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CXMT Shares Jump 12% in Shanghai as Chinese Memory Chipmaker’s Blockbuster Rally Continues to Climb Higher

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Wix Stock Jumps Nearly 10% as Battered Shares Rebound Ahead

SHANGHAI — Shares of ChangXin Memory Technologies, known as CXMT, jumped 12%, or 6.62 yuan, to 61.80 yuan as of 3:00 p.m. local time Monday, extending an extraordinary rally that has continued largely uninterrupted since the Chinese memory chipmaker’s blockbuster debut on the Shanghai Stock Exchange’s tech-focused STAR Market three weeks ago.

CXMT’s stock has surged dramatically since it began trading on July 27, when shares soared as much as 466% to 500% on their first day of trading alone, instantly making the Hefei-based company the most valuable listed entity on any mainland Chinese exchange. The company’s shares closed that opening session at 49 yuan, giving CXMT a market capitalization of roughly 3.3 trillion yuan, or approximately $487 billion at the time, a figure that vaulted the company past state-owned Industrial and Commercial Bank of China as China’s most valuable listed company.

The rally has continued in the weeks since, with shares climbing further to close at 57.60 yuan the following Friday, pushing the company’s market capitalization to roughly 3.54 trillion yuan, or about $523 billion, according to figures reported at the time. Monday’s additional 12% gain to 61.80 yuan pushes the stock further into record territory, underscoring the sustained investor enthusiasm surrounding the company since its listing.

CXMT’s initial public offering itself was a landmark event for Chinese capital markets. The company raised 57.92 billion yuan, or roughly $8.6 billion, by pricing its shares at 8.66 yuan each, making it the largest IPO in Asia so far this year and mainland China’s second-largest public offering on record, trailing only the $22.1 billion combined Shanghai and Hong Kong listing of Agricultural Bank of China in 2010.

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Founded in 2016 in the eastern Chinese city of Hefei with state backing, CXMT specializes in designing, manufacturing and selling dynamic random-access memory, or DRAM, chips, a category of semiconductor widely used in servers, personal computers, mobile devices and smart vehicles. The company’s major clients include Alibaba Group’s cloud computing division, Alibaba Cloud, along with ByteDance, Tencent Holdings, Lenovo, Xiaomi and several major smartphone manufacturers including Honor, Oppo and Vivo.

According to figures disclosed in the company’s IPO prospectus, CXMT held approximately 7.67% of the global DRAM market based on fourth-quarter 2025 sales data, a share that has continued growing as the company has expanded production. By comparison, the global DRAM market remains dominated by three much larger established players: South Korea’s Samsung Electronics, which the company’s prospectus placed at roughly 36% global market share, SK Hynix at approximately 29%, and U.S.-based Micron Technology at around 24%.

CXMT’s dramatic financial turnaround has helped fuel investor enthusiasm surrounding the stock. The company swung to an operating profit of 35.43 billion yuan in the first quarter, reversing a loss of 2.83 billion yuan during the same period a year earlier, a shift the company has attributed to continued growth in global computing demand tied to artificial intelligence and increased capacity allocation from major device manufacturers seeking memory chip supply.

CXMT’s rise has taken on particular significance given the broader geopolitical backdrop shaping China’s semiconductor industry. The company has emerged as a central symbol of Beijing’s broader push toward technological self-sufficiency, particularly in advanced chipmaking, as China continues to contend with U.S.-led export restrictions limiting its access to cutting-edge chipmaking equipment and technology. The company is also investing heavily in high-bandwidth memory, or HBM, a specialized and more advanced form of DRAM critical for the kind of advanced processors used in AI applications, including graphics processing units made by Nvidia. CXMT has said it aims to begin production at a dedicated HBM back-end packaging facility in Shanghai by the end of 2026.

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Adding further to investor interest surrounding the stock, reports emerged earlier this summer that Apple had begun testing CXMT’s DRAM chips for potential use in devices sold within China, a development that, if it results in a formal supply relationship, could mark a significant commercial validation of the Chinese chipmaker’s technology by one of the world’s largest device manufacturers.

Despite its meteoric post-IPO rise, CXMT’s market capitalization, while enormous by Chinese standards, remains smaller than those of its more established South Korean and American rivals. Samsung Electronics and SK Hynix continue to carry substantially larger valuations reflecting their more mature and diversified chip businesses, and analysts have noted that CXMT still trails those companies by several years in terms of advanced manufacturing capability, particularly for next-generation HBM chips. SK Hynix, for instance, has said it expects to begin large-scale production of its next-generation HBM4 chips by the end of this year, a timeline analysts expect CXMT’s own advanced memory production to lag behind.

