BlockBeats News, July 28th - Several South Korean media outlets believe that the recent sharp drop in the South Korean stock market is being interpreted as the impact of the IPO of China's largest semiconductor company, ChangXin Memory Technologies. The market is concerned that ChangXin Memory Technologies will use the funds raised from the stock market to catch up with semiconductor giants such as Samsung Electronics and SK Hynix. This worry has spread, leading to a downturn in investor sentiment.

Z-Ben Advisors analyst Peter Alexander stated that, following the development path of the steel and new energy vehicle industries, ChangXin Memory Technologies will quickly seize a share of the low-end storage chip market and eventually challenge the global storage industry's monopoly position held by Samsung Electronics, SK Hynix, and Micron Technology.