21世纪经济报道记者 孙燕 继GPU之后，AI引爆的投资焦点正顺延至存储芯片，掀起新一轮IPO热潮。 1月6日晚间，紫光国芯（874451.NQ）公告表示，陕西证监局对该公司报送的向不特定合格投资者公开 发行股票并在北京证券交易所上市辅导备案文件予以受理，该公司自2026年1月5日进入辅导期。 同样在近日，国内最大的DRAM企业长鑫科技的科创板IPO申请已正式获得受理，内存接口芯片企业澜 起科技（688008.SH）也已通过港股IPO聆讯，还有多家垂直细分领域的领军企业正在排队或已处于上 市进程中。 DRAM Fabless厂商冲刺北交所 紫光国芯是国产DRAM设计的领先企业之一，其前身可追溯至2004年成立的德国英飞凌西安研发中心存 储器事业部。 不止紫光国芯，多家存储芯片企业也正推进上市计划。 国内最大的DRAM企业长鑫科技于2025年12月30日披露科创板上市招股说明书，其IPO申请已进入"预 先审阅"流程。该公司在合肥、北京两地共拥有3座12英寸DRAM晶圆厂，根据Omdia，按照产能和出货 量统计，其已成为中国第一、全球第四的DRAM厂商。 同样在2025年12月，证监会官网披露，深圳三地一芯电子股 ...

该公司于2009年被浪潮集团收购并改制更名为西安华芯，后于2015年被紫光集团旗下紫光国微收购，更名为西安紫光国芯。在 2023年完成股份制改制后，紫光国芯于2024年登陆新三板，并于2025年升入创新层。 继GPU之后，AI引爆的投资焦点正顺延至存储芯片，掀起新一轮IPO热潮。 1月6日晚间，紫光国芯（874451.NQ）公告表示，陕西证监局对该公司报送的向不特定合格投资者公开发行股票并在北京证券交 易所上市辅导备案文件予以受理，该公司自2026年1月5日进入辅导期。 同样在近日，国内最大的DRAM企业长鑫科技的科创板IPO申请已正式获得受理，内存接口芯片企业澜起科技（688008.SH）也 已通过港股IPO聆讯，还有多家垂直细分领域的领军企业正在排队或已处于上市进程中。 DRAM Fabless厂商冲刺北交所 紫光国芯是国产DRAM设计的领先企业之一，其前身可追溯至2004年成立的德国英飞凌西安研发中心存储器事业部。 还有存储厂商将目光瞄准了港股。 紫光国芯开发的存储器芯片产品覆盖标准SDR、DDR、DDR2、DDR3、DDR4和移动用LPDDR、LPDDR2、LPDDR4，其中二十 余款产品实现全球量产 ...

Core Viewpoint - The article discusses the transformative impact of technological advancements on China's economy, particularly focusing on the semiconductor industry and the investment strategies of Linxin Investment, which has successfully navigated this evolving landscape over the past decade [2][3][4]. Group 1: Semiconductor Industry Growth - The Chinese semiconductor industry has experienced significant growth, evolving from a nascent stage to a robust sector with substantial investments driving its development [3][4]. - Linxin Investment has played a crucial role in this evolution, participating deeply in the semiconductor sector and witnessing its transformation firsthand [5][6]. Group 2: Investment Strategies and Achievements - Over the past ten years, Linxin has managed nearly 10 billion RMB, investing in over 130 semiconductor projects, with 18 achieving IPOs and total exit amounts exceeding 17 billion RMB [7]. - The firm has adopted various investment strategies, transitioning from mergers and acquisitions to early-stage investments, and focusing on deep industry integration and restructuring [6][7][8]. Group 3: Key Investments - Linxin's notable investments include significant stakes in leading semiconductor companies such as Lanqi Technology and Zhongwei Company, which have yielded substantial returns [12][19]. - The investment in Lanqi Technology, which saw a dramatic increase in market value post-IPO, exemplifies Linxin's successful investment approach [18][19]. Group 4: Evolving Investment Logic - Linxin's investment logic has matured, emphasizing the importance of understanding industry dynamics and identifying potential leaders within the semiconductor space [20][22]. - The firm has developed a dual strategy of early-stage investments and mergers, aiming to capitalize on both emerging technologies and established companies [33][34]. Group 5: Institutional Development - Linxin has undergone significant institutional evolution, transitioning from a small team to a more structured organization capable of managing larger funds and complex investments [40][41]. - The firm has focused on enhancing its fundraising capabilities and operational management to support its growing portfolio and ensure sustainable growth [42][43]. Group 6: Future Outlook - The semiconductor industry is entering a new phase characterized by both overcapacity in low-end products and scarcity in high-end technologies, presenting unique investment opportunities [33][34]. - Linxin aims to leverage these opportunities through strategic acquisitions and investments in innovative technologies, reinforcing its commitment to driving technological advancement in the industry [46][47].