Strasmore Research
深度研究 Matt Connor作者： Matt Connor · 更新于 2026-07-23

SK Hynix纳斯达克上市数据

SK Hynix在纳斯达克首日募资280亿美元，作为2026年规模第二大的上市交易，其首日成交与卖空数据解析请见下文。

2026年7月10日，韩国存储芯片巨头、Micron 最接近的上市对手 SK Hynix 开始在纳斯达克交易。这是继 SpaceX 6月上市后，今年美国规模第二大的上市交易。本页面汇总了 SK Hynix 在纳斯达克上市的首日原始数据：包括募资情况、首日成交记录、买卖价差、卖空成交量，以及期权交易的异常静默。所有数据均来自数据库查询；点击任何面板即可查看对应的 SQL 语句。

SK Hynix 是谁，为何此次亮相至关重要

SK Hynix 是全球两大内存芯片制造商之一，另一家是三星电子，美光（Micron）位列第三。该公司生产 DRAM（服务器和个人电脑的运行内存）、NAND 闪存（用于存储），以及 AI 时代的核心产品：HBM（高带宽内存）。HBM 通过将多层 DRAM 直接与 AI 加速器封装在一起，提供足够快的数据传输速度以满足其需求。几乎所有领先的 AI GPU 都配备了 HBM，这使 SK Hynix 深耕于主导 2026 年市场趋势的 AI 硬件供应链。在 7 月 10 日之前，寻求纯粹内存板块敞口的美国投资者几乎只能选择单一标的 MU。现在，这两家内存巨头都将在美股交易时段内进行交易。

The paper trail and the deal

The listing record and the SEC filing index pin down the deal — venue, wrapper, size, and the arithmetic connecting them:

查询上市记录与 SEC 备案进度
每个数字背后的完整 SQL
WITH sk AS (
    SELECT
        any(issuer_name) AS issuer,
        toString(any(listing_date)) AS listed,
        any(primary_exchange) AS exchange_mic,
        any(security_description) AS security,
        round(toFloat64(any(final_issue_price)), 2) AS px,
        round(any(total_offer_size) / 1e9, 1) AS raised,
        round(any(max_shares_offered) / 1e6, 1) AS ads_m,
        round(any(max_shares_offered) * toFloat64(any(final_issue_price)) / 1e9, 1) AS math_bn,
        any(total_offer_size) AS raw_size
    FROM global_markets.stocks_ipos
    WHERE issuer_name = 'SK Hynix Inc' AND listing_date = '2026-07-10'
)
SELECT
    issuer,
    listed,
    exchange_mic,
    security,
    px AS recorded_issue_price,
    raised AS raised_bn,
    ads_m AS ads_offered_m,
    math_bn AS shares_x_price_bn,
    (SELECT count() FROM global_markets.stocks_ipos
     WHERE listing_date >= '2026-01-01' AND listing_date <= '2026-07-10'
       AND total_offer_size > (SELECT raw_size FROM sk)) AS larger_2026_raises,
    (SELECT countIf(form_type IN ('F-1', 'F-1/A')) FROM global_markets.stocks_sec_edgar_index
     WHERE issuer_name ILIKE '%hynix%' AND filing_date >= '2026-05-01' AND filing_date <= '2026-07-10') AS f1_registrations,
    (SELECT countIf(form_type = 'F-6') FROM global_markets.stocks_sec_edgar_index
     WHERE issuer_name ILIKE '%hynix%' AND filing_date >= '2026-05-01' AND filing_date <= '2026-07-10') AS f6_adr_registrations
FROM sk

The records: SK Hynix Inc, listed 2026-07-10 on exchange XNAS — the Market Identifier Code for the Nasdaq Stock Market, the receipt for the venue in this page's title. The security field reads ADR: the US line is American Depositary Shares — the wrapper US investors actually trade — on ordinary shares that stay listed in Seoul. The deal itself: 177.9 million ADSs at a recorded issue price of $158.14. Multiply the two and you get $28.1B — matching the recorded 28.1B raise; the arithmetic closes. Exactly 1 US listing raised more in 2026 — SpaceX's June deal — a rank the league table below shows rather than asserts. The filing trail marks a foreign private issuer debut: 2 F-1 registrations (the overseas equivalent of an S-1) and 1 F-6, the form that registers the ADS program itself.

