CXMT Corporation, a Chinese DRAM maker, overtook Tencent on Aug. 13 to become China’s most valuable listed company by market capitalization. CXMT’s market value reached about RMB3.54 trillion, compared with Tencent’s roughly HK$4.01 trillion, or about RMB3.45 trillion.
CXMT went public on Shanghai’s STAR Market on July 27 at RMB8.66 a share. It opened at RMB49.50, up 471.59%, pushing its market value above RMB3.31 trillion. The stock later rose above RMB55 intraday, briefly bringing its market capitalization close to RMB3.7 trillion. [IT Home, in Chinese]