Yangtze Memory Technologies

Yangtze Memory Technologies Corp (YMTC) is a Chinese semiconductor manufacturer based in Wuhan, Hubei province, that designs and produces 3D NAND flash memory chips for enterprise and consumer storage. Founded in July 2016 by Tsinghua Unigroup together with China's National Integrated Circuit Industry Investment Fund and Hubei provincial government-backed investors, the company was built around a single Wuhan fabrication complex originally capitalized at roughly $24 billion. YMTC's proprietary Xtacking architecture, which bonds separately manufactured memory-cell and logic wafers together, has let it reach very high NAND layer counts; the company shipped 232-layer 3D NAND in 2023 and has continued to push layer counts higher since. The US government placed YMTC on the Commerce Department's Entity List in December 2022, restricting its access to US chipmaking technology, and added it to the Pentagon's Section 1260H list of Chinese military-linked companies in June 2026. Despite the trade restrictions, YMTC has continued to raise state-backed capital, and its parent company filed in August 2026 to raise 33 billion yuan (about $4.9 billion) in an initial public offering on Shanghai's STAR Market.