| Mobile Web

Search results for yuan

Industry

China\'s CXMT surges 470 percent in Shanghai debut, valued at 715 trillion won

Chinese memory chipmaker ChangXin Technology Group (CXMT) surged about 470 percent on its first day of trading on Shanghai\'s STAR Market, becoming China\'s most valuable listed company. The Hefei-based firm priced its IPO at 8.66 yuan per share and raised 57.92 billion yuan, described as Asia\'s largest IPO this year. Its market value rose to about 3.3 trillion yuan. CXMT plans to invest proceeds in memory wafer production and R&D.

AI & Enterprise

DeepSeek halts second fundraising after leak of founder\'s private remarks

China AI company DeepSeek has temporarily halted its second fundraising round after private remarks by founder Liang Wenfeng spread outside the company. The firm told some investors it would not proceed with contract signings for the time being, a blockchain outlet reported. DeepSeek had moved to a follow-on round only weeks after completing a first raise in June, seeking at least 10 billion yuan and valuing the company at at least 480 billion yuan.

Crypto

Chinese AI chip stocks trade first on crypto exchanges as overseas funds seek access

Overseas investors are effectively investing early in Chinese AI semiconductor companies through perpetual futures on cryptocurrency exchanges, an analysis said. With direct access to mainland Chinese equities limited, investors are betting on pre-listing prices via crypto derivatives. Trading has surged ahead of ChangXin Memory Technologies\' planned STAR Market listing. The products allow round-the-clock trading without owning shares and are seen as a way to bypass China’s foreign investment restrictions and perform price discovery before IPO pricing.