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JUMBO SHEEN
INVESTMENT
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Today, ChangXin Technology Group Co., Ltd. (“ChangXin Technology”, Stock Code: 688825), an investee company of JUMBO SHEEN Fund, was officially listed on the STAR Market of the Shanghai Stock Exchange, marking a vital milestone in the company’s development. JUMBO SHEEN Fund completed its investment in ChangXin Technology back in 2021, and this forward-looking investment has now yielded remarkable phased results.
The IPO offering price of ChangXin Technology stood at RMB 8.66 per share, with an initial offering volume of 6.688 billion shares and an implied offering market value exceeding RMB 579 billion. The total proceeds raised were approximately RMB 57.9 billion (prior to the full exercise of the over-allotment option).
At the close of trading, ChangXin Technology settled at RMB 49 per share, representing an increase of over 465.82%. Its daily trading turnover surpassed RMB 1400 billion, setting a new all-time record for single-stock daily turnover in A-share market. The closing total market capitalization reached roughly RMB 3.28 trillion, making it the largest listed firm by market cap on the A-share market at present.
【Forward-looking Layout and In-depth Judgment: Precisely Capturing the Core Domestic Memory Track】
In 2021, riding the long-term trend of domestic substitution in the semiconductor industry and identifying massive growth opportunities in China’s memory chip sector, JUMBO SHEEN Fund completed its investment in ChangXin Technology. The company’s successful listing on the STAR Market represents a major payoff for this forward-looking investment anchored on fundamental industrial trends.
The successful IPO once again validates the effectiveness of JUMBO SHEEN Fund’s strategy of focusing on hard-core semiconductor technology and adhering to long-term value investing. Going forward, JUMBO SHEEN Fund will remain committed to investing in hard technology. Leveraging its in-depth research capabilities and long-term patient capital, the Fund will continue to discover outstanding enterprises in semiconductors and cutting-edge technology sectors. It will keep empowering Chinese tech firms with global competitiveness and contribute steadily to the high-quality development of China’s integrated circuit industry.
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