CXMT and Co. Why China's Car Manufacturers Are Investing in Chipmakers
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CXMT has replaced Tencent as the most valuable company in China. Behind the memory chip manufacturer are Nio, BYD, and Chery as investors—driven by fears of supply bottlenecks and price increases.
A manufacturer of memory chips has overtaken Tencent as the most valuable publicly traded company in China. CXMT (ChangXin Memory Technologies) from Hefei reached a market value of over 3.5 trillion yuan (approximately 430 billion euros / approx. 480 billion USD) at the close of trading on August 13, surpassing the internet giant from Shenzhen for the first time, reported the business magazine 21 Shiji Jingji Baodao. Less than three weeks earlier, CXMT had only just gone public.
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