Chinese memory giant YMTC to grow revenue 6 times faster than peers as IPO nears: report
Por Howard Liu — South China Morning Post – News feed
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Country’s top NAND maker bets on enterprise SSDs and AI infrastructure to drive next phase of growth, Counterpoint says
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Howard Liu in Beijing Published: 7:00pm, 14 Oct 2026
Yangtze Memory Technologies Corporation (YMTC), China’s leading flash-memory maker, is set to grow revenue six times faster than its industry peers this year as it expands into server-related business ahead of a planned initial public offering (IPO), according to Counterpoint Research.
The company’s server-related revenue was effectively zero in 2024, but could account for nearly 39 per cent of its revenue by 2028, according to the market intelligence firm on Tuesday.
Much of the momentum is tied to a growing role for enterprise solid-state drives (SSDs), which are widely used in data centres. The shift would broaden YMTC’s business beyond storage products for smartphones and personal computers.
The expansion comes as the company’s parent, CCSH Corporation, seeks to raise 33 billion yuan (US$4.9 billion) through a listing on Shanghai’s Star Market. Its revenue grew 40 per cent year on year to 63 billion yuan in 2025, according to the prospectus.
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