Tech Brief (Aug. 21): Memory-Chip Maker YMTC Moves Closer to Shanghai IPO

Published: Aug. 21, 2026 3:51 p.m. GMT+8

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YMTC moves closer to Shanghai IPO

Chinese memory-chip manufacturer Yangtze Memory Technologies Co. Ltd. (YMTC) has completed its pre-IPO tutoring work, clearing a crucial hurdle to listing on Shanghai’s STAR Market. Information published Wednesday on the China Securities Regulatory Commission’s website showed that Citic Securities and China Securities acted as YMTC’s tutoring brokerages, responsible for conducting due diligence, performing financial audits, resolving pre-listing compliance issues and preparing listing materials.

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YMTC nears Shanghai IPO after completing pre-IPO tutoring.
Unitree shares fell 16% after founder warned humanoid robots not ready for factories.
Game Science debuted Black Myth: Zhong Kui demo; first game sold 30 million. MiniMax launched AI-native platform.

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Who’s Who

Yangtze Memory Technologies Co., Ltd.: Yangtze Memory Technologies Co., Ltd. (YMTC) completed its pre-IPO tutoring work, clearing a hurdle for listing on Shanghai's STAR Market. Citic Securities and China Securities acted as tutoring brokerages, handling due diligence and listing preparation.

Citic Securities: According to the article, Citic Securities (中信证券) acted as one of YMTC's tutoring brokerages for its Shanghai STAR Market IPO, responsible for conducting due diligence, performing financial audits, resolving pre-listing compliance issues, and preparing listing materials.

China Securities: In the article, China Securities served as a tutoring brokerage for YMTC's Shanghai STAR Market IPO, alongside Citic Securities. Its role included conducting due diligence, financial audits, resolving compliance issues, and preparing listing materials.

Unitree Robotics: Unitree Robotics shares plunged 16% after founder Wang Xingxing warned its humanoid robots are not ready for large-scale factory use due to lower efficiency and lack of generalization ability.

Game Science: Game Science released a 15-minute gameplay demo for Black Myth: Zhong Kui, the second installment in the series. The first game, Black Myth: Wukong, sold over 10 million copies in three days after its August 2024 launch and over 30 million in eight months.

MiniMax Group Inc.: MiniMax Group Inc. launched MiniMax Design, a new-generation AI-native creation platform. It understands user objectives, breaks down tasks, and calls upon models and skills to handle material processing, generation, editing, and delivery. The multimodal video model H3 provides the capability foundation, making the platform suitable for video editing and scenarios needing comprehension, control, and modification.

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What Happened When

Wednesday, August 19, 2026：: YMTC completed its pre-IPO tutoring work, clearing a crucial hurdle to listing on Shanghai's STAR Market.

Thursday, August 20, 2026：: Unitree Robotics shares plunged 16% on their second day of trading after founder Wang Xingxing warned that humanoid robots are not yet ready for large-scale factory deployment at the World Robot Conference.

Thursday, August 20, 2026：: Game Science released a 15-minute gameplay demo for Black Myth: Zhong Kui, the second installment in its Black Myth series, revealing the protagonist's combat and story clips for the first time.

Thursday, August 20, 2026：: MiniMax Group Inc. launched MiniMax Design, a new-generation AI-native creation platform, with its multimodal video model H3 providing the capability foundation.

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