Semi supply chain · CN
CXMT had a market capitalisation of $458B on 16 October 2026 (listed as 688825.SS; updated every weekday from the market price).
ChangXin Memory Technologies, the Hefei DRAM maker that is China's only memory supplier at scale and now the world's fourth, behind SAMSUNG, SK HYNIX and MICRON. Counterpoint puts it at 8% of DRAM revenue in Q1 2026 against 3% a year earlier, and by Q2 2026 it sat about a point behind Micron - the first time in twelve years that the gap between the third and fourth DRAM makers was that narrow.
ChangXin Memory Technologies, the Hefei DRAM maker that is China's only memory supplier at scale and now the world's fourth, behind SAMSUNG, SK HYNIX and MICRON. Counterpoint puts it at 8% of DRAM revenue in Q1 2026 against 3% a year earlier, and by Q2 2026 it sat about a point behind Micron - the first time in twelve years that the gap between the third and fourth DRAM makers was that narrow. It listed on Shanghai's STAR Market on 2026-07-27 at CNY8.66 a share, raising CNY57.9B (about $8.5B) in the largest STAR offering to date, and closed its first day up 466%, briefly the most valuable mainland-listed company. Its scale matters to this map for two reasons: it is the domestic answer to the memory bottleneck that constrains Chinese AI accelerators, having shipped HBM3 samples to customers including HUAWEI with volume production targeted for the end of 2026 (trade reports, contested - Tom's Hardware says the Ascend 950 series uses Huawei's own HiBL and HiZQ memory instead, so no memory_from edge is drawn yet); and its listing alone moved the incumbents, with US and Korean memory stocks selling off in mid-October 2026 on the arrival of a lower-cost fourth supplier. It trails the big three by at least two generations on advanced memory - chasing HBM3 while they compete on HBM4E - and plans to lift monthly wafer output from 320,000 to 420,000 by 2027. The mark is a HAND SEED read off CNBC's dated quote (CNY3.46T / $520B, 2026-10-13) because this sandbox cannot reach a quote endpoint; the weekday ticker cron owns it from here.
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Last updated 16 October 2026. Follow CXMT in any feed reader to hear when its valuation moves.
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