What the record does not carry is worth stating plainly. Its lowest and highest recorded offer prices are equal — the field stores the final price, not the marketed range, so pricing-versus-range is not checkable here. Underwriter names and the ADS-to-ordinary-share ratio live inside the F-1 and F-6 documents; our EDGAR index counts those filings without parsing their contents. The shares-outstanding field is empty, so this page computes no market capitalization — we do not publish figures we cannot receipt. The ratio still matters mechanically: each ADS represents a fixed number of ordinary shares set in the F-6, and depositary banks can create or cancel ADSs against the Seoul line — the conversion channel through which the US price and the Korean price discipline each other.

280亿美元融资额在2026年的排名

“年度第二大”仅是一个说法，以下是基于发行记录的排名表——完整背景请参阅 H1 IPO分类账：

查询2026年美国上市规模排名（前8名，$B）
每个数字背后的完整 SQL
SELECT
    issuer_name,
    toString(max(listing_date)) AS listed,
    round(max(total_offer_size) / 1e9, 1) AS raised_bn,
    round(100 * max(total_offer_size) / max(max(total_offer_size)) OVER (), 1) AS pct_of_largest
FROM global_markets.stocks_ipos
WHERE listing_date >= '2026-01-01' AND listing_date <= '2026-07-10'
  AND ipo_status IN ('new', 'history') AND total_offer_size > 0
GROUP BY issuer_name
ORDER BY raised_bn DESC, issuer_name
LIMIT 8

SpaceX于6月上市，融资额最高，达 $75B；SK Hynix以 $28.1B 位居第二，约为前者的 37.5%；第三名为 Cerebras Systems Inc，融资额为 $5.6B。该图表反映的核心情况是排名第二后的断层：2026年仅出现了两笔超大规模交易，本案即其中之一。

需要说明的是，由于页面上有两个相近的美元数值，请注意区分：$28.1B 是发行规模——即按发行价一次性支付的资本；而下方的 $18.03B 是首日成交额——即股票按市场价格进行的换手，交易方多为非本次发行参与者。

首个交易时段

查询SKHYV 首日交易记录 — 2026年7月10日
每个数字背后的完整 SQL
SELECT
    round(toFloat64(argMinIf(open, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)), 2) AS first_rth_print,
    round(100 * (toFloat64(argMinIf(open, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959))
        / (SELECT toFloat64(any(final_issue_price)) FROM global_markets.stocks_ipos
           WHERE issuer_name = 'SK Hynix Inc' AND listing_date = '2026-07-10') - 1), 1) AS open_vs_issue_pct,
    round(minIf(toFloat64(low), (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959), 2) AS day_low,
    round(maxIf(toFloat64(high), (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959), 2) AS day_high,
    round(toFloat64(argMaxIf(close, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)), 2) AS first_close,
    round(100 * (toFloat64(argMaxIf(close, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959))
        / (SELECT toFloat64(any(final_issue_price)) FROM global_markets.stocks_ipos
           WHERE issuer_name = 'SK Hynix Inc' AND listing_date = '2026-07-10') - 1), 1) AS close_vs_issue_pct,
    round(sumIf(toFloat64(close) * toFloat64(volume), (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959) / 1e9, 2) AS rth_dollar_bn,
    round(toFloat64(sum(volume)) / 1e6, 1) AS day_shares_m,
    (SELECT count() FROM global_markets.delayed_stocks_minute_aggs
     WHERE ticker = 'SKHYV' AND window_start < toDateTime('2026-07-10 00:00:00')) AS bars_before_debut
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker = 'SKHYV'
  AND window_start >= toDateTime('2026-07-10 04:00:00') AND window_start < toDateTime('2026-07-11 00:00:00')

首个常规交易时段的成交价为 $170 —— 比发行价高出 7.5%。该时段波动区间为 $177 至 $166.19，最终收于 $168.33。尽管开盘后股价有所回落，但收盘价仍高出发行价 6.4。该股当日成交额为 18.03B 常规交易美元，盘后成交量为 106.8 百万股：交易量位列全市场第五，超过 QQQ，正如 当日回顾 所载。该代码的历史记录：在 7 月 10 日之前仅存在 0 分钟的 K 线——这是一个全新的代码，不同于 SpaceX 首发 时使用的重复代码。

