24H Hot Tokens & Headlines｜Changxin Technology Sets Multiple A-Share Records on Listing Day; Domestic DUV Lithography Machines Begin Mass Production (July 28)

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2. Hot On-Chain Meme Coins (Data Source: GMGN):

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Headlines

Changxin Technology Closes First Trading Day Up 465.82%

Odaily reports that Changxin Technology went public yesterday, closing its first day up 465.8%, setting multiple A-share market records. Its full-day trading volume exceeded 140 billion yuan, with a total market capitalization reaching 3.28 trillion yuan.

Changxin Technology Sets Multiple A-Share Records in First Hour of Trading

Odaily reports that domestic memory leader Changxin Technology, upon listing on the STAR Market, broke several A-share historical records on its debut day: First, it became the first A-share tech stock to surpass a 3 trillion yuan market cap at market open, with an opening valuation of approximately 3.31 trillion yuan. Second, it topped the STAR Market valuation rankings, surpassing SMIC to become the highest-valued listed company on the STAR Market. Third, it became the first A-share stock with a single-day trading volume exceeding 100 billion yuan, with turnover surpassing 100 billion yuan within the first hour of trading, potentially setting a historical record for the full day. Fourth, it was the first new A-share stock to combine a 100-billion-yuan trading volume with a turnover rate exceeding 50%, demonstrating unprecedented trading activity and liquidity.

State-Owned Enterprise Begins Mass Production of Self-Developed DUV Lithography Equipment; Changxin Memory May Be Among First Customers

Odaily reports, citing The Information and informed sources, that a state-owned enterprise based in Shanghai has begun mass production of self-developed DUV (Deep Ultraviolet) lithography equipment. This marks significant progress in the localization of China's semiconductor industry supply chain.

It is reported that the company plans to produce approximately 5 DUV lithography machines in 2026, scaling up to about 20 units in 2027. While a gap remains compared to the output of Dutch lithography giant ASML, which delivered 131 immersion DUV lithography systems last year, the breakthrough in domestic DUV equipment mass production signifies a further step towards self-sufficiency and control for China's chip manufacturing supply chain.

Sources indicate that this batch of domestically produced DUV lithography machines is scheduled to be delivered to major Chinese chip manufacturers, including SMIC, Hua Hong Semiconductor, and memory chip maker Changxin Memory Technologies (CXMT).

Among them, Changxin Memory, as a representative enterprise of China's DRAM industry, is expected to become a key application site for advanced domestic semiconductor manufacturing equipment. If the domestic DUV equipment can operate stably in production lines at Changxin Memory and other manufacturers, it will further reduce the Chinese memory chip industry's reliance on overseas key equipment.

Yuliagsheng, SMIC, Hua Hong, and Changxin Memory have not responded to requests for comment.

Strategy Completes First Buyback of 288,900 STRC Shares for $25 Million

Odaily reports that BitcoinTreasuries.NET posted on X that Strategy MSTR announced the first repurchase of 288,900 shares of Stretch STRC under its Digital Credit Securities Repurchase Program for $25 million. Funds for the buyback came from an at-the-market (ATM) offering of common stock.

Industry News

Analyst: SK Hynix Q2 Results Expected to Hit Record High

Odaily reports that Meritz Securities analyst Kim Sun-woo stated that driven by one-time investment gains and rising semiconductor prices, SK Hynix is expected to report record-breaking second-quarter results. The analyst estimates SK Hynix's pre-tax profit for April to June will exceed 100 trillion won, including operating profit of 6.01 trillion won and investment gains of 4.16 trillion won from holding shares in Japan's Kioxia via US private equity firm Bain Capital. This performance would surpass the company's first-quarter record operating profit of 5.88 trillion won. He added that DRAM and NAND memory chip prices rose by 30% and 49% respectively in the second quarter.

Previously, SK Hynix announced it would release its Q2 2026 earnings report on Wednesday, July 29, 2026.

Korean Media: SK Hynix Plans to Build New Headquarters in Gangnam, Seoul, Adjacent to Samsung HQ

Odaily reports that the SK Group is moving forward with plans to acquire the former Le Méridien hotel site in Seoul's Gangnam district to build a new SK Hynix headquarters. Reports state the site is about 1 kilometer from Samsung Group's headquarters, "Samsung Town", and SK Group Chairman Chey Tae-won has reportedly requested that the new building be built "5 meters higher than Samsung's".

The specific participation method for the project has yet to be finalized, with options including land acquisition, equity participation in a project company, or pre-purchasing office buildings still under discussion. (Asia Economy)

Moonshot AI to Open Source 2.8 Trillion Parameter Kimi K3 Weights; Chinese Open-Source Weighted Models' Token Share Rises to 68%

Odaily reports that Chinese AI startup Moonshot AI will publicly release the model weights for its high-performance model, Kimi K3. Developers will be able to download the model, modify it for various purposes, and run it in their own data centers or cloud environments.

Kimi K3 boasts 2.8 trillion parameters and a 1 million token context window, enabling it to process massive documents and code libraries in a single go. Moonshot AI plans to later publish a technical report detailing the model architecture, training methods, and performance evaluation results.

Following the release of Kimi K3, Moonshot AI's daily revenue is reported to have increased at least sixfold. The company is reportedly pursuing a new funding round at a $50 billion valuation and considering an IPO in Hong Kong as soon as this year.

Bloomberg Intelligence noted that following the release of Kimi K3 and Z.AI's GLM-5.2, the share of Chinese open-source weighted models in overall token usage has risen to 68%. AWS Bedrock, Microsoft Azure Foundry, and Google Vertex AI do not yet offer Chinese open-source weighted models like Kimi K3 and GLM-5.2.

