On July 7, the China Securities Regulatory Commission (CSRC) released the "Report on the Filing of the Initial Public Offering and Listing Counseling for Changxin Technology Group Co., Ltd." The report stated that China International Capital Corporation and CICC Securities Co., Ltd. will serve as the counseling institutions for Changxin Technology.
Changxin Memory is wholly owned by Changxin Technology Group Co., Ltd. According to its official website, Changxin Memory is an integrated memory manufacturer specializing in the design, research and development, production, and sales of dynamic random access memory (DRAM) chips. It was established in 2016.
Changxin Technology Group Co., Ltd. is located in Hefei, Anhui. The company has a registered capital of 60.19 billion yuan, with no controlling shareholder. The largest shareholder is Hefei Qinghui Jiadian Enterprise Management Partnership (Limited Partnership), which is state-owned and directly holds 21.67% of the company's shares.
In early March this year, Changxin Technology Group Co., Ltd. secured the largest equity financing deal in the domestic market this year — 10.8 billion yuan — at a pre-money valuation of nearly 140 billion yuan. The investors include existing shareholders such as Meigui Innovation, as well as institutions with Hefei state-owned capital backgrounds such as Hefei Industrial Investment One and CCB Financial Assets continuously investing. According to the Hurun Global Unicorn List, a valuation of 140 billion yuan would place Changxin among the top ten unicorns in China.
This article is an exclusive piece by the Observer, and any reproduction without permission is prohibited.
Original: https://www.toutiao.com/article/7524302627790881326/
Statement: This article represents the views of the author. Please express your opinion by clicking on the [Up/Down] buttons below.