According to details available on the Shanghai Stock Exchange's official website, CXMT's application for an Initial Public Offering (IPO) on the STAR Market has been accepted, and its prospectus has been made public. The company aims to raise RMB 29.5 billion through this IPO. As China's largest manufacturer of DRAM memory chips, CXMT has witnessed a steady increase in revenue from 2022 through to the first half of 2025. Nevertheless, it continues to operate at a loss. By the end of June this year, its cumulative losses had amounted to RMB 40.857 billion. The primary contributors to these losses are the company's ongoing capacity expansion, substantial investments in fixed assets, and escalating research and development (R&D) expenditures.

In terms of production capacity and shipment volumes, CXMT holds the top position in China and ranks fourth globally. However, when compared to the top three overseas manufacturers, there remains a considerable disparity in market share. In the second quarter of 2025, CXMT's global market share stood at 3.97%. The memory chip industry is notably susceptible to cyclical fluctuations, and CXMT anticipates achieving profitability by 2026 or 2027. The company's profitability will hinge on factors such as the average unit price of its products and the monthly average shipment volumes.

Furthermore, CXMT confronts several risks, including significant depreciation charges, inventory write-downs, and profit pressures stemming from its R&D activities and capacity expansion initiatives. The company boasts a relatively diversified shareholding structure and offers a wide array of products. The funds raised through this IPO will be predominantly allocated to projects focused on technological advancements.