Chinese DRAM maker ChangXin Memory Technologies (CXMT) reported first-half sales of 150.3 billion Chinese yuan, approximately 31 trillion Korean won, up 874% from 15.4 billion yuan a year earlier and more than double its full-year sales from the previous year. Net profit reached 77.6 billion yuan, about 16 trillion Korean won, reversing a loss in the same period last year. CXMT benefited from a shortage of commodity DRAM as Samsung Electronics and SK Hynix directed capacity toward high-bandwidth memory (HBM) and advanced DRAM amid strong AI investment. Chinese memory companies are using the resulting cash flows and stock-market funding to expand production and pursue higher-value products. CXMT operates three DRAM factories and plans three more, potentially increasing monthly wafer capacity from 300,000 to more than 600,000 by 2030. Its DRAM market share could rise from 8% last year to 11% in 2028 and 15% in 2030. The company said it has begun mass-producing LPDDR6, a next-generation low-power mobile DRAM, and is developing HBM for Chinese AI accelerators. In NAND flash, Yangtze Memory Technologies (YMTC) held about 14% of the global market in the second quarter, overtaking Kioxia for third place behind Samsung Electronics and SK Hynix. YMTC aims to surpass both rivals by the end of next year and plans to raise 33 billion yuan, approximately 6.7 trillion Korean won, through a Shanghai listing in the fourth quarter. Analysts say Chinese firms remain behind South Korea in advanced memory because U.S. sanctions restrict CXMT’s access to EUV equipment, while DUV-based production creates process, cost and yield disadvantages. HBM also requires TSV and advanced packaging expertise. A semiconductor industry source said catching up in cutting-edge products will likely take considerable time.