CXMT Forecasts Record Profit as Shares Drop Over 8%

ChangXin Memory Technologies (CXMT) projected net profit attributable to shareholders of 131 billion to 132.5 billion yuan for the January-to-September period of 2026, reversing a 5.28 billion-yuan loss recorded in the same span a year earlier. Revenue is expected to reach 265 billion to 270 billion yuan, up from roughly 32 billion yuan a year prior. Despite the outlook, CXMT’s shares plunged more than 8 % on October 19 on the Shanghai Stock Exchange, pushing its market capitalization below CNY 3 trillion.

CXMT Says AI Demand Flipped Its DRAM Business Profitable

CXMT has become the fourth-largest global DRAM supplier, holding just over 10 % of worldwide DRAM revenue. The company debuted on Shanghai’s STAR Market on July 27, opening at CNY 49.50—a 471 % premium to its IPO price of CNY 8.66—and quickly rose to the top of China A-shares. Capacity expansions at its Hefei and Beijing lines, together with R&D in high-bandwidth memory (HBM), have underpinned this ascent.

China's CXMT Profit Growth Slows Sharply in Q3; Shares Plunge 8% — BigGo Finance

• July 27 – CXMT lists on STAR Market.

China's CXMT pushes into next-gen DRAM, but can it compete on cost?

• September 4 2026 – Facility view captured in Qingdao, Shandong.

CNBC

• October 16 – Third-quarter earnings preview and share-buyback plan released; market anticipates positive impact.

China's CXMT Profit Growth Slows Sharply in Q3; Shares Plunge 8% — BigGo Finance

• October 19 – Shares fall >8 % in early trading; market cap dips below CNY 3 trillion.

China's CXMT Profit Growth Slows Sharply in Q3; Shares Plunge 8% — BigGo Finance

• Net profit forecast: 131–132.5 billion yuan vs. 5.28 billion-yuan loss (2025).

CXMT Shares Fall 6.5% Despite Nine-Month Profit Forecast

• Revenue forecast: 265–270 billion yuan vs. 32.1 billion yuan (2025).

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• Q3 net profit estimate: 53.395–54.895 billion yuan (? $8.0–8.2 billion), representing 1–4 % quarter-on-quarter growth after a 113 % surge in Q2.

China's CXMT Profit Growth Slows Sharply in Q3; Shares Plunge 8% — BigGo Finance

• DRAM price growth (QoQ): +93–98 % (Q1), +58–63 % (Q2), +13–18 % (Q3).

China's CXMT Profit Growth Slows Sharply in Q3; Shares Plunge 8% — BigGo Finance

• Market share: 10 % of global DRAM revenue in Q2 2026, up from 4 % in Q2 2025; fourth globally behind Samsung, SK Hynix and Micron.

CXMT Shares Fall 6.5% Despite Nine-Month Profit Forecast

CXMT’s filing attributes the turnaround to rapid AI-driven demand since the second half of 2025, which has tightened global DRAM supply and driven “significant price increases.” President Cao Kanyu told a Shanghai semiconductor conference earlier this month that the firm plans to launch a 4F-squared DDR5 registered DIMM by the end of 2026, leveraging a proprietary vertical-gate transistor architecture to boost density while curbing leakage. An industry source noted that CXMT has been able to charge Chinese customers above Samsung’s price for comparable 64 GB DDR5 modules, giving it leeway to absorb higher production costs as it expands capacity.

China's CXMT pushes into next-gen DRAM, but can it compete on cost?

• One source cites a 5.28 billion-yuan loss for the prior year, while another references a 5.3 billion-yuan loss; the discrepancy reflects rounding differences.

CNBC

• CXMT has not disclosed manufacturing yields, capacity, or speed for the upcoming 4F-squared DDR5 product, leaving a gap in assessing its commercial viability.

China's CXMT pushes into next-gen DRAM, but can it compete on cost?

• CXMT is slated to release its second-quarter results in the coming weeks.

China's CXMT Profit Growth Slows Sharply in Q3; Shares Plunge 8% — BigGo Finance