The stock was last trading at 52 yuan (US$7.7). The company’s prospectus showed CXMT held a 7.67% share of the global dynamic random-access memory market in 2025.

It plans to use most of the proceeds for memory wafer mass production.

That would add to China’s gains in memory chips.

TrendForce said Chinese suppliers could reach 10% of the global memory chip market in 2025 and said CXMT was a main driver of that growth.

TrendForce also said CXMT was not blacklisted in the latest US export-control round, leaving it with access to some non-cutting-edge tools even as advanced expansion remained constrained.

🔗 Source: CNBC