YMTC IPO plans moved forward after Yangtze Memory Technologies Corp. began China’s pre-listing “tutoring” process, a securities regulator filing showed on Tuesday.
The step involves formal guidance from an investment bank before any prospectus filing. In China, companies must complete this coaching stage before they seek a mainland listing.
Yangtze Memory Technologies Corp. is China’s top NAND flash memory chipmaker. The Wuhan-based company makes storage chips used in phones, computers, servers and AI systems.
Earlier reports said YMTC could seek a valuation of 200 billion yuan to 300 billion yuan, or about $28 billion to $42.3 billion. Tech in Asia also reported those valuation targets in October 2025.
The possible listing would come amid China’s push for semiconductor self-reliance. Washington added YMTC to the U.S. Entity List in 2022, limiting its access to certain American technologies.
Market timing may help YMTC. Global memory supply tightened in early 2026, while NAND flash prices rose sharply during the quarter.
The company also plans a major capacity push. YMTC has explored two more factories, in addition to a major facility planned for completion in 2026.
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YMTC’s Xtacking architecture has helped it gain share in global NAND flash. Still, the company trails larger rivals such as Samsung Electronics, SK Hynix and Micron Technology.
YMTC has started China’s pre-IPO “tutoring” process with an investment bank, according to a securities regulator filing.
