YMTC Set to Grow Revenue Six Times Faster Than Peers Ahead of IPO

Yangtze Memory Technologies Corporation’s server-related revenue could rise from effectively zero in 2024 to nearly 39 per cent of its total revenue by 2028, Counterpoint Research said.

The projection comes as China’s leading flash-memory maker expands into server-related business ahead of a planned initial public offering.

Counterpoint said YMTC is set to grow revenue six times faster than its industry peers this year.

The company is betting on enterprise solid-state drives and AI infrastructure to support its next phase of growth.

Server business becomes a larger revenue driver

YMTC’s server-related revenue was effectively zero in 2024, highlighting the scale of the expansion projected by the market intelligence firm.

By 2028, that business could account for nearly 39 per cent of YMTC’s revenue, according to Counterpoint Research.

Counterpoint Research described YMTC as China’s leading flash-memory maker in its assessment of the company’s growth outlook.

YMTC’s revenue grew 40 per cent year on year to 63 billion yuan in 2025, according to the company’s prospectus.

IPO plans add urgency to expansion

The growth push is taking place as YMTC’s parent, CCSH Corporation, seeks to raise 33 billion yuan (US$4.9 billion) through a listing on Shanghai’s Star Market.

The proposed listing gives added context to the company’s effort to build a server-related business before the planned IPO.

The revenue forecast, the expansion into enterprise SSDs and AI infrastructure, and the prospectus figures together outline the growth case presented for YMTC ahead of the listing.

Source: South China Morning Post