CXMT eyes Shanghai listing to fund DRAM expansion


The company will use the listing proceeds to upgrade production lines and technologies, it said in a prospectus. — Reuters

BEIJING: China’s leading maker of dynamic random access memory (DRAM) chips, ChangXin Memory Technologies Corp (CXMT), says it plans to raise 29.5 billion yuan (US$4.22bil) through an initial public offering of 10.6 billion shares in Shanghai.

The company, which directly challenged South Korean and US rivals by unveiling its latest DDR5 DRAM chips in November, will use the listing proceeds to upgrade production lines and technologies, it said in a prospectus on Tuesday.

Some will also be allocated towards research and ​development of advanced DRAM, it added.

Founded with state backing in 2016, CXMT spearheads China’s efforts to gain a foothold in the global DRAM market, dominated by South Korea’s Samsung Electronics and SK Hynix, and US-based Micron Technology.

With investors such as Alibaba and Xiaomi after nine funding rounds, it has developed four generations of DRAM technology.

It runs three ‍12-inch DRAM fabrication plants in ‍Beijing, ​and at its headquarters at Hefei in the eastern province of Anhui.

CXMT held a share of 4% of the global DRAM market in the second quarter of 2025, while Micron, SK Hynix and Samsung together controlled more than 90%, according to data from ‍research firm Omdia cited in ‍the prospectus.

The chipmaker is also investing heavily in high-bandwidth memory (HBM), a specialised DRAM critical ‌for advanced processors, such as Nvidia’s graphics processing units, used in generative artificial intelligence applications.

It aims to begin production by the end of 2026 at an HBM back-end packaging facility it is building in the commercial hub of Shanghai.

The company expected revenue to surge as much as 140% year-on-year in 2025. — Reuters

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Charting a new growth phase
Jewellery is out, gold bars are in
Divided over AI fears
Branching out beyond palm oil
Indonesia faces an investor exodus
Indonesia’s burning issue
Stocks favoured despite rising risks
Safe havens face fresh test
Rate normalisation in focus
Sitting pretty in China

Air Pollutant Index

Note: API is calculated based on 24hr running average of the most dominant parameter.

Highest API Readings

    Select State and Location to view the latest API reading

    Others Also Read