CXMT Reports 700% Revenue Surge to 50.8 Billion Yuan Ahead of IPO

1 articles · Updated · Bloomberg · May 18

50.8 billion yuan in first-quarter revenue marked a more than 700% jump for CXMT, according to a prospectus filed Sunday as the Chinese memory-chip maker prepares for an IPO later this year.
More than 20 billion yuan in profit accompanied that sales surge in the three months ended March, reversing a loss in the same period a year earlier.
The filing points to higher earnings ahead, strengthening the Hefei-based company's financial profile before what is expected to be a high-profile listing.

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