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BackChina's CXMT sees shares drop over 6% as investors look past chipmaker's profit turnaround
China's CXMT sees shares drop over 6% as investors look past chipmaker's profit turnaround
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CNBC2 hours agoBusiness1 min read

China's CXMT sees shares drop over 6% as investors look past chipmaker's profit turnaround

changxin memory technologiescxmtdram

Quick Look

ChangXin Memory Technologies (CXMT) projected a net profit of 131-132.5 billion yuan for January-September 2026, reversing a prior-year loss, driven by surging AI-related demand for DRAM and global supply shortages, despite its shares falling 6.5% on Monday.

AI-generated summary

Why It Matters

ChangXin Memory Technologies (CXMT) is a Chinese semiconductor manufacturer competing in the global DRAM market. The company has been gaining market share amid rising demand for AI computing power, which has tightened global memory chip supply and driven up prices.

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Shares of ChangXin Memory Technologies , or CXMT, fell 6.5% Monday even as the company on Friday forecast a sharp swing to profitability for the first nine months of 2026.

CXMT said in a filing Friday that it expects net profit attributable to shareholders of between 131 billion yuan ($19.58 billion) and 132.5 billion yuan for the January-to-September period, reversing a net loss of 5.28 billion yuan a year earlier, according to a Google translation of the filing.

The company expects revenue of around 265 billion yuan to 270 billion yuan, an increase of 232.9 billion yuan to 237.9 billion yuan from the same period a year earlier.

The company attributed the sharp improvement to rapidly growing demand for AI computing power since the second half of 2025, which has boosted the global DRAM market, leading to supply shortages and significant price increases, according to the filing.

CXMT has been gaining ground in the global memory chip market, challenging established players including Samsung Electronics, SK Hynix and Micron Technology.

The Chinese chipmaker accounted for 10% of global DRAM revenue in the third quarter of 2026, up from 5% a year earlier, according to Counterpoint Research's data last month.

What to Watch

AI outlook — possibilities, not facts

  • CXMT will achieve net profitability in the first nine months of 2026 as forecasted

    Likely · Within months

  • CXMT will continue to gain market share in the global DRAM market through 2026

    Likely · Within months

Open Questions

  • What specific factors caused CXMT's shares to fall 6.5% despite the positive profit forecast?
  • How sustainable is CXMT's projected growth given the cyclical nature of the semiconductor industry?
  • What are the potential risks to CXMT's profit forecast if AI demand slows or DRAM supply increases?

Related Topics

changxin memory technologies
OrganizationsChangXin Memory TechnologiesSamsung ElectronicsSK HynixMicron Technology
PlacesChina
Topicscxmtdramai computingsamsungsk hynixmicron
This article was originally published by CNBC.

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