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China's largest memory chipmaker made a blockbuster debut on the Shanghai Stock Exchange's STAR Market on Monday as experts pointed to growing signs of a structural bull run in the A-share market.
国内规模最大的存储芯片企业周一在上交所科创板重磅上市，业内专家表示，A 股市场结构性牛市信号愈发清晰。

In the Chinese mainland's biggest initial public stock offering in recent years, shares of ChangXin Memory Technologies, or CXMT, surged 465.82 percent to close at 49 yuan per share, propelling its market value to more than 3 trillion yuan ($443 billion) and making it the most valuable company on the A-share market on its first trading day.
此次上市为内地近年来规模最大的首次公开发行。长鑫存储技术有限公司（简称长鑫存储）股价暴涨 465.82%，收盘报 49 元每股，总市值突破 3 万亿元人民币（折合 4430 亿美元），上市首日登顶 A 股市值第一。

CXMT not only overtook the United States peer Intel in market value, but also dethroned the Industrial and Commercial Bank of China as the domestic market's top-weighted company.
长鑫存储市值不仅超越美国同行英特尔，还取代中国工商银行，成为 A 股市值权重最高企业。

The company raised at least $8.6 billion with the offering, priced at 8.66 yuan per share.
本次发行定价 8.66 元 / 股，企业募资规模至少 86 亿美元。

The feverish trading was underscored by a record-shattering 140-billion yuan single-day turnover, reflecting a strong investor appetite for high-tech domestic champions as China presses ahead with its push for technological self-reliance.
该股单日成交额高达 1400 亿元，创下历史新高，交易热度空前。当前我国持续推进科技自立自强，投资者对国产高科技龙头企业投资意愿强烈。

Wu Hao, a portfolio manager at Founder Fubon Fund, said that CXMT's IPO completes the most critical piece of a puzzle for the A-share market's memory sector.
方正富邦基金组合经理吴昊表示，长鑫存储登陆 A 股，补齐了 A 股存储板块最核心的一块短板。

"It gives China its first homegrown DRAM powerhouse with global heft, sharpening the investment case across the memory value chain," he said.
“长鑫存储打造出我国首家具备全球竞争力的本土动态随机存取存储龙头，整条存储产业链的投资价值都得到提升。” 他说道。

From equipment and materials to design, manufacturing and packaging, the story of CXMT is now shifting from concept validation to earnings realization, he added.
他补充道，从设备材料、芯片设计、晶圆制造到封装测试，长鑫存储的发展逻辑已从技术验证阶段转向盈利兑现阶段。

DRAM, or dynamic random access memory, is the main type of memory that computers and servers use to run programs and process data in real time.
DRAM 即动态随机存取存储器，是电脑、服务器实时运行程序、处理数据的主流存储芯片。

With artificial intelligence-driven demand on the rise, the