US and Iran Extend Strike Pause as Oman Mediates Hormuz Talks, Crude Falls Below $90
Bloomberg reported that the US paused strikes against Iran for a second night while Iran signaled it was refraining from retaliation and held talks with Oman over the Strait of Hormuz, easing concerns over Middle East energy disruptions. After 13 straight nights of strikes aimed at degrading Iran's ability to attack commercial shipping, the US has held off since late Friday without explanation. Iran's army said Tehran had halted its retaliation. Army spokesman Mohammad Akraminia told state TV that the US may have devised other scenarios but the current situation is not what they desire, warning that if Americans insist on continuing, the geography of the war will expand. Iranian and Omani deputy foreign ministers met in Tehran on Friday and Saturday to discuss maritime navigation through Hormuz. Foreign Ministry spokesman Esmail Baghaei said the talks were constructive and some progress was made, though traffic through the strait remained unchanged. The halt eased concerns over energy supplies. US equity-index futures rallied and Brent crude fell as much as 7.4% to below $90 a barrel before paring losses. US Ambassador to the UN Mike Waltz said on NBC's Meet the Press that he wouldn't say Trump had decided against escalation, adding the president is keeping all options on the table and giving the talks some space. Waltz said talks were ongoing at every level up to the highest level of Iranian and US leadership. Axios reported that Admiral Brad Cooper, the top US commander overseeing the Middle East, recommended stopping strikes because they had reached the limit of their effectiveness and the US had exhausted its list of targets. Waltz denied concerns about depleted Patriot interceptor stocks. Trump said late Friday the US is "locked and loaded" for major strikes but has not decided whether to proceed. White House spokesman Steven Cheung said Trump prefers a diplomatic solution but retains all options.
SK Group Advances Purchase of Former Le Méridien Site in Seoul for SK Hynix Headquarters
SK Group is moving ahead with plans to acquire the site of the former Le Méridien hotel in Seoul’s Gangnam District and build the SK Hynix headquarters there. According to Odaily, the site is about 1 kilometer from Samsung Group’s headquarters, Samsung Town, and SK Group Chairman Chey Tae-won is said to have requested that the building be 5 meters taller than Samsung’s.
China's CXMT Soars 535% in Debut After $9.8 Billion IPO, Largest Onshore Listing
Bloomberg reported that CXMT Corp.'s shares rose 535% when they began trading in Shanghai on Monday, making the memory chipmaker China's largest listed firm onshore. The robust debut came after the company raised 66.6 billion yuan ($9.8 billion) in the second-largest IPO in China's history. Formerly known as ChangXin Memory Technologies, CXMT sold 6.688 billion shares at 8.66 yuan apiece. At its session high of 55.03 yuan, the company is valued at about 3.7 trillion yuan, surpassing all other A-share companies. As the world's fourth-largest DRAM maker, CXMT has emerged as Beijing's best hope of reducing dependence on foreign suppliers in high-bandwidth memory, a critical component for AI data centers. The Hefei-based company is buttressed by retail investor demand, attractive valuations, and state-backed support for markets. The retail portion was 212 times oversubscribed, with individual investors submitting 9.4 million orders for 7.07 trillion yuan worth of shares, about 10 times the retail order book of SpaceX's IPO. Regulators remain cautious about IPO valuations, requiring comparison against peers globally. The IPO price implies 2.4 times book value, a 56% discount to global DRAM peers SK Hynix, Micron and Nanya, and a 77% discount to Chinese chipmakers SMIC and Hua Hong, according to Bloomberg Intelligence.
PRECIOUS METALS | Hong Kong's Gold Net Exports to Mainland Fall to 50.679 Tons in June
Hong Kong's government said Hong Kong's gold net exports to the mainland were 50.679 tons in June, compared with 53.674 tons previously. According to Jin10, Hong Kong's total gold exports to the mainland were 78.147 tons in June, compared with 65.562 tons previously.
