Opens down 7.7%. The market is re-pricing ChangXin, not denying value

ChangXin Technology opened down 7.7%. Many investors’ first reaction was “the myth is broken,” but when you factor in the record-breaking surge on its first day of listing, this pullback actually looks more like a normal correction after capital reshuffling. Previously, ChangXin’s first-day gain was enormous, with trading volume exceeding one trillion yuan, drawing in a large amount of short-term speculative funds. Now that profit-taking has been realized, it naturally puts pressure on the stock price.

For a homegrown DRAM industry leader, what truly determines long-term value is not the market action over just a few days after the listing, but whether future technological breakthroughs, capacity expansion, and profitability can continue to be delivered. With the ongoing development of AI servers, high-performance computing, and smart devices, demand for storage chips continues to rise, and the industry’s long-term logic has not changed because of a one-day adjustment.

On the other hand, a high valuation also means the market is placing great expectations on the company’s future growth. Once short-term sentiment cools, the stock price will naturally experience a return to value. Such a correction can actually help cool overexuberant market emotions and give institutional investors a chance to reassess the company’s reasonable valuation.

For ordinary investors, rather than focusing on whether the stock is up or down on a single day, it’s better to watch the company’s order growth over the next few quarters, the progress of advanced process technology, and the rollout of high-end products such as HBM. If the fundamentals continue to improve, then a short-term 7.7% drop may only be a shakeout on the path to growth, not a trend reversal. In the end, the capital market still rewards companies that keep creating value. #长鑫开盘跌7.7%