General view of CXMT workplace buildings is seen in Shanghai, China, on July 15, 2026, as CXMT raises billions for AI know-how (Photo by Ying Tang/NurPhoto through Getty Images)
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Shares of chipmaker Changxin Technology Group rose about 470% Monday as they debuted on Shanghai’s tech-heavy STAR Market, making CXMT probably the most useful China-listed firm.
The Hefei-based firm raised 57.92 billion yuan ($8.6 billion) after pricing its IPO at 8.66 yuan per share, making it Asia’s largest thus far this yr.
CXMT shares surged to over 49 yuan apiece on open, giving the corporate a market cap of about 3.3 trillion yuan.
Based on gross sales figures for the fourth quarter of 2025, CXMT held a 7.67% share of the worldwide DRAM market in 2025, in response to its IPO prospectus. DRAM chips are used in digital units starting from smartphones to servers.
The international DRAM market is dominated by Samsung Electronics, SK Hynix, and Micron Technology.
“I have no doubt the company is going to grow to be a global leader. It’s maybe just a question of time that it can be not only a challenger, it can be a global champion in this particular sector,” stated Theodore Shou, CEO at Yiyi Capital on CNBC’s “Squawk Box Asia.”
The itemizing comes at a time when CXMT has seen elevated consideration, following reports earlier this month that Apple has begun testing the Chinese chipmaker’s DRAM for units offered in China.
CXMT swung to an working revenue of 35.43 billion yuan in the primary quarter from a lack of 2.83 billion yuan a yr earlier, because it noticed continued development in international computing energy demand and capability allocation by main producers.
“A 470% performance on day one isn’t that rare. What’s very prominent in this particular case is a company of this size performing so well,” Shou stated. In the previous, such efficiency was primarily pushed by smaller-cap corporations, he stated, including that for CXMT, the comparatively restricted free float on day one, mixed with the built-up market sentiment, had been key components driving the surge.
Founded in 2016 by Chairman Zhu Yiming, the corporate plans to make use of the IPO proceeds primarily for memory wafer mass manufacturing and R&D initiatives to spice up its technological capabilities and core competitiveness, in response to a Google translation of the knowledge in the prospectus.
