{
  "id": 15516026,
  "title": "CXMT forecasts up to US$19.8 billion in 3 quarters’ net income; pledges share buy-back",
  "url": "https://urgent.news/2026/10/18/cxmt-forecasts-up-to-us-19-8-billion-in-3-quarters-net-income-pledges",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-10-18T23:30:08.000Z",
  "source": {
    "name": "SCMP Tech",
    "slug": "scmp-tech",
    "url": "https://www.scmp.com/tech/big-tech/article/3371314/cxmt-forecasts-us198-billion-3-quarters-net-income-pledges-share-buy-back"
  },
  "original_language": "en",
  "account": "Chinese memory chip firm ChangXin Memory Technologies (CXMT) anticipates a net income of up to US$19.8 billion for the first nine months of 2026, a stark contrast to a loss in the same period last year. The company's growth is attributed to the increasing demand for artificial intelligence-driven applications, as it competes with global giants such as Samsung Electronics and SK Hynix. CXMT's chairman, Zhu Yiming, plans to repurchase 1 billion yuan to 2 billion yuan worth of shares within 12 months, pending board or shareholder approval, with the funds allocated towards employee incentives or reducing registered capital. Preliminary net income for January to September is expected to fall between 131 billion yuan and 132.5 billion yuan, compared to a net loss of 5.3 billion yuan in the same period last year. Revenue is projected to reach 265 billion yuan to 270 billion yuan, a 742% increase from 32 billion yuan at the same time last year. This implies a third-quarter net income of 53.4 billion yuan to 54.9 billion yuan, following a net income of 77.6 billion yuan in the first half of 2026. The company's earnings surged due to the surging demand for AI computing power, resulting in a global DRAM supply shortage and escalating prices. CXMT has been steadily expanding its capacity, investing in product research and development, and improving process technology, leading to higher per-wafer output and better capacity utilization. The company's new server-memory product incorporating a \"4F square\" design, aimed at boosting memory density, will be launched by the end of the year, posing a challenge to global competitors. Despite the industry-wide market rout affecting global memory suppliers, including Samsung Electronics, SK Hynix, Micron Technology, SanDisk, Kioxia, and CXMT, Goldman Sachs analysts believe that the recent share price corrections might have underestimated China's potential for capacity ramp-up and technology breakthroughs.",
  "summary": "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…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}