Day-one microstructure: a young spread

A new listing's bid-ask spread starts wide and tightens as market makers learn the name — day one is hour zero of that seasoning:

How the day actually assembled, print by print — when the cross landed, how much stock changed hands on and off exchange, and what the closing auction settled:

查询首日交易解析：11:34 IPO 集合竞价、日成交量、交易场所分布及收盘集合竞价
每个数字背后的完整 SQL
SELECT
    formatDateTime(toTimeZone(min(sip_timestamp), 'America/New_York'), '%H:%i:%S') AS first_print_et,
    round(toFloat64(argMin(price, sip_timestamp)), 2) AS first_print_px,
    round(toFloat64(sumIf(size, NOT hasAny(conditions, [15, 16, 38]))) / 1e6, 1) AS matched_shares_m,
    round(toFloat64(maxIf(size, has(conditions, 8))) / 1e6, 2) AS closing_cross_shares_m,
    round(toFloat64(argMaxIf(price, (size, sip_timestamp), has(conditions, 8))), 2) AS official_close,
    round(100 * toFloat64(maxIf(size, has(conditions, 8))) / toFloat64(sumIf(size, NOT hasAny(conditions, [15, 16, 38]))), 1) AS cross_pct_of_day,
    round(100 * toFloat64(sumIf(size, exchange = 4 AND NOT hasAny(conditions, [15, 16, 38]))) / toFloat64(sumIf(size, NOT hasAny(conditions, [15, 16, 38]))), 1) AS off_exchange_pct
FROM global_markets.stocks_trades
WHERE ticker = 'SKHYV'
  AND sip_timestamp >= '2026-07-10 00:00:00' AND sip_timestamp < '2026-07-11 00:00:00'

The first print landed at 11:34:47 ET at $170 — a late-morning IPO cross, the standard shape for a debut, with the whole pre-cross session quoted one-sided. 107.7 million shares matched on the day, 33% of them off-exchange, and the closing auction printed 0.82 million shares at the official close of $168.01 — just 0.8% of the day, a reminder that a debut's action lives in continuous trading, not the close.

查询首日每小时报价价差 — 市场成熟度与开盘阶段
每个数字背后的完整 SQL
SELECT
    toHour(toTimeZone(sip_timestamp, 'America/New_York')) AS et_hour,
    round(quantileDeterministicIf(0.5)((toFloat64(ask_price) - toFloat64(bid_price)) / ((toFloat64(ask_price) + toFloat64(bid_price)) / 2) * 10000, toUInt64(toUnixTimestamp64Micro(sip_timestamp)), bid_price > 0 AND ask_price > bid_price), 1) AS med_spread_bps,
    count() AS quote_updates,
    countIf(bid_price > 0 AND ask_price > bid_price) AS two_sided_updates
FROM global_markets.cache_stocks_quotes
WHERE ticker = 'SKHYV'
  AND sip_timestamp >= toDateTime64('2026-07-10 13:30:00', 9) AND sip_timestamp < toDateTime64('2026-07-10 20:00:00', 9)
  AND (toHour(sip_timestamp) * 60 + toMinute(sip_timestamp)) BETWEEN 810 AND 1199
GROUP BY et_hour
HAVING countIf(bid_price > 0 AND ask_price > bid_price) > 0
ORDER BY et_hour

Until the IPO cross printed at 11:34:47 ET there was no two-sided market to measure — the table starts at the first hour with real quotes on both sides. From there the median spread ran 10 bps in its first measurable hour and finished the day tighter (4.1 bps) — already tighter on day one than SpaceX's June listing showed in its early sessions, consistent with the size of the deal and the two-sided interest a direct rival to MU attracts. Where the spread settles by week two is the seasoning receipt to watch.

