Physix Frontier · News Briefing Card (Leiphone · Oct 16, 2026)

CXMT Sheds 1.07T Yuan in Two Months, Loses Top A-Share Spot

KEY FACTS

ChangXin Technology closed at 43.59 yuan on October 15, with total market value falling below 3 trillion yuan.
ICBC replaced ChangXin Technology to reclaim the top spot by total market value on the A-share market.
From August 17 to October 14, ChangXin Technology's stock fell 25.57%, wiping out 1.07 trillion yuan in market value.
ChangXin Memory president Cao Kanyu said the company expects to launch a new-generation DDR5 RDIMM product based on a 4F² DRAM architecture by the end of the year.
On its July 27 listing debut, ChangXin Technology's intraday market value briefly surpassed ICBC.

KEY DATA

43.59 yuan/shareOctober 15 closing price

25.57%Stock decline from August 17 to October 14

1.07 trillion yuanMarket value lost over the same period

4.2 trillion yuanMarket value on August 17

PHYSIX OBSERVATION

ChangXin Technology peaked the moment it listed, and two months later it has shed more than a trillion yuan in market value, showing that capital markets have shifted their valuation of memory chips from concept-driven speculation back to fundamentals. Whether the year-end 4F² DRAM product delivers will determine whether it can hold the 3 trillion yuan line, and it sounds a warning for the valuation logic of domestic memory.

Source: Leiphone report