[News] Beyond CXMT’s 89.53% Gross Margin in 3Q26: 3 Key Takeaways on LTAs, 4F² Advancement and LPDDR6

What happened

According to 21st Century Business Herald, CXMT's third-quarter gross margin rose 1.94 percentage points QoQ to 89.53%; for comparison, Micron reported 87% gross margin for the quarter ended September 3, 2026, and Samsung posted a consolidated gross margin of 69.3% in 3Q26. Per The Paper, CXMT's revenue surged 738.51% YoY to CNY 269.02 billion in the first nine months of 2026, while net profit swung to CNY 132.04 billion from a year-earlier loss. Three key takeaways from the earnings call: first, LTA negotiations with several major clients were progressing well, aiming to secure medium- to long-term demand (Samsung has LTAs with 10 customers and SK hynix with 14); second, per Star Market Daily, CXMT's products are generally priced on par with overseas rivals, and the company expects its gross margin to remain stable in 4Q26; third, per The Paper, CXMT's sixth-generation process platform based on 4F² vertical-channel DRAM architecture completed engineering sample validation, with key performance targets met on actual wafers, and the company targets sampling 4F²-based DDR5 RDIMMs for servers by the end of 2026. LPDDR6 shipments to smartphone makers led by Xiaomi are already underway, with automotive and server applications as the next expansion targets. CXMT's strong results were mainly built on tight supply and rising prices.

Impact and signal

Affected components and suppliers

Source and time

Source: TrendForce · 11/1/2026 · View original source