Binance Futures Will Add TMFUSDT, TBTUSDT, and BITOUSDT Perpetual Contracts
According to the announcement from Binance, Binance Futures will launch three USDⓈ-M perpetual contracts to expand trading choices on the platform and enhance users’ trading experience. The new contracts are scheduled for 2026-07-27 at 13:30 (UTC) for TMFUSDT, 13:35 (UTC) for TBTUSDT, and 13:40 (UTC) for BITOUSDT. TMFUSDT will be based on Direxion Daily 20+ Year Treasury Bull 3X ETF (NYSE Arca: TMF), TBTUSDT will be based on ProShares UltraShort 20+ Year Treasury (NYSE Arca: TBT), and BITOUSDT will be based on ProShares Bitcoin ETF (NYSE Arca: BITO). Each contract will use USDT as the settlement asset, support 24/7 trading, and offer a maximum leverage of 25x. The minimum trade amounts are 0.01 TMF, 0.01 TBT, and 0.01 BITO, with a minimum notional value of 5 USDT for each contract. The capped funding rate is set at +2.00% / -2.00%, the funding fee settlement frequency is every eight hours, and the interest rate of the funding rate is 0%. The announcement also states that Multi-Assets Mode will be supported for all three perpetual contracts. Binance said the contracts are exempt from the 8.1 adjustment of funding interval rules, meaning the funding interval will not change from every eight hours to every one hour if the previous funding rate settlement reaches the cap or floor. Binance also noted that contract specifications may be adjusted from time to time based on market risk conditions, including funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements. The notice adds that if there is any discrepancy between this announcement and any Futures FAQ, the announcement will be the most accurate and updated reference. The contracts were announced under Binance Exchange Rule 17.
Strait Of Hormuz Traffic Normalization Faces Hurdles As U.S.-Iran Talks Continue
According to CNBC, a temporary pause in hostilities between the U.S. and Iran appeared to hold on Monday after negotiations over a lasting peace ran into fresh obstacles over the weekend. The U.S. military stopped two weeks of strikes on Friday as diplomats sought to give peace talks room to proceed, while Iran has also held back from military operations against regional targets in recent days and said it would reciprocate after a China-led effort to restart stalled diplomatic talks in Pakistan. Saudi military strikes on Iran-backed Houthi targets in Yemen and a reported Ukrainian strike on an Iranian commercial vessel in the Caspian Sea underscored the risk of further escalation. Investors responded to the pause with oil prices falling about 6% early Monday. Analysts said the key economic issue is maritime security and the restoration of toll-free, two-way traffic through the Strait of Hormuz, which remained closed as the U.S. maintained its blockade. Oman has emerged as a key intermediary, with an Omani delegation reportedly in Tehran on Friday and Saturday to seek a provisional arrangement for shipping through the waterway.
Binance to Support Nokia (NOK) Cash Dividend Distribution for NOKB Holders
According to the announcement from Binance, the platform will support the Nokia (NOK) cash dividend distribution via bStocks for NOKB holders. Eligible users will receive dividends in the form of NOKB bStocks, with the net cash dividend reinvested after applicable withholding taxes, fees, costs, and other deductions into additional units or fractions of the same underlying security. For on-chain holders of NOKB, the dividend will be delivered through a multiplier adjustment. Binance said general trading of NOKB/USDT will not be affected by the distribution. The announcement also states that users with NOKB holdings on the record date snapshot at 2026-07-28 00:00 (UTC) will be eligible for the dividend distribution. Binance added that dividends earned from assets held in other accounts will be credited to the Spot account, including but not limited to Savings Account and Margin Account. The exchange said it will handle the technical requirements for users involved in the event. At 2026-07-27 23:45 (UTC), Binance will suspend the Token Conversion service for 1:1 swaps between NOK stock and NOKB bStocks. At the same time, deposits and withdrawals of NOKB tokens will also be suspended, and Binance said users should allow enough time for deposits to be fully processed before that time. Deposits, withdrawals, and the Token Conversion service for NOKB will resume when the distribution is completed, and no further announcement will be posted. Binance Convert will also pause the conversion of NOKB and all associated pairs at 2026-07-27 23:45 (UTC). The announcement says reinvestment and distribution of dividends will occur after deduction of withholding tax.
Binance Launches Word of the Day Game on Binance AI Agent Theme
According to the announcement from Binance, the exchange is launching a new Word of the Day (WOTD) game with the theme “Binance AI Agent.” The activity period runs from 2026-07-27 00:30 (UTC) to 2026-08-02 23:59 (UTC). Participants who complete 5 Words can unlock a share of 15 BNB in rewards. Binance said the game is an educational word-guessing activity designed to help users build crypto vocabulary and follow market developments. Eligible users may play up to two WOTD games per day during the activity period. Those who answer at least five questions correctly will share a 12 BNB reward pool based on their proportion of correct answers among all eligible users, with a maximum reward cap of 0.01 BNB per user. Binance also said users who achieve at least five correct answers and join the WOTD game on five or more separate days during the activity period will be eligible to share an additional 3 BNB reward pool equally. All rewards are scheduled to be distributed by 2026-08-16 23:59 (UTC) directly to users’ Rewards Hub. The announcement also outlined access to a second WOTD game, which becomes available after users click the “Get A New WOTD” button, share the featured link on social media, and have the shared link clicked by a logged in user. In addition, new users who register for a Binance account using the “WOTD” referral code or the referral link during the activity period will receive 10% off Spot trading fees. These new users may also qualify for additional welcome rewards by completing tasks in the Rewards Hub within 14 days after registration.
