China memory chipmaker CXMT skyrockets 470% in Shanghai debut
A general view of CXMT office buildings in Shanghai, China, on July 15, 2026, as CXMT is seen raising billions of dollars for its artificial intelligence technology (Photo: Ying Tang/NurPhoto via Getty Images)
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Shares of Chinese chipmaker Changxin Technology Group rose nearly 470% on Monday as it debuted on Shanghai’s tech-heavy STAR Market.
The Hefei-based company raised 57.92 billion yuan ($8.6 billion) after pricing its IPO at 8.66 yuan per share. The shares rose to 49 yuan apiece at the opening.
Based on sales figures for the fourth quarter of 2025, CXMT had a 7.67% share of the global DRAM market in 2025, according to its IPO prospectus. DRAM chips are used in many electronic devices, from smartphones to servers.
According to a Google translation of the information in the brochure, the company, founded in 2016 by chairman Zhu Yiming, plans to increase its technological capabilities and core competitiveness by using the IPO proceeds primarily for memory wafer mass production and R&D projects.
CXMT posted an operating profit of 35.43 billion yuan in the first quarter, down from a loss of 2.83 billion yuan a year earlier, as it saw continued growth in global demand for computing power and capacity allocation from major manufacturers.
The listing comes at a time when CXMT has received increased attention following reports earlier this month that Apple had begun testing the Chinese chipmaker’s DRAM for devices sold in China.
The global DRAM market is dominated by Samsung Electronics, SK Hynix and Micron Technology.
