ChangXin Technology Posts 2026 Interim Net Profit of RMB77.6 Billion, Reversing Year-Earlier Loss

ChangXin Technology released its 2026 interim report after market close on August 28. The report shows that in the first half of 2026, the company achieved operating revenue of RMB150.31 billion, up 873.64% year on year; net profit attributable to shareholders of listed company was RMB77.61 billion, compared with a loss of RMB2.33 billion in the same period of 2025, turning from loss to profit; non-GAAP net profit was RMB78.79 billion, also turning from loss to profit; basic earnings per share was RMB1.2893, and weighted average return on equity was 81.06%. By quarter, second-quarter net profit was RMB52.84 billion, first-quarter net profit was RMB24.76 billion, and second-quarter net profit grew 113% quarter on quarter.

During the reporting period, net cash flow from operating activities reached RMB131.16 billion, up 2985.64% year on year; gross margin on main business was 84.84%. As of the end of the reporting period, total assets were RMB468.08 billion, up 38.98% from the end of 2025; net assets attributable to shareholders of listed company were RMB134.72 billion, up 137.38%. The company continued to increase R&D investment, with total R&D investment in the first half of RMB6.86 billion, up 87.38% year on year; R&D personnel reached 7,491, accounting for 33.42% of total employees. As of June 30, 2026, the company held 4,484 domestic patents, including 3,744 invention patents, and 3,400 overseas patents. The company's self-developed LPDDR6 chip has a peak data rate of 12,800 Mbps and a maximum capacity of 16GB, and has been sent to key customers for validation, with mass production being accelerated.

ChangXin Technology is China's largest, most technologically advanced, and most comprehensively laid-out DRAM R&D, design, and manufacturing integrated enterprise. Since its establishment in 2016, it has focused on the R&D, design, production, and sales of DRAM products. By shipment volume and sales revenue, the company has become China's largest and the world's fourth-largest DRAM manufacturer. The company has no controlling shareholder or actual controller, with a relatively dispersed shareholding structure. The significant performance growth was mainly due to the rapid growth of global computing power demand and capacity adjustments by major global manufacturers, leading to a supply shortage of global DRAM products and a substantial price increase, which drove a significant increase in gross profit from the company's main DRAM products.

The report also highlighted many challenges facing the company. The company pointed out that the development of artificial intelligence is one of the important factors driving this round of DRAM market conditions, and the future DRAM market demand it brings is uncertain; the company's customer concentration is relatively high; the DRAM industry has cyclical characteristics, and current product prices are at high levels, so the sustainability of continued substantial price increases is not guaranteed. In addition, the U. S. Department of Defense released a new list of "Chinese military companies" on June 8, 2026, and the company's subsidiary ChangXin Memory was included on the list. The company stated that this matter will not have a material adverse impact on daily production and operation activities or the ability to continue operations. Looking ahead to the second half of 2026, the company expects the global DRAM supply shortage to continue, and it will continue to monitor external impacts such as macroeconomic fluctuations and geopolitical situations, focusing on achieving annual performance growth targets, expanding new application scenarios, implementing key projects, and deepening industry-university-research integration. In the secondary market, the company's stock price has risen 576.67% cumulatively from its official listing on July 27, 2026, to August 28.