On May 21, 2026, the official announcement of the Shanghai Stock Exchange showed that CXMT, a leading domestic DRAM enterprise, will undergo the review of its initial public offering (IPO) application on the STAR Market on May 27, marking that its IPO process has entered a critical stage. According to the prospectus, benefiting from the high operation of global memory chip prices and the accelerated process of domestic substitution, CXMT is expected to achieve a net profit attributable to the parent company of more than 50 billion yuan in the first half of 2026, a year-on-year increase of over 80%. As one of the few domestic enterprises that can realize large-scale mass production of DRAM chips, CXMT has broken the monopoly of overseas enterprises in this field. If the hearing can be successfully passed this time, it will become a benchmark enterprise in the domestic DRAM industry listed on the STAR Market. DRAM chips are core components widely used in electronic products such as smartphones, computers, and data centers. For a long time, the global DRAM market has been dominated by foreign enterprises such as Samsung, SK Hynix, and Micron. The emergence of CXMT has filled the gap in the domestic DRAM industry and accelerated the process of domestic substitution of memory chips. Industry analysts pointed out that the tight global memory chip supply and the strong demand driven by the AI industry will continue to support the high price of DRAM chips, which will provide a strong guarantee for CXMT’s profitability. The listing of CXMT will not only help it obtain more capital support to expand production capacity and enhance R&D capabilities but also drive the development of upstream and downstream enterprises in the domestic semiconductor industry chain, improving the overall competitiveness of the industry. In addition, the listing of CXMT also reflects the strong support of the capital market for high-tech manufacturing enterprises, which is of great significance for promoting the development of China’s semiconductor industry and realizing technological self-reliance.