Changxin Storage's market capitalization reached US$540.5 billion, second only to Intel

Comparing news, Changxin Storage is the largest manufacturer of DRAM memory chips in China. As of midday trading on Friday, the company's stock price had risen 4% to reach US$540.5 billion, second only to Intel's US$552.6 billion and higher than Tencent's US$505.8 billion, ranking 24th in LSEG's global company market capitalization ranking.

Changxin Storage, headquartered in Anhui, completed an initial public offering of approximately US$8.6 billion on July 27. The closing price of the company on the first day of listing rose 466% from the issue price, making it the highest market capitalization among listed companies in mainland China; Intel's stock price declined during the same period, and Tencent's stock price fell by about 26% during the year.

Changxin Storage is currently the fourth largest DRAM producer in the world, ranking behind Samsung Electronics, SK Hynix, and Micron. Nomura expects its share of global DRAM production to rise from about 10% to around 18% by the end of 2028; Bernstein analysts say this IPO will provide more cash for the company's capital expenses. (Business Insider)