ChangXin Technology posts RMB 54.4B Q3 profit as AI memory demand lifts results

On October 30, 2026, Bloomberg Technology reported that CXMT Corp. posted a sevenfold surge in quarterly revenue and swung from a loss to a profit, while also noting that the pace of acceleration had slowed and that an AI-fueled rally in Chinese memory chip prices may be losing steam.

Four minutes later, Wallstreetcn.cn filled in the figures. In Q3 2026, CXMT reported revenue of CNY 118.714 billion, up 613.18% year over year and 19.30% quarter over quarter, with net profit attributable to shareholders of CNY 54.435 billion, turning profitable from a loss a year earlier and up 3.01% quarter over quarter. For the first nine months of 2026, cumulative revenue reached CNY 269.024 billion, a 738.51% increase, with net profit of CNY 132.040 billion. The company attributed the surge to global AI compute demand driving DRAM volume and price gains alongside structural supply shortages, while gross margin hit 89.53%, up 1.94 percentage points from the prior quarter. It also announced a proposed share buyback of CNY 1 billion to CNY 2 billion, with a price cap of CNY 72.69 per share, intended for equity incentives and cancellation. The two reports differ on whether the AI-driven memory upcycle remains strong or is cooling, and the story currently stands at the earnings release and buyback proposal stage.