CXMT Forecasts Nine-Month Profit Swing on AI Demand Boom

MT Newswires Live11:52

ChangXin Memory Technologies (SHA:688825) or CXMT expects to swing to a net profit for the first three quarters of 2026, driven by a surge in artificial intelligence computing demand and rising chip prices, according to a weekend filing with the Shanghai Stock Exchange.

Following its 58 billion yuan initial public offering, the semiconductor manufacturer forecasts net profit attributable to shareholders to range between 131 billion yuan and 132.5 billion yuan for the nine months ended Sept. 30. This marks a reversal from a net loss of 5.28 billion yuan during the same period in 2025.

Operating revenue is projected to surge to between 265 billion yuan and 270 billion yuan, compared with 32.1 billion yuan a year earlier.

China's most valuable chip company attributed the reversal to a global DRAM industry boom fueled by AI demand, resulting in significant price increases for its products. In September, CXMT said it will use 13 billion yuan of its over-raised funds to build a new R&D project.

CXMT accounted for 10% of global DRAM revenue in the second quarter of 2026 and 8% in the first quarter, according to data from Counterpoint Research.

The company claimed a breakthrough involving an F2 (4-F-squared) memory cell architecture design ahead of rivals Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660), CXMT President Cao Kanyu said in an interview with Bloomberg recently.

The chip manufacturer's shares fell almost 8% during recent trade on Monday.

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