存储板块交易概况

本次交易正值本月最受关注的题材：MU（其全周交易量甚至超过了 SPY 整个星期）以及硬盘制造商 STX 和 WDC。以下是首个交易日常规交易时段的存储板块整体情况：

查询Memory 板块首日 — 2026年7月10日：RTH 走势与成交金额
每个数字背后的完整 SQL
SELECT
    ticker,
    round(toFloat64(argMinIf(open, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)), 2) AS rth_open,
    round(toFloat64(argMaxIf(close, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)), 2) AS rth_close,
    round(100 * (toFloat64(argMaxIf(close, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)) / toFloat64(argMinIf(open, window_start, (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959)) - 1), 2) AS open_to_close_pct,
    round(sumIf(toFloat64(close) * toFloat64(volume), (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959) / 1e9, 2) AS rth_dollar_bn
FROM global_markets.delayed_stocks_minute_aggs
WHERE ticker IN ('SKHYV', 'MU', 'WDC', 'STX')
  AND window_start >= toDateTime('2026-07-10 04:00:00') AND window_start < toDateTime('2026-07-11 00:00:00')
GROUP BY ticker
ORDER BY rth_dollar_bn DESC, ticker

MU 的交易量甚至超过了新股：MU 为 $25.9B，SKHYV 为 $18.03B，两者位列存储板块前两名；硬盘制造商则分别以 $3.09B 和 $1.68B 远居其后。板块走势分化：MU 收盘较开盘上涨 1.42%，硬盘制造商涨幅更大，分别为 STX 5.7% 和 WDC 3.28%；而新股在首个报价后，收盘跌去 -0.98%。各股交易时间高度重合，且新股迅速成为该板块交易量第二大的标的。

做空者在首日便已出现

FINRA 的每日场外交易成交量文件列出了做空标记的股份。SKHYV 从交易首日便出现在其中：

查询SKHYV 首日场外卖空量及文件覆盖调查
每个数字背后的完整 SQL
SELECT
    round(max(short_volume) / 1e6, 1) AS short_shares_m,
    round(max(total_volume) / 1e6, 1) AS offex_shares_m,
    round(100 * max(short_volume) / max(total_volume), 1) AS short_pct_of_offex,
    (SELECT uniqExact(ticker) FROM global_markets.stocks_short_volume WHERE date = '2026-07-10') AS file_ticker_count,
    (SELECT max(ticker) FROM global_markets.stocks_short_volume WHERE date = '2026-07-10') AS file_last_ticker
FROM global_markets.stocks_short_volume
WHERE ticker = 'SKHYV' AND date = '2026-07-10'

在解读数据含义之前，需注意两个前提。首先，该文件是完整的：包含 15116 个代码，涵盖了从 ZYME 开始的范围——根据 6月29日的深度调查，完整性校验可能会在字母顺序中途失效。其次，做空标记属于交易底层机制，而非投资意图：做市商在尚未锁定股份的情况下卖出，会因监管分类而将其标记为做空，而新股上市通常会大量经过该机制。每日做空成交量并不等同于 卖空头寸；首份基于结算的数据将在本月晚些时候的双周周期中发布——后者衡量的是仓位情况。

21.3 百万 份 34.9 百万份场外股份——占比 60.8%——在上市首日被标记为做空。

期权：缺席的凭证，以及时间线

首日并无任何挂牌期权交易——本页面将该零值记录在案，并附上今年另外两次重大上市的时间线：

查询期权交易观察：SKHYV 首日静默期 vs 同类股走势
每个数字背后的完整 SQL
SELECT
    (SELECT count() FROM global_markets.options_trades
     WHERE ticker LIKE 'O:SKHYV%'
       AND sip_timestamp >= toDateTime64('2026-07-10 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-11 00:00:00', 9)) AS skhyv_debut_day_option_trades,
    (SELECT dateDiff('day', toDate('2026-06-12'), min(toDate(toTimeZone(sip_timestamp, 'America/New_York'))))
     FROM global_markets.options_trades
     WHERE ticker LIKE 'O:SPCX%'
       AND sip_timestamp >= toDateTime64('2026-06-12 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-11 00:00:00', 9)) AS spacex_days_to_first_option,
    (SELECT dateDiff('day', toDate('2026-05-14'), min(toDate(toTimeZone(sip_timestamp, 'America/New_York'))))
     FROM global_markets.options_trades
     WHERE ticker LIKE 'O:CBRS%'
       AND sip_timestamp >= toDateTime64('2026-05-14 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-11 00:00:00', 9)) AS cerebras_days_to_first_option