Bitcoin Spot ETFs Post $33.79 Million Net Inflow Last Week
Bitcoin spot ETFs recorded a net inflow of $33.79 million during the trading days from July 20 to July 24, Eastern Time, according to SoSoValue data. According to Odaily, Grayscale's Bitcoin Mini Trust BTC posted the largest weekly net inflow at $85.78 million, bringing its cumulative net inflow to $2.65 billion. Ark & 21Shares ETF ARKB followed with a weekly net inflow of $78.73 million and cumulative net inflows of $1.33 billion. BlackRock's ETF IBIT saw the largest weekly net outflow at $95.90 million, while its cumulative net inflow stood at $60.39 billion. As of press time, Bitcoin spot ETFs held $77.82 billion in net assets, with an ETF net asset ratio of 6.05% and cumulative net inflows of $51.39 billion.
Naver, Nvidia Agree On Global AI Factory Partnership
According to Yonhap, Naver Corp. has agreed to form a strategic partnership with U.S. chip giant Nvidia Corp. to jointly build a global artificial intelligence factory. Under the deal, Naver will lead the site acquisition, construction and operation of the data center, while Nvidia will supply graphics processing units. Naver said the project is designed to capture opportunities in the global AI computing market and create new revenue streams. The company plans to expand the initial NVIDIA DSX AI factory at the GAK Sejong data center from 55 megawatts to 200 megawatts by 2028, with a longer-term goal of extending the infrastructure outside the Asia-Pacific region. Nvidia plans to invest about US$1 billion by buying Naver common shares through a third-party private placement. Brookfield is expected to provide $9 billion worth of computing infrastructure through project financing, and Naver will name the Toronto-based asset manager as preferred bidder for the next 12 weeks as talks continue to finalize the agreement.
Michael Saylor Posts Bitcoin Tracker Update Ahead of Possible Strategy Disclosure
Michael Saylor, founder and executive chairman of Strategy, has again posted Bitcoin Tracker-related information. According to ChainCatcher, Strategy has typically disclosed changes in its Bitcoin holdings the day after such posts.
AI TRENDS | AMD to Set Up AI Research Center in South Korea
AMD will build an artificial intelligence research center in South Korea and create an open AI infrastructure ecosystem. According to Jin10, South Korea's Ministry of Science and ICT said it signed an AI chip ecosystem cooperation memorandum of understanding with AMD in San Francisco on the 23rd. AMD plans to set up an AI excellence center in South Korea to support technical cooperation among South Korean companies, universities, and research institutions, AI chip software development, computing technology verification, and joint research. It will also promote cooperation with South Korean local AI chip companies. The memorandum also includes building heterogeneous AI computing infrastructure that connects AMD's CPUs and GPUs with AI chips (NPUs) that South Korean companies have strengths in for inference. The two sides also plan to build an open AI computing ecosystem, encourage joint participation by South Korean companies, and cover memory, networking, servers, and software.
Bitcoin Is Back Above $65,000 as U.S. and Iran Hold Fire, Oil Drops 5%
Bitcoin rose back above $65,000 as the U.S. and Iran held fire, while oil fell 5%, according to CoinDesk, with ether outperforming bitcoin and signaling the potential start of an altcoin rally.
Stripe Partnership Lead Connor Fitzgerald Leaves Company
Stripe partnership lead Connor Fitzgerald said on X that he left the company this week. According to Foresight News, during his time at Stripe, he helped secure partnerships with Visa and others to support wallets and fintech companies issuing Visa cards backed by stablecoins.
Live Updates: Ether Leads Crypto Higher, China’s Gold Imports Surge
China’s gold imports rose for a third straight month in June to about 173 tonnes, the highest since March 2024, as retail buyers also accumulated bullion through bank-led savings plans. Ether led crypto higher while bitcoin held as a defensive anchor, according to CoinDesk, with analysts saying the market may stay range-bound as macro and earnings catalysts loom.
