China's CXMT Sees Shares Drop Over 6% as Investors Look Past Chipmaker's Profit Turnaround

CXMT shares fell over 6% on Monday after the company released its earnings forecast for the first nine months of 2026.

China's CXMT Sees Shares Drop Over 6% as Investors Look Past Chipmaker's Profit Turnaround

TL;DR

  • CXMT shares dropped 6.5% on Monday.
  • The company forecasts a net profit of 131-132.5 billion yuan for the first nine months of 2026, reversing a prior year loss.
  • Expected revenue is around 265-270 billion yuan.
  • The profit improvement is linked to rising AI computing power demand, which has driven up global DRAM prices and caused shortages.
  • CXMT's share of global DRAM revenue grew to 10% in Q3 2026 from 5% a year earlier.
  • CXMT is challenging established memory chip manufacturers like Samsung, SK Hynix, and Micron.

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