China's CXMT posts first-half profit after revenue surge

BEIJING, Aug 28 (Reuters) - ‌CXMT, China's ​largest ​chipmaker by market value, posted a sharp turnaround to profit in the ‌first half on Friday in its first ⁠earnings release since listing, buoyed by surging prices and ‌sales of its memory ‌products amid rising global demand for computing power.

• First-half revenue soared 873.64% from a year ​ago to 150.3 billion yuan ($22.36 billion).

• Net profit totalled 77.6 billion yuan, compared to ⁠a loss of 2.3 billion yuan in 2025.

• CXMT sees the ​global shortage of DRAM products persisting in the second half of 2026.

• The ​company also flagged risks ‌from escalating global trade tensions, warning that further restrictions imposed by relevant ⁠countries could destabilise its supply chain and adversely affect production and business operations.

• CXMT said in the filing ⁠that it has shipped samples of its LPDDR6 DRAM ​chips to customers.

• The chip has a peak data transfer speed of 12,800 megabits per second (Mbps) and a ‌maximum capacity of 16 gigabytes (GB), the company said.

• The Hefei-based firm said ‌the chip will be used on mobile devices, ⁠servers and smart ‌cars.

($1 = 6.7208 Chinese ​yuan renminbi)

(Reporting by Ethan Wang, Pan Che and Liz Lee; Editing by Louise ‌Heavens)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Mizuho is bullish on Broadcom ahead of Sept. 2 earnings, citing 30-quarter streak
• Marvell (MRVL) Stock: Risk/Reward Skewed to the Upside Near-Term Following Selloff, Says Analyst
• Hafnia Limited (HAFN) Tops Q2 EPS by 1c