Advertisement
Why is Chinese DRAM maker CXMT’s IPO attracting so much attention?
ChangXin Memory Technologies is sparking investor interest as DRAM profits soar, AI drives shortages and China pushes for chip self-reliance
3-MIN READ3-MIN
Listen
Howard Liuin Beijing
The planned listing of ChangXin Memory Technologies (CXMT), the country’s leading DRAM maker, is drawing attention after a recent update of its prospectus with a sharp earnings turnaround, showing how quickly the Hefei-based company has benefited from a global DRAM shortage and rising memory prices.
In the first quarter, its revenue reached 50.8 billion yuan (US$7.4 billion), up 719 per cent from a year earlier, while net profit was 33.0 billion yuan, compared with a loss of 2.83 billion yuan in the same period last year, the prospectus showed.
The South China Morning Post looks at why CXMT matters, what it means for China’s broader semiconductor supply chain, how far China’s DRAM localisation has progressed, who are its major shareholders and why its profit has changed so dramatically.
What is CXMT and who are its shareholders?
Founded in 2016 and headquartered in Hefei, the capital city of the central province of Anhui, CXMT is widely regarded as China’s only domestic DRAM maker to have achieved mass production.
Select Voice
Select Speed
1x
AI-generated voice