ChangXin Memory Technologies has received approval for its IPO on the STAR Market from the Shanghai Stock Exchange's Listing Committee. The company's prospectus reveals two employee stock ownership plans, benefiting 6,760 individuals, with shares priced as low as RMB 0.108. With a projected valuation exceeding RMB 2 trillion, the IPO could create at least 13 billionaires and thousands of millionaires. Financially, ChangXin reported a revenue of RMB 50.8 billion in Q1 2026, marking a 719% year-over-year increase, and achieved a net profit of RMB 24.76 billion, reversing a previous loss. The company ranked fourth globally and first in China in DRAM market share in 2024. Meanwhile, Yangtze Memory Technologies is also preparing for an IPO, with its NAND flash market share exceeding 10% globally. State-owned capital has significantly supported both companies, with Anhui and Hubei holding substantial shares in ChangXin and YMTC, respectively.