Memory-chip maker CXMT soared 466% in its first day of trading today to become mainland China's most valuable listed company.

But the company, China's national champion in the red-hot memory-chip business, still has a long way to go to catch up with its global competitors.

As of today's close, CXMT's market cap of around $484 billion is less than half that of South Korea's Samsung and American chip maker Micron. It also lags SK Hynix, which has a market value of around $900 billion.