Chinese memory-chip maker ChangXin Memory Technologies sought to reassure investors that it is gaining ground in higher-end memory markets, citing advances in smartphone and artificial-intelligence technologies.

The update comes as the company builds on a sharp turnaround in profitability and seeks to move beyond the highly cyclical commodity memory market.

Executives said in an event with investors on Monday that demand remains strong for dynamic random-access memory products, while reaffirming plans to invest in next-generation technologies.

CXMT can "dynamically adjust product mix and production pace" to respond to market changes, said General Manager Zhao Lun, citing the flexibility of the company's integrated manufacturing model.

Zhao also signaled confidence in the company's technological progress, saying some of its products are now capable of competing with those of leading global memory makers in terms of performance, quality and supply stability.

One sign of that progress is CXMT's push into next-generation smartphone memory, a market long led by Samsung Electronics and SK Hynix and increasingly viewed as a key battleground for AI-enabled devices.

Chinese smartphone giant Xiaomi has confirmed that its coming flagship model will use CXMT's latest generation of mobile memory chips, marking one of the first commercial deployments of the technology.

The milestone has fueled speculation about whether CXMT could eventually win business from Apple. Asked about potential cooperation with the iPhone maker, Zhao said the company remains open to working with customers worldwide but declined to discuss specific commercial relationships.

The comments came after CXMT reported a nearly ten-fold rise in revenue and swung to a net profit in the first half of the year, demonstrating the effect of rising demand for memory chips on the company's financial performance.

The company's technological progress is also beginning to translate into gains in market share.

Counterpoint Research estimated that CXMT took 10% of the global DRAM market in the second quarter, up from 4% a year earlier, reaching the double-digit threshold years ahead of some industry forecasts.

Investors were also looking for signs that CXMT can extend its gains into AI-related markets, now the industry's biggest growth driver.

Asked about the progress of high-bandwidth memory, or HBM, a fast-growing technology used alongside AI processors to handle massive amounts of data, Zhao didn't address the subject directly, saying only that CXMT would continue advancing products and process technologies in line with its roadmap and commercial plans.

Goldman Sachs recently estimated that CXMT could supply roughly half of China's DRAM demand and as much as 40% of the country's HBM demand by 2028.

Analysts said Xiaomi's adoption of CXMT memory chips and rising market share show that it is making tangible progress in advanced DRAM, while investments in packaging and high-performance computing could help it break into the fast-growing AI memory market.