Tech Brief (May 20): Chinese Chipmaker YMTC Moves Toward IPO

Published: May. 20, 2026 5:17 p.m. GMT+8

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Memory chip maker YMTC moves toward IPO

Yangtze Memory Technologies Co. Ltd. (YMTC) has formally launched its initial public offering process after China’s securities regulator accepted the company’s pre-listing tutoring application Tuesday. The domestic listing of China’s leading NAND flash memory maker is expected to command a massive valuation, with market estimates placing the company’s worth at between 2 trillion yuan ($277 billion) and 3 trillion yuan. The anticipated IPO of the national memory-chip champion highlights Beijing’s efforts to finance semiconductor self-sufficiency as domestic technology firms expand rapidly despite strict U.S. export controls.

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YMTC files for IPO with valuation of 2-3 trillion yuan, highlighting China's semiconductor self-sufficiency push.
Bilibili swings to profit; adjusted net income up 62% on AI-driven ad growth, revenue 7.47 billion yuan.
Deep Robotics seeks $370M Shanghai IPO after turning profitable; Tencent launches DataBuddy AI agent.

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Who’s Who

Yangtze Memory Technologies Co. Ltd.: Yangtze Memory Technologies Co. Ltd. (YMTC) has launched its IPO after China’s securities regulator accepted its pre-listing application. The NAND flash memory maker is valued at 2-3 trillion yuan ($277-416 billion), highlighting Beijing’s push for semiconductor self-sufficiency amid U.S. export controls.

Bilibili Inc.: Bilibili Inc. reported a first-quarter profit swing, with adjusted net profit up 62% year-on-year. Revenue rose 7% to 7.47 billion yuan ($1.09 billion). Net income of 202 million yuan reversed a prior loss. Gross margin hit 37.1%, aided by AI-driven advertising growth, which accounted for 35% of revenue. AI-related content viewing surged 44%.

Deep Robotics: Deep Robotics, a Hangzhou-based robot dog maker, is seeking a Shanghai IPO to raise 2.5 billion yuan ($367.6 million). The company turned profitable in 2025 after net losses in 2023 and 2024, with revenue more than tripling. It focuses on embodied AI and industrial automation.

Tencent Holdings Limited: Tencent Holdings Limited, through Tencent Cloud, launched DataBuddy on Tuesday, a big data AI agent workstation. It enables users to perform data integration, development, governance, and analysis using natural language dialogue, eliminating the need to switch between multiple interfaces.

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