AT&T Starts Five-Part Euro and Pound Bond Offering
AT&T has started a five-part bond offering denominated in euros and pounds. According to Jin10, people familiar with the matter said the company is issuing four euro bonds with maturities of 4 years, 8 years, 12 years, and 19 years, as well as a 26-year pound bond. The bonds are expected to be priced later in the day. Barclays, Citigroup, Goldman Sachs Group, and Wells Fargo Securities are managing the offering.
Ether Leads Crypto Higher as Ether-Bitcoin Ratio Hits Three-Month High
Ether-bitcoin ratio hit 0.03, its highest since late April, and traded above its 200-day simple moving average for the first time since January. Ether has gained more than 20% since the June 6 sell-off eased, according to CoinDesk, while bitcoin still accounts for 59% of total crypto market capitalization.
KOSPI Turns Lower as Samsung Electronics, SK hynix Weigh on Seoul Stocks
According to Yonhap, South Korean stocks turned lower late Monday morning as major chip shares declined despite eased Middle East tensions. The benchmark Korea Composite Stock Price Index (KOSPI) fell 55.63 points, or 0.83 percent, to 6,634.99 as of 11:20 a.m. after opening 1.73 percent higher. Foreign investors sold nearly 1.7 trillion won, outweighing a combined 1.6 trillion won in buying by retail and institutional investors. Samsung Electronics slipped 0.6 percent and SK hynix lost 0.8 percent, while Samsung Electro-Mechanics fell 1.06 percent and SK Square sank 5.59 percent. SK innovation dropped 9.15 percent and Hanwha Aerospace retreated 8.17 percent. The won was trading at 1,468.1 to the U.S. dollar, down 9.6 won from the previous session.
Shiba Inu Team Says OG Culture Never Left As SHIB Rallies
Shiba Inu’s team said on X that “OG culture never left, neither did SHIB,” framing the token’s recent rally as evidence that early meme coins are regaining attention. According to BeInCrypto, crypto commentator David Gokhshtein said SHIB’s move over the past two days made him more bullish and suggested an OG revival across meme coins. SHIB trades near $0.00000507, up almost 22% over the past week and 19% over the past 30 days, but down 6.08% over the past 24 hours.
STOCKS | JPMorgan To Launch Five Warrants On Zhongji Xuchuang
JPMorgan said it will launch five warrants on Zhongji Xuchuang (3308), which is due to list on Thursday (30th) alongside the underlying stock, according to Ming Pao. The bank said the first batch of call warrants on the AI-related stock will have a wide strike-price range of HK$1,433 to HK$3,208, reflecting the relatively high volatility of AI-related shares and offering investors more choices for different risk appetites and trading strategies.
Crypto markets steadied as Brent crude plunged 7% after the U.S. and Iran paused Strait of Hormuz strikes, lifting equities and DeFi tokens while bitcoin held near $65,000 ahead of a pivotal Fed decision Wednesday. The move followed easing geopolitical tensions, according to CoinDesk, as traders positioned for the Federal Reserve's next policy decision.
GEOPOLITICS | Oil Falls, Asian Stocks Rise as Iran Tensions Ease
Oil fell and Asian stocks gained as the US and Iran held back from retaliatory strikes, easing fears of disruption to Middle East energy supplies after a recent escalation in the conflict, according to Bloomberg. The moves reflected a softer risk tone as traders assessed the lower chance of immediate fallout for oil markets and regional equities.
STOCKS | AT&T Opens Books on Five-Part Euro, Sterling Bond Offering
AT&T Inc. has opened books on a five-part euro and pound sterling bond offering, according to Bloomberg. The sale adds to the telecom company’s financing activity as it taps debt markets in Europe and the U.K.
STOCKS | Brent Crude Drops More Than 7% as Fed Hike Odds Fall to 30.5%
The U.S. and Iran paused strikes over the Strait of Hormuz, helping ease market pressure and pushing Brent crude down more than 7% to around $87. According to NS3.AI, CME Group's FedWatch tool showed the probability of a Fed rate increase fell to 30.5% from 37.4% at Friday's close. The CoinDesk 20 Index rose 1.6% over 24 hours as risk assets improved.
