CXMT, a Hefei-based Chinese memory chipmaker, said first-half revenue rose nearly 10x to 150.3 billion yuan (US$22.4 billion), while profit reached 77.6 billion yuan (US$11.6 billion) from a loss a year earlier.

AI-related demand and tight dynamic random-access memory supply lifted memory prices.

About a month earlier, the company raised 66.6 billion yuan (US$9.9 billion) in Shanghai, including an overallotment option, in a record initial public offering that valued it at about US$85 billion and made it China’s most valuable listed chipmaker by market capitalization.

CXMT also said its next-generation LPDDR6 memory has been delivered to customers for validation and is on track for mass production. The low-power DRAM is used in smartphones, tablets, and other mobile devices.

The company said a recent US Department of Defense blacklist would not affect day-to-day operations, though such listings can raise the prospect of US investment curbs.

In July, Apple was reportedly in talks to buy memory chips from CXMT and Yangtze Memory for devices sold in China, while Apple has reportedly been testing CXMT chips as memory supply tighten.

🔗 Source: Bloomberg

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