CXMT: Q1–Q3 Net Profit May Reach RMB 132.5 Billion

According to ChangXin Memory Technologies (CXMT), one of China's leading DRAM manufacturers, the company expects significant revenue and profit growth in the first three quarters of 2026, driven by rising AI computing demand, improving DRAM market conditions, and continued advances in manufacturing efficiency and product development.

On the evening of October 16, CXMT released its earnings forecast for the first three quarters of 2026. The company expects revenue to reach approximately RMB 265 billion to RMB 270 billion, representing an increase of RMB 232.916 billion to RMB 237.916 billion compared with the same period last year.

Net profit attributable to shareholders is projected to reach approximately RMB 131 billion to RMB 132.5 billion, an increase of RMB 136.280 billion to RMB 137.780 billion year over year.

CXMT Reports Continued Quarterly Growth

According to previously disclosed financial data, CXMT recorded revenue of RMB 50.8 billion and net profit attributable to shareholders of RMB 24.762 billion in the first quarter of 2026. In the second quarter, revenue increased to RMB 99.51 billion, while net profit reached RMB 52.843 billion.

Based on these figures and the latest earnings forecast, third-quarter revenue is estimated at RMB 114.69 billion to RMB 119.69 billion, representing quarter-over-quarter growth of approximately 15.25% to 20.28%. Net profit attributable to shareholders is projected to reach RMB 53.395 billion to RMB 54.895 billion, up approximately 1.04% to 3.88% from the previous quarter.

AI Demand and Rising DRAM Prices Support Performance

CXMT attributed its strong performance to the rapid growth in AI computing demand since the second half of 2025, which has improved conditions across the global DRAM industry. Strong demand and tight supply have contributed to a substantial increase in memory prices.

The company has continued expanding production capacity, advancing product research and development, and improving manufacturing processes. These efforts have helped increase wafer output and capacity utilization, while strengthening economies of scale.

CXMT has also optimized its operational management, expanded its market presence, and deepened collaboration with upstream and downstream industry partners to support business growth.

During the reporting period, the company capitalized on favorable market conditions through sustained R&D investment and ongoing process technology upgrades. These initiatives have helped optimize its product mix, maintain high capacity utilization, and improve overall financial performance.

As AI infrastructure investment continues to drive demand for memory chips, CXMT's latest earnings forecast highlights the importance of production efficiency, manufacturing capacity, and technology development in the increasingly competitive DRAM market.