CXMT Corporation stock: Company proposes CNY 180.00 billion in excess-IPO investments

CXMT Corporation proposed using CNY 180.00 billion in excess IPO proceeds for research and DRAM testing projects. The board approved the plan, which still requires shareholder approval.

CXMT Corporation proposed using CNY 180.00 billion in excess IPO proceeds for two projects, according to a September 29 disclosure published by Shanghai Securities Journal. The company approved the proposal at a board meeting on September 28, 2026, and the plan remains subject to shareholder approval.

Research and testing projects

CXMT plans to invest CNY 130.00 billion of excess IPO proceeds in a technology research project. The project has a total investment of CNY 241.00 billion and a planned construction period of 30 months, the disclosure said.

CXMT also plans to provide CNY 50.00 billion to its wholly owned subsidiary, CXMT Storage Products (Hefei) Co., Ltd., through capital contributions and loans. The subsidiary would use the funds for a second-phase memory-wafer backend testing base with total investment of CNY 108.00 billion and a planned construction period of 37 months. The facility is intended to test DRAM chips and assemble memory modules.

The disclosure said the projects are intended to support technology and product upgrades, increase backend testing capacity, lower testing costs and further integrate CXMT's manufacturing and testing operations.