WSJ Tech News Briefing · Monday, July 27, 2026
Memory chip maker CXMT experienced a remarkable stock market debut, becoming mainland China's most valuable listed company with a valuation of $48.4 billion. The company's shares surged over 400% on their first day of trading in Shanghai, nearing the market value of Hong Kong-listed Tencent. CXMT is positioned as China's key player in the memory chip sector, competing with established giants like SK Hynix, Samsung, and Micron Technology.
“Memory chip maker CXMT soared in its stock market debut to become the most valuable company listed mainland China.”
“The company's shares jumped more than 400% to reach a valuation of $48.4 billion after its first day of trading in Shanghai.”
“Its market value was just short of China-based internet company Tencent, which is listed in Hong Kong and is the most valuable company in that market.”