CCSH Corporation seeks 4.9 billion USD Shanghai IPO to expand NAND Flash capacity

CCSH Corporation, the parent company of NAND Flash manufacturer YMTC, has officially applied to list on the Shanghai Stock Exchange's STAR Market. The company aims to raise approximately 33 billion yuan (about 4.9 billion USD) through the IPO.

Driven by surging demand for AI data centers, YMTC has experienced a significant financial turnaround. In the first quarter of 2026, the company reported revenue of 47 billion yuan, nearly five times its previous year's performance, with net profits reaching 33.38 billion yuan. According to TrendForce, YMTC has become the third-largest NAND supplier globally and the largest in China by both sales and shipment volume.

The proceeds from the IPO are intended to fund the expansion of advanced wafer fabrication plants and research and development for next-generation NAND flash architectures. Despite this growth, the company noted risks regarding geopolitical tensions, export controls, and supply chain disruptions. YMTC has previously been subject to US Department of Commerce entity list restrictions and US Department of Defense designations.