CXMT Corporation stock rises 2.6 percent as DRAM investment surges

CXMT Corporation (CNE100007WP2) closed at CNY 56.97 on the Shanghai Stock Exchange on September 21, 2026, gaining 2.6 percent on the session. The move followed a report that the DRAM maker is preparing CNY 52.44 billion in long-term plant and equipment commitments, a 206.2 percent increase from the end of 2025.

Investment commitments triple

According to ChosunBiz on September 23, 2026, long-term acquisition and construction commitments stood at CNY 52.44 billion at the end of June, compared with CNY 17.13 billion at the end of 2025. That 206.2 percent increase points to an aggressive capacity and technology expansion cycle.

Cash spending on factories and equipment reached CNY 21.59 billion in the first half of 2026, down 10.5 percent from the same period a year earlier. At the same time, equipment and construction prepayments rose 234.4 percent from the end of 2025 to CNY 3.995 billion, showing that a substantial portion of the investment pipeline had moved into advance commitments.

Revenue jumps 873.64 percent

TrendForce reported on September 23, 2026, that CXMT generated CNY 150.31 billion in revenue during the first half of 2026, up 873.64 percent year over year. The company ranked first among Chinese A-share semiconductor companies by revenue in the period.

The operating result also changed sharply. CXMT reported first-half operating profit of CNY 117.14 billion, compared with an operating loss in the prior-year period, while its operating margin reached 77.9 percent. Operating cash flow rose to CNY 131.16 billion, approximately 31 times the prior-year figure, and exceeded capital spending on factories and equipment by 6.1 times.

Stock stays tied to execution

Research and development spending reached CNY 6.86 billion in the first half of 2026, up 87.4 percent year over year, according to ChosunBiz. For investors, the key comparison is therefore not only the 873.64 percent revenue increase, but whether the company can convert exceptional DRAM pricing into durable cash generation while funding capacity expansion.

CXMT stock closed at CNY 56.97 on the Shanghai Stock Exchange on September 21, 2026, with a daily gain of 2.6 percent. The company is listed under ticker 688825 and operates in the semiconductor and semiconductor equipment industry.

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