CXMT Proposes Raising Related-Party Transaction Amount By 2.14 Billion Yuan
MT Newswires Live
Sep 29
ChangXin Memory Technologies (SHA:688825), or CXMT, proposed to raise its estimated amount for related-party transactions for the year by 2.14 billion yuan, according to a Shanghai bourse filing on Tuesday.
The adjustment covers the amount of the company's foundry services and sales of DRAM, or dynamic random-access memory, products with its related party, GigaDevice, raising the estimated amount to 7.85 billion yuan from 5.71 billion yuan.
The Chinese chipmaker made the proposal due to the increase in DRAM products' market prices.
The company's shares rose 1% during the morning trade.
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