[Beijing = E-Daily Lee Myeongcheol Correspondent] Changxin Memory Technology (CXMT; hereinafter “Changxin Memory”), China’s largest DRAM manufacturer, is showing a slight decline on its second day of trading. Changxin Memory, which debuted on the Chinese stock market the previous day, saw its stock price surge by more than 400% in a single day, claiming the top spot in market capitalization.

According to MP Doctor and other sources on the 28th, as of 10:01 a.m. (local time), Changxin Memory’s stock price is trading at 48.77 yuan, down 0.47% from the previous day. The stock has shown volatility, fluctuating between gains and losses in early trading.

Changxin Memory, which debuted on the stock market the previous day, closed at 49.0 yuan (approximately 10,637 won), up 465.82% from its opening price. Its market capitalization on that day was recorded at 3.28 trillion yuan (approximately 712 trillion won). As of the previous trading day, the 24th, it easily surpassed the Agricultural Bank of China (2.1262 trillion yuan) to claim the title of the market’s largest company.

Chinese media reported that Changxin Memory surpassed Intel’s market capitalization (approximately 684 trillion won) following its IPO. On the same day, the market capitalizations of SamsungElectronics(005930)and SK hynix(000660) stood at approximately 1,485 trillion won and 1,294 trillion won, respectively, and Changxin quickly closed the gap to about half of those levels.

However, on the second day of trading, the stock is trading flat. This is believed to be influenced by the overall weakness in semiconductor stocks, as seen by a 5.8% plunge in shares of Dutch equipment maker ASML on the New York Stock Exchange and a 10% drop in SamsungElectronics shares in South Korea.

Changxin Memory ranks as the world’s fourth-largest company in the DRAM sector, following SamsungElectronics, SK hynix, and Micron. According to the company’s prospectus, revenue and net profit for the first half of this year are projected to reach up to 120 billion yuan (approximately 26 trillion won) and 75 billion yuan (approximately 16.3 trillion won), respectively.