ChangXin Memory Technologies (CXMT), China's leading DRAM manufacturer, has successfully passed the Shanghai Stock Exchange's Sci-Tech Innovation Board review, paving the way for its IPO on the STAR Market. The company aims to raise RMB 29.5 billion, marking a significant milestone in its 10-year journey towards breaking foreign monopolies in the semiconductor memory industry. CXMT's approval process was expedited under the STAR Market's new pre-review mechanism, taking less than five months from application to approval. CXMT, which ranks fourth globally in the DRAM market, has achieved mass production of DDR5/LPDDR5X, though it still trails behind international leaders like Samsung and SK Hynix in certain technologies. The company reported a net profit of RMB 1.875 billion in 2025, with profits surging to RMB 24.762 billion in Q1 2026, driven by increased AI computing demand. CXMT's shareholder base includes major A-share companies and state-backed investors, with no controlling shareholder. Founder Zhu Yiming has committed to significant employee equity incentives and a long-term share lock-up, underscoring confidence in CXMT's future growth.