ChangXin Memory Technologies (CXMT) projected net profit of 131 billion to 132.5 billion yuan for January–September 2026, following a 5.3 billion yuan loss a year before, the South China Morning Post reported on 19 October 2026 from a stock exchange disclosure dated 16 October.
Key points
- CXMT forecast nine-month revenue of 265 billion to 270 billion yuan, compared with 32 billion yuan a year earlier.
- Third-quarter revenue was estimated at 114.7 billion to 119.7 billion yuan, up 15% to 20% from the second quarter.
- Chairman Zhu Yiming proposed buying back 1 billion to 2 billion yuan of shares over 12 months, subject to approval.
CXMT’s revenue forecast and quarterly growth
CXMT expected revenue of 265 billion to 270 billion yuan from January to September, compared with 32 billion yuan in the same period of 2025. The South China Morning Post described the year-on-year increase as 742%. The Asia Business Daily put the increase at about 725% to 741%.
For the third quarter, CXMT estimated revenue of 114.7 billion to 119.7 billion yuan, a rise of 589% to 619% from a year earlier and 15% to 20% from the second quarter, Seoul Economic Daily reported. The Asia Business Daily reported that net profit attributable to parent-company shareholders was forecast at 53.395 billion to 54.895 billion yuan, up about 1.0% to 3.8% from the preceding quarter.
CXMT recorded 77.6 billion yuan in net income in the first half of 2026. The company attributed the forecast increase in sales and profit to stronger demand for AI computing, a shortage of dynamic random-access memory, or DRAM, and higher prices. It also said capacity expansion, product development and process improvements had increased output per wafer and capacity utilisation.
Zhu Yiming proposes a 12-month buy-back
Chairman Zhu Yiming proposed on 16 October that CXMT buy back 1 billion to 2 billion yuan of its shares. The proposal requires board or shareholder approval and would fund employee incentive plans or reduce registered capital, the South China Morning Post reported. The Asia Business Daily said CXMT would use its own capital or funds it raised independently.
Share buy-backs by companies on Shanghai’s STAR Market typically range from 200 million to 800 million yuan, Seoul Economic Daily reported. CXMT said its proposal reflected confidence in the company’s development and was intended to support investor confidence, according to The Asia Business Daily.
CXMT’s shares reached 61.8 yuan in August, up from an initial public offering price of 8.66 yuan in July, before closing at 45.02 yuan on 16 October, according to the South China Morning Post. Zhu’s proposal came after that decline from the August peak.
CXMT’s server DRAM plan faces a qualification test
CXMT announced on 9 October that it planned to launch server DRAM using a 4F-squared cell structure during 2026, Seoul Economic Daily reported. The design reduces cell area by roughly 33% against the 6F-squared structure currently used across the industry, according to the publication. It reported that Samsung Electronics was working towards mass production using 4F-squared cells in sub-10-nanometre DRAM by 2028.
AI Affairs previously reported that Samsung Electronics and SK hynix shares slid as the Kospi halted trading on 15 October. Rosenblatt analyst Kevin Cassidy argued that CXMT’s proposed cells could be about 34% larger than rivals’ existing 6F-squared products because of differences in process technology. Mizuho Securities analyst Jordan Klein said CXMT had not released full specifications or verified yields.
CXMT expects to release a new generation of DDR5 enterprise-grade server memory incorporating the design by the end of 2026, according to the South China Morning Post.
