[Reuters: YMTC IPO Expected to Raise 33 Billion RMB, Issuing 1.98 to 2.43 Billion New Shares] BlockBeats News, August 24, according to Reuters, the IPO application of China’s largest flash memory chip manufacturer Yangtze Memory Technologies (YMTC) parent company, Yangtze Memory Technologies Holdings (CCSH Corporation), on the STAR Market of the Shanghai Stock Exchange has been accepted. The market expects the company to go public next year. This IPO is expected to raise 33 billion RMB (approximately $4.9 billion). CCSH plans to issue 1.98 billion to 2.43 billion new shares. The prospectus shows that the company’s revenue in the first quarter of 2026 (January to March) reached 47 billion RMB, a nearly fivefold year-on-year increase; net profit was 33.38 billion RMB, more than double the full-year net profit of 14.21 billion RMB in 2025. Meanwhile, YMTC’s factories are currently operating near full capacity and continue to expand sales in the tightening NAND flash memory market. The average selling price of NAND flash memory in the first quarter of 2026 reached 2.73 times the average level of 2025, with the gross profit margin rising sharply from 35.3% in 2025 to 76.8%. CCSH plans to allocate 20.8 billion RMB of the funds raised from this IPO to expand production lines, with another 12.2 billion RMB earmarked for research and development of next-generation NAND flash memory and high-speed storage products. [Original Link]