CXMT Says H1 Contract Liabilities Fell on Q2 Order Deliveries
CXMT, a Chinese memory chip maker, said its contract liabilities dropped sharply in the first half of 2026 from the first quarter because customer orders tied to Q1 contract liabilities were delivered and recognized as revenue in Q2. The company described the decline as normal channel turnover for the storage industry.
On September 7, CXMT held a business briefing for the first half of 2026. Senior executives explained the sequential decline in contract liabilities at the end of the reporting period: customer orders corresponding to first-quarter contract liabilities were delivered and recognized as revenue in the second quarter, causing the balance of contract liabilities in the first half to fall significantly from the first quarter. The company said this reflects the normal channel turnover pace of the storage industry.