0 SKHYV 期权合约于 7 月 10 日成交——这份缺席的凭证被刻意设计为触发机制：该数值被锁定在精确的零值。一旦期权开始成交，该数值将重新生成，从而避免数据因长期未更新而失效。参考同类案例的时间线：SpaceX 于 6 月 12 日上市，其首笔挂牌期权交易出现在上市后的 4 个日历日；Cerebras 于 5 月 14 日上市，耗时 4 —— 两者均在不到一周的时间内完成。待合约上市后，它们将纳入 到期日历 所述的运作体系。

风险与后续关注重点

目前仅有首个完整交易日的数据：由于首个交易日为周五，本页面于周末更新，第二个交易日的数据将于 7 月 13 日（周一）公布。相关数据将记录在每日回顾中，随后将参照 SpaceX 首月回顾 发布月度回顾。关注清单如下：

  • 双重价格结构。在韩国交易时段，首尔普通股以韩元交易；在美国交易时段，ADS 以美元交易。美元价格包含了韩元汇率，市场休市期间可能出现跳空，而存托凭证转换机制会平复这些跳空——因此 ADS 持有者也间接承担了汇率风险。
  • 禁售期。内部人士的禁售条款已在 F-1 文件中设定——通常约为 180 天，具体日期见招股说明书（我们的 EDGAR 索引仅进行计数，不进行解析）。禁售期届满将带来已知的未来供应压力。
  • 指数纳入资格。SpaceX 被纳入指数 展示了纳入公告对新上市股票交易量的影响。指数委员会拥有独立的规则和时间表；若有公告发布，应将其视为交易事件进行观察，而非预测。
  • 首次卖空头寸结算数据。该数据将把首日的卖空交易量转化为实际的持仓数据。

SK Hynix 上市常见问题解答

SK Hynix 的美股代码是什么？在何处交易？

SKHYV 在纳斯达克交易。上市记录包含交易所代码 XNAS（纳斯达克市场识别码）以及证券类型 ADR：美国存托股份（ADS）。普通股仍在首尔上市。

SK Hynix 的美股上市规模如何？

以每股 158.14 美元发行 177.9 百万份 ADS，募资额为 28.1B。这是 2026 年规模第二大的美股上市项目。根据 H1 账本，规模仅次于 SpaceX 在 6 月完成的 1 交易。

SK Hynix 首日股价表现如何？

开盘价为 170 美元，较发行价高出 7.5%。当日波动区间为 166.19–177 美元，收盘价为 168.33 美元，较发行价上涨 6.4%。当日常规交易成交额为 18.03B 美元，为当日成交量第五大的交易时段。

一份 SKHYV ADS 代表多少股普通股？

该比例在 F-6 注册文件中已固定（上市前已备案 1），上市记录中并未包含此字段。在对比美股价格与首尔报价前，请查阅 F-6 文件或存托银行的计划页面。

SK Hynix 的期权何时开始交易？

上市首日未成交任何 SKHYV 期权合约。今年另外两起大规模上市项目分别在 4 天和 4 天后才迎来首笔期权交易。若 SKHYV 遵循此模式，期权将在上市后一周内推出。本页面将在期权上市时发出预警。

数据说明

完整数据说明
  • 代码验证 (frontmatter verified_tickers)：SKHYV 在 2026 年 7 月 10 日之前显示 0 分钟线；IPO 记录显示该代码在当日挂牌 SK Hynix Inc —— 此为新代码，无前序实体历史，已针对本文时间窗口完成验证。
  • 交易时段筛选：常规交易数据采用转换时区后的 ET 时间分钟区间（美东时间 9:30 am–3:59 pm）；仅 day_shares_m 包含盘后交易数据。
  • 卖空成交量清洗：通过 GROUP BY + max() 进行行去重；total_volume 为 FINRA 报告的场外成交量，而非综合行情数据。
  • 期权可比性：计算从挂牌日至期权行情首次打印之间的日历天数，并根据代码前缀进行根目录修剪。

每个面板均为针对挂牌记录、SEC 文件和行情数据的存储版查询——如需查看 SQL 源码，请前往 Strasmore 终端查看详细说明。

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