ChangXin Memory Technologies, a Chinese dynamic random-access memory chipmaker, expects third-quarter revenue of 114.7 billion yuan (US$17.1 billion) to 119.7 billion yuan (US$17.9 billion), according to preliminary results.

The company also expects net profit of 53.4 billion yuan (US$7.9 billion) to 54.9 billion yuan (US$8.2 billion), compared with a loss a year earlier.

CXMT said growth was driven by AI-related DRAM shortages, higher prices, expanded capacity, and improved production processes.

According to Counterpoint Research, CXMT held 10% of global DRAM revenue in the second quarter, up from 4% a year earlier. It ranked fourth behind Samsung Electronics, SK Hynix, and Micron.

CXMT’s chairman proposed a 1 billion to 2 billion yuan (US$299 million) share buyback, subject to board approval.

In January, CXMT was reported to be considering a US$4.2 billion initial public offering amid DDR5 expansion plans. A video caption referred to a Shanghai listing but did not clarify the listing structure.

🔗 Source: Chosun Daily

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