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ProPakistani
Chinese RAM Maker CMXT Becomes China's Most Valuable Listed Company
ChangXin Memory Technologies (CXMT) experienced a historic trading debut, with shares surging nearly 466% to close at $7.24. This incredible growth makes CXMT the most valuable company on mainland China's A-share market, representing a market cap of approximately $484 billion. The IPO, raising around $8.5 billion, signals a robust interest in China's semiconductor industry, particularly as AI demand escalates amid global supply constraints.
MonitorConfidence: HighShort term horizon
Published 28 Jul 2026, 11:55 UTC2 min read
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Summary
TL;DR
- CXMT's shares soared 466% on the first trading day.
- The company is now the most valuable listed firm in China.
- Raised at least $8.5 billion, becoming one of China's largest semiconductor IPOs.
- CXMT holds 8% to 9% of the global DRAM market.
- The stock debut reflects strong investor interest in semiconductors.
Interesting facts
- CXMT is the first A-share stock with over $20 billion in daily turnover.
- The firm was founded in 2016 and has rapidly become a significant player in the DRAM market.
- The stock price rally occurred despite US export controls limiting advanced chipmaking technology access.