Treasury yields fall as U.S.-Iran ceasefire eases energy prices
According to CNBC, U.S. Treasury yields fell on Monday after the U.S. and Iran halted hostilities in the Middle East over the weekend, sending energy prices lower. The 10-year Treasury yield, a key benchmark for mortgages, auto loans and credit card debt, was down more than 3 basis points at 4.6406% in early trade. The 2-year yield fell 2 basis points to 4.3030%, while the 30-year yield dropped more than 3 basis points to 5.1260%. U.S. West Texas Intermediate futures slid 5.34% to $84.55, and Brent crude fell 5.77% to $91.20 after last week coming close to $100 a barrel. Traders are also looking ahead to the Federal Reserve's interest rate decision on Wednesday, with consensus forecasts calling for rates to be left unchanged at 3.75%. Investors are also watching June's core PCE price index, the latest quarterly GDP reading and new orders data for U.S.-made durable goods later this week.
STOCKS | European Chip Stocks Rise as Iranian War Escalation Plan Is Paused
European semiconductor stocks started the week higher after the Trump administration paused plans to escalate the Iran war and boosted global equities. According to Jin10, SK Hynix rose 3.3%, Samsung Electronics gained 1.8%, ASML climbed 1.7%, ASM International added 0.5%, Infineon Technologies advanced 2.1%, and STMicroelectronics rose 1.9%. Nasdaq 100 futures were up 1.6%, indicating U.S. tech stocks were set for a strong open.
Hong Kong Stock Connect Sees Net Outflow of 1.574 Billion Yuan
Southbound funds recorded a net sell-off of 1.574 billion yuan today. According to Jin10, in Hong Kong Stock Connect through Shanghai, Xiaomi Corp. W and China National Offshore Oil Corp. were net sold 994 million Hong Kong dollars and 866 million Hong Kong dollars, respectively, while Tencent Holdings ranked first in net buying at 560 million Hong Kong dollars. In Hong Kong Stock Connect through Shenzhen, Alibaba Group Holding W and Semiconductor Manufacturing International Corp. were net sold 553 million Hong Kong dollars and 545 million Hong Kong dollars, respectively, while Meituan W ranked first in net buying at 1.217 billion Hong Kong dollars.
Malaysia's $1.5 Billion Sukuk Expected to List in Hong Kong on July 30
Malaysia's government $1.5 billion Islamic bond, or sukuk, is expected to be listed on the Hong Kong Stock Exchange on July 30, 2026, according to Jiemian News. The bond is expected to have a dual listing on the Hong Kong Stock Exchange and Bursa Malaysia, in line with the two exchanges' memorandum of understanding to deepen market connectivity and capital-market links between Hong Kong and Malaysia.
STOCKS | Futu Securities Launches South Korea Stock Trading
According to Jin10, Futu Holdings (03588.HK) announced the official launch of South Korea stock trading. Qualified investors in Hong Kong and Singapore can now start trading South Korean stocks at the same time. The service covers more than 2,700 stocks on the Korea Exchange's KOSPI main board and KOSDAQ market, and it also offers pre-market auction trading on the Korea Exchange.
U.S. oil stocks traded lower before the market open, with Chevron (CVX.N) down 2.7%, Exxon Mobil (XOM.N) down 2.9%, and ConocoPhillips (COP.N) down 3.2%. According to Jin10, the declines were seen in pre-market trading.
CPC Black Sea Terminal Expected to Resume Oil Loadings on Monday
According to market sources, three people familiar with the matter said the Black Sea terminal of the Caspian Pipeline Consortium (CPC) is expected to resume crude oil loading operations on Monday after a one-week suspension.
Russia’s Novorossiysk Resumes Crude Loadings After Days of Disruption
Russia’s Novorossiysk oil port in the Black Sea resumed crude loadings after several days of disruption amid bad weather and increased drone attacks nearby, according to Bloomberg. The port is the largest Russian oil export hub on the Black Sea.
STOCKS | Rocket Lab Rises 4.5% Premarket on $266 Million U.S. Space Force Contract
Rocket Lab rose 4.5% in U.S. premarket trading after the company won a $266 million missile defense contract with the U.S. Space Force. According to Jin10, the contract is valued at $266 million.
