China's CXMT Reports Nearly $20B Profit Amid Memory Chip Demand

• CXMT expects a net profit of 131B to 132.5B yuan ($19.6B to $19.8B) for January to September.
• Revenue jumped to 265B to 270B yuan due to increased AI demand causing memory shortages.
• This profit follows a 5.3B yuan loss in the same period last year.
• CXMT's chairman proposed a share buyback of up to 2B yuan.
• The company's success is attributed to surging global demand for memory chips.