Key facts
- Chinese memory chipmaker CXMT has become the most valuable company listed on mainland China or Hong Kong exchanges.
- CXMT surpassed Tencent Holdings in market capitalization.
- CXMT went public in July.
- The company's rise is attributed to a memory crunch and its IPO.
Chinese memory chipmaker CXMT has become the most valuable company listed on mainland China or Hong Kong exchanges, surpassing Tencent Holdings. The company, which went public in July, has benefited from a memory crunch in the industry. This surge in valuation highlights the growing importance of China's domestic semiconductor industry and the shifting landscape of its largest listed companies.