China leading flash memory producer Yangtze Memory Technologies has officially moved toward a public listing on the Shanghai Stock Exchange STAR Market. The company plans to raise approximately 33 billion yuan to fund manufacturing expansion following massive financial gains in Q1. According to official filing documents, the domestic chipmaker now ranks 3 globally in NAND Flash production.
Financial disclosures in the preliminary prospectus show a rapid turnaround for the domestic memory champion. After reaching profitability in 2024, the company generated 47.042 billion yuan in revenue during Q1 alongside 33.379 billion yuan in net profit. Calculations by research firm TrendForce rank the company number 1 in China and number 3 worldwide in both sales revenue and overall shipment volume. That puts the Chinese producer within striking distance of long established multinational memory giants.
State backed capital funds and regional development vehicles hold the majority of the equity. Filings confirm that Hubei Changsheng controls the largest individual stake at 26.54%, with Xinfei Technology holding 25.35%. China National Integrated Circuit Industry Investment Fund owns 11.97% through its initial fund and an additional 1.38% through its second phase entity. The remaining equity is distributed among smaller strategic investors and employee holding platforms.
Securing listing approval on the STAR Market under the abbreviation Changcun Holding represents a major test for domestic capital markets. The 33 billion yuan target will feed directly into advanced fabrication facilities and next generation NAND architecture development. If completed at the proposed valuation, this public offering will rank among the largest technology listings on mainland exchanges this year.
