Two months after its major IPO, ChangXin Memory Technologies (CXMT) announced a 34.9 billion yuan investment (approximately $5.2 billion) to expand its research and development and production capabilities. The plan is intended to narrow the technology gap with competitors such as Samsung and SK Hynix, particularly in advanced High Bandwidth Memory (HBM).
The investment includes 24.1 billion yuan for a new technology R&D center and 10.8 billion yuan for the second phase of a memory wafer back-end testing base. The company plans to use 18 billion yuan in proceeds from the IPO’s over-allotment.
CXMT plans to prioritize domestic Chinese equipment suppliers as it expands, supporting its push for supply chain self-sufficiency. The company earned more than 400 million yuan per day in the first half of 2026. After the announcement, its stock rose 1.95% in morning trading on September 29.