CXMT forecasts up to US$19.8 billion in 3 quarters’ net income; pledges share buy-back

South China Morning Post - Oct 18, 2026

Chinese memory chip giant ChangXin Memory Technologies (CXMT) forecast a net income of up to US$19.8 billion for the first nine months of 2026, marking a dramatic swing from a loss a year ago, as the domestic champion cashed in on artificial intelligence-driven demand while aggressively challenging global rivals including Samsung Electronics and SK Hynix. Meanwhile, Zhu Yiming, chairman of the Hefei-based memory giant, proposed to buy back 1 billion (US$149.56 million) to 2 billion yuan of...

Read full article
MORE NEWS
20 restaurants prosecuted for allowing dogs without permits since scheme launched
20 restaurants prosecuted for allowing dogs without permits since scheme launched
Hong Kong authorities have prosecuted 20 restaurants for unlawfully allowing dogs onto their premises since the city’s dog-friendly dining scheme launched in July. The Food and Environmental Hygiene Department said on...
Oct 18, 2026See more
Hong Kong’s primary residential market sees wave of launches, successful sales
Hong Kong’s primary residential market sees wave of launches, successful sales
Hong Kong homebuyers are poised to see new residential launches in the coming days and weeks following a sell-out weekend of more than 360 flats in two major projects in...
Oct 18, 2026See more
Qian Jiang, former Johns Hopkins’ eye institute expert, joins hospital in China
Qian Jiang, former Johns Hopkins’ eye institute expert, joins hospital in China
Professor Qian Jiang, a senior eye expert at Johns Hopkins University in the United States, has moved back to China full time to pursue research on eye transplants. For more than...
Oct 18, 2026See more
Huanggang Port swarmed by holiday rush with reports of 2-hour waits
Huanggang Port swarmed by holiday rush with reports of 2-hour waits
Massive holiday crowds swamped the revamped Huanggang Port on Sunday during its first real test over the festival long weekend, with some travellers reporting two-hour waits. Outbound passenger traffic was “exceptionally...
Oct 18, 2026See more
Influential patriotic educator Ng Hon-mun dies aged 100
Influential patriotic educator Ng Hon-mun dies aged 100
Ng Hon-mun, an influential pro-Beijing educator and long-serving Hong Kong deputy to the National People’s Congress who at one point called for its reform, has died at the age of...
Oct 18, 2026See more
China slams Japan’s Takaichi over Yasukuni ritual offering, warns of ‘remilitarisation’
China slams Japan’s Takaichi over Yasukuni ritual offering, warns of ‘remilitarisation’
China has condemned Japanese Prime Minister Sanae Takaichi for sending a ritual offering to Tokyo’s war-linked Yasukuni Shrine, a move that threatens to further strain ties between the neighbours. At the...
Oct 18, 2026See more
Hong Kong police to link mall CCTVs to surveillance network, security chief says
Hong Kong police to link mall CCTVs to surveillance network, security chief says
Hong Kong police are in the final stages of talks to connect security cameras at shopping centres to the force’s expanding smart surveillance network aimed at tackling crime, the security...
Oct 18, 2026See more
More drug, semiconductor firms to set up or expand in Hong Kong, OASES head says
More drug, semiconductor firms to set up or expand in Hong Kong, OASES head says
Ten to 20 more companies are set to establish or expand operations in Hong Kong, including leading drug makers and a semiconductor business, with a roughly equal number of mainland...
Oct 18, 2026See more
Hong Kong ‘optimistic’ on economic growth despite global slowdown, Paul Chan says
Hong Kong ‘optimistic’ on economic growth despite global slowdown, Paul Chan says
The government is more “optimistic” than the International Monetary Fund (IMF) about Hong Kong’s economic growth for the year, the finance chief has said, pointing to the city’s unique position...
Oct 18, 2026See more
China moves to cement ties with Uzbekistan amid tussle with US for Central Asian influence
China moves to cement ties with Uzbekistan amid tussle with US for Central Asian influence
Chinese Premier Li Qiang has called for deeper cooperation with Uzbekistan in areas such as minerals and artificial intelligence (AI) as Beijing vies with Washington for influence in Central Asia. Li...
Oct 18, 2026See more
Cherish peace and stability, John Lee urges Hongkongers during Chung Yeung Festival
Cherish peace and stability, John Lee urges Hongkongers during Chung Yeung Festival
Hong Kong’s leader has urged residents to cherish peace and stability as senior officials marked the Chung Yeung Festival with tributes to the city’s wartime defenders and public servants who...
Oct 18, 2026See more
Banking on bricks: entrepreneur builds a business case for recycling plastic waste
Banking on bricks: entrepreneur builds a business case for recycling plastic waste
Former investment banker Shervin Sharghy takes a practical approach to plastic recycling, first asking whether it makes financial sense before tackling the technical challenges. The founder of Hong Kong-based EcoBricks said...
Oct 18, 2026See more
RECOMMENDED