This period contains only one development related to Xiaomi, which does not directly involve the company itself but rather a major IPO by its competitor CXMT. CXMT debuted on Shanghai's STAR Market on July 27, raising $8.6 billion with shares surging over 470%, giving it a market cap exceeding $484 billion and making it mainland China's most valuable listed firm. The event highlights the rapid, state-backed expansion of China's semiconductor sector, which may have indirect implications for Xiaomi's technology hardware and supply chain ecosystem.
- Competitor CXMT raised $8.6 billion in its STAR Market IPO, the largest in Asia this year.
- CXMT shares surged over 470% on debut, reaching a market cap above $484 billion and making it mainland China's most valuable listed company.
- CXMT has become the world's fourth-largest DRAM maker with 8% market share, swinging to profit amid AI-driven demand.