Chinese memory chipmaker CXMT File Photo: VCG

The total market capitalization of Chinese memory chipmaker CXMT briefly exceeded 4 trillion yuan ($592.13 billion) on Friday morning, with its share price surging to 60 yuan per share, maintaining its position as the largest company in the A-share market. 

As of press time, shares of the company rose 8.95 percent.
 
Meanwhile, memory chip concept stocks opened significantly higher on Friday morning. Shares of GigaDevice, TWSC, and Wuxi Taiji Industry hit their daily limit-up, while Puya Semiconductor, Ingenic Semiconductor and DapuStor among others rose substantially.
 
CXMT made a landmark debut on the Shanghai Stock Exchange's STAR Market on Monday, with its stock surging 465.82 percent on the first day, lifting its market capitalization to 3.28 trillion yuan and making it the most valuable company on China's A-share market.

CXMT is China's largest DRAM (dynamic random-access memory) integrated device manufacturer, with capabilities spanning research, design and manufacturing. The company has developed a range of products, including DDR5 memory chips.
 
The company’s STAR Market IPO raised a total of 57.918 billion yuan. It is the largest A-share IPO so far this year and the largest IPO in the history of the STAR Market.
 
Global Times