China Stock of the Day | Kabutaro & Friends

CXMT<688825>, China's leading DRAM maker, was the Chinese stock most talked about online on August 14, 2026.
Background: At the close of trading on August 13, 2026, CXMT's share price fell 1.20 percent to RMB 52.88, but its market capitalization held at RMB 3.54 trillion. Meanwhile, Hong Kong-listed Tencent Holdings dropped 4.46 percent to close at HKD 441 after reporting Q2 2026 net profit of RMB 58 billion, up just 3 percent year-on-year and below market expectations, alongside a 176 percent year-on-year surge in AI-related capital expenditure that pushed the quarter's free cash flow negative to RMB -13.8 billion. As a result, Tencent's market cap fell to HKD 4 trillion (about RMB 3.44 trillion), putting CXMT's market cap above Tencent's and making CXMT the largest listed company by market capitalization across mainland China and Hong Kong markets. This milestone was reported as a top headline across multiple financial news outlets and market briefings on the morning of August 14, 2026. CXMT, which opened up 465.82 percent from its RMB 8.66 issue price on its listing day of July 27, 2026, has seen its share price rise more than 500 percent above the issue price within about three weeks, and the rapid re-rating of the domestic DRAM leader amid structurally rising demand has been a major topic of online discussion.