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CXMT posts 54B yuan profit on strong AI demand

ChangXin Memory Technologies posted a third quarter profit of 54 billion yuan driven by surging AI demand. Revenue rose significantly as memory chip prices climbed. The company plans to begin limited HBM3E chip production.

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A logo of China's top memory chipmaker CXMT appears on the facade of company's production facility, in Beijing, China, July 29, 2026. REUTERS/Maxim Shemetov

ChangXin Memory Technologies reported a net profit of 54.4 billion yuan ($8.11 billion) for the third quarter on Friday, following Asia's largest IPO this year.