CXMT (688825) H1 2026 earnings summary

Executive summary

• Achieved revenue of RMB 150.31 billion in H1 2026, up 873.64% year-over-year, driven by global DRAM supply shortages and price surges.

• Net profit attributable to shareholders reached RMB 77.61 billion, reversing a loss in the prior year.

• Operating cash flow was RMB 131.16 billion, reflecting strong sales and cash collection.

• Company is now the largest DRAM manufacturer in China and fourth globally by shipment and sales.

Financial highlights

• Revenue: RMB 150.31 billion, up 873.64% year-over-year.

• Net profit: RMB 77.61 billion, compared to a loss of RMB 2.33 billion last year.

• Gross margin: 84.84% at period end.

• Basic and diluted EPS: RMB 1.2893, up from -0.0412.

• Operating cash flow: RMB 131.16 billion, up from RMB 4.25 billion.

• R&D investment: RMB 6.86 billion, up 87.38% year-over-year.

Outlook and guidance

• DRAM supply shortage and price uptrend expected to persist in H2 2026.

• Company targets further revenue growth, new application expansion, and deeper industry-academia integration.

• Focus on operational efficiency, product upgrades, and strengthening market influence.