Overview
- CXMT completed its Shanghai STAR Market listing and raised 57.92 billion yuan by pricing shares at 8.66 yuan, and its stock jumped several hundred percent on Monday, July 27, 2026, pushing its market value into the multiple‑trillion‑yuan range.
- Only about 6.7% of CXMT’s enlarged share capital was freely tradable at listing, and massive retail oversubscription combined with a tiny float amplified the first‑day price spike.
- The company says it will use IPO proceeds to expand DRAM production, build DDR5 and HBM capacity, and fund research and development to move up the technology ladder.
- U.S. scrutiny remains unresolved: the Pentagon has designated CXMT as linked to the military and lawmakers have urged limits on purchases, so possible export controls could restrict CXMT’s access to advanced tools and foreign customers.
- CXMT is the world’s fourth‑largest DRAM maker with roughly 7–8% market share in 2025, and its rapid capital raise may reshape DRAM supply and pricing even as the firm still lags incumbents on high‑end HBM technology.