{"id":828392,"date":"2026-07-27T03:10:08","date_gmt":"2026-07-27T03:10:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/828392\/"},"modified":"2026-07-27T03:10:08","modified_gmt":"2026-07-27T03:10:08","slug":"china-memory-chipmaker-cxmt-skyrockets-470-in-blockbuster-shanghai-debut","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/828392\/","title":{"rendered":"China memory chipmaker CXMT skyrockets 470% in blockbuster Shanghai debut"},"content":{"rendered":"

General view of CXMT office buildings is seen in Shanghai, China, on July 15, 2026, as CXMT raises billions for AI technology (Photo by Ying Tang\/NurPhoto via Getty Images)<\/p>\n

Nurphoto | Nurphoto | Getty Images<\/p>\n

Shares of chipmaker Changxin Technology Group<\/a> rose about 470% Monday as they debuted on Shanghai’s tech-heavy STAR Market, making CXMT the most valuable China-listed company. <\/p>\n

The Hefei-based company raised 57.92 billion yuan ($8.6 billion) after pricing its IPO at 8.66 yuan per share, making it Asia’s biggest so far this year. <\/p>\n

CXMT shares surged to over 49 yuan apiece on open, giving the company a market cap\u00a0of about 3.3 trillion yuan.<\/p>\n

Based on sales figures for the fourth quarter of 2025, CXMT held a 7.67% share of the global DRAM market in 2025, according to its IPO prospectus.\u00a0DRAM chips are used in electronic devices ranging from smartphones to servers.<\/p>\n

The global DRAM market is dominated by Samsung Electronics, SK Hynix, and Micron Technology<\/a>.\u00a0<\/p>\n

“I have no doubt the company is going to grow to be a global leader. It’s maybe just a question of time that it can be not only a challenger, it can be a global champion in this particular sector,” said Theodore Shou, CEO at Yiyi Capital on CNBC’s “Squawk Box Asia<\/a>.”\u00a0<\/p>\n

The listing comes at a time when CXMT has seen increased attention, following reports<\/a> earlier this month that Apple has begun testing the Chinese chipmaker’s DRAM for devices sold in China.<\/p>\n

CXMT swung to an operating profit of 35.43 billion yuan\u00a0in the first quarter from a loss of 2.83 billion yuan a year earlier, as it saw continued growth in global computing power demand and capacity allocation by major manufacturers.\u00a0<\/p>\n

“A 470% performance on day one isn’t that rare. What’s very prominent in this particular case is a company of this size performing so well,” Shou said. In the past, such performance was primarily driven by smaller-cap companies, he said, adding that for CXMT, the relatively limited free float on day one, combined with the built-up market sentiment, were key factors driving the surge.<\/p>\n

Founded in 2016 by Chairman Zhu Yiming, the company plans to use the IPO proceeds primarily for memory wafer mass production and R&D projects to boost its technological capabilities and core competitiveness, according to a Google translation of the information in the prospectus.<\/p>\n

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"General view of CXMT office buildings is seen in Shanghai, China, on July 15, 2026, as CXMT raises…\n","protected":false},"author":2,"featured_media":828393,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[7175,2158,45,161,49,48,289375,164,189646,50078,6549,16677,61],"class_list":["post-828392","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-apple-inc","tag-breaking-news-technology","tag-business","tag-business-news","tag-ca","tag-canada","tag-cxmt-corp","tag-ipo","tag-ishares-semiconductor-etf","tag-micron-technology-inc","tag-shanghai","tag-sk-hynix-inc","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/828392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=828392"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/828392\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/828393"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=828392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=828392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=828392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}