YMTC: The Complete Guide

That may be changing. In May 2026 a holding company, 长江存储控股股份有限公司, entered IPO counselling with CITIC Securities, filed with the China Securities Regulatory Commission's Hubei bureau 10, and on 21 August 2026 the Shanghai Stock Exchange accepted a STAR Market listing application 6. A Chinese IPO prospectus would, for the first time, put audited financials, ownership, capacity and risk disclosures into a public filing. This page does not quote figures from that prospectus, because this check could not open the document itself — the figures circulating are media reports of it, and some look anomalous enough to warrant reading the original before repeating them.

YMTC's executives are known only from press releases in which they are quoted, and the list is thin and dated: Simon Yang as CEO in 2018 13, Cheng Weihua as Co-CTO in 2019 14, Thomas Chen as Executive Vice President in 2022 15, and Dr. Zongliang Huo as Chief Scientist and Titus Lo as SVP in 2025 16. There is no current officers list on ymtc.com, and this page does not name a chairman, because no company or regulatory source found in this check does.

The English-language newsroom is itself a data point: it holds nine items spanning 2018 to 2025, with a three-year gap between July 2022 and August 2025 17. The Chinese newsroom is considerably more active but is almost entirely consumer-SSD marketing 18.

The two threads are related in a way the dates make visible. The October 2022 US rule defines "advanced-node integrated circuits" to include "NOT AND (NAND) memory integrated circuits with 128 layers or more" 21 — a threshold YMTC had publicly crossed in April 2020 19. Two months after that rule, YMTC was on the Entity List 4. It has published no layer count since 22 5. This page does not assert that the second fact is caused by the first; it notes that YMTC published layer counts routinely up to 2020 and has not published one since, and leaves the reader to weigh that against the regulatory threshold being set at the number it had reached.

The consumer line is where YMTC publishes most. The Zhitai TiPlus7100 page carries a full specification table: 512GB to 4TB, M.2 2280, "PCIe™ Gen4 x4, NVMe™ 1.4" (NVMe 2.0 at 4TB), sequential read 7000MB/s, sequential write from 3600 to 6000MB/s, 4K random read 800K to 900K IOPS, MTBF of 150万小时, TBW from 300 to 2400, a five-year warranty, and NAND described as 长江存储新一代TLC闪存颗粒 on 晶栈®Xtacking® 3.0 2. That is a more complete specification than several Western makers publish for equivalent drives — the reticence is about the company and the fabs, not the products.

Versions are numbered and dated by YMTC itself: Xtacking 2.0 debuted at IC China in September 2019 17, 3.0 carries the X3 generation 15, and 4.0 won a "Most Innovative Technology Award in the 3D NAND Flash Memory category at the Future of Memory and Storage (FMS) 2025", where YMTC also described a "Super Contact" (SCT) architecture 16.

A deliberate omission on this page: Xtacking is conceptually close to the bonded-wafer approaches Kioxia and SanDisk call CBA, and readers will notice the resemblance. But YMTC's own material names only "side-by-side" and "CnA" as the prior alternatives and never mentions CBA, Kioxia or any competitor 3, and no official source found here compares them. So this page describes each company's architecture in its own words and does not assert that they are the same technique.

What is publicly documented about YMTC's expansion comes through the IPO process and provincial channels rather than from the company. A Yangtze Daily article on the counselling filing, reprinted on the Wuhan municipal portal, refers to 232-layer mass production and a 294-layer process breakthrough 12 — figures YMTC itself has never published 5. This page cites that as a government-hosted newspaper report, which is what it is: better than anonymous analysis, and not a company or regulatory disclosure.

Everything else circulating about YMTC's capacity — a third Wuhan fab, a 2027 start, wafers-per-month targets, global bit-share rankings — comes from press and analyst estimates that this check could not tie to any primary source. None of it appears on this page as fact. If the STAR Market prospectus becomes readable, capacity and site detail is exactly what it would settle 6.

The engineering claim Xtacking rests on is that separating the two wafers lets each be optimised independently — the logic on a process suited to logic, the array on one suited to memory — and that this is what buys the development-time and cycle-time gains YMTC quotes 3. It is the same underlying insight that Kioxia and SanDisk describe for CBA in their own words, and it is why bonded-wafer approaches have become the mainstream direction in NAND. YMTC got there early: Xtacking debuted in 2018 13, several years before the bonded generations its competitors now ship.

