Chanxin Technology's IPO Approval May Create 13 Billionaires Among 6,760 Employee Shareholders

According to BlockBeats, on June 1, Chanxin Technology received approval from the Shanghai Stock Exchange's listing committee for its Science and Technology Innovation Board (STAR) IPO. The company has implemented two phases of employee stock ownership plans benefiting 6,760 individuals, with the second phase granted at just 0.108 yuan per share. Based on market expectations of a valuation exceeding 2 trillion yuan, the IPO may create at least 13 billionaires and thousands of multimillionaires among existing shareholders.

In the first quarter of 2026, Chanxin generated 50.8 billion yuan in revenue, up 719% year-over-year, with net profit attributable to parent company reaching 24.76 billion yuan, swinging from a loss to profitability. The company ranked fourth globally and first domestically in DRAM market share in 2024.