---
title: "China's CXMT Posts Nearly $20B Profit in First Nine Months of 2026 Amid Memory Price Boom"
description: "China's CXMT reported a preliminary net profit of about $20 billion for the first nine months of 2026 according to Bloomberg, turning around from losses a year earlier, while revenue surged over eightfold amid rising memory prices."
date: 2026-10-18T09:25:06.511Z
lang: en
url: https://xab.info/en/posts/cxmt-posts-20b-profit-2026
tags: [cxmt, dram, ddr5, memory-chips, china, ai-boom, ipo]
author: "Roman V."
publisher: "XAB.info"
---

# China's CXMT Posts Nearly $20B Profit in First Nine Months of 2026 Amid Memory Price Boom

![CXMT DDR5 memory microchip against a futuristic city background with a processor chip and contacts](https://xab.info/media/2026/10/18/cxmt-vyhod-v-pribil-20-mld-2026/cxmt-vyhod-v-pribil-20-mld-2026-1.webp)

## Key Points

- In the first nine months of 2026, CXMT earned a net profit of $19.6–19.8 billion according to preliminary Bloomberg data, compared to a $792 million loss a year earlier.
- The company's revenue for the three quarters surged more than eightfold to $39.6–40.4 billion from $4.8 billion.
- According to Counterpoint Research, CXMT is the world's fourth-largest DRAM maker with about 10% of global revenue.
- The main profit driver is surging memory prices amid the AI boom; CXMT DDR5 memory sells at prices on par with Samsung, SK hynix, and Micron.
- A summer IPO made CXMT China's most valuable public company; the firm is ready to spend $150–300 million on a share buyback.

Chinese memory chip manufacturer ChangXin Memory Technologies (CXMT) is showing a sharp reversal in financial dynamics: while the company ended the first nine months of last year with a net loss of $792 million, the same period in 2026 brought it an estimated net profit ranging from $19.6 to $19.8 billion, according to preliminary Bloomberg data. Revenue for the past three quarters is projected to reach between $39.6 and $40.4 billion, compared to $4.8 billion a year earlier—an increase of more than eightfold. The transition from multi-million-dollar losses to a profit of about $20 billion in a single year has become one of the most notable financial shifts in the global semiconductor market.

### Fourth Place Worldwide in DRAM

According to Counterpoint Research data for the second quarter of 2026, CXMT already ranks fourth globally among DRAM dynamic memory manufacturers in monetary terms, controlling about 10% of global revenue in this segment. The company's revenue in the second quarter grew two-and-a-half times year-over-year, and it also holds the fourth position in terms of memory production volumes. Prior to this achievement, the company, founded in 2016, remained a relatively young player that, despite rapid growth, could not shake off losses—however, preliminary statistics for the first nine months of 2026 indicate that this barrier has been overcome this year.

### Memory Prices and AI Boom as the Main Driver

The primary contribution to the eightfold revenue growth came from soaring memory chip prices. According to industry publications, the appearance of modules based on CXMT chips on the market did not lead to the expected price drop: the cost of DDR5 memory based on its chips remains practically at the level of products from the top three manufacturers—Samsung, SK hynix, and Micron. Analysts attribute the maintenance of high prices to the ongoing artificial intelligence boom and the reallocation of production capacities in favor of AI solutions, which creates shortages against the backdrop of recovering electronics demand. Thus, even the expansion of the number of suppliers is not yet exerting pressure on the price level.

### Capacity Expansion and Share Buyback

Despite record profits, CXMT does not intend to limit itself to revenue growth. The company remains among the global leaders in the rate of expanding its own production facilities, and the attracted funds are being directed not only to increasing output but also to mastering new technologies, including promising memory formats. In addition, CXMT is ready to spend between $150 and $300 million to buy back its own shares from the market. Amid the AI boom, this supports the attractiveness of its securities for investors.

### IPO and Status of China's Most Valuable Public Company

The summer stock exchange listing made CXMT China's most valuable public company. According to the Financial Times and The Wall Street Journal, the company set the offering price at 8.66 yuan per share and sold 6.6 billion new shares: basic fundraising amounted to about 57.9 billion yuan, and taking into account the greenshoe option, it could reach 66.7 billion yuan (approximately $9.8 billion) with an implied capitalization of about 579.2 billion yuan ($85.5 billion). This is the largest IPO in mainland China since the Agricultural Bank of China listing in 2010 and one of the largest Asian offerings of 2026, highlighting the scale of the new chip market cycle.

## Fact-Check & Sources

- [Высокие цены на память позволили китайской CXMT выйти в прибыль по итогам трёх первых кварталов этого года window-new](https://3dnews.ru/1150094/visokie-tseni-na-pamyat-pozvolili-kitayskoy-cxmt-viyti-v-pribil-po-itogam-tryoh-pervih-kvartalov-etogo-goda) - Primary source: profit of $19.6–19.8 billion, revenue of $39.6–40.4 billion (preliminary Bloomberg data), losses of $792 million a year earlier, 4th place in DRAM (Counterpoint, 10% revenue), share buyback of $150–300 million.
- [Выход на IPO, интерес Apple и высокие цены на память помогут CXMT запустить производство HBM в Китае](https://3dnews.ru/1144752/vihod-na-ipo-interes-apple-i-visokie-tseni-na-pamyat-pomogut-cxmt-zapustit-proizvodstvo-hbm-v-kitae) - Первоисточник: прибыль $19,6–19,8 млрд, выручка $39,6–40,4 млрд (предварительные данные Bloomberg), убытки $792 млн годом ранее, 4-е место по DRAM (Counterpoint, 10 % выручки), выкуп акций $150–300 млн.
- [Память выходит на биржу: что IPO CXMT говорит о новом цикле на рынке чипов](https://www.vedomosti.ru/press_releases/2026/07/23/pamyat-vihodit-na-birzhu-chto-ipo-cxmt-govorit-o-novom-tsikle-na-rinke-chipov) - IPO details: price 8.66 yuan, 6.6 billion shares, fundraising up to ~$9.8 billion, capitalization ~$85.5 billion, largest mainland China IPO since ABC 2010; market share ~8%.
- [Надежды рухнули: китайская память CXMT не остановила рост цен на DRAM - она лишь присоединилась к нему](https://www.playground.ru/misc/news/nadezhdy_ruhnuli_kitajskaya_pamyat_cxmt_ne_ostanovila_rost_tsen_na_dram_ona_lish_prisoedinilas_k_nemu-1862325) - CXMT DDR5 memory appeared in modules priced on par with Samsung, SK hynix, Micron; no price advantage; shortages and AI boom keep prices high.

## FAQ

### How much was CXMT's profit for the first nine months of 2026?

According to preliminary Bloomberg data, net profit for the first three quarters of 2026 is projected to be between $19.6 and $19.8 billion, whereas a year earlier the company posted a net loss of $792 million for the same period.

### What is CXMT's share of the global DRAM market?

According to Counterpoint Research data for Q2 2026, CXMT ranks fourth globally among DRAM manufacturers in revenue terms with about 10% of the global market; its market share was estimated at roughly 8% in IPO documents.

### Why did the company's profits grow so sharply?

The main reason was the skyrocketing prices of memory chips amid the AI boom and shortages, as well as an over eightfold increase in revenue to $39.6–40.4 billion for the nine months compared to $4.8 billion a year earlier.