YMTC's STAR Market IPO Review Status Changes to 'Under Inquiry', Only 9 Working Days After Acceptance
Summary
YMTC Holding's STAR Market IPO review status changed to 'under inquiry' on September 3, with its application accepted on August 21, just 9 working days apart. The IPO aims to raise 33 billion yuan, the largest on the STAR Market, with 20.8 billion for production line upgrades and 12.2 billion for R&D. After turning profitable in 2024, earnings surged; Q1 2026 net profit exceeded double the full-year 2025, with NAND gross margin at 78.73%, ranking third globally.
Bubble analysis
This news involves a massive IPO by China's memory chip giant YMTC, aiming to raise 33 billion yuan, the largest on the STAR Market. It reflects China's investment boom in AI-related hardware like memory chips, potentially inflating the global AI bubble as funds pour into semiconductors while AI revenues are not yet fully realized.
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