{
  "id": 3779034,
  "title": "China's YMTC aims to become the world's largest NAND maker by the end of 2027, report says — company plans to overtake Samsung and SK hynix",
  "url": "https://urgent.news/2026/08/27/chinas-ymtc-aims-to-become-the-worlds-largest-nand-maker-by-the-end",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-08-27T16:54:24.000Z",
  "source": {
    "name": "Tom's Hardware",
    "slug": "tom-s-hardware",
    "url": "https://www.tomshardware.com/pc-components/dram/chinas-ymtc-aims-to-become-the-worlds-largest-nand-maker-by-the-end-of-2027"
  },
  "original_language": "en",
  "account": "Yangtze Memory Technologies (YMTC) has announced ambitions to become the world's leading NAND flash manufacturer by the end of 2027, potentially surpassing Samsung and SK hynix, according to a Financial Times report. The company, based in Wuhan, recently filed for a 33 billion yuan ($4.9 billion) IPO on the Shanghai Stock Exchange's STAR Market, with a significant portion of the funds earmarked for upgrading production lines and advancing research and development. This ambition would require YMTC to nearly double its market share in 16 months. Currently, the company holds around 14% of global NAND shipments, tied with Kioxia, and outpaces market leaders Samsung (25%) and SK hynix (22%) combined. YMTC, profitable since 2024, achieved a first-quarter revenue of 47.04 billion yuan ($7 billion) and a net profit of 33.38 billion yuan, marking substantial growth compared to 2025. The company's capital expenditures totaled 96.39 billion yuan on long-term assets and 15.95 billion yuan on R&D, resulting in high margins of 35.3% in 2025 and 76.77% in Q1 2026. Despite these impressive margins, the cost of achieving this milestone is substantial, with depreciation and amortization charges eating away at profits. YMTC plans to issue 1.98 billion to 2.43 billion A-shares, representing 10% to 12% of its post-offering capital, with proceeds allocated to production line upgrades and R&D. This valuation suggests a post-listing value of 275 to 330 billion yuan, though the IPO price may be conservative to comply with regulatory guidelines. The IPO follows in the footsteps of ChangXin Memory Technologies (CXMT), China's leading DRAM maker, which raised $8.6 billion in July and quickly became the most valuable company listed in China. Both firms are expanding their output with new fabs in Shanghai and Wuhan, raising concerns among global investors about the impact of Chinese companies' capacity expansions on memory supply and demand. YMTC, listed under the U.S. Commerce Department's Entity List since December 2022, has been restricted from advanced American fab tools. However, its position as the world's third-largest NAND supplier with 76% gross margins highlights the effectiveness of U.S. export controls on logic, while NAND competitiveness relies on factors like layer counts, stacking architecture, and hybrid bonding, which are not dependent on EUV lithography.",
  "summary": "The target would require YMTC to nearly double its market share in 16 months.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}