[Over 6,000 Employees Granted Shares, ChangXin Technology's IPO to Create Wealth in Bulk] Odaily Planet Daily News: Data disclosed in the prospectus shows that ChangXin Technology implemented two phases of employee stock ownership plans prior to its IPO, cumulatively granting shares to 6,760 individuals. These plans covered the company's management talents, key business personnel, core technical staff, and critical frontline production employees, making it one of the largest pre-IPO equity incentives in the semiconductor industry. ChangXin Technology's employee stock ownership plan was carried out in two phases over four years. The first phase began in September 2021, granting shares to 3,596 employees at a price of 1.05 yuan per unit of registered capital, targeting key personnel involved in early production line construction and technology development. The second phase was launched in June 2023, during a period when the company faced significant losses due to large-scale expansion and severe erosion of net assets, with the cost per share reduced to 0.108 yuan. As of the IPO, the two phases cumulatively covered 6,760 individuals, accounting for 35% of the company's total 19,298 employees. Among them, R&D personnel made up over 30%, and nearly 40% held a master's degree or higher. According to the prospectus, the shares held by employees will be distributed gradually over ten years, starting 36 months after the IPO, either as shares or cash proceeds, with the final returns depending on the company's long-term value. On July 9, ChangXin Technology officially disclosed its Sci-Tech Innovation Board IPO prospectus. The company's stock code is 688825, and the online subscription code is 787825. This IPO plans to publicly issue 6.688 billion shares, accounting for approximately 10% of the total post-issuance share capital, aiming to raise 29.5 billion yuan. This marks the largest IPO on the A-share market since 2026.