The incident of OpenAI models breaching Hugging Face has escalated, as US House lawmakers have introduced the bipartisan AI Emergency Shutdown Act.

According to market data, Changxin Technology’s call auction is temporarily quoted at 49.5 yuan, with an issue price of 8.66 yuan per share, marking a 471.59% increase.

Changxin Technology has entered the opening call auction on China's STAR Market, with its stock temporarily quoted at 49.5 yuan. Driven by this, Changxin Technology's stock contract has rallied again on trade.xyz, now trading at 7.2 U.S. dollars.

For today’s listing of Changxin Technology, crypto KOLs have shared divergent predictions. Jiang Zhuoer, founder of the B.TOP mining pool, holds a relatively pessimistic view. He believes Changxin Technology will likely open higher, surge and then pull back, hitting its all-time high on the first trading day. The perfect playbook, he says, would be: buy on the A-share opening, sell during the midday hype-driven surge, then sell on A-shares the next day while closing out the hype position. If you don’t have a hype position, trapped by the T+1 trading rule, you might end up holding it for life just like PetroChina. Mango Labs founder @dov_wo is far more bullish: “I’ve gone long on Changxin Technology. In my view, Changxin offers a rare 1:5 risk-reward opportunity—downside of 20%, upside of 100%, a 1-to-5 payout ratio.” @dov_wo lists his bullish reasons as: low tradable share ratio, regulatory factors, and institutional optimism for its investment opportunity at a market cap below 3 trillion yuan. His suggested strategy: “If it opens higher tomorrow, close positions directly to take profits; if it opens lower then rallies, wait patiently—wrap up the trade within 3 days.” Institutional analysts are also deeply divided: Nomura Securities gives Changxin Technology a target price of 116 yuan, corresponding to a market cap of 7.76 trillion yuan. China’s Northeast Securities values Changxin Technology in a range of 3.2 trillion to 5.7 trillion yuan.

Within less than 10 minutes of its call auction, Changxin Technology’s stock contract saw a rapid pullback on trade.xyz, briefly falling below $6.5 before trading at a current price of $6.5582. Over the past hour, the stock had briefly surged past $7.

According to Coinglass data, Changxin Technology experienced extreme volatility over the past hour, with liquidation amounts totaling $2.3623 million, ranking first across the entire network.

ChangXin Memory Technologies listed today. Northeast Securities cross-validated its valuation using three methods: market share anchoring, profit-split PE, and per-unit production capacity, arriving at a range of RMB 3.2 trillion to RMB 5.7 trillion. The firm noted that ChangXin’s proportion of minority interest profit and loss hit 73.76% in 2025, far higher than Samsung, SK Hynix, and Micron (all below 1%), so this portion must be excluded in valuation. Assuming the proportion remains at 24% in 2026 and 2027, the three methods’ conclusion is as follows: the reasonable valuation after excluding the impact of minority interest profit and loss is RMB 3.2 trillion to RMB 5.7 trillion.