Group 1 - The core point of the news is that Changxin Technology Group Co., Ltd. has officially initiated the listing guidance process for its IPO, marking a significant step for this domestic IDM DRAM storage manufacturer [1][3]. - Changxin Technology was established on June 13, 2016, with a registered capital of approximately 6.02 billion yuan [2]. - The company operates in integrated circuit design, manufacturing, and processing, with a primary focus on the research and development of dynamic random-access memory (DRAM) products [2]. Group 2 - The listing is expected to take place on the Sci-Tech Innovation Board, although Changxin Technology has not confirmed this information [4]. - The guidance agreement was signed on July 4, 2023, with China International Capital Corporation and CITIC Securities acting as the listing advisory firms [4]. - The first major shareholder is Hefei Qinghui Jidian Enterprise Management Partnership, holding 21.67% of the shares, while other significant shareholders include state-owned enterprises and private investors such as Alibaba and Zhaoyi Innovation [4]. Group 3 - The latest round of financing for Changxin Technology was disclosed in March 2024, with a total investment of 10.8 billion yuan from multiple investors, leading to a pre-investment valuation of approximately 150 billion yuan [5]. - A senior semiconductor industry investor noted that the domestic chip manufacturers have made significant progress in supply chain localization, which enhances the confidence for Changxin Technology's public listing [5]. - The chairman of Changxin Technology, Zhu Yiming, has a strong educational background and is also the chairman of the A-share listed company Zhaoyi Innovation, which is pursuing a secondary listing in Hong Kong [6].