CXMT stock news
ChangXin Memory Technologies (CXMT) successfully launched its initial public offering on the Shanghai Stock Exchange's STAR Market (Ticker: 688825) on July 27, 2026. The company's shares experienced a record--breaking debut, surging 465.82% from the initial offering price of 8.66 yuan to close at 49.00 yuan. This performance propelled CXMT's market capitalization to approximately 3.28 trillion yuan ($484.6 billion), establishing it as the most valuable company on the A--share market and surpassing the Industrial and Commercial Bank of China (ICBC). The IPO raised 57.92 billion yuan ($8.6 billion), which the company intends to utilize for expanding DRAM manufacturing capacity and advancing research into next--generation memory technologies.