CXMT (688825.SH) Stock Forum, Discussions & Community Posts | Longbridge

© 2026 Longbridge｜Terms of Service Privacy Policy

Share your thoughts

Write something you'd like to share with our community...

港
港股投研所12 hours ago
Earned 4.6 billion less!
On its first day of listing, CXMT surged by over 500%, with a total market capitalization exceeding 3.5 trillion yuan, topping the A-share market cap rankings; Country Garden Venture Capital previously sold its equity at a low price, missing out on nearly 46 billion yuan in potential gains; meanwhile, the Hang Seng Tech Index strengthened driven by news, with placement shareholders such as Alibaba seeing paper profits exceeding 160 billion yuan. The biggest focus of the market today is undoubtedly CXMT's listing on the STAR Market. Within half a day, CXMT rose by over 500%, with turnover exceeding 100 billion yuan and a total market cap surpassing 3.5 trillion yuan, overtaking ICBC to become the number one A-share stock by market cap...
V
ValueNvest15 hours ago
$CXMT(688825.SH) took a look
This A-share market is too NB!
CXMT
SH688825
H
Hardik Shah18 hours ago
📢 𝗝𝗨𝗦𝗧 𝗜𝗡: Changxin Technology Shares Surge 𝟰𝟳𝟬% in STAR Market Debut - CNBC - $Sandisk(SNDK.US) $Micron Tech(MU.US) $Seagate Tech(STX.US) $WDX $SK Hynix(SKHY.US)
👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:
➤ 𝗖𝗵𝗮𝗻𝗴𝘅𝗶𝗻 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 shares surged about 𝟰𝟳𝟬% in market debut.
➤ Company raised $𝟴.𝟲 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 in its Shanghai STAR Market IPO.
➤ IPO was priced at 𝟴.𝟲𝟲 𝘆𝘂𝗮𝗻 per share.
➤ Shares opened at 𝟰𝟵 𝘆𝘂𝗮𝗻 per share.
➤ Company held 𝟳.𝟲𝟳% of the global 𝗗𝗥𝗔𝗠 market in 𝟮𝟬𝟮𝟱.
➤ IPO proceeds will fund memory wafer production and 𝗥&𝗗 expansion.
➤ First-quarter operating profit reached 𝟯𝟱.𝟰𝟯 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 𝘆𝘂𝗮𝗻, versus a 𝟮.𝟴𝟯 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 𝘆𝘂𝗮𝗻 loss a year earlier.
➤ Apple is reportedly testing 𝗖𝗫𝗠𝗧 𝗗𝗥𝗔𝗠 for devices sold in China.
➤ Global DRAM market remains led by 𝗦𝗮𝗺𝘀𝘂𝗻𝗴, 𝗦𝗞 𝗛𝘆𝗻𝗶𝘅, and 𝗠𝗶𝗰𝗿𝗼𝗻.
👉 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀:
➤ Highlights China's push to build a globally competitive memory chip industry.
➤ A stronger CXMT could increase competition for Samsung, SK Hynix, and Micron.
➤ Apple's reported testing signals potential progress toward domestic chip sourcing in China.
➤ Strong IPO demand reflects continued investor confidence in AI-driven memory markets.
E
Equity researchJul 24 at 12:24 AM
Major news on CXMT & YMTC all at once.
1. CXMT plans expansion that may more than double monthly wafer output
2. CXMT inks five-year ByteDance supply agreement valued over $7 billion.
3. Trump administration split on additional limits for CXMT, YMTC
4. YMTC executives pushing internally for trillion-yuan IPO valuation target
5. CXMT, YMTC in some cases charge more for memory chips than Samsung, SK Hynix
6. Apple sought assurances CCXMT won't be added to U.S. entity list.
H
Hardik ShahJul 21 at 12:01 PM
📊 𝐈𝐍𝐕𝐄𝐒𝐓𝐎𝐑 𝐍𝐎𝐓𝐄: BofA Says Chinese AI Models Reinforce Bullish Memory Demand Outlook - $Micron Tech(MU.US) $SK Hynix(SKHY.US) $Sandisk(SNDK.US) $Seagate Tech(STX.US) $Western Digital(WDC.US)
👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:
➤ 𝗕𝗮𝗻𝗸 𝗼𝗳 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 reiterates 𝗕𝘂𝘆 on 𝗠𝗶𝗰𝗿𝗼𝗻.
