China’s CXMT posts massive 870% revenue surge as ‘aggressive expansion’ pays off

Chinese chipmaker ChangXin Memory Technologies (CXMT) reported a sharp surge in first-half revenue on Friday, as the firm released its first financial results since becoming China’s most valuable publicly traded company in a blockbuster Shanghai listing last month. The Hefei-based firm – China’s leading maker of dynamic random-access memory (DRAM) products – posted revenue of 150.31 billion yuan (US$22.4 billion) for the six months to June, up 873.64 per cent year on year, according to a filing.