{"id":384309,"date":"2026-07-27T14:01:58","date_gmt":"2026-07-27T12:01:58","guid":{"rendered":"https:\/\/prostartup.it\/chipmaker-cxmt-s-466-market-debut-surge-makes-it-the-most-valuable-china-listed-company\/"},"modified":"2026-07-27T14:01:58","modified_gmt":"2026-07-27T12:01:58","slug":"chipmaker-cxmt-s-466-market-debut-surge-makes-it-the-most-valuable-china-listed-company","status":"publish","type":"post","link":"https:\/\/prostartup.it\/ru\/chipmaker-cxmt-s-466-market-debut-surge-makes-it-the-most-valuable-china-listed-company\/","title":{"rendered":"Chipmaker CXMT\u2019s 466% market debut surge makes it the most valuable China-listed company"},"content":{"rendered":"<div>\n<div><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" 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https:\/\/i2.wp.com\/image.cnbcfm.com\/api\/v1\/image\/108339018-1784788545432-gettyimages-2285591332-tang-cxmthead260715_npU3p.jpeg?v=1784788559&w=1920&h=1080&ssl=1&w=1600&resize=1600&ssl=1 1600w\" fifu-data-src=\"https:\/\/i2.wp.com\/image.cnbcfm.com\/api\/v1\/image\/108339018-1784788545432-gettyimages-2285591332-tang-cxmthead260715_npU3p.jpeg?v=1784788559&w=1920&h=1080&ssl=1\" class=\"ff-og-image-inserted\"><\/div>\n<p><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"RelatedQuotes-relatedQuotes\" id=\"RegularArticle-RelatedQuotes\">\n<div class=\"RelatedQuotes-quotesContainer\">\n<div class=\"RelatedQuotes-titleAndTime undefined\">\n<p class=\"RelatedQuotes-text\">In this article<\/p>\n<\/div>\n<ul class=\"RelatedQuotes-list\">\n<li class=\"QuoteItem-item\" aria-label=\"Quote for null\"><span class=\"QuoteItem-symbol\">688825-SZ<\/span><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"RegularArticle-WatchlistDropdown\" data-analytics-id=\"RegularArticle-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/li>\n<li class=\"QuoteItem-item\" aria-label=\"Quote for null\"><span class=\"QuoteItem-symbol\">688825-SZ<\/span><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"RegularArticle-WatchlistDropdown\" data-analytics-id=\"RegularArticle-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/li>\n<li class=\"QuoteItem-item\" aria-label=\"Quote for null\"><span class=\"QuoteItem-symbol\">SKHY<\/span><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"RegularArticle-WatchlistDropdown\" data-analytics-id=\"RegularArticle-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/li>\n<li class=\"QuoteItem-item\" aria-label=\"Quote for null\"><span class=\"QuoteItem-symbol\">MU<\/span><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"RegularArticle-WatchlistDropdown\" data-analytics-id=\"RegularArticle-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/li>\n<\/ul>\n<\/div>\n<div class=\"RelatedQuotes-cfaButtonContainer\"><button id=\"ArticlePageTickerCreateAccountButton\" class=\"CreateFreeAccountButton-buttonContainer\"><span class=\"CreateFreeAccountButton-buttonText\"><span>Follow your favorite stocks<\/span><span class=\"CreateFreeAccountButton-buttonTextBold\">CREATE FREE ACCOUNT<\/span><\/span><\/button><\/div>\n<\/div>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108339018\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div class=\"InlineImage-imagePlaceholder\" style=\"padding-bottom:55.55555555555556%\">\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<\/div>\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">General view of CXMT office buildings is seen in Shanghai, China, on July 15, 2026, as CXMT raises billions for AI technology (Photo by Ying Tang\/NurPhoto via Getty Images)<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Nurphoto | Nurphoto | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Shares of chipmaker <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Changxin Technology Group<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> soared nearly 466% Monday in their debut on Shanghai&#8217;s tech-heavy STAR Market, making CXMT the most valuable China-listed company. <\/p>\n<p>The Hefei-based firm had raised 57.92 billion yuan ($8.6 billion) after pricing its IPO at 8.66 yuan per share, making it Asia&#8217;s biggest so far this year. <\/p>\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<p>CXMT shares closed at 49 yuan, giving the company a market cap\u00a0of about 3.3 trillion yuan, overtaking Industrial and Commercial Bank of China&#8217;s 2.6 trillion yuan.  <\/p>\n<p>Based on sales figures for the fourth quarter of 2025, CXMT held a 7.67% share of the global DRAM market in 2025, according to its IPO prospectus.\u00a0DRAM chips are used in electronic devices ranging from smartphones to servers.