China Memory Giant CXMT Soars 460% in Market Debut, Reaching $450B+ Valuation.
CXMT Debuts on Shanghai Stock Exchange with 460% Surge, Becoming China’s Most Valuable Listed Company ChangXin Memory Technologies ( CXMT ) , China’s leading DRAM manufacturer, made a historic debut on the Shanghai Stock Exchange, closing its first trading day at 49 yuan per share a staggering 460% jump from its initial public offering (IPO) price of 8.66 yuan . The explosive market response propelled CXMT’s market capitalization to 3.3 trillion yuan (~$455 billion USD), instantly establishing it as the most valuable publicly traded company in China. Founded just ten years ago, CXMT specializes in mainstream memory solutions, including DDR5, LPDDR4, and LPDDR5 modules. Although the chipmaker has not yet commercialized high-bandwidth memory (HBM) modules used in high-end AI accelerators, the company has capitalized on the global memory pricing rally to deliver strong revenue growth and profitability. Initial market expectations suggested that CXMT would export memory chips globally ...