Changxin Memory Tech Shares Surge Over 470% on Shanghai Listing
Shares of Changxin Technology Group (CXMT) surged approximately 470% during their debut on the STAR Market in Shanghai. The company, China's largest DRAM manufacturer, raised $8.6 billion from its IPO priced at 8.66 yuan per share. CXMT plans to use the proceeds for memory wafer mass production and R&D projects aimed at enhancing technological capabilities. Founded in 2016 by chairman Zhu Yiming, CXMT reported a significant turnaround with an operating profit of 35.43 billion yuan in Q1 2026 from a loss a year earlier. The company's market share stood at 7.67% globally for DRAMs as of late 2025. The listing follows increased attention, including reports that Apple is testing CXMT’s chips for devices sold in China.
Topics: ai china dram_chips semiconductors