started · updated
CXMT’s Shanghai IPO debut surges over 470% to become China’s most valuable listed firm
ChangXin Memory Technologies (CXMT), China’s largest DRAM maker, listed on the Shanghai STAR Market on 27 July 2026. Its shares jumped between 466 % and 535 % on the first trading day, closing near 52 yuan and lifting the company’s market value to roughly 3.5‑3.7 trillion yuan (about $540‑$550 billion). The offering raised between 57.9 billion and 66.6 billion yuan (≈ $8.6‑$9.8 billion), the biggest mainland tech IPO of the year, and the retail portion was about 212 times oversubscribed with roughly 9.4 million individual orders. The proceeds will be used to expand DRAM production capacity and fund research and development. CXMT now ranks as the world’s fourth‑largest DRAM supplier with an estimated 7.6‑7.7 % share of the 2025 market, and founder Zhu Yiming’s net worth rose about 300 % to roughly $13.9 billion. The spectacular debut underscores the importance of AI‑driven memory demand and China’s push for semiconductor self‑sufficiency.
Entities
AI (artificial intelligence) · AI-driven memory demand · Anhui Investment Group · Apple · Apple Inc. · Beijing · ByteDance · ByteDance Ltd. · ChangXin Memory Technologies (CXMT Corp) · ChangXin Memory Technologies (CXMT) · China · Chinese government
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 11 SOURCES] State‑affiliated shareholders owned roughly 36 % of CXMT before the IPO. mix929.com · wdez.com · kelo.com · wixx.com · wkzo.com · +1 more
- [● 9 SOURCES] CXMT signed a deal with ByteDance worth more than $7 billion. mix929.com · wdez.com · kelo.com · wixx.com · wkzo.com · +1 more
- [○ 1 SOURCE] CXMT reported about $7.5 billion in revenue in the first quarter, a 700 % year‑over‑year increase.
- [● 13 SOURCES] CXMT is the world's fourth‑largest DRAM maker with about 7.7 % market share in 2025. mix929.com · wdez.com · kelo.com · wixx.com · wkzo.com · +3 more
- [DISPUTED] CXMT will list on Shanghai's STAR Market on July 27, 2026, raising about 57.92 billion yuan ($8.6 billion). mix929.com · kelo.com
- [○ 1 SOURCE] Crypto exchanges offered USDT‑settled perpetual contracts on CXMT, trading about $19 million in a 24‑hour period before the IPO. coindoo.com
- [● 10 SOURCES] CXMT's IPO valuation is about 579 billion yuan ($85 billion). mix929.com · wdez.com · kelo.com · wixx.com · wkzo.com · +1 more
- [● 4 SOURCES] CXMT’s IPO valued the company at about 579 billion yuan ($85 billion) before over‑allotment. www.journal-news.com · bccnews.com.tw · financije.hr
- [● 11 SOURCES] CXMT expects first‑half revenue to rise more than sevenfold to about 110 billion yuan. mix929.com · wdez.com · kelo.com · wixx.com · wkzo.com · +2 more
- [● 13 SOURCES] CXMT raised 57.92 billion yuan ($8.6 billion) by selling shares at 8.66 yuan each in its IPO. mix929.com · wdez.com · kelo.com · wixx.com · wkzo.com · +5 more
- [● 15 SOURCES] Only 6.73 % of CXMT’s enlarged share capital is freely tradable at listing. mix929.com · wdez.com · kelo.com · wixx.com · wkzo.com · +5 more
- [● 7 SOURCES] CXMT’s IPO is the biggest mainland‑China semiconductor offering on record, surpassing SMIC’s 2020 $7.5 bn sale. mix929.com · kelo.com · myrepublica.nagariknetwork.com · www.businesstimes.com.sg