China memory chipmaker CXMT skyrockets 470% in Shanghai debut

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 beneficial 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 greatest thus far this yr.

CXMT shares emerged to over 49 yuan a bit 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, based on its IPO prospectus. DRAM chips are used in digital gadgets starting from smartphones to servers.

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, based on a Google translation of the knowledge in the prospectus.

CXMT’s 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 world computing energy demand and capability allocation by main producers.

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 gadgets offered in China.

The world DRAM market is dominated by Samsung Electronics, SK Hynix, and Micron Technology.