On October 20-22 by the Huangpu River in Shanghai, the 2026 Sustainable Global Leaders Conference will return. Nobel and Turing Award winners will discuss the future and trends of technology on site, and there will also be a dialogue between the internet-famous professors who "rescue" people from anxiety and involution—Macfarlane and Xiang Biao! Limited spots available, first come first served. Let us join the sustainable journey! [Click to register] For stock trading, follow the Jin Qilin analyst research reports—authoritative, professional, timely, comprehensive, helping you uncover potential thematic opportunities! Source: China Fund News [Introduction] Cxmt Technology single-handedly crashed Samsung, SK Hynix, and Micron stock prices? China Fund News reporter Taylor. Hello everyone, in this round of AI hardware, especially the global memory chip stock price plunge, overseas markets are also looking for reasons. They believe it was triggered by Cxmt Technology's new technology. Let's take a look at what happened. On October 13, during Asian trading hours, Samsung Electronics Co., Ltd. (SSNLF) and SK Hynix shares plummeted. By the evening US trading session, the memory chip sector continued to plunge. Why did the global memory chip sector crash? Overseas markets believe it was the selling catalyst triggered by Cxmt Technology's new technology. On the news front, the Fourth Integrated Chip and Chiplet Conference was held in Shanghai from October 9 to 10. Cao Kanyu, President of Cxmt Technology, delivered a speech at the conference, comprehensively introducing Cxmt Technology's technical exploration and accumulation in DRAM devices, 4F² architecture, and hybrid bonding, and officially announced that it expects to launch a new generation DDR5 RDIMM product integrating these advanced technologies by the end of the year. Cxmt Technology stated that the company has made breakthroughs in new architecture research and development. This architecture can increase memory chip density by storing more data in a smaller space. The new design adopts "4F squared" (4F²) technology, which can improve storage density. SK Hynix is also advancing similar technology and published a related R&D roadmap in 2025. Analysts generally believe that in the most advanced memory technology field, Cxmt is still lagging behind global leaders. However, any news about its technological breakthroughs could significantly affect investors' judgment of the competitive advantages of global memory giants. Analysts said that if Cxmt truly achieves a 4F² technology breakthrough, it means it will reach this technological threshold before Samsung and SK Hynix. Morningstar analysts said: "If Cxmt can successfully and ahead of schedule apply the 4F² architecture to DRAM production, it will significantly enhance its competitive position relative to competitors. However, memory industry leaders and semiconductor equipment manufacturers have previously emphasized the difficulty of this technological transition. Therefore, we still expect a long time lag between Cxmt's release of 4F² products and the achievement of commercially valuable yield mass production." According to a previous report by HSBC, Cxmt's share of the global dynamic random access memory (DRAM) market has increased to about 10%, compared with about 4% a year ago. Citigroup analysts said in an August report: "If these products enter data center markets in other regions such as Europe, they may still indirectly affect Micron Technology (MU)." In July this year, the Financial Times cited people familiar with the matter as reporting that Apple has begun testing DRAM chips produced by Cxmt for devices sold in China and is lobbying the US government to allow broader use of the company's products. However, analysts pointed out that Cxmt's breakthrough this time will not pose a direct threat to the dominance of Samsung Electronics Co., Ltd. (SSNLF), SK Hynix, and Micron Technology (MU) in the high-bandwidth memory (HBM) field for the time being. But this event shows that Cxmt is gradually catching up with global leaders in a broader range of technology areas in the memory industry. Counterpoint Research senior analyst Choi Jeong-ku said: "If Cxmt can produce products using the 4F² architecture by the end of 2026, this will be an important milestone. Whether it can steadily improve mass production yields and establish commercial supply scale will be key to the success of this new technology." He said this could "become a good case demonstrating the growing autonomous capabilities and technological level of China's semiconductor ecosystem."