Chinese memory giant YMTC to grow revenue 6 times faster than peers as IPO nears: report
Yangtze Memory Technologies Corporation (YMTC), a Chinese flash-memory manufacturer, is projected to achieve revenue growth six times faster than its industry peers this year. This expansion is attributed to its entry into server-related businesses, with server-related revenue potentially reaching 39 percent of its total by 2028, up from effectively zero in 2024, according to Counterpoint Research.
YMTC's strategic pivot towards enterprise solid-state drives (SSDs) and AI infrastructure represents a substantial reorientation of its business model. The projection of server-related revenue growing from negligible levels in 2024 to nearly 39 percent by 2028 indicates a rapid shift towards higher-value segments of the memory market, signaling the company's intent to capture demand from data centers and AI applications.
This expansion is supported by the planned initial public offering (IPO) of its parent, CCSH Corporation, on Shanghai's Star Market, aiming to raise 33 billion yuan (US$4.9 billion). The funding is intended to fuel this growth, building on a reported 40 percent year-on-year revenue increase to 63 billion yuan in 2025, as cited in the prospectus.
The focus on enterprise SSDs and AI infrastructure allows YMTC to move beyond more commoditized memory products. Success in these areas could improve its profitability and market standing by addressing the increasing need for advanced memory solutions driven by global investments in AI computing capabilities.
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