Nomura Securities issued a research report on the day of Changxin Memory's listing, believing that the global memory chip supply is unlikely to ease as quickly as the market consensus expects, and Changxin Memory's market share growth will accelerate. Supported by capacity expansion, process upgrades, and rising average selling prices, Changxin Memory's sales revenue and net profit attributable to shareholders of the parent company will achieve rapid growth.
Therefore, it initiated coverage with a "buy" rating and a target price of 116 yuan, representing a theoretical upside of approximately 12.4 times the issue price of 8.66 yuan. Based on the bank's target price and the total share capital of 66.881 billion shares before the exercise of the over-allotment option, Changxin's total market capitalization would reach 7.77 trillion yuan.