AMD to Establish AI Research Center in South Korea, Building Open AI Infrastructure Ecosystem

Odaily reports that AMD (AMD.O) will build an artificial intelligence research center in South Korea and create an open AI infrastructure ecosystem. South Korea's Ministry of Science and ICT announced on the 27th that it signed a Memorandum of Understanding (MOU) with AMD in San Francisco on the 23rd regarding cooperation on the AI chip ecosystem. AMD plans to establish an AI Center of Excellence in Korea to support technical cooperation between Korean companies, universities, and research institutions, AI chip software development, computing technology verification, and joint research. It will also promote collaboration with domestic Korean AI chip companies. The MOU includes building heterogeneous AI computing infrastructure connecting AMD's CPUs and GPUs with AI chips (NPUs) from Korean companies, which have advantages in the inference domain.

Both parties also plan to create an open AI computing ecosystem driving the participation of Korean companies, covering areas including memory, networking, servers, and software. (Yonhap News)

BlackRock Supports CLARITY Act; Senate Legislative Window Narrows

Odaily reports that the world's largest asset manager, BlackRock, supports the CLARITY Act. Samara Cohen, Senior Managing Director and Head of Global Market Development at BlackRock, stated that the bill is an important step towards establishing an investor-first regulatory framework for digital assets. Cohen said the bill would help shape the next phase of US market structure by supporting innovation while preserving transparency, resilience, and investor protection. Fidelity, Goldman Sachs CEO David Solomon, and Charles Schwab have also previously expressed support for related legislation or clearer digital asset rules. Last week, the US Senate Republican majority released an updated text of the CLARITY Act, integrating the work of the Senate Banking Committee and the Agriculture Committee. Senate Majority Leader John Thune indicated that Senate work on the bill could extend beyond the August recess. Crypto advocacy group Stand With Crypto stated that it has sent over 925,000 emails to Congress in 2025 and has contacted Congress more than 1.1 million times since its inception. The group stated that every Senate vote on the CLARITY Act will be included in a public scorecard for members of Congress.

Futubull Securities Announces Official Launch of Korean Stock Trading

Odaily reports that Futubull Holdings (03588.HK) announced the official launch of Korean stock trading. Eligible investors in Hong Kong SAR and Singapore can now trade Korean stocks. The service covers over 2,700 stocks listed on KRX's KOSPI main board and KOSDAQ venture market, and also provides pre-market auction period trading on the Korea Exchange. (Jin Shi)

Kong Jianping Indirectly Holds ~18.98 Million Shares in Changxin Technology, Valued at ~940 Million Yuan

Odaily reports that according to public information and related disclosure documents, Kong Jianping indirectly holds approximately 18.98 million shares of Changxin Technology through the Yifang Changda Fund (with a capital contribution of 21.34 million yuan). Based on the opening price of 49.5 yuan on the day, the corresponding market value of the holdings is approximately 940 million yuan, representing a return of about 44 times based on relevant calculations.

Kong Jianping stated that when he invested in Changxin in 2020, the company's valuation was less than 20 billion yuan, compared to its current valuation exceeding 3 trillion yuan.

Hong Kong Trader, 26, Misappropriates HKD 50 Million to Long SK Hynix ETF, Incurs HKD 150 Million Paper Loss

Odaily reports that a 26-year-old male trader at Hong Kong's CGS Securities Service Limited misappropriated HKD 50 million of company funds as margin without authorization to leverage long positions on the CSOP Two Times Leveraged SK Hynix ETF via margin financing.

Due to the dual leverage of margin financing and the 2x leveraged ETF, the position incurred a paper loss of approximately HKD 150 million. The ETF hit an all-time high of HKD 193.65 at the end of June before correcting along with the semiconductor sector, falling over 72% to HKD 52.58 as of July 20.

The trader has been arrested by police on suspicion of theft. As the position remains open, the final loss will continue to fluctuate with price movements. (Tencent News)

Project News

Hyperliquid Data Review for Changxin: Pre-IPO Trading Volume Hit $17.8 Million; 96% of Smart Money Shorting for Profit

Odaily reports that on-chain data platform Allium posted on X that it recorded Hyperliquid trader positions 36 minutes before the CXMT IPO to observe market changes surrounding the public listing.

The data shows CXMT has been tradable for 12 days; 1 minute before the IPO, the perpetual contract price was within 3% of the opening price; trading volume grew from $1 million the previous day to $14 million in 15 minutes; total pre-IPO trading volume reached $17.8 million. Smart money traders established short positions before the IPO and profited, with most continuing to hold or even adding to their positions. Wallets from the US and Hong Kong were the most long, while Korean wallets were the most short. Most long positions originated from traders who newly joined Hyperliquid over the previous weekend.

Losses Widen to $11.8 Million; Stolen Amount in Triple-A Attack Increases

Odaily reports that the total loss from the attack on stablecoin payment infrastructure Triple-A has expanded to $11.8 million. Previously, over $9.3 million was stolen from Triple-A's hot wallets and bridged to Ethereum in what is suspected to be a hacker attack.

SOL Meme Coin EPIK Market Cap Briefly Surges Past $23 Million; Up Over 58x Intraday

Odaily reports that according to GMGN Data, the market cap of SOL meme coin EPIK briefly surged past $23 million, currently reporting $22 million, an intraday gain of over 58x.

Odaily reminds: Meme coin prices are highly volatile, and related narrative trends can change rapidly. Please be aware of market risks.

EPIK Creator Responds to Controversy: Bought Back Over 50% of Tokens Over 3 Years, Plans Airdrop for Long-Term Supporters

Odaily reports that in response to community doubts about the value of "holding 50% of tokens," EPIK creator Mando stated he spent