COMPANIES · CHIP MFG & PACKAGING

CXMT

CXMT (ChangXin Memory Technologies) is China's largest maker of DRAM memory chips, based in Hefei. It listed on the Shanghai STAR Market in July 2026.

EnablerChip mfg & packaging
What it does

CXMT (ChangXin Memory Technologies) is China's largest maker of DRAM memory chips, based in Hefei. It listed on the Shanghai STAR Market in July 2026.

Why it matters

DRAM is working memory for servers and AI systems as well as phones and PCs. Reuters reported on 14 July 2026 that CXMT, the world's fourth-largest DRAM maker, is listing on Shanghai's STAR Market under the code 688825.

How it makes money

Phone, PC, server and electronics makers, and chip companies that resell its output, pay it for DRAM chips.

Geography

China (Hefei)

AI stack position

Chip manufacturing, memory and packaging. The foundries, memory makers, and packaging and testing businesses that physically manufacture AI chips. This is where a chip design actually becomes a real, physical piece of silicon.

Competitors

Connections (5)

Every connection below is tied to a readable source, date, classification and statement of its limits. A company source establishes what that company stated; it does not necessarily provide independent confirmation.

Current relationships (2)

GigaDevice holds a minority stake in CXMT
Invested inCurrent
GigaDevice's 2025 annual report says it held 1.80% of CXMT's shares at an investment cost of RMB 2.3 billion.

Source: 2026-04-02 · reviewed 2026-09-26

Evidence: Primary-source statement · Reported operating (as of end-2025)

Limits: Holding as of end-2025, before CXMT's July 2026 IPO; does not establish the current percentage after dilution or any control.

GigaDevice Semiconductor Inc. 2025 Annual Report (HKEX filing) ↗
GigaDevice buys foundry-made DRAM products from CXMT
Buys fromCurrent
GigaDevice disclosed that it procures DRAM-related products manufactured under foundry arrangements from the CXMT group, with 2025 transactions of about RMB 1.18 billion and an estimate of US$221 million for the first half of 2026; its chairman also chairs CXMT.

Source: 2026-01-22 · reviewed 2026-09-26

Evidence: Primary-source statement · Reported operating

Limits: The 2026 figure is an estimate approved for a shareholder vote; does not establish actual 2026 purchases, pricing, or which products are involved.

GigaDevice Notice of the 2026 First Extraordinary General Meeting (HKEX filing) ↗

Dated or announced (2)

Alibaba Group holds a pre-IPO stake in CXMT
Invested inDated / announced
The Seoul Economic Daily, citing a South China Morning Post report, said Alibaba held about 5% of CXMT before its listing after investing about 7.6 billion yuan since 2021.

Source: 2026-07-30 · reviewed 2026-09-26

Evidence: Secondary reporting (unconfirmed by primary parties) · Reported pre-IPO holding

Limits: Secondhand report of a pre-IPO stake; does not confirm the current holding after the listing or any strategic or supply ties.

Alibaba's CXMT Bet Multiplies 20-Fold (Seoul Economic Daily) ↗
CXMT takes DDR5 server-memory orders from Tencent
SuppliesDated / announced
The South China Morning Post reported that CXMT is taking orders for its DDR5 server memory from Tencent and ByteDance after completing customer validation.

Source: 2026-07-02 · reviewed 2026-09-26

Evidence: Secondary reporting (unconfirmed by primary parties) · Orders reported; deliveries not confirmed

Limits: Report of orders around the IPO; does not establish volumes, delivery, value, or whether Tencent uses the memory for AI systems.

Inside CXMT's US$4.3b IPO: soaring profits meet US export threat and high-stakes HBM race (SCMP) ↗

Comparisons (1)

CXMT competes in DRAM with Micron
Competes withComparison only
Reuters reported that CXMT ranks fourth in global DRAM with a 7.7% share, behind Samsung, SK hynix and Micron.

Source: 2026-07-15 · reviewed 2026-09-26

Evidence: Analytical comparison · Product/market overlap

Limits: Market overlap only; CXMT lags in high-bandwidth memory, and this does not establish head-to-head wins for specific customers.

Explainer-What is CXMT and how did it become China's DRAM champion? (Reuters via Yahoo Finance) ↗

Explore it interactively

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Inclusion in this database is not an endorsement of a company or its securities. Nothing here is a recommendation to buy or sell anything, and none of it is individualized investment advice. See the disclosures. Data: AI Map v3.24, released .