CXMT says its fifth-generation DRAM platform is now in mass production, along with two 24Gb LPDDR5X products built on it. The company says the platform has an 11.95nm half-pitch in the memory array’s active area, uses quadruple patterning, and has capacitors with a 45-to-1 aspect ratio. Analysts who initiated coverage of CXMT in late August had that generation, which they pegged at roughly 15nm class, going into mass production in H2 2028. They also had CXMT about two generations behind Samsung and Micron, with restricted EUV access as the main brake. Node class and array half-pitch are measured differently, so the 11.95nm figure does not directly map to the analysts’ 15nm classification. Their supply model counts about 300,000 wafers a month in 2026 and roughly 100,000 more each year after that. CXMT says the new platform gets more than 50% more gross die out of the same wafer at an 8Gb basis, its own figure, which would lift bit output without adding wafer starts.

CXMT Executive: $MU ➤ Unveils 24-Gbit LPDDR5X products based on new platform ➤ New 24-Gbit LPDDR5X products have 50% more capacity than prior equivalent products ➤ New platform's gross dies per wafer at least 50% higher than previous platform ➤ Achieved process advances through joint R&D with domestic equipment makers

CXMT is preparing a NAND flash R&D production line at its new Beijing plant, potentially putting China’s top DRAM maker into direct competition with Samsung, SK Hynix, Micron $MU and domestic rival YMTC. CXMT has already discussed the plans with customers, including a startup looking to use its NAND chips in storage systems for AI and supercomputing. It is not yet clear when production will begin or whether CXMT will move from R&D and trial runs into large-scale commercial manufacturing. CXMT raised $8.6B in July in Asia’s largest IPO of 2026 and is also planning a second memory-chip plant in Beijing. Source: Reuters

CXMT achieved an 82% EBIT margin for the April-June quarter, ahead of peers. As Hynix and Samsung shifted attention to AI servers, DDR5 prices skyrocketed, and CXMT benefited greatly. Since the first quarter of this year, the profitability of HBM has fallen below that of DDR5, according to TrendForce. SK Hynix, Samsung, and Kioxia shares trade at multiples in the single digits. But CXMT's ratio is nearly 20, reflecting investors' high expectations for the company's growth.

CXMT the 4th largest supplier of DRAM Memory in the world filed a lawsuit against the 🇺🇸 Department of Defense, seeking removal from a blacklist that identified the Chinese 🇨🇳 chipmaker as a supporter of the Communist country’s military - Bloomberg

CXMT filed a lawsuit against the US Department of Defense, seeking removal from a blacklist that identified the Chinese chipmaker as a supporter of the Communist country’s military