China's CXMT to Invest Heavily in R&D and Wafer Testing for Chipmaking
China's leading memory supplier, CXMT, has announced significant planned expenditures for research and development and the expansion of its wafer testing base, according to a stock filing reported by the South China Morning Post.
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Based on reporting by South China Morning Post:
According to a stock filing released on Monday, China's leading memory supplier, CXMT, which is listed on the Star Market of the Shanghai Stock Exchange, intends to allocate 24.1 billion yuan to a new technology research and development initiative. Furthermore, the company plans to invest 10.8 billion yuan into the second phase of a wafer testing base.
The spending strategy highlights the substantial capital requirements associated with the dynamic random-access memory (DRAM) producer's efforts to advance into more sophisticated products. The filing indicated that approximately 22.4 billion yuan, which constitutes about 93 percent of the budget for the R&D project, is designated for the acquisition of equipment.
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