Crypto commentators and sell-side analysts offered sharply different takes on Changxin Tech on July 27, the day the company went public. According to BlockBeats, B.TOP founder Jiang Zhuoer took a cautious stance, saying Changxin Storage would likely open higher, spike, and then retreat, with the first trading day potentially marking its all-time high. He also outlined a trade he described as the “perfect script,” involving buying at the A-share open, selling into a midday Hype rally, and then unwinding the position the next day across both markets. Mango Labs founder dov_wo expressed the opposite view, saying he was already long Changxin Tech and saw it as a rare “1:5” setup, with 20% downside versus 100% upside. He cited the stock’s low free float, regulatory intervention, and what he described as institutional interest below a RMB 3 trillion valuation. Institutional analysts were also divided. Nomura set a target price of RMB 116, implying a market capitalization of RMB 7.76 trillion, while Northeast Securities gave a valuation range of RMB 3.2 trillion to RMB 5.7 trillion.
Crypto KOLs and institutional analysts posted sharply different views on Changxin Tech on July 27, the day of its listing, according to BlockBeats.
Jiang Zhuoer expects an early spike followed by a pullback
Jiang Zhuoer, founder of mining pool B.TOP, took a relatively cautious view on the stock’s first trading day. He said, “Changxin Storage will most likely open higher, spike, and then fall back. The first day may be the highest price in its history. The perfect script is to buy at the A-share open, sell Hype into the midday spike, then sell A-shares and buy back Hype the next day to close the position. If you didn’t prepare Hype, T+1 may trap you, and it could end up like PetroChina for a lifetime.”
dov_wo says he is already long
Mango Labs founder @dov_wo was much more bullish. He wrote, “I’m already long Changxin Tech. In my view, this is a rare 1:5 setup — down 20%, up 100%, one loss for five gains.”
He said the bullish case rests on a low free-float ratio, regulatory intervention, and what he described as an institutional preference for opportunities below a RMB 3 trillion valuation.
On strategy, he added: “If it opens high tomorrow, just close the position and take the money. If it opens low and moves higher, wait patiently. Finish the trade within three days.”
Analysts are also far apart on valuation
Institutional analysts were also divided.
Nomura gave Changxin Tech a target price of RMB 116, implying a market capitalization of RMB 7.76 trillion. Northeast Securities set a valuation range of RMB 3.2 trillion to RMB 5.7 trillion.
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