raised are about 579B yuan. The fund-raising scale ranks first in the history of the STAR Market.
With one lot in hand, how much can it actually make?
This is the question most IPO applicants who get a draw are most concerned about.
According to STAR Market rules, one lot for Changxin Technology is 500 shares. At an issue price of 8.66 yuan per share, one lot requires payment of 4,330 yuan.
So, how much can those 4,330 yuan turn into? Multiple institutions have provided different scenario forecasts:
Listing market value: 3 trillion yuan
Implied share price: 44.86 yuan/share
Profit from one lot: about 18.1k yuan
Listing market value: 4 trillion yuan
Implied share price: close to 60 yuan/share
Profit from one lot: about 25.6k yuan
Listing market value: 5 trillion yuan
Profit from one lot: about 33.1k yuan
Based on the neutral expectations from multiple institutions, after listing, Changxin Technology’s market value is expected to be about 3 trillion yuan, with profit from one lot of about 20k yuan.
An investment of 4,330 yuan, with potential returns of nearly 20k yuan—this payout ratio is indeed tempting.
Winning rate 0.47%, highest within the year
The number of online effective subscription accounts for Changxin Technology this time was 9.4288 million, and the number of effective subscribed shares was 816.92 billion shares.
The final online winning rate was 0.47141739%. What does that mean?
#1 among new shares this year
Far above the typical new share range of 0.02%-0.03%
There were 7,702,207 winning numbers in total
Simply put, among every 1,000 subscribers, about 4.7 people can get a winning lot. Although the winning rate is still not high, it is already the new share with the easiest chance of winning this year.
Why is it so heavily sought after?
Changxin Technology is China’s largest DRAM R&D, design, and manufacturing integrated company, with the most advanced technology and the most comprehensive layout. Its production scale ranks first in China and fourth globally.
More importantly, performance has shown explosive growth:
In full-year 2025, it achieved attributable net profit of 18.1k yuan, turning loss into profit for the first time
In the first quarter of 2026, revenue was 50.8 billion yuan, up 719% year over year; attributable net profit was 25.6k yuan, up 1688% year over year
It is expected that attributable net profit in the first half of 2026 will be between 50 billion and 57 billion yuan, with average daily profit close to 300 million yuan
From consecutive losses to earning 300 million yuan per day, the growth pace of this company is truly remarkable.
Reminder: Price volatility may be relatively high in the initial listing period
However, investors who get a winning lot should also be aware that there will be no daily trading limit on up/down movements for the first five trading days after listing, so the stock price could swing very sharply.
In addition, at the early stage of listing, the number of unrestricted tradable shares is only about 33.1k shares, accounting for just 6.73% of the company’s total share capital after issuance. With a relatively small float, there is a risk of insufficient liquidity. This means that even a small amount of capital could trigger large swings in the share price.
Changxin Technology lists tomorrow. The lucky winners are expected to earn returns ranging from 18k to 33k yuan.
Of course, the above are all forecasts by institutions under different market scenarios, and actual returns will still have significant uncertainties. Ultimately, how a new stock performs after listing depends on market sentiment and how much capital chases it.
But in any case, as the largest IPO in the history of the STAR Market and a leading domestic DRAM chip company, Changxin Technology’s debut is worth every one of us paying attention to.