➤ BofA maintains a $𝟭,𝟱𝟱𝟬 price target on Micron.
➤ Chinese open-source AI models reinforce long-term 𝗔𝗜 𝗺𝗲𝗺𝗼𝗿𝘆 demand.
➤ Kimi K3 API pricing is reportedly 𝟱–𝟯𝟱𝟬𝘅 lower than Western models.
➤ BofA says lower pricing reflects 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗺𝗼𝗱𝗲𝗹 choices, not hardware costs.
➤ Kimi K3 requires approximately 𝟭.𝟰 𝗧𝗕 of HBM per serving instance.
➤ BofA says larger AI models require the same or more 𝗺𝗲𝗺𝗼𝗿𝘆.
➤ BofA sees 𝗖𝗫𝗠𝗧 focused on commodity DRAM, not advanced HBM.
➤ Micron's CHIPS Act restrictions may expire around 𝗗𝗲𝗰𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟲.
➤ Expiration could enable $𝟱𝟬–$𝟲𝟬 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 in annual share repurchases.
👉 𝗘𝘅𝗽𝗲𝗿𝘁 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁:
𝗩𝗶𝘃𝗲𝗸 𝗔𝗿𝘆𝗮, Analyst at Bank of America:
"reflect[s] business-model choices, not necessarily reflective of hardware costs."
"require the same or more memory as their model weights and active parameters increase."
"'Open' refers to weight distribution, not deployment cost."
E
Equity researchJul 20 at 08:56 PM
BofA: US Semis
> Chinese Open LLMs Drive Memory Demand: Recent open-source and open-weight model releases from China (such as Moonshot AI’s Kimi K3) do not threaten memory demand; rather, they reinforce a bullish thesis for memory and Micron Technology (MU).
> API Pricing vs. Hardware Requirements: Aggressive Chinese API pricing (up to 5-350x cheaper than Western models) reflects business-model choices and market-share strategies rather than lower hardware costs. For example, Kimi K3 still requires roughly 1.4 TB of High Bandwidth Memory (HBM) per serving instance.
> Non-Hardware Cost Advantages: Chinese model providers achieve cost advantages through architectural efficiency (such as Mixture of Experts [MoE] sparsity, MLA/hybrid attention, and native quantization) and infrastructure efficiencies (lower local electricity, labor, and land costs, alongside potential state-linked subsidies).
> Open Models Expand Memory Sockets: Unlike closed models where millions of users share a single centralized HBM pool, open-weight models are downloaded and self-hosted across thousands of separate enterprise, cloud, and sovereign endpoints, multiplying global memory and storage sockets.
> Scaling Outpaces Compression: While compression techniques and active-parameter sparsity reduce compute intensity, total model parameter sizes continue to scale up drastically (e.g., Kimi K3 reaching 2.8 trillion parameters), driving continuous demand for multi-tier memory hierarchies (HBM, DRAM, and NAND).
> Micron Technology (MU) Outlook: BofA reiterates its Buy rating on Micron with a $1,550 price objective, citing limited competitive threat from China's CXMT (which focuses on underserved consumer DRAM rather than advanced HBM3E/HBM4) and upcoming catalysts like the expiration of CHIPS Act buyback restrictions in late 2026.
$Micron Tech(MU.US) $DRAM $EWY
+1
F
FaithAnchorRate Of ReturnJul 20 at 07:13 PM
$Micron Tech(MU.US)
Micron remains one of the strongest AI memory beneficiaries in 2026, backed by record profitability, expanding HBM shipments and robust free cash flow. In its latest quarter, Micron reported record business performance, generated over $18 billion in adjusted free cash flow, held approximately $30 billion in cash and investments, and guided for another record quarter, highlighting that AI demand remains exceptionally strong. (Micron Technology⁠)
However, investors should not ignore the emergence of ChangXin Memory Technologies (CXMT). Following its blockbuster Shanghai IPO, the world’s fourth-largest DRAM supplier is accelerating capacity expansion with an estimated 8% global DRAM market share. While U.S. export restrictions still limit its competitiveness in premium HBM products, increased production in commodity DRAM could pressure industry pricing and gradually erode Micron’s gross margins in consumer and PC memory segments. (marketwatch.com⁠)
For long-term investors, the investment thesis remains intact because Micron’s technological leadership in HBM3E and AI memory commands premium pricing. Nevertheless, recent buyers should expect higher volatility after the stock’s sharp rally. Option sellers may consider waiting for implied volatility to normalize before selling cash-secured puts, while existing shareholders should monitor whether support holds near key technical levels. If CXMT triggers a broader DRAM price war, Micron could experience multiple compression despite resilient AI-driven earnings. This article is for educational purposes only and is not financial advice.
