ChangXin Memory Technologies (CXMT) reported a more than 700% year-on-year jump
in first-quarter revenue to 50.8 billion yuan ($7.5 billion), with profit
exceeding 20 billion yuan after a loss in the same period last year, according to
to its IPO prospectus. The Chinese memory chipmaker forecast strong first-half
earnings growth, including net income rising more than 2,200%, driven by soaring
DRAM prices amid global AI data center demand. Memory shortages have pushed DRAM
prices sharply higher, with further increases expected, according to industry
estimates. CXMT, which supplies major tech firms including Alibaba, Tencent and
ByteDance, plans to raise 29.5 billion yuan in what could be China’s largest IPO
this year on Shanghai’s STAR Board, supported by R&D spending exceeding 9
billion yuan in 2025.
