ChangXin Technology Tops RMB 4 Trillion, Overtakes Tencent as China's Most Valuable Listed Company
ChangXin Technology's market value surpassed RMB 4 trillion on August 17, overtaking Tencent Holdings to become China's most valuable listed company, just over ten trading days after its STAR Market debut on July 27. The DRAM maker posted first-quarter revenue of RMB 50.8 billion, up 719% year on year, and net profit attributable to shareholders of RMB 24.762 billion, up 1,688%. The company forecasts first-half net profit of RMB 50-57 billion, more than 22 times higher year on year. ChangXin holds over 7% of the global DRAM market, ranking fourth worldwide and first in China.
On August 17, ChangXin Technology's share price hit a fresh high, lifting its total market value above RMB 4 trillion and overtaking Tencent Holdings to become the most valuable listed company in China. The company made its debut on the STAR Market on July 27, taking only about ten trading days to climb from listing to the top of the domestic market value rankings.
In the first quarter of 2026, ChangXin Technology generated revenue of RMB 50.8 billion, up 719% year on year, with net profit attributable to shareholders of RMB 24.762 billion, up 1,688%. The company estimates that first-half net profit attributable to shareholders will reach RMB 50 billion to RMB 57 billion, an increase of more than 22 times year on year. In the DRAM (dynamic random access memory) segment, ChangXin Technology ranks fourth globally and first in China with a market share exceeding 7%.
Since its early days, ChangXin Technology has faced multiple challenges, including high technical barriers, patent restrictions, and cyclical swings in the semiconductor industry. After years of sustained investment, the company has achieved large-scale DRAM production, filling a critical gap in the domestic supply chain. Samsung, SK Hynix, and Micron currently hold a combined global DRAM market share of more than 90%, and the competitive landscape remains dominated by these players.