CXMT soars to China’s highest market capitalization after IPO

ChangXin Memory Technologies (CXMT) debuted on Shanghai’s Star Market and its shares surged more than 470% on day one.

The rally lifted CXMT’s market value to about 3.3 trillion yuan, briefly making it the most valuable listed company on the Chinese mainland.

The listing underscores strong investor demand for China’s semiconductor sector and the strategic push for domestic memory chip production.

AI-driven demand and efforts to reduce reliance on foreign suppliers are adding momentum to China’s chip industry.