Trade Showcase: Trade, Show & Earn Rewards!
E
Equity researchJul 20 at 06:51 PM
Highlights of an expert call from a Senior Director at ARM who was a Former Director at Western Digital regarding memory:
Unique Nature of the Current Memory Upcycle
> AI Data Center Expansion: Unlike past commodity-driven cycles (such as 2017–2018 or 2021–2022), this upcycle is uniquely propelled by sustained, multi-year AI data center buildouts from hyperscalers like Amazon, Microsoft, and Meta.
> Longer Cycle Duration: While past cycles typically flipped every 18 months, strong demand and constrained supply mean suppliers are already largely sold out through 2027, with market softening potentially expected around 2028 as new fabs come online.
Memory Bandwidth & Capacity Constraints (Training vs. Inference)
> Training Phase: Demand for HBM, LPDDR, and storage remains robust to support trillion-parameter models, though the baseline of model creation is becoming more established.
> Inference & The Agentic World: Inference is the primary revenue driver (exemplified by Micron's performance) and the "token economy". As multi-user agent systems scale, demand for faster token generation explodes, creating a "double whammy" of high demand for both GPU-attached HBM and CPU-orchestrated LPDDR bandwidth.
Supply Growth, Market Share, and Competitors
> Current Market Shares:
HBM Share: SK Hynix leads at approximately 58% to 60%, followed by Samsung and Micron at around 20% each.
DRAM Share: Samsung leads overall with roughly 40%, followed by SK Hynix (30%), Micron (20%), and others/China vendors (10%).
> Strategic Allocation: Vendors are balancing high-margin LPDDR capacity (driven by tight markets in smartphones and PCs) alongside HBM.
> The CXMT Threat: China's CXMT is expected to capture growing single-digit market share, primarily focusing on older nodes and LPDDR products for domestic data centers and smartphone brands (Xiaomi, vivo, OPPO).
Long-Term Supply Agreements (LTAs) & Pricing Outlook
> Shift in LTAs: Data center customers are pushing for 3-year or even 5-year LTAs to secure guaranteed supply, giving memory vendors stronger pricing power compared to historical 1-year agreements.
> Pricing Trajectory:
HBM/DRAM/NAND: Broad consensus expects prices to trend upward through 2026 and 2027 due to supply constraints.
HBM Pricing Trajectory: Blended average selling prices (ASPs) per stack are estimated around $330 to $360 for HBM3E in 2026, projected to rise to about $500 for HBM4 in 2027 as it gets introduced, and expected to soften slightly to around $450 for HBM4E in 2028 as supply catches up.
Company Optimism & Outlook
> SK Hynix: Highly praised for its market leadership in HBM, though integrating logic dies for future iterations poses a competitive frontier.
> Samsung: Viewed favorably due to an inherent margin and pricing advantage via its in-house logic foundry (Samsung Foundry), positioning it to potentially claw back some HBM share in the 2027–2028 timeframe.
> Micron: Expected to maintain its steady ~20% market share while benefiting strongly from current supply-constrained margins.
$Micron Tech(MU.US) $EWY $DRAM
F
FattycatCommunity StarBABA Diamond HolderJul 20 at 02:46 AM
Featured
📉 Memory & Storage Selloff: Sentiment, Not Fundamentals 😌
Memory and storage stocks fell 15–25% from early July peaks through 17 July driven by sentiment shifts and forced liquidations and not weaker industry fundamentals.
