By Che Pan and Laurie Chen

BEIJING, May 18 (Reuters) - Changxin Memory Technologies (CXMT), China's top memory chipmaker, said on Sunday ‌it expects first-half revenue to reach 110 billion yuan ‌to 120 billion yuan ($17.62 billion), according to a renewed prospectus, as surging memory ​chip prices boost its business outlook.

Memory chip prices have risen globally as an artificial intelligence-driven boom in computing chips fuels a memory supercycle. The rally helped push Samsung Electronics' market capitalization ‌above $1 trillion in May.

CXMT ⁠said global dynamic random-access memory (DRAM) demand exceeded supply as computing demand continued to grow and major chipmakers adjusted ⁠production. That has driven DRAM prices sharply higher since the second half of 2025. The company added that revenue rose quickly ​as it ​expanded output and sales and ​improved its product mix.

CXMT's ‌initial public offering is being closely watched by foreign investors and industry observers as a gauge of China's progress in DRAM chips, which have become increasingly important in the AI era because they enable faster data transmission between processors and memory.

The ‌Hefei-based company said net profit attributable to ​shareholders is expected to reach up ​to 57 billion yuan ​in the first half.

In the first quarter, CXMT's ‌revenue jumped more than 700% ​year on year ​to 50.8 billion yuan. It posted a net profit of 25 billion yuan, compared with a net loss of ​1.6 billion yuan ‌in the same period a year earlier.

($1 = 6.8092 Chinese ​yuan)

(Reporting by Che Pan and Laurie Chen; Editing by ​Rashmi Aich and Christian Schmollinger)