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According to the announcement from the Shanghai Stock Exchange, Yushu Technology has released the announcement of the results of its initial public offering and listing on the Sci-Tech Innovation Board, as well as the prospectus for the initial public offering and listing on the Sci-Tech Innovation Board. It disclosed that the online and offline subscription payment work has been completed, and after the adjustment mechanism was activated, the final number of shares issued offline was 22,650,148 shares, accounting for approximately 70% of the number of shares issued after deducting the final strategic placement. The final number of shares issued online was 9,707,000 shares, accounting for approximately 30% of the number of shares issued after deducting the final strategic placement.In addition, before this issuance, the actual controller of Yushu Technology, Wang Xingxing, directly held 86,714,964 shares of the company, controlling a total of 34.763% of the shares. Through the arrangement of special voting rights, the proportion of voting rights controlled by Wang Xingxing in the company was 68.7816%. After this issuance, the proportion of voting rights controlled by Wang Xingxing will decrease to no more than 65.309%.

Tencent Holdings fell 4.46%, with a market value of 4 trillion Hong Kong dollars, approximately 3.44 trillion yuan. Changxin Technology's closing market value today is 3.5 trillion yuan, surpassing Tencent Holdings to become the largest listed company by market value in China.

According to on-chain analyst Yu Jin's monitoring, a certain whale established a short position the day before Changxin Technology (CXMT) went public, and has held the position for about half a month without closing it. Currently, the scale of the short position is approximately 22.86 million USD, with an opening price of about 6.5 USD.During the holding period, this address has paid approximately 3.4 million USD in funding fees, while the unrealized loss on the short position is about 4 million USD, resulting in a total loss of approximately 7.4 million USD.Yu Jin stated that even if the price of Changxin falls back to its opening price of 6.5 USD, this address will still have to bear the high funding fee costs incurred during the holding period.

Lianxin Bank stated that the CPI report for July released on Wednesday and the PPI report on Thursday may have a greater impact on the Federal Reserve's decision than employment data. Economists expect the year-on-year increase in CPI to drop from 3.5% in June to 3.4%. Bill Adams, the chief economist at Lianxin Bank, pointed out that if the data develops as expected, it will support the Federal Reserve's decision on September 16, and the inflation data for July will have a greater impact on the decision than this month's employment report.

According to reports from Fast Technology, Changxin Memory's 17nm DDR5 chip yield has surpassed 90%, which is only about 2 percentage points lower than Samsung's same-generation products at 92% to 93%, marking a technical indicator that has entered the global first tier. Several major PC manufacturers have completed certification for Changxin DRAM chips around mid-year and have begun to incorporate them in small batches into certain laptops.The strategies adopted by different brands show significant differences: Dell has completely banned the use of Changxin chips; HP restricts their use to the mainland China market; Acer and ASUS have incorporated them into models aimed at the mainland China and emerging markets. Currently, the impact of Changxin products on the overall market prices of the three major memory giants remains limited, mainly because Samsung, SK Hynix, and Micron are currently more inclined to supply LPDDR5, while Changxin's current strategic focus is on expanding DDR5 shipments. Executives from PC companies have stated that the three major manufacturers hold over 90% of the global DRAM market share, and large-scale adoption must be approached with high caution. Currently, the number and usage of models using Changxin chips are quite limited.

According to The Wall Street Journal, Apple is testing memory chips from the Chinese DRAM manufacturer Changxin Storage (CXMT), planning to apply them to product lines such as the iPhone and MacBook. The background of this move is the AI demand driving up global memory prices; Apple has previously lobbied the U.S. side, stating that the current pricing from Korean and American suppliers is "unsustainable." The report states that Apple is seeking approval from the White House to conduct business with Chinese chip suppliers. Currently, the U.S. allows the purchase of commercial off-the-shelf chips but restricts customized products.Changxin Storage has recently rapidly expanded its market share, with second-quarter revenue growing more than 8 times year-on-year, and its global DRAM market share rising to 7%, completing its IPO on the Science and Technology Innovation Board last month. Meanwhile, PC manufacturers such as HP and Acer have begun using Changxin Storage memory chips in some devices sold in non-U.S. markets to alleviate supply pressure. If Apple ultimately reaches a procurement agreement, it may face political resistance from Washington.

According to South Korean media NATE, the Korea Regulatory Reform Committee has proposed amendments to the enforcement decree of the Specific Financial Transaction Information Act, excluding minor violations from the qualification restrictions for major shareholders of Virtual Asset Service Providers (VASP).This move has sparked discussions in the market regarding exchange mergers and acquisitions, the entry of new businesses, and the fairness of regulation. The proposal to relax restrictions also involves issues related to the boundaries of the enforcement decree's authority.

