Dan Bin: The Listings of ChangXin and SK Hynix Are Major Positives, A-Share Market Capable of Producing a Trillion-Dollar Hard-Tech Leader

Odaily News Dan Bin, Chairman of Orient Securities, posted on Xueqiu today, expressing a relatively optimistic view regarding market concerns that the successive listings of ChangXin Memory Technologies and SK Hynix will divert funds. Dan Bin pointed out that if the market capitalization of these two storage companies reaches 3 trillion, 5 trillion, or even 7 trillion after listing, the overall market cap space for the hard-tech sector in A-shares and Hong Kong stocks will be completely opened up, which is a major positive in the long term.

He stated that the A-share market has long had a curse of a market cap ceiling, with the baijiu liquor leader consistently acting as the market’s benchmark, making it difficult for any company to surpass its scale. However, given China’s current global industrial position, the A-share market is fully capable of producing a hard-tech leader with a total market capitalization exceeding $1 trillion. In contrast, in the U.S. stock market, the combined market cap of just two or three tech giants equals the total scale of the entire A-share market—a situation that does not match China’s current economic strength. He is highly anticipating that hard-tech companies in sectors like storage will achieve value breakthroughs, driving a structural reshaping of the domestic capital market. (Jin Shi)