Initial Thoughts on the Yangtze Memory Technologies Co (YMTC) IPO

• YMTC is getting ready to complete its IPO in China in 2H 2026/1H 2027. Many investors are lining up to subscribe to the YMTC IPO after the huge CXMT IPO.

• Reuters has mentioned that YMTC may be pushing internally for a 1 trillion won yuan ($148 billion) valuation target which is 28% of CXMT’s current market cap.

• Both CXMT and YMTC are quickly emerging as formidable competitors to SK Hynix (000660 KS) and Samsung Electronics (005930 KS).