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CXMT IPO Soars 470%, Becomes China’s Most Valuable Firm

7/27/2026

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Summary

Story summary

CXMT Corp's shares surged 470% on its first Shanghai trading day, lifting value to about 3.3 trillion yuan and making it China’s most valuable listed firm.
The IPO raised 57.92 billion yuan and shares opened at 49.50 yuan, far above the IPO price of 8.66 yuan.
Analysts say CXMT, founded in 2016 in Hefei and ranking fourth in DRAM shipments, faces bottlenecks and limited access to advanced chipmaking tools because of U.S. export controls.

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Story summary

CXMT Corp's shares surged 470% on its first Shanghai trading day, lifting value to about 3.3 trillion yuan and making it China’s most valuable listed firm.
The IPO raised 57.92 billion yuan and shares opened at 49.50 yuan, far above the IPO price of 8.66 yuan.
Analysts say CXMT, founded in 2016 in Hefei and ranking fourth in DRAM shipments, faces bottlenecks and limited access to advanced chipmaking tools because of U.S. export controls.