# China's CXMT Becomes Most Valuable Mainland-Listed Firm After 466% IPO Surge

*2026-07-27 14:01 UTC · Business · 1 min read*

> CXMT shares surged 466% on their Shanghai STAR Market debut, making China's largest DRAM maker the most valuable company on any mainland exchange.

ChangXin Memory Technologies (CXMT), China's largest maker of DRAM memory chips, saw its shares surge as much as 500% intraday before closing up 466% on their Shanghai STAR Market debut on July 27. The Hefei-based company raised roughly $8.6 billion (57.92 billion yuan) in the offering, priced at 8.66 yuan per share — the biggest mainland Chinese semiconductor IPO on record, surpassing SMIC's $7.5 billion 2020 Shanghai listing.

The debut catapulted CXMT's market capitalization to roughly $487 billion (3.3–3.66 trillion yuan), making it the most valuable company listed on any mainland Chinese exchange. Founded in 2016, CXMT is the world's fourth-largest DRAM maker behind Samsung, SK Hynix and Micron, supplying memory chips used in AI servers, smartphones, PCs and cars.

The listing arrives as CXMT's revenue has exploded alongside global AI-driven demand for memory: first-quarter 2026 revenue hit 50.8 billion yuan, up more than 700% year-over-year. Analysts have flagged the surge as a sign of both booming chip demand and speculative fervor on China's tech-focused STAR Market.

## Sources

- [cnbc.com](https://www.cnbc.com/2026/07/27/cxmt-china-market-debut-chipmaker-ipo.html)
- [technode.com](https://technode.com/2026/07/27/cxmt-becomes-chinas-most-valuable-a-share-company-after-8-6-billion-ipo/)
- [usnews.com](https://www.usnews.com/news/business/articles/2026-07-27/chinas-memory-chipmaker-cxmt-shares-soar-in-its-blockbuster-share-listing-in-shanghai)

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TechTools News · https://techtools.cz/tools/news/article/2082-china-s-cxmt-becomes-most-valuable-mainland-listed-firm-after-466-ipo-surge
Česká verze: https://techtools.cz/tools/news/clanek/2155-cinsky-vyrobce-cipu-cxmt-se-po-rustu-akcii-o-466-stal-nejhodnotnejsi-firmou-na