China's CXMT sees shares drop over 6% as investors look past chipmaker's profit turnaround

Shares of ChangXin Memory Technologies , or CXMT, fell 6.5% Monday even as the company on Friday forecast a sharp swing to profitability for the first nine months of 2026. CXMT said in a filing Friday that it expects net profit attributable to shareholders of between 131 billion yuan ($19.58 billion) and 132.5 billion yuan for the January-to-September period, reversing a net loss of 5.28 billion yuan a year earlier, according to a Google translation of the filing. The company expects revenue of around 265 billion yuan to 270 billion yuan, an increase of 232.9 billion yuan to 237.9 billion yuan from the same period a year earlier.