China's CXMT Reports 1,688% Profit Jump Amid Memory Chip Shortage

China’s memory chipmaker CXMT reported a 1,688% profit surge in early 2026 due to a global shortage of memory chips. This sharp increase highlights CXMT’s growing role in the semiconductor industry and intensifies competition in the worldwide chip market. Meanwhile, China’s YMTC is advancing plans for an initial public offering, signaling further expansion in the country’s memory chip sector.