Deloitte China assists listing of CXMT on SSE STAR Market
Deloitte China assisted CXMT Corporation ("CXMT", stock code: 688825.SH) in listing on the SSE STAR Market on 27 July 2026.
As the 1st project following the introduction of the 'pre-review' pilot system for IPOs from quality technology enterprises on the SSE STAR Market by the China Securities Regulatory Commission in June 2025, CXMT's listing marks a success in the 'pre-review' pilot system for IPOs on the SSE STAR Market.
CXMT offered 6.688 billion shares, raising more than RMB57.9 billion proceeds. If the over-allotment option can be fully exercised, it can issue 7.691 billion shares in total, raising approximately RMB66.6 billion funds in total.
From left:
King Ge, Deloitte China Eastern Region Offering Services partner of Capital Market Services Group (CMSG)
Gary Chen, Deloitte China EQCR partner
Jeffrey Fu, Deloitte China deputy national managing partner of Audit & Assurance (A&A)
Dora Liu, Deloitte China CEO
Kurt Tan, Lead Client Service partner of the Deloitte China CXMT engagement
Kevin Bu, Deloitte China Eastern Region Offering Services partner of CMSG
Zack Chan, Deloitte China Valuation & Modelling Service partner
Hele He, Deloitte China A&A senior manager
Deloitte China team attend CXMT’s listing ceremony at Shanghai Stock Exchange.
Client overview
Since its establishment, CXMT has been dedicated to the research, development, design, production, and sales of Dynamic Random Access Memory (DRAM) products.
According to market research institute, Omida, CXMT’s global market share ranked 4th globally and 1st in China according to the sales of DRAM in Q4 2025. In addition, the company’s key core technologies have reached an international advanced level.
CXMT will continue to meet a constantly growing market demand for DRAM with its trustworthy products and services and is dedicated to becoming a leading technology-driven core manufacturer in the AI era. CXMT aims to empower an intelligent community and improve the quality of human life with its advanced technology.
Source: Registration version of CXMT’s IPO prospectus that was disclosed on the website of Shanghai Stock Exchange on 27 May 2026
Deloitte's role
Deloitte has been providing professional services to CXMT since its early stage of establishment. Leveraging extensive industry experience, outstanding technical expertise, efficient communication with regulators, and a rapid response mechanism, the Deloitte team has consistently delivered high-quality services, safeguarding CXMT’s IPO journey. Through proactive planning and front-loaded quality control and technical reviews, the team accurately addressed key regulatory concerns, enabling CXMT to have a smooth, orderly and highly efficient IPO process.
The success of this project not only demonstrates Deloitte’s professional expertise and capabilities in serving large hard-tech enterprises and A-share IPOs but also reflects our unwavering commitment to the highest standard of service quality and professional excellence.
Deloitte China congratulates CXMT on its listing on the SSE STAR Market. We will continue to provide high quality professional services and outstanding resources integration to assist more clients to take one-step ahead in today's increasingly competitive and complex business environment.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see About Deloitte to learn more.
Deloitte China provides integrated professional services, with our long-term commitment to be a leading contributor to China’s reform, opening-up and economic development. We are a globally connected firm with deep roots locally, owned by our partners in China. With over 20,000 professionals across 31 Chinese cities, we provide our clients with a one-stop shop offering world-leading audit, tax and consulting services.
We serve with integrity, uphold quality and strive to innovate. With our professional excellence, insight across industries, and intelligent technology solutions, we help clients and partners from many sectors seize opportunities, tackle challenges and attain world-class, high-quality development goals.
The Deloitte brand originated in 1845, and its name in Chinese (德勤) denotes integrity, diligence and excellence. Deloitte's global professional network of member firms now spans more than 150 countries and territories. Through our mission to make an impact that matters, we help reinforce public trust in capital markets, enable clients to transform and thrive, empower talents to be future-ready, and lead the way toward a stronger economy, a more equitable society and a sustainable world.
This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms or their related entities (collectively, the “Deloitte organization”) is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser.
No representations, warranties or undertakings (express or implied) are given as to the accuracy or completeness of the information in this communication, and none of DTTL, its member firms, related entities, employees or agents shall be liable or responsible for any loss or damage whatsoever arising directly or indirectly in connection with any person relying on this communication. DTTL and each of its member firms, and their related entities, are legally separate and independent entities.
