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CXMT Company, mother or father of Chinese language reminiscence chip big ChangXin Reminiscence Applied sciences (CXMT), goals to boost 29.5 billion yuan (US$4.2 billion) from an preliminary public providing in Shanghai to fund know-how upgrades, as Beijing presses forward with its drive for tech self-reliance amid geopolitical tensions.
The Shanghai Inventory Alternate acquired CXMT’s utility for a list on the Nasdaq-style Star Market, a submitting on the bourse’s web site confirmed on Tuesday evening. This marks a essential step in direction of a list for China’s largest dynamic random-access reminiscence (DRAM) designer and producer.
The corporate deliberate to subject not more than 10.62 billion new shares, the submitting stated.
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By way of fundraising scale, CXMT’s IPO is ready to change into the second-largest on the Star Market since its launch in 2019, trailing solely the 53.2 billion yuan raised by chip foundry Semiconductor Manufacturing Worldwide Company‘s itemizing in 2020.
CXMT’s IPO is ready to change into the second-largest on the Star Market. Picture: Handout alt=CXMT’s IPO is ready to change into the second-largest on the Star Market. Picture: Handout>
CXMT’s itemizing can also be notable as the primary “pre-review” challenge to be accepted on the Star Market. On the identical day its prospectus was acquired, the bourse disclosed two rounds of pre-review inquiries and responses performed in November.
The pre-review mechanism, launched by the China Securities Regulatory Fee in June, is much like a confidential submission. It’s designed to guard data and know-how safety for corporations engaged in essential core applied sciences, whereas avoiding untimely disclosure of delicate particulars that might result in operational and aggressive dangers.
Based in 2016, CXMT is an built-in reminiscence producer specialising within the design, analysis and improvement, manufacturing, and gross sales of DRAM chips. Its merchandise are extensively utilized in servers, cell gadgets, private computer systems and good autos, with main shoppers together with Alibaba Group Holding’s cloud computing unit Alibaba Cloud, ByteDance, Tencent Holdings, Lenovo, Xiaomi, Transsion, Honor, Oppo and Vivo. Alibaba owns the Publish.
CXMT was China’s largest and the world’s fourth-largest DRAM producer, based mostly on 2024 manufacturing capability and cargo quantity, in accordance with information from Omdia. Within the second quarter of 2025, CXMT’s world market share elevated to three.97 per cent.
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