CXMT posts RMB 132 billion profit and announces buyback

On October 30, ChangXin Technology (688825.SH) disclosed its 2026 third-quarter report, showing revenue of 2690.24 billion CNY in the first three quarters, a year-on-year increase of 738.51%; net profit attributable to shareholders was 1320.40 billion CNY, turning losses into profits year-on-year; operating cash flow reached 2547.51 billion CNY, up 1864.52%. On the same day, the company released the announcement on the plan to buy back shares through centralized bidding. It intends to repurchase shares worth 10 billion to 20 billion CNY. Notably, unlike the earlier proposal by Chairman Zhu Yiming, which stated that the shares would be used for employee equity incentives or employee stock ownership plans or to reduce registered capital, the plan announced on October 30 explicitly requires that no less than 50% of the total repurchased shares be cancelled to reduce registered capital. On October 22, the China Business Journal published an article titled ‘Net Profit of 1300 Billion Yuan in the First Three Quarters, Proposing to Buy Back 10 to 20 Billion Yuan of Shares: Is ChangXin Technology Just Token Defending the Stock Price?

’ The article quoted professionals noting that different uses of repurchased shares yield different effects, and only cancellation for reducing registered capital directly boosts earnings per share. Regarding the October 30 plan’s clarity that the cancellation ratio must be at least 50%, professionals commented that this represents a more positive change for protecting existing shareholders’ interests and shifts the buyback from mere market confidence signaling to a clear shareholder-return orientation. At present, ChangXin Technology has released the Q3 report and buyback plan, and the market has offered initial assessments of the adjustment in buyback purpose, with further developments pending observation.