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In the first quarter, its revenue reached 50.8 billion yuan (US$7.4 billion), up 719 per cent from a year earlier, while net profit was 33.0 billion yuan, compared with a loss of 2.83 billion yuan in the same period last year, the prospectus showed.
The South China Morning Post looks at why CXMT matters, what it means for China’s broader semiconductor supply chain, how far China’s DRAM localisation has progressed, who are its major shareholders and why its profit has changed so dramatically.
What is CXMT and who are its shareholders?
CXMT’s shareholder list reflects both state support and private capital. Its largest shareholders include Hefei Qinghui Jidian Enterprise Management Partnership (21.67 per cent), Hefei Changxin Integrated Circuit, China’s so-called Big Fund Phase II, Hefei Jixin Enterprise Management Partnership and Anhui Investment Group.
Hefei ChangXin Integrated Circuit is wholly owned by Hefei’s industrial investment arm. The mix of local state funds, national chip funds and corporate investors has made CXMT one of the most politically and commercially important listings in China’s chip sector.