Chinese Banks Step Up Dollar Deposit Competition as Some Short-Term Rates Hit 4%
Competition for U.S. dollar deposits is intensifying at banks in China, with several foreign banks and some city commercial banks lifting promotional rates to attract foreign-currency funding, according to Jiemian News. Hang Seng Bank (China) launched a limited-time dollar time-deposit offer in July, with the highest annualized rate at 4% for one-month deposits, while three-month and six-month rates were 3.65%; the minimum deposit was 20,000 yuan. East Asia Bank said new customers depositing between $10,000 and under $50,000 could get promotional rates of 3.4% for three months, 3.35% for six months and 3.2% for one year from July 15 to July 31, while deposits of $50,000 or more qualified for 3.4%, 3.55% and 3.25% respectively. Nanjing Bank is offering a one-year rate of 3.42% on a $200,000 large deposit, and major state-owned banks are mostly keeping one-year dollar deposit rates around 2.8%. DONG Ximiu, chief economist at Zhaolian, said the higher rates reflect both banks' funding needs and expectations for U.S. Federal Reserve policy. Industry participants said dollar deposits are becoming more attractive because of banks' cross-border business, overseas investment and dollar lending needs, but they also warned retail investors to watch exchange-rate risk and possible rate cuts by the Fed. According to the article, the yuan has strengthened more than 3% against the dollar so far this year and more than 5% over the past year, which could erase interest income for investors who convert back into yuan.
SK Hynix Listing Bolsters Korea’s Push to Repatriate Dollars
South Korean authorities are stepping up pressure on exporters to bring home overseas dollar earnings after a rebound in the won, helped in part by SK Hynix Inc.’s record U.S. listing, according to Bloomberg. The currency’s strength has given officials fresh impetus to encourage repatriation of foreign-exchange holdings.
STOCKS | ChinaAMC Nasdaq ETF to Suspend Trading on July 28, 2026
ChinaAMC Nasdaq ETF will suspend trading from the market open on July 28, 2026, and resume trading at 10:30. According to Jin10, redemption business for the fund will continue as normal during the suspension period.
SoftBank Near Deal to Buy Blackstone’s Japan Payments Firm
SoftBank Corp. is getting closer to acquiring SP.LINKS Inc. after securing preferred bidder status for Blackstone Inc.’s payments service provider, people familiar with the matter said, according to Bloomberg. The Japan payments firm is being sold by Blackstone, which bought the company and has now advanced SoftBank as the preferred bidder, according to people familiar with the matter.
STOCKS | Oil Falls Sharply as Middle East Tensions Ease; CBOT Soybeans and Corn Also Decline
Oil prices fell sharply as tensions in the Middle East eased, while CBOT soybeans and corn also declined. According to Jin10, wheat remained near high levels as the Russia-Ukraine conflict in the Black Sea continued to support prices, and agricultural markets were being disrupted by "the Middle East cooling off" and "the Black Sea heating up," with supply chain risks still unresolved.
LVS Says Sands China Has Committed MOP35.84 Billion Under Macau Gaming License
Las Vegas Sands (NYSE: LVS) said in a second-quarter filing with the SEC that its Sands China unit (1928) has committed to invest at least MOP35.84 billion under its 10-year gaming concession, including MOP33.39 billion in non-gaming projects. Ming Pao reported that, after review by the Macau government, MOP5.8 billion of investment made in 2023 and 2024 was deemed qualified investment. For the latest year to end-2025, the group has invested MOP2.52 billion under the commitment, but the amount that will ultimately count as qualified investment will still need final approval from the Macau government.
CXMT Debuts on Shanghai STAR Market in 57.919 Billion Yuan IPO
China’s DRAM chip leader CXMT (688825.SH) listed on the Shanghai Stock Exchange’s STAR Market on July 27 with an offering price of 8.66 yuan per share and gross proceeds of 57.919 billion yuan, setting a STAR Market IPO fundraising record, according to Jiemian News. The stock closed at 47.65 yuan in the report, up 450.23% from the issue price, giving CXMT a market value of 3.19 trillion yuan and making it the largest A-share company by market capitalization. Jiemian News also reported that demand around the listing spilled over into hotels near CXMT’s Hefei campus, with some properties near full occupancy and room rates rising sharply. A Hampton by Hilton near Hefei Xinqiao International Airport said it had been about 90% full recently, while nearby hotels were often sold out or had only a few rooms left. CXMT was founded in Hefei in 2016 and is the only company in mainland China that has achieved large-scale mass production of DRAM chips across the full IDM chain. Its prospectus showed net losses of 8.328 billion yuan in 2022, 16.34 billion yuan in 2023 and 7.145 billion yuan in 2024, before turning a profit of 1.875 billion yuan in 2025. In the first quarter of 2026, revenue was 50.8 billion yuan and net profit reached 24.762 billion yuan; for January-June 2026, the company forecast revenue of 110 billion yuan to 120 billion yuan and net profit of 50 billion yuan to 57 billion yuan.