长鑫存储IPO！

Core Viewpoint - The article discusses the upcoming IPO of Changxin Storage, a leading Chinese memory chip manufacturer, aiming for a valuation of up to 300 billion RMB and plans to raise 20 to 40 billion RMB through the offering [2][4]. Group 1: IPO Plans - Changxin Storage plans to conduct its IPO in Shanghai as early as the first quarter of next year, with a target valuation of 300 billion RMB [2]. - The company aims to raise between 20 billion to 40 billion RMB through this IPO, with the prospect of releasing the prospectus to investors as soon as November [4]. - Changxin Technology, the parent company of Changxin Storage, completed its IPO counseling work, with a registered capital of 60.19 billion RMB and a pre-IPO valuation of approximately 140 billion RMB as of March 2024 [5]. Group 2: Production and Market Position - Changxin Storage is constructing an HBM backend packaging plant in Shanghai, with an initial monthly production target of about 30,000 wafers, which is roughly one-fifth of South Korea's SK Hynix's output [4]. - The company aims to start mass production of the fourth generation high-bandwidth memory (HBM3) chips by 2026, positioning itself as a strategic player in the global DRAM market, which has been dominated by Japanese, Korean, and American firms [4].