Although Changxin Memory Technology (CXMT), a leading Chinese DRAM manufacturer, is expanding its size through aggressive facility investments, its actual production volume is falling short of its target. Low yields are cited as a significant gap between facility capacity and production volume.
However, CXMT, backed by Chinese government support, is accelerating the development of high-bandwidth memory (HBM) in partnership with Huawei, and is fiercely pursuing Korean semiconductor companies.
■Hindrance due to sluggish yields… Production capacity is 13%, but actual market share is in the single digits
CXMT's low-power memory 'LPDDR5X'. [Source: CXMT website capture]
According to market research firm Counterpoint Research on the 1st, CXMT's production capacity share of the global DRAM market is 13%, but its actual market share in terms of production volume is only 6%, and in terms of revenue, it only accounts for 4%.
The primary cause of this "illusion of market share" is its significantly lower yields compared to its competitors. According to a Counterpoint Research report, the yield of CXMT's flagship 1x (10nm-class 1st generation) DRAM process as of 2024 is approximately 42% lower than the yield of the 1a (10nm-class 4th generation) process of the three memory companies, including Samsung Electronics and SK Hynix. This means that while the yield of the three memory companies is 90%, CXMT's yield is only 52.2%.
CXMT is narrowing the technology gap by migrating to 1z (10nm-class 3rd generation) process technology, but the situation remains challenging. As of 2025, the yield gap compared to competitors' flagship 1b (10nm-class 5th generation) process still stands at 32%.
The report analyzed, "CXMT's low bit production per wafer and low yield mean its actual production volume remains at around 50% of its facility capacity." This suggests that while China's semiconductor industry may have achieved quantitative expansion, it still lags significantly behind Korean companies in terms of quality.
■ A Breakneck "Red Supply Chain"… HBM Independence Begins
Samsung Electronics' HBM4 and HBM3E. [Source: EBN]
The problem is that China's pursuit of competitiveness goes beyond yield and profitability. Despite low yields, CXMT is staking its life on securing next-generation memory technology. Its activities in the HBM sector, a key area for artificial intelligence (AI) semiconductors, are particularly noteworthy.
CXMT is pursuing mass production of HBM3 and is attempting to establish its own supply chain to achieve this. CXMT is currently developing a 16Gb DRAM core die using the G4 (16nm) process, which it plans to incorporate into Huawei's AI accelerators. The base die is expected to be fabricated using SIMC's 28nm process, and there are also rumors of a potential collaboration with Cambricon, often referred to as the Chinese Nvidia.
CXMT's HBM yield is known to be extremely low, at around 10-20%. However, backed by massive subsidies from the Chinese government and the domestic market, the company is currently developing the product, aiming for a launch in 2026. Counterpoint Research stated, "CXMT's HBM sample rate has currently reached 4.4 Gbps, and the company aims to increase the transmission speed to 5.2 Gbps by the end of 2025."
출처: EBN 뉴스센터()
I think the data is what the media has guessed based on cxmt's production capacity and actual production volume.