Market analysts remain divided over whether CXMT’s extraordinary valuation reflects a sustainable, long-term shift in global memory chip supply chains toward greater Chinese participation, or a shorter-term surge driven primarily by AI-related memory shortages and limited available trading float in the stock’s early weeks on the market. One market strategist noted that a roughly 470% first-day gain, while not entirely without precedent among smaller Chinese listings, was particularly notable given CXMT’s substantial size, suggesting that a combination of limited free float and pent-up market sentiment played a significant role in driving the stock’s initial surge.

Morningstar has separately noted that the broader strategic significance of AI-related semiconductor self-sufficiency for China’s national security priorities has likely contributed to sustained investor demand for CXMT shares beyond what might be explained by the company’s current financial fundamentals alone, reflecting the broader political and economic weight Beijing has placed on developing homegrown alternatives to foreign-dominated segments of the global chip supply chain.

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As CXMT’s rally continues into its fourth week of trading, the stock’s performance is likely to remain closely watched both as a barometer of investor sentiment toward China’s broader semiconductor self-sufficiency push and as a test case for how sustainably newly listed Chinese technology companies can maintain extraordinary post-IPO valuations once the initial wave of listing-driven enthusiasm begins to settle into more conventional trading patterns.

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QXO: Cheaper, But The Per-Share Drag Just Moved From Valuation To Earnings (NYSE:QXO)

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This article was written by

I am a stock analyst with over 20 years of experience in quantitative research, financial modeling, and risk management. My focus is on equity valuation, market trends, and portfolio optimization to uncover high-growth investment opportunities. As a former Vice President at Barclays, I led teams in model validation, stress testing, and regulatory finance, developing a deep expertise in both fundamental and technical analysis. Alongside my research partner (also my wife), I co-author investment research, combining our complementary strengths to deliver high-quality, data-driven insights. Our approach blends rigorous risk management with a long-term perspective on value creation. We have a particular interest in macroeconomic trends, corporate earnings, and financial statement analysis, aiming to provide actionable ideas for investors seeking to outperform the market.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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What Makes a Job Portal Work Well? Key Features to Know

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The UK private sector is experiencing its lowest employment levels in a decade, as hiring decisions are clouded by uncertainty surrounding economic prospects amidst high interest rates and sluggish consumer demand.

Building a job portal today means more than just posting job listings and adding an application form. Recruiters want tools to manage candidates, and job seekers look for quick searches, helpful recommendations, easy applications, and a smooth mobile experience.

If you are planning a recruitment platform, the main question is not just what features to add. Instead, focus on which features will actually help each type of user.

Choose the right type of recruitment platform

A general job board connects employers with candidates from many industries, while a niche portal focuses on a specific area, like healthcare, technology, or construction. Recruitment agencies may also need a multi-client platform where recruiters manage candidates and vacancies for several employers.

You can also build an internal recruitment portal for a company, a freelance marketplace, or a platform that combines job listings with applicant tracking.

It’s important because the type of platform you choose affects user roles, workflows, data structure, payment options, and search features. Deciding on these early can help you avoid costly changes later.

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Give employers and candidates separate dashboards

Employers and candidates have different needs, so they should each have their own interface.

An employer dashboard might include job creation and editing, applicant tracking, candidate profiles, interview scheduling, hiring analytics, etc.

A candidate dashboard should focus on profile and resume management, saved jobs, application history, job alerts, and communication with recruiters.

For recruitment agencies, you may also need an admin dashboard with client accounts, recruiter permissions, candidate pools, job assignments, and activity logs.

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More than simple file storage for resume management

Candidates should be able to upload resumes in common formats and keep their profiles updated without having to enter the same details over and over.

A strong resume module can parse uploaded documents and extract details such as name and contact information, employment history, skills, education, certifications, and job titles.

This process turns an unstructured document into searchable candidate data.

Use AI-enabled candidate matching with care

AI tools can help recruiters compare job requirements with candidate profiles and rank potentially relevant applicants. A more advanced system can look at skills, experience, location, salary expectations, qualifications, and related terms.

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The scoring system should be easy to understand. Recruiters need to know why a candidate got a high match score, rather than just accepting the score without question.

Build search and filtering around real recruiter needs

Search is one of the features recruiters use most often on a recruitment platform.

Basic filters like job title and location are helpful, but recruiters usually need more options like skills, education, salary range, language, years of experience, employment type, and so on.

For large candidate databases, semantic search can work alongside traditional keyword search. This helps recruiters find good matches even if candidates and job descriptions use different words.

