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China’s CXMT swings to a nearly $20B profit as memory prices soar

Chinese memory chipmaker CXMT expects a net profit of 131B to 132.5B yuan ($19.6B to $19.8B) for January to September, compared with a 5.3B yuan loss a year earlier. Revenue jumped to 265B to 270B yuan as AI demand caused memory shortages. Its chairman also proposed a share buyback of up to 2B yuan. Chinese […] This story continues at The Next Web

Published Oct 16, 2026 · 5:00 PMOriginal source: The Next Web11 reads
China’s CXMT swings to a nearly $20B profit as memory prices soar
Chinese memory chipmaker CXMT expects a net profit of 131B to 132.5B yuan ($19.6B to $19.8B) for January to September, compared with a 5.3B yuan loss a year earlier. Revenue jumped to 265B to 270B yuan as AI demand caused memory shortages. Its chairman also proposed a share buyback of up to 2B yuan. Chinese […] This story continues at The Next Web
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