Chinese memory chip giant ChangXin Memory Technologies (CXMT) forecast a net income of up to US$19.8 billion for the first nine months of 2026, marking a dramatic swing from a loss a year ago, as the domestic champion cashed in on artificial intelligence-driven demand while aggressively challenging global rivals including Samsung Electronics and SK Hynix.
Meanwhile, Zhu Yiming, chairman of the Hefei-based memory giant, proposed to buy back 1 billion (US$149.56 million) to 2 billion yuan of shares over 12 months, pending board or shareholder approval, to fund employee incentive plans or reduce registered capital.
CXMT projected the preliminary net income to range between 131 billion yuan and 132.5 billion yuan from January to September, compared with a net loss of 5.3 billion yuan in the same period last year, according to a stock exchange disclosure on Friday.
Its revenue in the period was expected to reach 265 billion to 270 billion yuan, marking a 742 per cent surge compared with the 32 billion yuan at the same time last year.
