On September 3, the review status of the initial public offering (IPO) of Yangtze Memory Technologies Holdings Co., Ltd. on the Science and Technology Innovation Board was updated to “Inquiry Received,” marking its entry into the listing review process at the Shanghai Stock Exchange. The company will now face inquiries concerning information disclosure, attributes of technological innovation, and other pertinent areas. As China’s largest manufacturer of 3D NAND flash memory and the sole original equipment manufacturer in this field, YMTC has independently developed the Xtacking architecture. It operates as an integrated memory IDM enterprise, covering chip design, manufacturing, as well as packaging and testing. According to its prospectus, YMTC reported an operating revenue of RMB 47.042 billion and a net profit of RMB 33.379 billion for the first quarter of 2026, showcasing a swift enhancement in profitability. Its NAND Flash products rank third globally and first in China, in terms of both sales revenue and shipment volume.