Insider sources reveal that ChangXin Memory Technologies (CXMT), a prominent Chinese memory chip producer, has entered into a substantial long-term agreement with Tencent to supply DRAM chips. The deal, valued at over RMB 20 billion (nearly US$3 billion), spans a contract term of three to five years. This strategic partnership could potentially smooth the path for CXMT's future public listing. As mainland China's largest and most technologically sophisticated integrated DRAM chip manufacturer, CXMT is headquartered in Hefei, Anhui Province. The company operates under the Integrated Device Manufacturer (IDM) model, which encompasses the entire design and manufacturing process. On June 12, 2026, the China Securities Regulatory Commission (CSRC) gave the green light to CXMT's registration application for an Initial Public Offering (IPO) on the Science and Technology Innovation Board. The company aims to raise RMB 29.5 billion to fund wafer fab technology enhancements and research and development in forward-looking DRAM technologies.