During this morning's A‑share trading session, CXMT, China's leading domestic memory chip firm, saw its share price surge. Its intraday gain peaked at 9.6%, pushing its total market capitalization back above the 4‑trillion‑yuan threshold.
The rally is backed by solid industry fundamentals. Senior executives from multiple major overseas memory manufacturers have publicly stated that supply shortages will emerge in the memory market and are set to last at least until 2027. AI servers and smart devices are generating massive demand for memory products, while global supply of memory chips fails to keep pace with rising demand.
Domestic memory makers are pressing ahead with capacity expansion, and domestic substitution is accelerating. Supporting chip‑making equipment and electronic materials are also overcoming capacity bottlenecks, setting the entire industrial chain for a cycle of earnings growth.
Headquartered in Hefei, Anhui Province, CXMT was founded in 2016 and listed on the STAR Market on July 27, 2026. It is the only enterprise in mainland China to achieve full‑process independent mass production of DRAM chips. Adopting the IDM model, it handles in‑house chip design and wafer fabrication. Worldwide, only four companies boast end‑to‑end self‑developed and self‑produced DRAM capabilities: Samsung, SK Hynix, Micron and CXMT.