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The IPO review status of Yangtze Memory Holding Co., Ltd. has been changed to “已问询” after its initial public offering and listing on the Sci-Tech Innovation Board. The company’s IPO application was accepted on August 21, and the first round of inquiries took only 9 working days from acceptance. Yangtze Memory Holding plans to raise 33 billion yuan through this IPO, with CITIC Securities and CITIC Construction Investment serving as sponsor institutions. 20.8 billion yuan of the funds will be used for the technical upgrade of the mass production line, and 12.2 billion yuan will be used for research and development-related projects, making it the largest project in terms of fundraising for an IPO on the Sci-Tech Innovation Board. According to the prospectus, Yangtze Memory Holding’s profitability has improved rapidly since turning around from a loss in 2024. Its operating revenues from 2023 to the first quarter of 2026 were 18.744 billion yuan, 45.203 billion yuan, 63.185 billion yuan, and 47.042 billion yuan respectively; its net profits attributable to the parent company were -19.181 billion yuan, 6.771 billion yuan, 14.211 billion yuan, and 33.379 billion yuan respectively. In the first quarter of 2026, the quarterly profit exceeded twice the annual net profit in 2025, and the gross margin of NAND flash memory products reached 78.73%. According to TrendF…
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# Key progress of the leading domestic memory chip company: The review status of Yangtze Memory’s IPO has been changed to “已问询”
Yangtze Memory Technology Holdings Limited (referred to as “Yangtze Memory”) received approval on August 21, planning to raise 33 billion yuan and officially enter the review process for the Sci-Tech Innovation Board.
According to the prospectus, the company’s business performance improved significantly during the reporting period, achieving a turnaround from loss to profit in 2024. In the first quarter of 2026, revenue reached 47.042 billion yuan, with net profit attributable to the parent company reaching 33.379 billion yuan.
According to TrendForce data, from January to March 2026, Yangtze Memory ranked third globally and first in China among NAND Flash manufacturers in terms of sales amount and shipment volume.
The latest report on the memory market in the second quarter of 2026 by Counterpoint Research shows that Samsung topped the list with a 25% shipment share, followed by SK Hynix with 22%. Yangtze Memory rose to third place with a 14% share, slightly surpassing Kioxia, while Micron ranked fifth.
However, the report also noted that despite ranking third in terms of shipment volume, it…
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The review progress of Yangtze River Storage’s IPO on the Sci-Tech Innovation Board exceeded expectations. The prospectus was accepted on August 21, and it entered the inquiry phase on September 3. At current pace, the company is expected to go public by the end of this year or early next year, when domestic storage leaders ChangXin Technology and Yangtze River Storage will be together in the capital market. Based on ChangXin Technology’s current market value of approximately 3.72 trillion yuan, Yangtze River Storage’s potential market value would be over 3 trillion yuan. The company plans to raise 33 billion yuan, co-sponsored by CITIC Securities and CITIC Construction Investment. Financial data disclosed in the prospectus shows that in the first quarter of 2026, revenue reached 47.042 billion yuan, with a net profit of 33.379 billion yuan. The gross margin of NAND flash memory products was as high as 78.73%. Previously, in 2023, revenue was only 18.744 billion yuan, with a net loss of 19.181 billion yuan. In 2025, revenue increased to 63.2 billion yuan, with a net profit of 14.2 billion yuan. According to Counterpoint data, in the second quarter of 2026, Yangtze River Storage’s NAND shipments increased year-on-year…
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科创板日报
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2026-09-07 08:00
According to the 《Science and Technology Innovation Board Daily》 on September 7, last week, a total of 5 companies updated their progress in the IPO review process for the Science and Technology Innovation Board: Kao Rui Si's registration became effective, Haihe Medicine updated its first-round review inquiries, Aotuo Technology will submit its application on September 7, and the Shanghai Stock Exchange sent review inquiries to Changcun Holdings and Jatran. Among them, Changcun Holdings aims to become a world-class memory IDM company in China; as of the end of March 2026, it had established the largest 3D NAND Flash wafer production base in mainland China.