CXMT forecasts up to 619% revenue growth, proposes 1–2 billion yuan buyback
The Chinese memory chipmaker expects third-quarter revenue of 114.7–119.7 billion yuan and a swing to profit, as its chairman floats a share repurchase.
ChangXin Memory Technologies (CXMT) issued a third-quarter earnings forecast on October 16, 2026, projecting revenue of 114.7–119.7 billion yuan, up 589–619% from a year earlier. The Chinese memory chipmaker also guided to net profit attributable to shareholders of 53.395–54.895 billion yuan, a swing to profit from a loss in the same period last year, according to inews24.com.
For the cumulative January–September period, CXMT forecast revenue of 265–270 billion yuan, up 725–741% year on year, and net profit of 131–132.5 billion yuan, compared with a net loss of 5.3 billion yuan a year earlier.
The company's chairman proposed on October 16 that CXMT buy back 1–2 billion yuan of its own shares. The repurchase would require board or shareholder approval before it can proceed. The proposal is larger than the 200–800 million yuan buybacks typical of companies listed on Shanghai's STAR Market.
Share price swings around the forecast
CXMT shares fell 5.24% on October 15, 2026, pushing its market capitalization below 3 trillion yuan, before rebounding 3.28% the following day to restore the 3 trillion yuan level, according to Chinese outlets including 과창판일보 and 제일재경.
The company said that since the second half of last year, rising AI computing demand has outpaced global DRAM supply and pushed up prices. In July 2026, CXMT raised up to 66.61 billion yuan in an IPO and became the most valuable company on mainland China's stock market on its first trading day.
Quick answers
What revenue did CXMT forecast for the third quarter?
CXMT guided to third-quarter revenue of 114.7–119.7 billion yuan, up 589–619% year on year.
How large is CXMT's proposed share buyback?
The chairman proposed repurchasing 1–2 billion yuan of shares on October 16, 2026; the plan needs board or shareholder approval.
What was CXMT's projected net profit for January–September?
The company forecast cumulative net profit of 131–132.5 billion yuan, against a 5.3 billion yuan net loss a year earlier.