🇨🇳 CXMT posts 1,688% profit surge in Q1 2026

China's top DRAM maker ChangXin Memory Technologies (CXMT) reported net profit growth of over 1,688% year-on-year in Q1 2026, with revenue rising more than 719%, driven by surging AI-related memory demand and a global DRAM supply crunch. The company is also planning a listing on Shanghai's STAR Market.

CXMT is China's primary domestic DRAM producer and a centerpiece of Beijing's semiconductor self-sufficiency drive. The results reflect both favorable market timing — rising memory prices globally — and accelerating domestic capacity buildout under state-backed chip localization policy.

A successful STAR Market IPO would give CXMT direct access to public capital, accelerating expansion at a moment when U.S. export controls continue to constrain Chinese access to advanced chip equipment.

#China

@asianomics

😔 Kostyantynivka is a ghost town

Houses destroyed to the foundation, burned civilian and military transport, complete ruin - this is the picture that appears every day before the pilots of the Phoenix border unit.

🇺🇦👀 The Defense Forces are actively testing heavy rotor multicopters designed for air evacuation of the wounded from the battlefield, — Kyriienko

In Perm, after a series of arrivals, additional air defense forces are being deployed.

☠️🎶💃 Destruction of Russian infantry attempting to land on an island in Dnipro River by UAV operators of the 34th Marine Brigade of the Ukrainian Navy.

The Russians were clearly carrying significant ammunition, which caused secondary detonations when Ukrainian drones struck.

Orthodox Russian priests drove through Perm with an icon of the Mother of God to pray for protection from drone attacks. The local diocese said the rite follows an old tradition of carrying holy objects around cities during external threats.

🤷‍♂️

In Perm, additional air defense forces are being mobilized after a series of arrivals…

Ukraine’s Navy said a Russian strike drone hit the KSL Deyang cargo ship near Odesa Oblast as it moved through Ukraine’s maritime corridor toward Greater Odesa ports. The Marshall Islands-flagged vessel belongs to China’s KSL and has a Chinese crew.