Key facts
- Anhui party chief Li Lecheng visited CXMT on Wednesday.
- Li pledged to expand the integrated circuit industry.
- CXMT is China's largest DRAM producer and ranks fourth globally.
- CXMT's market capitalization is over 3.2 trillion yuan ($471.2 billion).
- CXMT expects first-half net profit of 50 billion to 57 billion yuan.
Anhui provincial party secretary Li Lecheng visited ChangXin Memory Technologies (CXMT) on Wednesday, pledging to develop integrated circuits as a key industry. During his visit to the company's Hefei headquarters, Li encouraged CXMT to enhance its product offerings and expand its market reach both domestically and internationally.
CXMT, founded in 2016, has rapidly become China's largest DRAM producer and a significant global player, ranking fourth worldwide in capacity. The company's shares saw a substantial surge of 465.82% on their market debut on July 27, achieving a market capitalization exceeding 3.2 trillion yuan (approximately $471.2 billion).
CXMT has focused on independent research and development, investing over 20.6 billion yuan in R&D between 2023 and 2025. The company expects to report a first-half net profit between 50 billion and 57 billion yuan this year.