TNW | Asia
China’s CXMT swings to a nearly $20B profit as memory prices soar
Revenue rose more than eightfold to as much as 270B yuan in the first nine months, the chipmaker said.
Via TNW | Asia
·Excerpt
Credit: CXMT
Chinese memory chipmaker CXMT expects a net profit of 131B to 132.5B yuan ($19.6B to $19.8B) for January to September, compared with a 5.3B yuan loss a year earlier. Revenue jumped to 265B to 270B yuan as AI demand caused memory shortages. Its chairman also proposed a share buyback of up to 2B yuan.
Chinese memory chipmaker CXMT expects to report a net profit of 131B to 132.5B yuan ($19.6B to $19.8B) for the first nine months of…
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