Yangtze Memory Technologies Co. (YMTC) is moving closer to an initial public offering in China. The company has completed its pre-listing tutoring work and has been deemed to possess the necessary corporate governance structure, accounting foundation, and internal control systems required for a publicly listed company, according to a report published on the China Securities Regulatory Commission's website. This development positions YMTC to follow in the footsteps of its rival, CXMT Corp., which recently had a near-record share sale.
YMTC's parent company, CCSH Corp., has filed for a $4.9 billion IPO on the Shanghai Stock Exchange's STAR Market, planning to sell between 1.98 billion and 2.43 billion shares, representing 10% to 12% of its enlarged share capital. The target raise is 33 billion yuan (approximately $4.9 billion), with proceeds earmarked for significant investments: 20.8 billion yuan for production-line upgrades and 12.2 billion yuan for research and development. This fundraising target surpasses the 29.5 billion yuan originally set by rival CXMT, which ultimately raised 66.6 billion yuan.
The formal prospectus was accepted by the Shanghai Stock Exchange on August 21, 2026, with the actual listing targeted for the first half of 2027. YMTC's advancement comes amid a global AI-driven memory-chip shortage, and its valuation could potentially reach at least 1 trillion yuan ($148 billion). YMTC reported impressive financials, with Q1 2026 revenue of 47 billion yuan, a 100% year-over-year increase, and net profit of 33.4 billion yuan. The company now ranks third globally in NAND revenue and shipments, and first in China, reportedly surpassing Kioxia in Q2 2026 shipment volume with about 14% global NAND share.
