China's CXMT Shatters IPO Expectations With 870% Revenue Surge in H1 2026 as DDR5 and AI Demand Fuel Grow

ChangXin Memory Technologies (CXMT), China’s premier chipmaker, has reported an 873.64% year-on-year revenue increase for the first half of 2026.

On Friday, the Hefei-based company, known for its dynamic random-access memory (DRAM) products, revealed revenue of 150.31 billion yuan ($22.4 billion) for the six months ending June, reported the South China Morning Post.

Shareholders saw a net profit of 77.61 billion yuan ($10.8 billion), a sharp turnaround from the 2.33 billion yuan ($325 million) loss reported in the same period last year. The results also far exceeded CXMT’s pre-IPO guidance, which had projected first-half revenue of 110 billion to 120 billion yuan ($15.3 billion to $16.7 billion) and net profit of 50 billion to 57 billion yuan ($7 billion to $7.9 billion).

The earnings surge was driven by soaring demand for memory products from the artificial intelligence industry. CXMT also benefited from higher production and an improved product mix as it ramps up output of newer products, including DDR5 memory used in personal computers, workstations and servers.

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