Multiple Automakers Join CXMT's STAR IPO Strategic Placement, Each Investing ¥158M for 18.24M Shares

In July, ChangXin Technology debuted on the STAR Market, with its share price surging 465.8% on the first trading day. Strategic investors included subsidiaries of NIO, Chery, and Xiaomi, each investing RMB 158 million to acquire approximately 18.24 million shares, subject to an 18-month lock-up period. Prior to this, several automakers had already participated in ChangXin Technology’s financing rounds through various arrangements. Beyond ChangXin, other chipmakers such as Horizon Robotics and Black Sesame Technologies have also secured investments and partnerships from multiple automakers. Some automakers have even taken the lead in forming “automotive-chip” alliances to strengthen the automotive semiconductor ecosystem. Starting in the second half of 2025, shortages and rising prices of memory chips have increased cost pressures on automakers, prompting them to invest in domestic chip companies to secure supply, mitigate supply chain risks, and obtain favorable procurement terms. In 2026, automakers including Geely and Li Auto plan to launch their self-developed intelligent driving chips. Currently, automakers are building technical capabilities in critical chip segments while continuing collaborations with external chip firms—for instance, BYD maintains its partnership with ChangXin Technology.