China's CXMT Surges 156% Revenue to $8.6B in 2025, Becomes Fourth-Largest DRAM Maker

According to SemiAnalysis, on June 24, China's largest DRAM manufacturer Changxin Memory (CXMT) posted 156% revenue growth to approximately $8.6 billion in 2025 while achieving its first $1 billion net profit. Q1 2026 revenue climbed further to $7.3 billion, up roughly 700% year-over-year. The company is advancing toward a Shanghai Stock Exchange IPO, potentially marking one of China's largest semiconductor listings in recent years. CXMT has become the world's fourth-largest DRAM maker and is rapidly narrowing the gap with global peers as DRAM prices enter a historic bull cycle. Market share is projected to expand from 9% in 2025 to 12% by 2027.
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