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China's memory chip giant CXMT surpasses Tencent in market value, becoming the highest market cap company in China's A+H share market.
On Thursday's close, CXMT's market capitalization reached 3.54 trillion yuan, surpassing Tencent (3.44 trillion yuan) for the first time, making it the highest-valued listed company in mainland China and Hong Kong. Since its listing on the STAR Market over two weeks ago, CXMT's cumulative increase has exceeded 500%, while Tencent's stock price plummeted by 4.5% after announcing its Q2 earnings. Market analysts believe this phenomenon reflects the accelerated shift of capital from internet platforms to hardware assets such as semiconductors, driven by the AI boom.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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