Bloomberg: YMTC Completes IPO Sponsorship, Poised to Become China's Next Major Chip Listing企业

BlockBeats News, August 19th, according to Bloomberg, Chinese storage chip manufacturer Yangtze Memory Technologies (YMTC) has completed the listing guidance work, further advancing towards its A-share market debut.

The website of the China Securities Regulatory Commission shows that Yangtze Memory has completed pre-listing guidance and has been identified as having the corporate governance structure, financial foundation, and internal control system required by a listed company.

The market believes that YMTC is expected to replicate the capital market path of its competitor ChangXin Memory Technologies (CXMT), expanding its capacity through an IPO, and helping China advance the localization of the semiconductor industry.

Previously, CXMT completed the second-largest IPO in mainland China, raising approximately 66.6 billion yuan, and its stock price soared after listing, becoming one of the highest market cap companies in China at one point.

YMTC and CXMT are both key companies in China's independent semiconductor supply chain. With the global demand for AI driving a tight supply of storage chips, both companies have attracted attention from the capital market, and stocks in the related chip industry chain have surged recently.

Reportedly, in the second quarter of this year, Yangtze Memory's NAND flash memory shipment volume exceeded that of Japan's Kioxia for the first time, making it the world's third-largest NAND flash memory supplier and further narrowing the market gap with Samsung Electronics and SK Hynix.

However, the news of YMTC's IPO has also raised concerns in the market about liquidity. Some investors believe that the IPO of large tech companies may divert market funds, putting pressure on the short-term performance of tech stocks. On Wednesday, the STAR 50 Index fell by 6.9%, marking the largest decline in nearly a month.