CXMT to report earnings on Friday amid 580% surge
CXMT, China's homegrown memory chipmaker, is about to drop its first-ever earnings report as a public company on Friday.
Since its July IPO, the stock has soared over 580%, making CXMT the most valuable company on China's stock market with a massive 3.3 trillion yuan valuation.
CXMT forecasts H1 revenue and profits
As the world's fourth-biggest DRAM maker, CXMT is central to China's push for tech independence.
The company expects first-half revenue of up to 120 billion yuan and profits as high as 57 billion yuan, more than double what it pulled in just the first quarter.
But with rivals like Yangtze Memory planning big moves and Yang Tingwu, a fund manager at Fujian Tongheng Investment, warning that "peak earnings" may be approaching, CXMT still has plenty to prove if it wants to keep this momentum going.