The "232-layer" figure attached to the X3-9070 across the industry is not a YMTC claim. The launch release and the product page both describe the part as Gen4 on Xtacking 3.0 and state no layer count anywhere 15 22. The 232 figure originates in teardown analysis and press reporting. The closest thing to an official Chinese reference is the Wuhan government portal's counselling report mentioning 232-layer mass production 12 — a newspaper article on a government site, not a disclosure. This page reports the number's provenance rather than the number, because on a page about a company this opaque, where a figure comes from is the more useful fact.

Nothing resembling contract or OEM NAND pricing is published by YMTC anywhere 1 5. In that respect it is no different from Samsung, SK hynix, Micron or Kioxia, none of which price chips publicly either — the memory industry sells on negotiated contracts throughout. The difference has been that the others publish audited revenue, so the aggregate is visible even when the unit price is not. YMTC published neither on its own site; its August 2026 IPO filing should change the revenue half of that, once the prospectus can be read 6.

There is a regulatory dimension here that the other makers do not face. US export controls define "advanced-node integrated circuits" to include NAND at "128 layers or more" 21, and Entity List placement means a licence requirement "For all items subject to the EAR" with a "Presumption of denial" 4. The practical effect is on what equipment YMTC can buy, which bears directly on how far it can push the density and process sophistication that an AI-oriented flash product would need. Whether YMTC is developing anything in this direction is not something this page can answer from any source found: the company has not said, and no filing or court document addresses it.

There is also a legislated future restriction on one class of buyer. The Senate letter records that "Section 5949 of the FY 2023 NDAA barred federal agencies from acquiring products that use CXMT and YMTC semiconductors beginning in December 2027" 23 — a procurement bar that reaches not just YMTC's direct sales but any product containing its chips. For a memory maker, whose output typically reaches end users inside someone else's device, that is a materially wider restriction than it first appears.

The second thing hidden in plain sight is who is doing the disclosing. On every other page in this section, the company is the primary source and governments are supplementary. Here it is inverted: YMTC's registered address, its corporate family, its ownership, its Japanese subsidiary and its regulatory status are all documented by the US Federal Register and the Department of Defense 4 11, while YMTC's own site carries none of it 1.

And YMTC is now using the US courts to contest exactly those documents — suing the Commerce Department and BIS over the Entity List 7, the Department of Defense over the 1260H designation 8, and Commerce again under the Freedom of Information Act 25. A company that publishes almost nothing about itself is litigating in an open docket system that publishes a great deal. Those filings may end up being the most detailed public account of YMTC that exists.

YMTC's public position is that this determination was wrongly made, and it is pursuing that in three separate actions: against Commerce, BIS, the End-User Review Committee and the Commerce Secretary over the listing itself 7; against the Department of Defense over the 1260H military-company designation 8; and a Freedom of Information Act suit against Commerce and BIS, presumably seeking the record behind the decision 25. It is separately in patent litigation with Micron, which it initiated in November 2023 and which remains stayed pending inter partes review 9 28; Micron's own declaratory action against YMTC was dismissed in March 2026 29.

The disclosure weakness compounds all of this. Where Micron's constraints can be read in a 10-K and Kioxia's in an annual securities report, YMTC's can only be read in the documents of the government restricting it — which is a poor basis for any reader trying to judge the company on its merits, and is a limitation of this page as much as of the company.

The absence is unsurprising in context. India's semiconductor incentive programme has been built in close alignment with the United States and its partners, and YMTC sits on both the US Entity List 4 and the Department of Defense's 1260H list 11. Of the memory makers covered in this section so far, Micron alone has manufacturing in India.

The litigation is the other open question, and its outcomes are genuinely consequential rather than procedural. A successful challenge to the Entity List placement would restore YMTC's access to US-origin equipment; an unsuccessful one leaves a "Presumption of denial" in place indefinitely 4 7. The 1260H challenge and the December 2027 procurement bar run on their own tracks 8 23.

This page will be more useful when the prospectus is readable, and it says so rather than filling the gap. Of everything covered here, the single document that would most improve it is one YMTC has now filed and this check could not open 6.