China’s CXMT posts massive 870% revenue surge as ‘aggressive expansion’ pays off
China’s leading DRAM chipmaker outperforms its own forecasts in its first financial results since a blockbuster Shanghai listing
The Hefei-based firm – China’s leading maker of dynamic random-access memory (DRAM) products – posted revenue of 150.31 billion yuan (US$22.4 billion) for the six months to June, up 873.64 per cent year on year, according to a filing with the Shanghai Stock Exchange.
Net profit attributable to shareholders reached 77.61 billion yuan, reversing a loss of 2.33 billion yuan in the same period last year.
The results were well above CXMT’s pre-initial public offering guidance, which forecast first-half revenue of 110 billion to 120 billion yuan and net profit of 50 billion to 57 billion yuan. Revenue exceeded the top end of that range by about 25 per cent, while attributable profit was about 36 per cent higher.
The company has also benefited from expanding production and an improving product mix as it ramps up output of newer products including DDR5, which is increasingly used in personal computers, workstations and servers. DDR-series revenue reached 69.47 billion yuan in the first half, accounting for 46.3 per cent of CXMT’s main business revenue, up from 31.9 per cent in 2025.
CXMT said its latest LPDDR6 chip – capable of speeds of up to 12,800Mbps – had been sent to key customers for validation as the company accelerates preparations for mass production. It marks the first time a Chinese DRAM maker has entered the commercialisation race for a new LPDDR generation at roughly the same time as global industry leaders.