"Chinese NAND Maker Targeting No. 1 Market Position, Aims to Surpass Samsung and SK hynix by 2027 Ahead of IPO"

FT Cites Two Industry Sources
Goal of Becoming No. 1 NAND Producer by End of Next Year Shared at IPO Investor Meeting
"Targeting Top Position in NAND Market by Late Next Year"

Yangtze Memory Technologies (YMTC), a Chinese NAND flash manufacturer, is reportedly aiming to surpass Samsung Electronics and SK hynix as early as the end of next year to become the world's largest NAND producer.

YMTC (Yangtze Memory Technologies) logo of the Chinese NAND flash company. Photo by Reuters and Yonhap News Agency

On August 26, the Financial Times (FT) of the UK reported, citing two sources familiar with the matter, that YMTC, headquartered in Wuhan, China, recently set a goal during investor and stakeholder meetings for its planned initial public offering (IPO): to become the number one player in the global NAND market by the end of 2027 at the earliest.

CCSH Corporation, the parent company of YMTC, submitted an application for IPO to the Shanghai Stock Exchange last week. The company plans to raise 33 billion yuan (about 6.8 trillion won) through this listing. Most of the funds will be used to upgrade production facilities and invest in research and development (R&D).

The Hurun Research Institute, China's leading business research entity, has estimated YMTC's corporate value at 160 billion yuan. Industry observers expect that following the IPO, YMTC's market capitalization could exceed 1 trillion yuan (about 206 trillion won). However, a banker involved in the IPO told FT that the offering price may be conservatively set according to regulatory guidelines.

One reason YMTC is expediting its IPO process is the successful market debut of Changxin Memory Technologies (CXMT), a Chinese DRAM manufacturer. Last month, CXMT raised 9 billion dollars, marking the largest-ever IPO in Asia, and saw its corporate value jump by more than 400%. Unitree, a humanoid robot developer, also successfully entered the market.

According to market research firm TrendForce, YMTC ranked third in the global NAND market in the first quarter of this year, behind Samsung Electronics and SK hynix. It is the top NAND manufacturer among Chinese companies. The global NAND market grew from 71 billion dollars (about 98 trillion won) last year to 300 billion dollars (about 415 trillion won) in 2026. It is projected to reach approximately 490 billion dollars (about 679 trillion won) by 2030.

This content was produced with the assistance of AI translation services.