China’s CXMT posts massive 870% revenue surge as ‘aggressive expansion’ pays off

Chinese chipmaker ChangXin Memory Technologies (CXMT) reported a sharp surge in first-half revenue on Friday, as the firm released its first financial results since becoming China’s most valuable publicly traded company in a blockbuster Shanghai listing last month.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 earnings boom has been fuelled by skyrocketing demand for memory products from the Artificial Intelligence industry. CXMT said global DRAM supplies remained tight and prices continued to rise in the first half, a supply shortage that it expected to persist in the coming months.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.