CXMT updated its IPO prospectus on May 18, 2026, with revised financial forecasts that signal a dramatic turnaround for the Chinese memory chipmaker. The company projects first-half 2026 net profit between 66 billion and 75 billion RMB. This forecasted profit would effectively erase the cumulative losses of 36.65 billion RMB recorded by the end of 2025.
DRAM maker CXMT reports dramatic financial turnaround in updated prospectus
The financial surge stems from a global DRAM supply shortage that has driven prices significantly higher since late 2025. CXMT reported first-quarter 2026 revenue of 50.8 billion RMB, representing a 719.13 percent year-over-year increase. The company forecasts first-half revenue between 110 billion and 120 billion RMB, indicating a growth rate of 612.53 percent to 677.31 percent compared to the same period last year.
CXMT acknowledges that its production capacity still lags behind international leaders Samsung Electronics, SK Hynix, and Micron Technology. The company also admits its output remains far lower than the massive demand within the domestic Chinese market. To address these gaps, the firm plans to use the 29.5 billion RMB raised from its IPO for memory wafer manufacturing upgrades, DRAM technology improvements, and forward-looking research and development.
The chipmaker serves a concentrated group of major technology clients. Top five customers accounted for 67 percent to 74 percent of sales from 2023 to 2025. This client list includes Alibaba, ByteDance, Tencent, Xiaomi, Lenovo, Transsion, Honor, OPPO, and vivo. The strong demand from these domestic giants highlights the critical role CXMT plays in China's local supply chain despite its current scale limitations.
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