China's CXMT Reports 870% Revenue Surge in First Post-IPO Results
CXMT, China's top DRAM chip manufacturer, announced an astonishing revenue increase of 870% for the first half of 2023, marking its initial financial results since going public on the Shanghai Stock Exchange. The company, based in Hefei, reported revenue of 150.31 billion yuan (approximately US$22.4 billion), reflecting a year-on-year growth of 873.64%. Its net profit soared to 77.61 billion yuan, a turnaround from a loss of 2.33 billion yuan the previous year. These figures surpassed the pre-IPO projections of 110-120 billion yuan in revenue and 50-57 billion yuan in profit. CXMT credits its achievements to aggressive growth strategies and enhanced production of advanced products like DDR5, which alone generated 69.47 billion yuan. Additionally, CXMT revealed that its LPDDR6 chip is undergoing validation, a crucial milestone for China's semiconductor independence.
Key facts
- CXMT reported revenue of 150.31 billion yuan (US$22.4 billion) for H1, up 873.64% year-on-year.
- Net profit attributable to shareholders was 77.61 billion yuan, reversing a loss of 2.33 billion yuan.
- Results exceeded pre-IPO guidance: revenue top end by 25%, profit by 36%.
- DDR-series revenue reached 69.47 billion yuan, 46.3% of main business revenue, up from 31.9% in 2025.
- New LPDDR6 chip (12,800Mbps) sent to key customers for validation.
- First Chinese DRAM maker to enter commercialization race for new LPDDR generation simultaneously with global leaders.
- Company based in Hefei, China.
- Listed on Shanghai Stock Exchange.
Entities
Institutions
- CXMT
- Shanghai Stock Exchange
- Nomura
- Intel
Locations
- Hefei
- China
- Beijing
- Shanghai