On August 21st, the Shanghai Stock Exchange announced that the initial public offering application of Yangtze Memory Holdings Co., Ltd. on the STAR Market has been formally accepted. The company plans to raise 33 billion yuan, positioning it to potentially become the third-largest newly listed entity on the board.

According to the filing, Yangtze Memory intends to issue no fewer than 1.98 billion shares and no more than 2.43 billion shares, representing approximately 10% to 12% of the total share capital post-listing. The funds raised will be channeled into technological upgrades for mass production lines and ongoing research and development initiatives. The sponsorship for this listing is jointly handled by CITIC Securities and CSC Financial.

Driven by robust demand from AI computing power and a recovering memory market, Yangtze Memory recorded a net profit of 33.38 billion yuan in the first quarter of this year. This figure is more than 2.3 times the total profit for the entire previous year. Concurrently, its revenue reached 47.04 billion yuan, which accounts for 74% of its total revenue from the prior year.

This content is compiled from publicly available sources and is not intended as investment advice. Please verify information independently before use.