Core Viewpoint - The article highlights the progress of Changxin Technology in the semiconductor industry, particularly its IPO preparation and significant market position in DRAM production [3][6]. Group 1: IPO Progress - Changxin Technology has completed its IPO counseling work, with the initial counseling announcement signed by 34 personnel from the underwriting institutions [3]. - The company initiated its IPO counseling on July 7, three months prior to the report [3]. Group 2: Company Valuation and Ownership - As of now, Changxin Technology's valuation exceeds 140 billion yuan (approximately 14 billion USD) [3]. - The registered capital of Changxin Technology is 601.9 billion yuan, with a paid-in capital of 536.33 billion yuan [5]. - The largest shareholder is Hefei Qinghui Collecting Enterprise Management Partnership, holding 21.67% of the shares [3][5]. Group 3: Market Position and Production Capacity - Changxin Storage, a wholly-owned subsidiary of Changxin Technology, is the largest and most advanced DRAM IDM (Integrated Device Manufacturer) in China [3][6]. - By the end of 2025, Changxin Storage's production capacity is expected to reach 300,000 wafers per month, representing a nearly 50% year-on-year increase [3]. - According to Counterpoint, Changxin Storage's market share for DDR5 is projected to rise from 1% at the beginning of the year to 7% by year-end, while LPDDR5 share is expected to increase from 0.5% in Q1 2025 to 9% by year-end [3]. Group 4: Product Development and Applications - Changxin Technology was established in June 2016 and successfully launched 8Gb DDR4 memory chips in 2019, breaking the long-standing monopoly of international giants [6]. - In 2023, the company introduced LPDDR5 series products aimed at mid-to-high-end mobile devices, with applications in smartphones, PCs, servers, and AI computing [6].