Chinese memory chipmaker Changxin Technology Group (CXMT) saw its shares surge about 470% Monday as they debuted on Shanghai’s tech-heavy STAR Market. The Hefei-based company raised 57.92 billion yuan ($8.6 billion) after pricing its IPO at 8.66 yuan per share, with shares soaring to 49 yuan at the open. According to its IPO prospectus, CXMT held a 7.67% share of the global DRAM market in the fourth quarter of 2025, a segment dominated by Samsung Electronics, SK Hynix and Micron Technology. The company posted an operating profit of 35.43 billion yuan in the first quarter, swinging from a loss of 2.83 billion yuan a year earlier, driven by continued growth in global computing power demand.
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