ChangXin Memory Technologies (CXMT), China’s leading DRAM chipmaker, announced plans to raise 29.5 billion yuan ($4.22 billion) through an initial public offering of 10.6 billion shares in Shanghai. The funds will be used to upgrade production lines, advance technology, and support research and development of next-generation DRAM, reports Reuters.
Founded in 2016 with state backing, CXMT operates three 12-inch DRAM fabrication plants in Beijing and Hefei, Anhui province. The company, backed by investors including Alibaba and Xiaomi, has developed four generations of DRAM technology and held a 4% share of the global DRAM market in Q2, while Samsung, SK Hynix, and Micron together controlled over 90%.
CXMT is also investing in high-bandwidth memory (HBM) for advanced processors like Nvidia GPUs used in AI applications. The company expects revenue to rise up to 140% in 2025 and aims to become profitable by 2026, following losses of 8.32 billion yuan in 2022, 16.3 billion yuan in 2023, and 7.1 billion yuan in 2024.
Bd-pratidin English/ Jisan
