Yangtze Memory Technologies (YMTC), China's largest NAND flash maker, has reportedly set a goal of overtaking Samsung Electronics and SK hynix as early as the end of 2027 to become the world's largest NAND manufacturer. It plans to invest funds secured through a large-scale initial public offering (IPO) into expanding production capacity and research and development (R&D).
On the 25th, Financial Times (FT) cited multiple sources to report that YMTC, in the course of preparing for an IPO, recently presented investors and stakeholders with a target of rising to No. 1 in the global NAND market as early as the end of 2027.
NAND flash is a nonvolatile memory semiconductor that retains data even when the power is off. It is used in smartphones, PCs, and solid-state drives (SSD) for data centers. According to market research firm Counterpoint Research, YMTC's NAND ranked third in the second quarter of this year with a 14% share by shipment volume, overtaking Japan's Kioxia. YMTC has enhanced its high-layer NAND competitiveness with its own "Xtacking" technology, which manufactures NAND cells separately from peripheral circuits and then combines them.
YMTC also plans to secure additional investment funds through the IPO. CCSH, YMTC's parent company, submitted an IPO application to the STAR Market of the Shanghai Stock Exchange on the 21st. The target amount to be raised is about 33 billion yuan (about 6.9 trillion won), which will be invested in upgrading production facilities and R&D.