Yangtze Memory Technologies' listing plan is steadily advancing after a brief suspension setback, with the company aiming to land on the Shanghai Stock Exchange's STAR Market as early as the first quarter of 2027. Market rumors had previously suggested that its IPO was delayed due to tighter regulation. Investment banking sources indicated that the current IPO review process is not a blanket suspension but rather a moderate slowing of pace to match market capacity; the listing plan also helps alleviate market concerns about a temporary slowdown in mainland new share issuance. On fundamentals, Yangtze Memory Technologies reported revenue of 47.042 billion yuan in the first quarter of 2026, with net profit attributable to shareholders of 33.379 billion yuan—more than double its full-year net profit for 2025 in a single quarter. In terms of industry position, its shipments accounted for a 14% share of the global NAND market in the second quarter of 2026, firmly ranking third worldwide. On the technology and capacity front, the company has achieved mass production of 294-layer 3D NAND and plans to advance mass production of 300-layer products in 2026. Its two existing Wuhan wafer fabs have a combined monthly capacity of approximately 200,000 wafers, and equipment installation has begun at its third-phase plant, which is expected to start production by the end of 2026, with a long-term target of 500,000 wafers per month. Its parent company, Changcun Holdings, plans to raise 33 billion yuan, to be invested in mass production line technology upgrades and R&D platform construction, respectively.