ChangXin Memory Technologies (CXMT) Co., Ltd. officially submitted its prospectus to the Shanghai Stock Exchange (SSE) on the evening of December 30, announcing its intention to list on the SSE STAR Market. The joint sponsors for the IPO are CICC and CSC Financial Co., Ltd.
As stated in the prospectus, CXMT is China's largest, most technologically advanced, and most comprehensively integrated enterprise engaged in the R&D, design, and manufacturing of DRAM chips. Since its establishment in 2016, the company has focused exclusively on the R&D, design, production, and sales of DRAM products. Adopting a "generation-skipping R&D strategy", CXMT has successfully achieved mass production across technology platforms spanning from the 1st to the 4th generation, and completed product coverage and iteration from DDR4, LPDDR4X to DDR5, LPDDR5/5X. Currently, the company's core products and process technologies have reached international advanced levels.
CXMT operates three 12-inch DRAM wafer fabs in Hefei and Beijing. According to data from Omdia, based on production capacity and shipment volume, CXMT has emerged as China's top and the world's fourth-largest DRAM manufacturer.
The company's STAR Market IPO aims to raise up to RMB 29.5 billion, with the proceeds earmarked for three key initiatives: the technological upgrade and renovation of memory wafer manufacturing mass production lines, the DRAM memory technology upgrade project, and the research and development of forward-looking dynamic random-access memory (DRAM) technologies.