[News] China’s CXMT Reportedly Begins IPO Counselling, Aims to Be First Memory Chip Firm on A-Share

According to Reuters, a document from China’s securities regulator shows that CXMT Corporation—the parent company of Chinese DRAM maker ChangXin Memory Technologies—has initiated the “counselling process” as part of its preparations for an initial public offering (IPO).

The document indicates that CXMT has enlisted two state-owned investment banks, China International Capital Corporation and CSC Financial, to support the IPO process. However, it provides no details on the timeline or intended listing venue. It also does not specify which of CXMT’s assets might be included in the offering, nor whether the listing will involve its DRAM-manufacturing subsidiary, the report adds.

As noted by Chinese media outlet Caijing, if the IPO moves forward successfully, CXMT could become the first A-share listed company focused on memory chips.

Document cited by STCN notes that CXMT Corporation has a registered capital of RMB 60.19 billion.

CXMT was founded in 2016 and produces DRAM chips used in smartphones, PCs, tablets, servers, and other consumer electronics, according to the company’s website.

Nikkei highlights that CXMT has already manufactured LPDDR4 and DDR4—older-generation DRAM used in entry- to mid-range devices—and has started small-scale production of LPDDR5, an advanced memory type adopted in premium smartphones such as the iPhone and Samsung’s Galaxy S and Z series.

IPO Momentum Builds Across China’s Chip Sector

With Chinese tech companies actively pursuing IPOs, two Chinese AI chip startups—Beijing-based Moore Threads and Shanghai-based MetaX—are aiming to raise a combined RMB 12 billion (USD 1.65 billion), based on their filings cited by Reuters. Moore Threads is seeking RMB 8 billion, while MetaX targets RMB 3.9 billion. Both intend to list on the STAR Market, the tech-focused board of the Shanghai Stock Exchange, as Reuters notes.

Read more

• [News] U.S. Rumored to Mull Adding DRAM Giant CXMT and More Chinese Tech Firms to Entity List
• [News] Chinese Memory Makers, Led by CXMT, Advance in the DRAM Market, Challenging Samsung, SK Hynix, and Micron

(Photo credit: CXMT)