Shares in Chinese memory chipmaker ChangXin Memory Technologies, or CXMT, dropped 6.5 per cent on Monday, CNBC reports, even though the company had just forecast a dramatic return to profit.
In a filing on Friday, CXMT said it expected net profit of between 131 billion and 132.5 billion yuan, about $19.6 billion, for the first nine months of 2026, compared with a loss of 5.28 billion yuan a year earlier. It put revenue at roughly 265 billion to 270 billion yuan.
The company credited soaring demand for AI computing since the second half of 2025, which has caused shortages and steep price rises for DRAM memory. According to Counterpoint Research, CXMT took 10 per cent of global DRAM revenue in the third quarter, up from 5 per cent a year earlier, as it competes with Samsung, SK Hynix and Micron.
Source: CNBC