CXMT Files for STAR Market IPO: Behind Guangdong Capital's Support for China's Top Memory Chip Maker

CXMT, China’s leading memory chip maker, updated its IPO prospectus for a planned STAR Market listing.

The company said first-quarter revenue rose more than 700% year on year, underscoring rapid growth.

CXMT also disclosed broad backing from state funds, local government capital, and strategic investors, including Guangdong shareholders.

The listing could revalue a key domestic memory-chip producer and support China’s drive to cut reliance on foreign DRAM and NAND suppliers.