Yangtze Reminiscence Applied sciences Corp (YMTC), China's high reminiscence chip maker, has denied planning a secret IPO to reap the benefits of the chip-related inventory frenzy within the nation amid harder U.S. expertise sanctions.
Seen as China's greatest likelihood to compete in superior flash reminiscence chips towards world leaders Samsung Electronics and SK Hynix, YMTC issued an announcement on Sunday saying it “by no means supposed to proceed to a diverted citation”. The assertion adopted earlier experiences printed by native media.
The denial comes as Chinese language semiconductor firms have change into the brand new darlings of home traders, who view harder U.S. export restrictions on the nation's chip business as an impetus for extra improvement. native. Listed firms with potential enterprise ties or fairness relationships with high-profile gamers akin to YMTC and Huawei Applied sciences are sometimes wanted by Chinese language retail traders.
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YMTC, based mostly in Wuhan, the capital of Hubei province, additionally denied any reference to Shenzhen-listed Mason Expertise, named because the potential underground firm within the rumors, whose final controlling entity is the monitoring firm belongings owned by the state of Hubei. and Administration Fee. A subsidiary of Mason Expertise, Yangtze Mason Semiconductor, is engaged within the reminiscence chip enterprise, in keeping with its web site.
The emblem of Yangtze Reminiscence Applied sciences Corp (YMTC) is depicted on a smartphone display screen in entrance of its web site. Picture: Shutterstock Photos alt=The emblem of Yangtze Reminiscence Applied sciences Corp (YMTC) is pictured on a smartphone display screen in entrance of its web site. Picture: Shutterstock Photos>
After YMTC's refusal, shares of Mason Expertise fell 10 p.c to 14.04 yuan (US$1.93) on Monday.
Based in 2016, YMTC is a latecomer to the worldwide flash reminiscence sector, lengthy dominated by Samsung, SK Hynix and US firm Micron Expertise. Nonetheless, its efforts to meet up with established gamers have allowed the corporate to change into a logo of China's ambitions to realize self-reliance within the semiconductor sector. YMTC's 3D NAND chips are utilized in gadgets akin to Huawei's Pura 70 Extremely smartphone.
A teardown report launched by Canadian analysis agency TechInsights in September highlighted the corporate's progress in closing the hole with international leaders, because of its Xtacking 4.0 chip design structure and shut ties to home chip instrument producers akin to Superior Micro-Fabrication Gear and Naura Expertise Group. .
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