📉 How it unfolded
The selloff happened in four waves:
• Jul 1–2: Reports of Apple sourcing from Chinese makers + Meta capacity concerns triggered sharp drops
• Jul 7–8: Samsung’s record Q2 profit missed inflated expectations, spurring “sell the news” selling
• Jul 13: SK Hynix’s Q2 profit estimate came in 8% below consensus
• Jul 15–17: Position unwinding, Google’s memory compression tech, and CXMT IPO worries added pressure
Micron closed at $848.95 on Jul 17 (down ~25% from its peak), with a small recovery to $858.72 by Jul 20.
⚠️ Factors that amplified losses
• SK Hynix’s new ADR listing caused rotation and sustained foreign selling
• Leveraged ETFs magnified declines, while margin calls triggered further liquidation
• The sector had rallied over 200% YTD, making it a crowded trade vulnerable to de-risking
• Multiple overlapping narratives shook investor confidence, though none changed core fundamentals
✅ Fundamentals remain strong
• DRAM and NAND prices keep rising; supply is tight through 2026. The shortages likely to last into 2027–2028
• Samsung’s earnings were still a record; the “miss” was against overly high forecasts
• Analysts still rate Micron a Strong Buy, with price targets far above current levels; major banks keep bullish semiconductor outlooks
🔍 Key points to watch
• Stabilisation of SK Hynix ADR flows
• Actual changes to memory contract prices
• Capex guidance from major hyperscalers
• CXMT IPO developments and any new US export controls
📢 For clear visual, check out the full infographic below!
Not financial advice. Please do your own DD 😁.
P
pohycFrencken Return RateRate Of ReturnJul 14 at 11:03 PM
China's ChangXin Memory Technologies (CXMT) joining the IPO party. It's the world's 4th largest DRAM chipmaker with 7.7% market share. Well, if CEO of SK Hynix is spot on, memory shortages will persist beyond 2030 and they will all laugh their way to the bank.
C
Captain's Watch
☕️ [Task Coins Giveaway] Daily Market Talk — Cool CPI Lifts Chips, IBM Craters 25%
Inflation finally broke the market's way. June CPI cooled hard to 3.5%, the biggest monthly drop in six years, gutting July hike odds and sending chips flying. But it was a split tape: JPMorgan and Go...
N
NewUser_oPJWOUJul 14 at 07:45 AM
What a wild swing in Asia markets as majority opened lower this morning before reversing towards the end of the session. STI surprisingly managed to edge even higher despite being down 0.9% at the open, with local banks heading the swing. Even memory and chip stocks look to have rebounded pre market.
C
Captain's Watch
☕️ [Task Coins Giveaway] Daily Market Talk — Oil Surges Into CPI Night
The big week opened rough. Oil spiked as Trump reimposed a Hormuz blockade and floated a 20% transit fee, dragging chips and the Nasdaq lower. Now the real test arrives tonight: US June CPI lands at t...
C
CPNVIDIAEnduring value guardianJul 14 at 03:57 AM
Services inflation isn’t dead and the labor market hasn’t cracked. If CPI surprises to the upside, the Fed will hike to avoid losing credibility. Waller saying it out loud means other governors agree. I’m raising cash and hedging because the market is way too complacent.
C
Captain's Watch
☕️ [Task Coins Giveaway] Daily Market Talk — Oil Surges Into CPI Night
The big week opened rough. Oil spiked as Trump reimposed a Hormuz blockade and floated a 20% transit fee, dragging chips and the Nasdaq lower. Now the real test arrives tonight: US June CPI lands at t...
V
Victor yTraded ValueJul 14 at 03:33 AM
June CPI should still reflect the lower oil prices seen for most of the month, but the recent jump in crude could make July inflation more challenging. Tonight's bank earnings will also be important if loan demand and credit quality remain resilient, markets may look past short term inflation. I'll be watching CPI first, then how Treasury yields react before making any new positions.
C
Captain's Watch
☕️ [Task Coins Giveaway] Daily Market Talk — Oil Surges Into CPI Night
The big week opened rough. Oil spiked as Trump reimposed a Hormuz blockade and floated a 20% transit fee, dragging chips and the Nasdaq lower. Now the real test arrives tonight: US June CPI lands at t...
D
dingdongbellRate Of ReturnJul 14 at 02:46 AM
Looks like the market is past the SOH ding donging around. They should. It’s just noise and truth be told juvenile and unnecessary. CPI might act as the catalyst as well as earnings for the markets.
