CCSH, parent company of YMTC, gets STAR Market IPO application accepted, plans to raise RMB 33 billion

Odaily News: The STAR Market listing application of CCSH Corporation, the parent company of Yangtze Memory Technologies Co. (YMTC), has been accepted by the Shanghai Stock Exchange. The company plans to raise RMB 33 billion (approximately USD 4.9 billion), with an expected market valuation of RMB 275 billion to RMB 330 billion post-listing. If completed successfully, this IPO is expected to become the third-largest in STAR Market history by fundraising scale, trailing only CXMT and SMIC.

According to the prospectus, CCSH recorded revenue of RMB 47 billion in Q1 2026, nearly five times the figure from the same period last year; net profit reached RMB 33.38 billion, more than double the full-year level of 2025. During the same period, the average selling price of NAND flash memory rose to 2.73 times the 2025 average, while gross margin climbed from 35.3% to 76.8%. The company plans to allocate RMB 20.8 billion of the raised funds to expand production lines and RMB 12.2 billion to R&D for next-generation NAND flash and high-speed storage products. (Reuters)