Chinese memory chip stocks rallied on Monday after ChangXin Memory Technologies (CXMT) disclosed sharply stronger first-quarter results and an upbeat first-half outlook in its updated listing prospectus, as the global memory shortage boosts China’s semiconductor supply chain.
GigaDevice, a chip designer and CXMT shareholder, rose 6.57 per cent on Monday to close at 400 yuan per share, taking its gain over the past month to more than 40 per cent. In Hong Kong, GigaDevice shares rose 8 per cent on May 18 to close at HK$587.50.
Biwin Storage, one of CXMT’s largest vendors, jumped 8.10 per cent to 331.1 yuan per share, with its share price more than doubling since March.
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This comes after the Hefei-based DRAM producer reported revenue of 50.8 billion yuan (US$7.4 billion) in the first quarter, up 719 per cent from a year earlier. Net profit reached 33.01 billion yuan, compared with a loss of 2.83 billion yuan in the same period last year.
The company forecast revenue of 110 billion yuan to 120 billion yuan for the first half of 2026, compared with 15.44 billion yuan a year earlier. It expects first-half net profit of 66 billion yuan to 75 billion yuan, reversing losses from the same period last year.
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CXMT said the surge was driven by fast-rising DRAM prices, expanding sales volumes and an improved product mix, as memory has been in short supply since the second half of 2025.
