Six investment banks are set to earn at least 280.6 million yuan (US$41 million) from ChangXin Memory Technologies’ (CXMT) US$8.6 billion IPO, after the Chinese chipmaker opened subscriptions on July 16.

Its prospectus showed that first-quarter 2026 revenue rose 719% year on year to 50.8 billion yuan (US$7.5 billion).

Net profit reached 33 billion yuan (US$4.87 billion).

CXMT said first-half revenue is expected to reach 110 billion yuan (US$16.2 billion) to 120 billion yuan (US$17.7 billion), after full-year 2025 revenue of 61.8 billion yuan (US$9.13 billion).

Shareholders include Hefei-linked investment vehicles and China’s Big Fund Phase II.

CXMT also faces US export-control risks that could restrict its access to advanced chipmaking tools. The listing comes as research firm IDC said the DRAM market would remain undersupplied into 2027.

🔗 Source: Reuters

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