Up to 82%, Changxin's profit margin has surpassed that of Samsung and SK Hynix, making it the memory manufacturer with the highest profitability level.
News on September 11 shows that according to the latest data from QUICK FactSet, a global economic survey and analysis platform, ChangXin Memory Technologies (CXMT) achieved an EBIT margin of 82% in the second quarter of 2026, surpassing SK Hynix (76%) and Samsung Electronics' semiconductor business (70%) in one go, making it the most profitable memory chip manufacturer worldwide in that period. In the same period, CXMT's revenue increased by approximately 10 times year-on-year, recording the highest growth rate among the six enterprises including CXMT, Samsung, SK Hynix, Micron, Kioxia and SanDisk.
Some analysts believe that the rise in CXMT's profit margin is closely related to the changes in supply and demand of memory chips in this round. As Samsung, SK Hynix and Micron allocate more resources to high-bandwidth memory for AI servers, the supply of ordinary DRAM has tightened, and the price of DDR5 has risen sharply, from which CXMT has benefited.
CXMT's market share is also expanding. The latest global DRAM market analysis report released by market research institution Counterpoint Research shows that the total global DRAM market revenue in the second quarter of 2026 surged by 385% year-on-year. Among them, Samsung Electronics (38%), SK Hynix (25%) and Micron (24%) still occupy the top three positions in the global DRAM market. However, CXMT is growing rapidly: its share in the global DRAM market revenue in the second quarter of this year has risen to 10%, up 4 percentage points year-on-year and 2 percentage points quarter-on-quarter, ranking fourth.
It is reported that this is the first time that CXMT's quarterly DRAM market share has reached a double-digit percentage. In 2023, CXMT accounted for less than 1% of the global DRAM market revenue share. However, thanks to the explosive DRAM demand and skyrocketing price brought by the AI boom, CXMT's market share has grown rapidly from 4% in the second quarter of last year to 8% in the first quarter of this year, and continued to maintain the growth momentum in the second quarter.
According to the official website, CXMT is an integrated memory manufacturing company focusing on the design, R&D, production and sales of dynamic random access memory chips (DRAM). Founded in 2016, CXMT is headquartered in Hefei, Anhui Province, and has multiple R&D centers and branches at home and abroad. CXMT's technical team has rich R&D experience and innovation capabilities, and has launched a number of commercial DRAM products, which are widely used in mobile terminals, computers, servers, virtual reality, the Internet of Things and other fields.
At the end of July, CXMT completed industrial and commercial changes, with its registered capital increasing from about 23.89 billion RMB to about 31.39 billion RMB, an increase of 7.5 billion RMB, representing a growth rate of about 31%. This capital increase is a continuation of a series of capital operations after its parent company Changxin Technology (688825.SH) went public.
Changxin Technology was officially listed on the Sci-Tech Innovation Board on July 27 this year. Financial reports show that in the first half of 2026, Changxin Technology achieved operating revenue of 1503.1 billion RMB, with a year-on-year increase of 873.64%; the net profit attributable to shareholders of listed companies was 776.05 billion RMB, turning from loss to profit compared with the same period of last year. In the same period, the gross profit margin of the company's main business was 84.84%.
In the second quarter of this year, Changxin Technology's business growth rate was relatively high. Calculated based on the previously announced first-quarter performance, Changxin Technology's second-quarter revenue was 995.1 billion RMB, skyrocketing 977.4% year-on-year and increasing by about 95.9% quarter-on-quarter; the net profit attributable to shareholders reached 528.43 billion RMB, turning profit from loss year-on-year and growing by 113.4% quarter-on-quarter.
The year-on-year and quarter-on-quarter growth rates of Changxin Technology's second-quarter revenue are far ahead of the top three DRAM original manufacturers. Among them, Samsung's second-quarter revenue was 171.5 trillion won, up 130% year-on-year and 28% quarter-on-quarter; SK Hynix's second-quarter revenue was 79.3187 trillion won, up 257% year-on-year and 51% quarter-on-quarter; Micron's revenue in the third quarter of fiscal 2026 (as of May 28, 2026) was 41.456 billion US dollars, up 346% year-on-year and 74% quarter-on-quarter.
Changxin Technology stated that the substantial growth of the company's performance during the reporting period mainly benefited from the rapid growth of global computing power demand, the shortage of DRAM products in supply and the sharp rise in product prices. The R&D investment in the first half of the year reached 6.859 billion RMB, up 87.38% year-on-year.
Changxin Technology is China's largest and most comprehensively laid-out integrated DRAM R&D, design and manufacturing enterprise, whose main business covers the R&D, design, production and sales of DRAM products. The company's products cover two mainstream series of DDR and LPDDR, including DDR5, LPDDR4X, LPDDR5/5X, LPDDR6, etc., which are applied in server, mobile device, personal computer, smart vehicle and other market segments.
The company has carried out cooperation with core industry customers such as Tencent, Alibaba Cloud, ByteDance, Lenovo and Xiaomi. At present, the company is actively expanding its business, and has formed a dual-base layout of 12-inch DRAM wafer manufacturing in Hefei and Beijing. By the end of 2026, the company's monthly wafer production capacity is expected to exceed 300,000 pieces, and the capacity scale will be more than three times that of the second-tier domestic DRAM manufacturers.
This article is from the WeChat Official Account "Jiemian News", written by Hou Ruining, and published with authorization by 36Kr.