On August 7, Wang Xingxing, Chairman of Yushu Technology, stated during an online roadshow that entering the capital market is a new starting point for the company. In the future, it will continue to deepen the research and development of core technologies for general embodied intelligent robots and their industrial application, while actively exploring more product forms such as humanoid robots, quadruped robots, and mechas. He emphasized that the embodied intelligence industry is still in its early development stage, and the generalization capabilities of robots need to be improved collectively across the industry. The company will continue to tackle key hardware and software technologies such as large embodied models, scenario data collection, reinforcement learning, and self-research of core components.According to previous news, Yushu Technology's IPO issuance price is 150.80 yuan per share, with an issuance market value of approximately 60.9 billion yuan, planning to publicly issue 40.4464 million shares, accounting for 10% of the total share capital after issuance. In the strategic placement, DeepSeek was allocated 933,400 shares (subscription of 141 million yuan, lock-up period of 36 months), and Shanghai Qishan Investment, a subsidiary of Tencent, was allocated 903,300 shares. Online and offline subscriptions will begin on August 10. Wang Xingxing revealed that the company has achieved the world's number one shipment volume for humanoid robots by 2025, with net profit rapidly increasing after excluding non-recurring items.

Yushu Technology disclosed its issuance announcement for the Sci-Tech Innovation Board on August 6, determining the issuance price at 150.80 yuan per share, with a total issuance of 40.4464 million shares, accounting for 10% of the total share capital after issuance, raising approximately 6.099 billion yuan, corresponding to a market value of about 60.99 billion yuan. Founder Wang Xingxing holds a total of 33.36% of the shares directly and indirectly, corresponding to a net worth of approximately 18.312 billion yuan, a significant increase from 6.69 billion yuan when he appeared on the New Fortune Rich List in 2025.The company has established two employee stock ownership plans to participate in strategic allocation, with a total allocation of 1.8004 million shares, covering 171 core employees. Among them, Plan 1 covers 161 middle-level backbones, and Plan 2 covers 10 management and core technical leaders, with a maximum lock-up period of 36 months. Nine strategic investors have collectively been allocated 8.0893 million shares, accounting for 20% of the total issuance, among which DeepSeek was allocated 930,000 shares, and Shanghai Qishan Investment, a subsidiary of Tencent, was allocated 903,300 shares. Central enterprises in the energy and communication sectors, such as China Petroleum, Southern Power Grid, and Tianyi Capital, are also joining in. Online and offline subscriptions will begin on August 10.

According to South Korea's Digital Daily, Apple has recently negotiated with Changxin Memory Technologies (CXMT) on the supply prices of mobile DRAM such as LPDDR5X to reduce costs for the next generation of iPhones and smart devices, but was rejected. Changxin Memory insists on maintaining a price level comparable to or even higher than that of Samsung Electronics and SK Hynix, breaking Apple's usual bargaining advantage as an end manufacturer.The report analyzes that Chinese terminal companies such as Huawei and Xiaomi have locked in a large amount of Changxin Memory's production capacity through long-term high-price contracts, providing a solid price defense line in the domestic market. Meanwhile, Samsung Electronics and SK Hynix are facing reduced supply of general DRAM due to the continuous expansion of HBM capacity, combined with Changxin Memory holding the price floor, significantly alleviating the shipping pressure and price decline risks for Korean manufacturers in the general DRAM sector, allowing them to focus resources on high-value AI storage products such as HBM4, LPCAMM2, and eSSD. Industry insiders expect that in the second half of the year, the operating profit margins of the Korean semiconductor camp and global market pricing power will further strengthen.

According to Counterpoint Research data, in the second quarter of 2026, the global DRAM market saw Samsung Electronics regain the top position with a 39% market share, significantly rebounding compared to the same period last year; SK Hynix's share fell from 39% in the same period last year to 26%, despite a 214% year-on-year revenue growth; Micron followed closely with a 25% share, only 1 percentage point behind SK Hynix. Counterpoint pointed out that Samsung achieved a rebound driven by the growth in general DRAM demand and the expansion of its share in the HBM sector.General DRAM prices rose significantly month-on-month, while the average price of HBM declined year-on-year due to the drop in HBM3E prices and delays in HBM4 shipments. Changxin Storage saw a 716% year-on-year revenue growth, benefiting from strong domestic general DRAM demand and capacity expansion; Nanya Technology grew by 690% year-on-year, benefiting from the expansion of DDR/LPDDR4/5 supply. Counterpoint predicts that with the shipments of NVIDIA Vera Rubin and AMD Instinct MI455X, HBM4 shipments will significantly increase in the second half of the year, and the improvement in product mix is expected to support a rebound in HBM prices.

According to Reuters, informed sources say that Changxin Storage is considering building a second 12-inch DRAM wafer fab in Beijing's Yizhuang and is negotiating financing with the Beijing Economic and Technological Development Zone and several state-owned technology companies. The company is seeking at least 60 million yuan (approximately 8.9 million USD) in support, but negotiations are still in the early stages, and the scale and structure of the financing may be adjusted.The proposed factory will be located at the site of Changxin Storage's existing DRAM wafer fab in Beijing. The planned production capacity and total investment for the project have not yet been determined, while building a fab capable of producing advanced DRAM typically requires over 10 billion USD. Currently, Changxin Storage operates two 12-inch DRAM wafer fabs in Hefei and one in Beijing, each with a monthly production capacity of about 100,000 wafers. Changxin Storage is also building new factories in Shanghai and Hefei, and once the related projects are fully operational, the company's monthly production capacity could double to over 600,000 wafers.This expansion comes as demand for storage chips is driven by AI infrastructure, data centers, and consumer electronics entering an upward cycle. The company completed an 8.6 billion USD IPO last month, marking the largest fundraising for a semiconductor company listed in mainland China, and its stock price has risen by 13% since going public. Changxin Storage is currently the fourth largest DRAM manufacturer in the world, but Samsung Electronics, SK Hynix, and Micron together still account for nearly 90% of the global market share in the first quarter. Beijing and Shanghai are also providing funding and other support to Changxin Storage to gain economic and strategic benefits from its expansion.