<\/p>\n<\/div>\n<div class=\"group ReadMore-container-cnbc\" id=\"RegularArticle-RelatedLinks-1\" data-test=\"RelatedLinks\" data-analytics=\"RegularArticle-RelatedLinks\">\n<div class=\"ReadMore-title-cnbc\">\n<h2>Read more<\/h2>\n<\/div>\n<div class=\"links\">\n<div class=\"ReadMore-card-cnbc\">\n<div class=\"ReadMore-linkContainer\">\n<div class=\"ReadMore-textContainer\">China&#8217;s largest memory chipmaker sparks fears of a cash drain as it readies for public debut<\/div>\n<\/div>\n<\/div>\n<div class=\"ReadMore-card-cnbc\">\n<div class=\"ReadMore-linkContainer\">\n<div class=\"ReadMore-textContainer\">Chip firm priced as China&#8217;s most valuable company before its IPO brings scrutiny to crypto platform<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>The global DRAM market is dominated by Samsung Electronics, SK Hynix, and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\">Micron Technology<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>.\u00a0<\/p>\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<p>&#8220;I have no doubt the company is going to grow to be a global leader. It&#8217;s maybe just a question of time that it can be not only a challenger, it can be a global champion in this particular sector,&#8221; said Theodore Shou, CEO at Yiyi Capital on CNBC&#8217;s &#8220;Squawk Box Asia.&#8221;\u00a0<\/p>\n<p>The listing comes at a time when CXMT has seen increased attention, following reports earlier this month that Apple has begun testing the Chinese chipmaker&#8217;s DRAM for devices sold in China.<\/p>\n<p>CXMT swung to an operating profit of 35.43 billion yuan\u00a0in the first quarter from a loss of 2.83 billion yuan a year earlier, as it saw continued growth in global computing power demand and capacity allocation by major manufacturers.\u00a0<\/p>\n<p>&#8220;A 470% performance on day one isn&#8217;t that rare. What&#8217;s very prominent in this particular case is a company of this size performing so well,&#8221; Shou said. In the past, such performance was primarily driven by smaller-cap companies, he said, adding that for CXMT, the relatively limited free float on day one, combined with the built-up market sentiment, were key factors driving the surge.<\/p>\n<p>Morningstar said in a note Friday that as AI is increasingly becoming an issue of national security for China, CXMT will likely be a key beneficiary. The research firm added that while CXMT&#8217;s technology still lags global memory leaders, domestic internet giants spearheading AI development will likely drive robust adoption of its chips as Beijing pushes for semiconductor self-sufficiency.<\/p>\n<p>CXMT, founded in 2016 by Chairman Zhu Yiming, plans to boost its technological capabilities and core competitiveness, primarily memory wafer mass production and R&amp;D projects, by employing the IPO proceeds, according to a Google translation of the information in the prospectus.<\/p>\n<p>&#8220;I think we are nearing a short-term peak in terms of sentiment around the memory cycle,&#8221; Shou warned, adding that investors have already been selling into the IPO, particularly in China.\u00a0&#8220;These memory chip businesses are sustainable, but the great margins and net profitability we&#8217;re seeing today are not sustainable and have to normalize over a cycle,&#8221; he said.\u00a0<\/p>\n<p>He also added that while this may not be the peak for share prices, the market is right at the peak of a demand and supply imbalance.<\/p>\n<\/div>\n<div id=\"ArticleBody-MobileAdhesion\" class=\"MobileAdhesion-container\" data-module=\"mps-slot\"><\/div>\n<hr \/>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>In this article 688825-SZ 688825-SZ SKHY MU Follow your favorite stocksCREATE FREE ACCOUNT General view of CXMT office buildings is seen in Shanghai, China, on<\/p>","protected":false},"author":1,"featured_media":384310,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/108339018-1784788545432-gettyimages-2285591332-tang-cxmthead260715_npU3p.jpeg","fifu_image_alt":"Chipmaker CXMT\u2019s 466% market debut surge makes it the most valuable China-listed company","footnotes":""},"categories":[11],"tags":[807,704,1965,2547,397,2233],"class_list":["post-384309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-inv-business","tag-china","tag-company","tag-debut","tag-makes","tag-market","tag-surge"],"_links":{"self":[{"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/posts\/384309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/comments?post=384309"}],"version-history":[{"count":0,"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/posts\/384309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/media\/384310"}],"wp:attachment":[{"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/media?parent=384309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/categories?post=384309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/tags?post=384309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}