ChangXin Memory Technologies (CXMT) reported RMB 118.71 billion in revenue for the third quarter of 2026, up 613.18% from a year earlier. Profit attributable to CXMT shareholders was RMB 54.43 billion. The quarter ended September 30, and CXMT reported the results on October 30.
Revenue climbed, while profit measures moved at different rates
Revenue increased 19.30% from the second quarter. CXMT’s gross margin was 89.53%, up 1.94 percentage points from Q2.
The profit figures tell different parts of the story. Consolidated net income covers earnings across the group’s subsidiaries; profit attributable to shareholders is the portion assigned to CXMT’s shareholders. Their quarter-over-quarter growth rates differed substantially:
| Profit measure | Q3 2026 | Change from Q2 2026 | Scope |
| Consolidated net income | RMB 88.98 billion | +19.38% | Earnings across the consolidated group |
| Net income attributable to CXMT shareholders | RMB 54.43 billion | +3.01% | Earnings assigned to shareholders of CXMT |
The RMB 34.55 billion difference between those figures was attributable to minority shareholders in subsidiaries. That distinction helps explain why consolidated profit grew faster than the amount assigned to CXMT shareholders. The reported figures do not explain why the split changed from the previous quarter.
Nine-month results landed within CXMT’s ranges
For the first nine months of 2026, revenue totaled RMB 269.02 billion, and profit attributable to shareholders was RMB 132.04 billion. Both figures fell within CXMT’s earlier ranges: RMB 265 billion to RMB 270 billion for revenue and RMB 131 billion to RMB 132.5 billion for attributable profit.
Memory supply and pricing shaped the results
CXMT attributed revenue growth to global computing demand, constrained DRAM supply, its own capacity expansion and a shift in product mix. The company also cited higher sales volumes and selling prices. It attributed improved profitability to higher prices and lower unit costs as production scaled.
That account describes CXMT’s sales amid tight supply and higher memory prices. Morningstar analyst Jing Jie Yu pointed to sluggish consumer-electronics demand as a possible future constraint on CXMT’s pricing power.
The earnings also sit alongside developments in memory technology. NeoTeo previously covered Micron’s EIM direction and CXMT’s reported DRAM advances.