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Consider the search experience from the recruiter’s point of view. If it takes 30 minutes to find 20 good candidates, the platform is still causing too much manual work.

Support payments and different business models

If employers pay to post jobs, candidates pay for premium features, or recruiters buy subscriptions, payment features become a core part of your product.

Depending on your model, you may need one-time job posting payments, recurring subscriptions, featured job listings, coupons, invoices, etc.

You should also keep payment features separate from the rest of the application. This makes it easier to adjust pricing or switch payment providers in the future.

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Treat mobile as a primary experience

Many candidates search for jobs on their phones. If your platform only works well on desktop, it can make the hiring process harder right from the start.

The mobile experience should make it simple to search, filter, save, and apply for jobs. Resume uploads should be smooth, and forms should only ask for what is needed.

Recruiters also need to use the platform on mobile. They might want to review applicants, reply to messages, or move candidates through hiring stages while away from their desk.

You do not have to build separate native apps right away. A responsive web platform can be a good starting point, depending on your product and users.

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Plan for growth, security, and integrations

A small job board may start with a few hundred listings and candidates, but a successful platform can eventually handle millions of records, automated notifications, and many users simultaneously. Your technical setup should be ready to handle that kind of growth.

Security is also very important because recruitment platforms store resumes, contact details, work histories, and other sensitive data. Access controls, encryption, secure logins, audit logs, backups, and good data retention policies should all be part of your initial setup.

You should also plan to connect with tools like CRMs, applicant tracking systems, calendars, email services, payment providers, and identity platforms.

Security and resilience should cover the application, infrastructure, data, and any AI services connected to the system.

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When is it time to work with a development company?

A simple niche job board may be possible with an existing platform or low-code tools.

Things get more complex when you need custom workflows, multiple user roles, AI matching, advanced search, payments, third-party integrations, or a large candidate database.

At that stage, a specialized job portal development company can help you plan the technical setup, choose the right technologies, and build the platform to fit your recruitment needs.

The key is to bring developers in early, so they can question assumptions before they turn into costly technical decisions.

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Before you start development, figure out who will use the portal, what each user needs to do, how payments will work, and what data the system needs to handle. Then decide which features should be in the first release and which ones can come later.

This approach gives you a much clearer path from a job portal idea to a product people will actually use.

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Chinese robotics giant Unitree soars in stock market debut

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A Unitree G1 humanoid robot is on display at a convention in Beijing.

Founded in 2016, Unitree has become a robotics industry leader, selling a wide range of devices from sensors and automated arms to four-legged and human-like machines.

For several years, it has been a fierce rival to developers in the US as it rolled out robots with similar features but at lower prices.

The company – which plays a key role in Beijing’s ambitions to be a global leader in cutting-edge technologies – is based in Hangzhou, in eastern China.

The region is home to a so-called golden cluster zone of robotics firms, which have been boosted by huge government investments.

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That support helped drive a more than threefold increase in the number of Chinese robotics firms between 2020 and 2024, according to state-run China Daily.

Robots are also seen as a potential solution to challenges posed by China’s ageing population, which is expected to lead to a shortage of workers to support the economy’s physically demanding manufacturing base, according to Fei Qin, an associate professor at the University of Bath.

Beijing considers the robotics sector a “strategic priority” in its pursuit of leadership in advanced technology, she said.

“Robots are where AI leaves the screen and enters the economy” in factories, hospitals and, potentially, the home, Qin added.

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SoundHound: Agentic Platform And Healthcare Wins Are Driving A Rebound

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SoundHound: Agentic Platform And Healthcare Wins Are Driving A Rebound

SoundHound: Agentic Platform And Healthcare Wins Are Driving A Rebound

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3 Ways to Protect Your Retirement Savings Ahead of the Stock Market’s Most Volatile Months

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3 Ways to Protect Your Retirement Savings Ahead of the Stock Market’s Most Volatile Months

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Rabobank finds strong case for WA canola crushing industry

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Rabobank finds strong case for WA canola crushing industry

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Can Gaja Alternative Asset Management IPO deliver long-term growth for high-risk investors?

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Can Gaja Alternative Asset Management IPO deliver long-term growth for high-risk investors?
ET Intelligence Group: Gaja Alternative Asset Management, which manages and advises India-focused investment funds, plans to raise ₹450 crore through a fresh issue to fund its investments in existing and new funds and repay loan. Additionally, it will raise ₹100 crore through an offer for sale. The promoter stake will fall to 54% after the IPO, from 71% currently. The company has generated an average multiple on invested capital (MOIC) of 3.3 times across prior investments and funds, implying strong investment returns. However, its earnings are dependent on fund performance and its business is exposed to regulatory changes. Given these factors, the issue appears to be suitable for long-term investors with a higher risk tolerance.

