BUSINESS

In Profile: The Man Behind China’s Leading Memory Chipmaker

Published: Jun. 30, 2026 12:30 p.m. GMT+8

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Zhu Yiming. Photo: CXMT

China’s securities regulator approved memory chipmaker CXMT Corp.’s IPO registration on June 12, clearing the way for what would be the largest-ever listing on Shanghai’s tech-focused STAR Market.

Many investors see CXMT, a leading producer of dynamic random-access memory (DRAM), as central to driving the current bull run in domestic technology stocks, with a shortage-fueled financial turnaround boosting expectations that its market value could reach into the trillions of yuan.

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China's CXMT, a DRAM chipmaker, received IPO approval on June 12 for the largest listing on Shanghai's STAR Market.
Founder Zhu Yiming, a Tsinghua graduate, started GigaDevice in Silicon Valley before moving to China and launching CXMT in 2016.
CXMT became the world's fourth-largest DRAM maker by sales, reporting 33 billion yuan net profit in Q1 2025 versus a loss a year earlier.

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Who’s Who

CXMT Corp.: CXMT Corp., China's leading DRAM maker, received IPO approval on June 12 for Shanghai's STAR Market. Founded by serial entrepreneur Zhu Yiming, it's now the world's fourth-largest DRAM producer by sales. After a loss last year, CXMT reported 33 billion yuan net profit in Q1 2025.

GigaDevice: GigaDevice is a memory chip company founded by Zhu Yiming in Silicon Valley in 2005. It went public on Shanghai’s STAR Market in 2016. Zhu later partnered with the Hefei government to establish CXMT, a leading DRAM manufacturer that became the world’s fourth-largest DRAM maker by sales.

Monolithic System Technologies (MoSys): According to the article, Monolithic System Technologies (MoSys) was an industry heavyweight. Zhu Yiming joined MoSys in 2001 as a project lead for memory chip development. MoSys supplied embedded memory chips to Nintendo GameCube and system-on-a-chip products to Toshiba and Fuji.

iPolicy Networks: iPolicy Networks is a cybersecurity company where Zhu Yiming worked in the U.S. He was part of its network processor and search engine chip unit before moving to MoSys in 2001.

Nintendo: According to the article, Nintendo's GameCube console used embedded memory chips supplied by MoSys, where Zhu Yiming worked as a project lead. This connection highlights Nintendo's role in the memory chip industry during that period.

Toshiba: In the article, Toshiba is mentioned as one of the companies that Monolithic System Technologies (MoSys) supplied system-on-a-chip products to during the early 2000s. No other details about Toshiba are provided.

Fuji: According to the article, Monolithic System Technologies (MoSys) supplied system-on-a-chip products to companies including Fuji. No further details about Fuji are provided in the article.

Samsung Electronics Co.: Samsung Electronics Co. is mentioned in the article as one of the entrenched industry leaders in the DRAM market, alongside SK Hynix Inc. and Micron Technology Inc. The company uses its technological expertise, manufacturing scale, and patent portfolios to maintain a dominant position against new entrants like CXMT.

SK Hynix Inc.: SK Hynix Inc. is a South Korean memory chipmaker and a leading global DRAM producer. The article identifies it as an entrenched industry leader that competes with Chinese newcomer CXMT Corp. in the dynamic random-access memory market.

Micron Technology Inc.: Micron Technology Inc. is a major DRAM manufacturer, cited in the article as one of the entrenched industry leaders—alongside Samsung and SK Hynix—that CXMT competes against. Micron leverages technological expertise, manufacturing scale, and extensive patent portfolios to fend off new entrants in the global memory chip market.

WiLAN: WiLAN is a Canadian intellectual property licensing company. In 2019, its subsidiary granted CXMT access to numerous DRAM-related patents via an agreement, helping the Chinese memory chipmaker break into the DRAM market dominated by Samsung, SK Hynix, and Micron.

Tsinghua Science Park Venture Capital: Tsinghua Science Park Venture Capital was involved in the early development of memory chipmaker GigaDevice. Its deputy general manager, Xue Jun, persuaded founder Zhu Yiming to relocate GigaDevice to China in 2005, later playing a key role in the company's funding rounds.

Omdia: Omdia is a research firm cited in the article for its data on CXMT's DRAM market share. It reported CXMT held 7.67% of the global DRAM market in Q4 2025, making it the fourth-largest DRAM-maker, and predicted further growth as CXMT expands production and upgrades technology.

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What Happened When

1972：: Zhu Yiming was born in Yancheng, Jiangsu province, China.

1989：: Zhu Yiming enrolled in the physics department of Tsinghua University.

1994：: Zhu Yiming obtained his master's degree in physics from Tsinghua University and traveled to the U.S. to pursue another master's degree at the State University of New York at Stony Brook.

2001：: Zhu Yiming joined Monolithic System Technologies (MoSys) as a project lead for memory chip development.

Late 2003：: Zhu Yiming began considering starting his own business after his idea of improving chip designs was undervalued by MoSys' management.

Early April 2005：: Zhu Yiming established GigaDevice in Silicon Valley with backing from Li Jun.

Late April 2005：: Zhu Yiming relocated GigaDevice's business to China after persuasion by Xue Jun.

2016：: GigaDevice went public in Shanghai, and Zhu Yiming partnered with the Hefei municipal government to lead the development of the '506' DRAM manufacturing project operating under CXMT.

2019：: CXMT signed an agreement giving it access to numerous DRAM-related patents held by a subsidiary of WiLAN, nearly a year after Zhu Yiming took up the posts of CXMT Chairman and CEO.

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