A large screen shows the latest stock exchange and economy data in Shanghai, China, 15 June 2026. Photo by ALEX PLAVEVSKI / EPA
July 28 (Asia Today) -- China's successful stock market debut of its largest DRAM manufacturer has fueled expectations that the company could challenge the three global leaders in memory chips, though Chinese media acknowledged that a significant technological gap remains.
ChangXin Memory Technologies, commonly known as CXMT, became the most valuable company in China's domestic A-share market after its shares surged 465.82% during their first day of trading on Shanghai's technology-focused STAR Market on Monday.
The shares closed at 49 yuan ($7.24), compared with an initial public offering price of 8.66 yuan ($1.28).
The closing price gave CXMT a market capitalization of about 3.28 trillion yuan ($484.5 billion), surpassing the Industrial and Commercial Bank of China, previously the country's most valuable domestically listed company.