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Incorporated in 1999, the company invests in sectors including education, energy and environment, financial services, consumer and digital technology. Its investment approach is focused on the mid-market segment, comprising deal size of ₹50-250 crore. The Limited Partners (or investors) of Gaja Capital funds are spread across 20 countries including India, the US, Europe and the Middle East. It derives income from management fee, carried interest, which refers to share of profits from successful investments, and income from sponsor commitment. Income from sponsor commitments represents gains on the company’s own capital invested in the funds. As of March 31, 2026, it has committed about ₹274 crore, or 6.4% of the total size of the Gaja Capital Funds. The carried interest accounted for nearly 48% of total income in FY26. Any weak investment performance will affect the carried interest and sponsor related income. According to Crisil, the assets under management for alternative investments in India are expected to grow at 25-27% to reach ₹41 lakh crore-44 lakh crore by March 2030.

Returns speak a lot for Gaja as funding stays a risky betET Bureau

The firm’s past success and a fast-growing market provide comfort while the nature of its revenue mix calls for a measured approach

Financials

Revenue increased to ₹158 crore in FY26 from ₹104 crore in FY24. Net profit grew to ₹82 crore in FY26 from ₹45 crore in FY24. Net margin rose to 52% from 43% during the period, reflecting operating leverage as cost-to-income ratio fell to 44.6% in FY26 from 52.3% in FY25. Across its three funds, MOIC has ranged from 1.7 times to 3.8 times. MOIC shows how much an investment has grown compared with the amount originally invested. The return on equity increased to 16.5% in FY26 from 14.5% in FY24.Read more: Anthropic pre-IPO credit facility set to climb past $10 billion

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Valuation

As the first standalone private equity firm to list on the exchanges, Gaja Alternative Asset Management has no direct listed peers. The IPO is priced at a P/E multiple of 27.5 times, compared with P/E multiples of around 25-40 times for listed asset management companies (AMCs).

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Milky Mist Dairy Foods lists at 18% premium to issue price

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Milky Mist Dairy Foods lists at 18% premium to issue price
Mumbai Milky Mist Dairy Food was listed on the NSE at ₹165 on Tuesday, a 17.9% premium to its issue price of ₹140. The stock ended at the day’s high of ₹181.5. The company’s market capitalisation was at ₹13,972.66 crore at close.

Read more: Augmont Enterprises IPO: Rs 825 crore issue price band set at Rs 750-788

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Mobile payments on the rise but cash decline slows

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Woman sitting in a cafe with a coffee cup on the table in front of her puts her phone on a payment terminal held by a waitress.

The UK Payments Market report, released once a year, shows that debit cards – included those loaded onto phones – were the predominant way to pay last year.

They accounted for 54% of all payments in made in 2025. Some 39% of payments were contactless.

Cheques had been due to be phased out by 2018, until MPs forced a change of heart by the industry years ago.

Instead, they have withered to just 0.2% of payments made in the UK – with a total of 77 million written last year.

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Cash is unlikely to go the same way, according to forecasts by UK Finance.

Notes and coins were used in 3.9 billion, or 8%, of all payments last year. This is expected to halve to 4% of all payments in the UK in 2035, or two billion transactions.

However, some people still had a strong preference for using cash.

“Rather than the UK becoming a cash-free society over the next decade, the UK will transition to an economy where cash is less important than it once was but remains widely valued and still preferred by some,” the report said.

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Nearly 50 million people used a cash machines last year.

Nick Quin, from Link, which oversees the UK’s ATM network, said: “Cash withdrawals are falling across every part of the country. More people find it convenient and prefer to pay using contactless cards and digital wallets on smartphones, but millions still rely on cash day in, day out.

“People on lower incomes rely more heavily or entirely on cash to budget, which is why our job is to protect access to cash for as long as people need it.”

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Finfluencers Build Trust With Relatability, Rage Bait and GRWM Routines

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Finfluencers Build Trust With Relatability, Rage Bait and GRWM Routines
Nat Ives

Good morning. Financial influencers are reshaping how consumers manage their money—and how brands win their trust, Elyse Goncalves reports for The Wall Street Journal.

Less regulated and more widely accessible than the traditional financial services industry, these “finfluencers” use battle-tested growth tactics to capture attention. Stock picker Timothy James, 38, says he’s used rage-baiting lines to drive views, while U.K. creator Leo Gibson relies on radical relatability. Gibson’s financial advice video reached nearly 500,000 views by ditching institutional polish for a casual bedroom setup.

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