The ChiNext board welcomed its first initial public offering by a company yet to achieve profitability. On April 16, Dapustor Corporation (301666) was listed on the ChiNext board. On its first day of trading, the stock opened 349.72% higher at 207.23 yuan per share, giving the company a total market capitalization of 90.4 billion yuan. Dapustor Corporation is primarily engaged in the research, development, and sale of enterprise-grade SSD products for data centers. It is a leading provider of semiconductor storage products and one of the very few domestic companies with full in-house capabilities—from controller chips and firmware algorithms to modules—and has achieved mass production. The company's IPO price was set at 46.08 yuan per share. Notably, as of the signing date of the listing announcement, Dapustor Corporation had not yet turned a profit. It is also the first unprofitable company to complete an IPO on the ChiNext board. According to the listing announcement, the company expects to achieve overall profitability by 2026 at the earliest.
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