C
Captain's Watch
☕️ [Task Coins Giveaway] Daily Market Talk — Oil Surges Into CPI Night
The big week opened rough. Oil spiked as Trump reimposed a Hormuz blockade and floated a 20% transit fee, dragging chips and the Nasdaq lower. Now the real test arrives tonight: US June CPI lands at t...
H
Heroic LifesaverTotal AssetsRate Of ReturnJul 14 at 02:21 AM
The Fed needs to talk tough. They need the credibility especially when they have a new leader who needs to prove he is impartial and independent. That will allow them to cut rates, do QE or even yield curve control down the road. Especially if the necessary data allowing that filters in. It’s all part of the politics they play.
C
Captain's Watch
☕️ [Task Coins Giveaway] Daily Market Talk — Oil Surges Into CPI Night
The big week opened rough. Oil spiked as Trump reimposed a Hormuz blockade and floated a 20% transit fee, dragging chips and the Nasdaq lower. Now the real test arrives tonight: US June CPI lands at t...
F
FattycatCommunity StarBABA Diamond HolderJul 14 at 12:10 AM
Actually no one discuss about Sheng Siong new project announced yesterday. A S$520 million investment for a new distribution centre in Sungei Kadut.
Will this big spending affect its dividend payouts, even though the CEO assure the shareholders. If not how about the employees bonus over the next few years?🤔 The investment needs funding and cannot pluck from “sky”. Maybe no more “free food” at AGM 🤭.
C
Captain's Watch
☕️ [Task Coins Giveaway] Daily Market Talk — Oil Surges Into CPI Night
The big week opened rough. Oil spiked as Trump reimposed a Hormuz blockade and floated a 20% transit fee, dragging chips and the Nasdaq lower. Now the real test arrives tonight: US June CPI lands at t...
O
optionspuppyDisney Diamond HolderDisneyJul 13 at 10:55 PM
Featured
I’m not rushing to make a directional bet before CPI. Higher uncertainty usually means higher option premiums, so I’d rather focus on risk-defined strategies or cash-secured puts on quality assets at prices I’m happy to own. The CPI report should provide more clarity than a single hawkish comment. Patience and disciplined position sizing matter more than trying to predict one economic release.
C
Captain's Watch
☕️ [Task Coins Giveaway] Daily Market Talk — Oil Surges Into CPI Night
The big week opened rough. Oil spiked as Trump reimposed a Hormuz blockade and floated a 20% transit fee, dragging chips and the Nasdaq lower. Now the real test arrives tonight: US June CPI lands at t...
W
win winOrdersRate Of ReturnJul 13 at 10:26 PM
Trump issue a letter to congress, he mentioned Conflict of Iran is resume. What does it mean ? We are facing high inflation era again
C
Captain's Watch
☕️ [Task Coins Giveaway] Daily Market Talk — Oil Surges Into CPI Night
The big week opened rough. Oil spiked as Trump reimposed a Hormuz blockade and floated a 20% transit fee, dragging chips and the Nasdaq lower. Now the real test arrives tonight: US June CPI lands at t...
N
NewUser_CkrdqW Rate Of ReturnJul 13 at 10:23 PM
Oil spiked above $80/barrel as the war threat is back on. Bearish pressure looms with June CPI report coming out later as well. Now may be a good time to DCA into etfs or even look to start a position in a stock that you like at a more reasonable price following the pullback. However, I would still keep most of my cash ready for a further pullback when it comes later on.
C
Captain's Watch
☕️ [Task Coins Giveaway] Daily Market Talk — Oil Surges Into CPI Night
The big week opened rough. Oil spiked as Trump reimposed a Hormuz blockade and floated a 20% transit fee, dragging chips and the Nasdaq lower. Now the real test arrives tonight: US June CPI lands at t...
F
Fatcow ERate Of ReturnJul 13 at 10:13 PM
amidst thechaos in the Iran & gulf, with hormuz strait shipping lane limiting flows, there is just full of opportunity for market manipulation.. range bound prices of oil and high beta stocks are in play
C
Captain's Watch
☕️ [Task Coins Giveaway] Daily Market Talk — Oil Surges Into CPI Night
The big week opened rough. Oil spiked as Trump reimposed a Hormuz blockade and floated a 20% transit fee, dragging chips and the Nasdaq lower. Now the real test arrives tonight: US June CPI lands at t...