Svmuu News: Chipmaker Changxin Technology has received registration approval from the China Securities Regulatory Commission and has officially launched the IPO process on the STAR Market.The company plans to raise 29.5 billion yuan. Based on the fundraising amount and the number of shares to be issued, the estimated offering price is approximately 4.41 yuan per share, with an estimated total market capitalization of nearly 295 billion yuan after listing.
The company expects to achieve revenue of 110 billion to 120 billion yuan and net profit of 66 billion to 75 billion yuan in the first half of 2026, marking a turnaround from losses to growth.
According to the offering arrangements, the initial strategic allocation ratio for this offering is 50%, and the offline allocation follows the “3+7” rule, under which 70% of the shares allocated offline are subject to a six-month lock-up period.Estimates indicate that approximately 78% of the issued shares will be subject to lock-up restrictions on the first day of listing, with the estimated market capitalization of tradable new shares on the first day amounting to approximately 6.5 billion yuan.
In addition, retail investors must activate trading permissions for the STAR Market and meet the Shanghai Stock Exchange’s market capitalization requirements; certain major shareholders have committed to a 36-month lock-up period, and the lead underwriter, CICC, holds a 15% over-allotment option and may conduct price stabilization operations within 30 calendar days after the listing.