YMTC Aims to Overtake Samsung and SK hynix to Become No. 1 Globally by the End of Next Year

[Financial News] Chinese semiconductor company Yangtze Memory Technologies Co., Ltd. (YMTC) has set an ambitious goal of overtaking Samsung Electronics and SK hynix to become the world's No. 1 NAND flash memory maker by the end of next year.
According to the Financial Times and others, YMTC, which is currently the world's No. 3 NAND flash memory maker, reportedly told investors of this ambition while preparing for a large-scale Initial Public Offering (IPO).
Analysts say Chinese companies have been rapidly narrowing the technology gap in memory chips, where process optimization matters more, while U.S. sanctions on Chinese semiconductors have focused on restricting advanced equipment.
Through the listing, YMTC plans to raise about 6.9 trillion won and channel the massive funds into upgrading production facilities and research and development. The company is already showing sharp growth, with first-quarter results this year exceeding twice its full-year performance last year, and its post-listing valuation is expected to top 200 trillion won.
Market experts are concerned that "the aggressive expansion of production facilities in China's memory chip industry could fuel a future global semiconductor supply glut and drive down prices." If the flood of Chinese supply materializes, the global semiconductor market, which has been enjoying a boom on the back of the artificial intelligence (AI) craze, is likely to face major turbulence.
[email protected] Hong Chaewan Reporter