According to monitoring by Hyperinsight, the current hourly funding rate for Changxin has dropped to -0.2430%. A negative rate means that shorts pay longs; based on the current rate, the simple annualized return is approximately 2129%.Calculating with a position of $10,000, shorts need to pay about $24.3 per hour, while longs receive an equivalent income; if the rate is maintained for 24 hours, the corresponding funding fee is about $583.3.The largest long position starting with 0x9a8 is the main beneficiary of this round of negative rates. Records show that since the morning of July 15, it has completed 183 funding fee settlements for CXMT, with a cumulative net income of about $991,400, achieving a return rate of about 45.9% on the initial capital.This whale currently holds a leveraged long position of 1,633,200 CXMT at 5 times, with a position value of about $12,742,000 and an average entry price of $6.6156. CXMT is currently priced at $7.80, with an unrealized profit of about $1,938,000 (89.7%), and the liquidation price is only $0.507.Based on the current position and a static rate of -0.2430%, this whale can earn about $31,000 in funding fees in the next hour; if maintained for 24 hours, this corresponds to about $743,000.This whale currently still has 7 buy orders not labeled as "only reducing positions" between $6.01 and $6.41, planning to continue buying 98,000 CXMT, with a nominal amount of about $609,000, and has not chosen to cash out the existing long position.

Changxin Technology has attracted significant attention from the market following its listing, with analysts showing a huge divergence in their future value assessments. Data shows that the most optimistic analysts believe that Changxin Technology's market value could reach $1.1 trillion in the next 12 months, while the most pessimistic forecasts are around $160 billion. The divergence mainly revolves around whether Changxin Technology can capture market share in the DRAM sector and whether it can break through HBM technology in the future.Bullish analysts believe that China's push for semiconductor self-sufficiency and the domestic DRAM supply-demand gap will help Changxin Technology expand rapidly; bearish analysts, on the other hand, are concerned that the new production capacity in the industry may lead to a decline in DRAM prices from 2027 to 2028, impacting the profitability of the entire storage industry.In its first week of listing, Changxin Technology's stock price rose by 523%. The market is still focused on its HBM technology progress and whether China's domestic DUV lithography technology can help it narrow the gap with Samsung, SK Hynix, and Micron.

Roundhill Memory ETF (DRAM) has included CXMT (Changxin Technology) in its holdings, with a weight of 2.52%.The DRAM ETF focuses on memory chip companies. As of August 2, the top three holdings of this ETF are Samsung Electronics, Micron Technology, and SK Hynix, with weights of 26.39%, 24.54%, and 22.77%, respectively. Other major holdings include Seagate Technology, Western Digital, SanDisk, Kioxia, Nanya Technology, and Zhaoyi Innovation.

According to monitoring by Lookonchain, Changxin Storage has now entered its 5th trading day, with the price rising above 8 dollars, currently favoring the bulls in the long-short battle.A certain whale has shorted 2.9 million Changxin Storage shares, worth 23.54 million dollars, currently facing a loss of 4.67 million dollars and has paid 1.42 million dollars in funding fees; another whale has gone long on 1.63 million Changxin Storage shares, worth 13.27 million dollars, currently making a profit of 2.46 million dollars and has received 823,000 dollars in funding fees.

According to Yu Jin monitoring, after a significant rebound in the storage sector tonight, traders who had been continuously shorting Changxin Storage have once again increased their short positions. This trader established their position the day before Changxin Storage's initial public offering and has gone through multiple rounds of increasing their position. Currently, the value of the short position held in Changxin Storage is approximately 22.26 million USD, with an unrealized loss of about 4.06 million USD.

Caixin published an article titled "The Collapsed Balance Sheet of the Boxing Champion," which reveals that for the six individual creditor friends of Zou Shiming and his wife, the funds invested in P2P and virtual currencies are the only amounts that still have the possibility of recovery compared to other losses.Real estate has been sold, luxury goods have been discounted, the boxing gym renovation has been written off, and cross-industry projects have been shut down; these are all irreversible sunk costs. However, P2P and virtual currencies are different: if the platform has not completely liquidated, or if the wallet address can still be traced, there is theoretically room for subrogation. For example, the Beijing procuratorial authorities have successfully recovered over 89 million yuan in illicit funds by using penetrating reviews combined with blockchain big data analysis tools to trace the flow of virtual currencies.