How Chipmaker CXMT Became China's Most Valuable Listed Company

Chinese memory chipmaker Changxin Technology Group (CXMT) surged nearly 466% in its Shanghai STAR Market debut, becoming the most valuable company listed in China, according to CNBC.

The report said the company raised $8.6 billion through its initial public offering, Asia's largest IPO this year. The rally lifted CXMT's market value to about 3.3 trillion yuan, surpassing Industrial and Commercial Bank of China.

According to CNBC, investor optimism has also been fueled by reports that Apple is testing CXMT's DRAM chips for devices sold in China. The company also posted a sharp turnaround to operating profit during the first quarter.

The report said analysts expect Beijing's push for semiconductor self-sufficiency to support CXMT's long-term growth. However, some market experts cautioned that current profit margins and strong investor enthusiasm may moderate as industry supply and demand normalize.

Related Tweet:

A little-known Chinese memory chipmaker has stunned markets.

CXMT surged 470% on its market debut, raised $8.6 billion, and now ranks among China's most valuable companies. pic.twitter.com/WAkyPCAbDs

— NDTV Profit (@NDTVProfitIndia) July 27, 2026

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tippinsightsTIPP Staff