BlockBeats News, May 27th, Today's News: ChangXin Technology's STAR Market IPO Approved by Listing Committee.As the world's fourth-largest DRAM manufacturer by shipment volume, ChangXin Technology's revenue has entered the ranks of "second only to the top three international leaders," but the scale difference is still clear.

BlockBeats compared ChangXin Technology's financial indicators with international DRAM giants Micron, SK Hynix, and Samsung Electronics as follows:

· Based on the latest quarter's revenue converted to RMB, Micron is about 3.2 times that of ChangXin, SK Hynix is about 4.7 times, and Samsung Memory is about 6.7 times. ChangXin Technology still has a significant gap in revenue compared to top companies.

· In terms of profitability, ChangXin's first-quarter 2026 operating profit margin is 69.7%, higher than Micron's GAAP-calculated 67.6%, and slightly lower than SK Hynix's 71.5%. Benefiting from the uptrend in industry prosperity, the company's profitability can now compete with the top companies.

In addition, ChangXin's prospectus shows that the Q1 revenue growth comes from a triple factor of capacity ramp-up, product structure upgrade, and DRAM price recovery. Since the end of 2025, the mass production of DDR5, LPDDR5/5X, coupled with industry supply and demand tension, has driven a significant improvement in first-quarter revenue and profit margins.

Currently, Micron and SK Hynix have conspicuously surpassed a trillion-dollar market cap. The timing of the IPO of "Domestic Micron" ChangXin Technology can be said to be perfect. In the short term, the market will undoubtedly be enthusiastic after the IPO. However, in the long run, ChangXin's gross margin still lags behind the top three, and in the future, it will need to strive for a larger market share through continuous R&D, innovative product launches, and scale effects improvements.