One of the biggest champions of China’s drive for technological self-sufficiency is about to hit the market. ChangXin Memory Technologies (CXMT), a semiconductor maker founded a decade ago, will debut on July 27 on Shanghai’s tech-focused STAR Market having raised $8.5 billion in its initial public offering.
Though the company did not turn a profit until last year, it is benefitting from a global chip shortage: CXMT’s operating revenue grew by over 700 percent in the first quarter of this year compared to the same period last year, according to the company’s prospectus. Despite the fact that the U.S. Defense Department added CXMT to the list of Chinese Military Companies Operating in the U.S. in January last year, the chip shortage is leading American tech firms to look twice at their options for purchasing CXMT chips.
In this week’s Company in the News feature, The Wire China looks at CXMT’s network and leadership.
Click below to download the PDF.
Savannah Billman is a Staff Writer for The Wire China based in NYC. She previously worked at the National Committee on U.S.-China Relations.
