If I'm not mistaken I believe that CXMT's fabrication process is not suitable for manufacturing within the super tight tolerances that are needed for data center HBM, but I may be mis remembering. I think I recall a chart from somewhere showing that frontier memory manufacturers could achieve something like double the memory throughput for example.

They've indicated that they're not doing HBM. Maybe due to process constraints, maybe because Chinese companies can look beyond the next quarter and see that if in five years time they own 70% of the non-HBM market the current incumbents are never going to get that back.