Yangtze Memory Technologies aims for A-shares listing, valuation possibly exceeding one trillion yuan (including video)

[Caixin] On May 19, the China Securities Regulatory Commission website disclosed that the IPO counseling record for Yangtze Memory Technologies Corporation has been accepted by the Hubei Securities Regulatory Bureau on the same day. This marks the official start of the domestic flash memory leader's listing process, and market valuation expectations have already aligned more closely with Changxin Technology, another storage leader.

The counseling record report revealed that the counseling agencies are CITIC Securities and CITIC Construction Investment Securities. Yangtze Memory was established on December 21, 2016, with a registered capital of 17.82 billion yuan, and has no controlling shareholder. The largest shareholder is Hubei Changsheng Development Co., Ltd., which directly holds 26.5442% of the company’s shares. Its industry belongs to computer, communication, and other electronic equipment manufacturing.

Qichacha shows that the core shareholders of Yangtze Memory include the National Big Fund and local state-owned assets from Hubei and Wuhan, holding over 92% of the shares. Among them, Hubei Changsheng Development Co., Ltd. holds 26.54%; Wuhan Xinfeng Technology Investment Co., Ltd. holds 25.35%; the National Integrated Circuit Industry Investment Fund Phase I and Phase II together hold about 23%. Additionally, Wuhan Optics Valley Industrial Investment Co., Ltd. holds 9.26%, Hubei Guoxin Industry Investment Fund holds 5.90%, and Yangtze River Industry Investment Group holds 2.53%. Furthermore, financial asset investment companies under Bank of China, China Construction Bank, Bank of Communications, Agricultural Bank of China, and Industrial and Commercial Bank of China hold about 3% of the shares, and CCTV Media Industry Investment Fund holds 0.15%.