On July 27, domestic DRAM leader ChangXin Memory Technologies (CXMT) made its debut on the STAR Market, setting a new record for the largest IPO in the board's history. As a provincial comprehensive securities firm rooted in Anhui and dedicated to hard technology, Huaan Securities, through its vision for contrarian positioning and long-term patient capital, provided full-cycle support for the growth of this local memory chip champion. This vividly demonstrates the essence of a sci-tech investment bank by "investing early, investing small, and investing in hard technology."
Memory chips form the core foundation of the digital economy, and advancing industrial self-reliance is a core national strategy. Leveraging Hefei's semiconductor cluster advantages, Huaan Securities made an early strategic move into the domestic storage track. Through its investment platforms, Huaan Jiaye and Huafu Ruixing, the firm established a dual-path investment system combining "specialized fund direct investment" with a "parent fund linkage to the National Big Fund," empowering hard-tech growth with long-term capital.
Huaan Jiaye initiated the Anhua Innovation Phase V Fund, with a total size of 1.02 billion yuan, completing a 1 billion yuan Series B strategic investment in CXMT. Meanwhile, Huafu Ruixing participated in the fund, with a cumulative paid-in capital of 306 million yuan, and contributed 300 million yuan through the fund channel, precisely positioning itself during the critical phase of the company's scaled development. Additionally, through its equity participation in Wantou Anhua, it linked with the National Integrated Circuit Big Fund Phase II, building a collaborative network of national, provincial, and securities firm capital to continuously inject stable capital for the company's process iteration and wafer fab expansion.
Over the years, this has been a long-distance race with unwavering companionship. CXMT has successfully broken through with "skip-generation" R&D, steadily achieving mass production across four generations of process platforms. It has completed a full range of high-end storage product layouts for DDR and LPDDR, built multiple 12-inch wafer fabs, and secured its position as the leading DRAM manufacturer in China and the fourth globally. This listing on the STAR Market is a landmark achievement of Huaan Securities' patient capital in nurturing local hard-tech enterprises.
Looking ahead, Huaan Securities will continue to leverage its comprehensive financial license advantages, deepen its focus on the integrated circuit frontier, and further expand long-term patient capital. It aims to use financial resources to continuously irrigate the fertile ground of science and technology, supporting technological self-reliance and fostering the growth of new productive forces.