中国最大DRAM制造商长鑫存储以"长鑫科技"名义在A股上市，股价首日涨幅惊人[1]。开盘价为人民币49.5元，较发行价8.66元上涨471.59%[1]；收盘价为人民币49元，涨幅达465.82%[1]。上市首日市值达3.3兆元[1]，成为中国总市值最高的上市公司和今年亚洲规模最大IPO[1]。
对于这一现象，市场分析人士观点不一。晨星公司分析师于靖杰认为长鑫上市首日"涨过头"[1]。泰有孚投资基金经理人袁宇煒则表示"股价过高、投机气息浓厚"[1]。分析师认为投资者是在抓住记忆体超级周期的机会进行布局，但同时指出存在估值过高的风险[1]。集邦科技分析师王豫琪指出，记忆体市场供给仍紧俏，涨价趋势预料将延续至2027年底[1]。
Changxin Storage, China's largest DRAM manufacturer, made its debut on mainland China's A-share market under the name "Changxin Technology" on July 27, 2023, with a remarkable opening-day performance that sparked both enthusiasm and caution among analysts [1]. The stock opened at 49.5 yuan, representing a surge of 471.59% from its issue price of 8.66 yuan, and closed at 49 yuan with a gain of 465.82% [1]. The company's market capitalization reached 3.3 trillion yuan, equivalent to approximately 15.8 trillion New Taiwan dollars, making it China's highest-valued publicly listed company and the largest initial public offering in Asia this year [1].
The extraordinary price appreciation has drawn mixed reactions from industry experts. Morningstar analyst Yu Jing-jie characterized the stock as having "risen excessively" on its first day [1]. Tai You Fu Investment fund manager Yuan Yu-wei expressed concern that "the stock price is too high and the atmosphere is thick with speculation" [1]. TrendForce analyst Wang Yu-qi offered a longer-term perspective, noting that "memory chip market supply remains tight, and the upward price trend is expected to continue through the end of 2027" [1].