중국 최대 메모리 제조사 CXMT가 베이징 인근 제2 공장에 3D NAND 연구 프로그램 및 파일럿 라인을 구축할 계획인 것으로 알려졌다.

A new report indicates that China’s leading DRAM manufacturer, CXMT, is pursuing entry into the 3D NAND memory market. Citing three individuals familiar with the company’s plans, Reuters reports that CXMT intends to construct a 3D NAND research and development production line at its second manufacturing facility near Beijing. While no specific timeline has been provided for when the experimental line will become operational, the project is likely at least two to three years away, particularly since construction on the second Beijing fab has not yet begun. Additionally, one source notes that CXMT has already established a research institute in Beijing where NAND flash development is listed among its active projects. The company has not formally confirmed any 3D NAND initiatives, so these developments should be viewed as preliminary.

At present, there are no publicly available details regarding CXMT’s proposed 3D NAND architecture, active layer count, process technology, expected performance metrics, or target production capacity. Nevertheless, the report claims that CXMT has already held discussions with prospective customers about its NAND ambitions. One such client is reportedly a newly formed enterprise planning to incorporate CXMT-manufactured NAND devices into storage solutions designed for artificial intelligence and supercomputing applications.

Whether CXMT’s 3D NAND project will ultimately advance to high-volume manufacturing remains uncertain. If it does, the initiative would mark a significant strategic pivot, moving the company beyond its traditional DRAM specialization and directly into competition with YMTC. Until recently, China’s two dominant memory producers had maintained strict divisions of labor, focusing exclusively on their respective domains—3D NAND for YMTC and DRAM for CXMT—where both have achieved considerable success. However, industry trends suggest both companies are now positioning themselves as comprehensive memory suppliers, mirroring the strategies of global leaders Micron, Samsung, and SK hynix. YMTC, for instance, has reportedly begun exploring DRAM production as well.

While CXMT’s alleged expansion into 3D NAND appears logical from a business diversification standpoint, it currently lacks clear commercial justification. As China’s premier DRAM producer, CXMT reported $22.41 billion in revenue and $11.57 billion in net profit for the first half of the year, rebounding strongly after years of sustained losses. Despite this turnaround, the company remains significantly smaller than the industry’s Big Three, leaving ample opportunity to scale within its existing footprint of proven process technologies, manufacturing facilities, and established customer bases. Furthermore, the AI boom presents a compelling rationale for CXMT to concentrate its capital and engineering talent on advanced DRAM and HBM3E, products that hold substantially greater strategic value than commodity 3D NAND. Transitioning to 3D NAND would also require entirely different manufacturing processes, specialized expertise, and dedicated equipment, rendering the move economically inefficient from a purely corporate perspective.

From a state policy angle, however, the strategy aligns closely with Beijing’s broader semiconductor self-sufficiency objectives. Transforming CXMT into a secondary domestic 3D NAND supplier would significantly bolster China’s supply chain resilience. CXMT was originally capitalized with funding from the Hefei municipal government, which retained a 37 percent equity stake during the company’s initial public offering, and has benefited from support via China’s Big Fund. Consequently, federal and local authorities maintain substantial influence over CXMT’s operations and can direct its strategic priorities accordingly. Whether CXMT can successfully execute this technological leap and establish itself as a competitive 3D NAND manufacturer remains an open question.