At Changxin Memory Technologies’ headquarters in Hefei, the capital of central China’s Anhui province, the sprawling production facilities seem to reflect a broader, citywide optimism.For years, the factory was the quiet epicentre of a high-stakes gamble in China’s semiconductor self-sufficiency drive. Today, it is the site of a historic vindication, as the company – better known as CXMT – pushes for a massive initial public offering on Shanghai’s Nasdaq-style Star Market that promises to be...