China's CXMT expects revenue to surge as memory chip demand soars

Changxin Memory Technologies (CXMT), China's top memory chipmaker, said on Sunday it expects first-half revenue to reach 110 billion yuan to 120 billion yuan ($17.62 billion), according to a renewed prospectus, as surging memory chip prices boost its ‌business outlook.

Memory ⁠chip ⁠prices have risen globally as an artificial intelligence-driven boom in computing chips fuels a memory supercycle. The rally helped push Samsung Electronics' market capitalisation above $1 trillion in May.

CXMT said global dynamic random-access memory (DRAM) demand exceeded supply as computing demand continued to grow and major chipmakers adjusted production. ⁠That has ‌driven DRAM prices sharply higher since the second half of 2025. The company added that revenue ⁠rose quickly as it expanded output and sales and improved its product mix.


CXMT's initial public offering is being closely watched by foreign investors and industry observers as a gauge of China's progress in DRAM chips, which have become increasingly important in the AI era because they enable faster data transmission ‌between processors and memory.

The Hefei-based company said net profit attributable to shareholders is expected to reach up to 57 billion ⁠yuan in the first half.

In the first quarter, CXMT's revenue jumped more than 700% year on year to 50.8 billion yuan. It posted a net profit of 25 billion yuan, compared with a net loss of 1.6 billion yuan in the same period a year earlier.

($1 = 6.8092 Chinese yuan)