- Companies
- Yangtze Memory Technologies
Yangtze Memory Technologies Valuation, Funding & Investors
Yangtze Memory Technologies is valued at $23B as of December 2023.
Last Yangtze Memory Technologies valuation
$23B
Undisclosed stage · Dec 2023
Last Yangtze Memory Technologies funding round
$224M
Undisclosed stage · Dec 2023
Cumulative funding Yangtze Memory Technologies raised
$7.3B
across 2 funding rounds
Key investors in Yangtze Memory Technologies
China Integrated Circuit Industry Investment Fund (CICF)
Changjiang Industrial Investment Group
Hubei Changsheng Development
Wuhu Wenming Quanhong Investment Management
About Yangtze Memory Technologies
Yangtze Memory Technologies is a Wuhan-headquartered integrated device manufacturer of 3D NAND flash memory. Established in 2016, it produces Xtacking architecture chips for smartphones, data centers, and SSDs, with R&D centers in Shanghai, Beijing, Silicon Valley, and Tokyo. Backed by Tsinghua Unigroup, it operates a massive fab in Wuhan for global supply.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$23B (Dec 2023)
Yangtze Memory Technologies Valuation
Yangtze Memory Technologies is currently valued at $23B, based on its undisclosed-stage round in December 2023.
The $224M round was led by Wuhu Wenming Quanhong Investment Management.
Yangtze Memory Technologies valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Dec 2023 | Undisclosed stage | $23B |
Yangtze Memory Technologies Funding History
Yangtze Memory Technologies has raised a total of $7.3B across 2 funding rounds.
Yangtze Memory Technologies' first fundraising round was a $7.1B undisclosed-stage round in March 2023. The most recent completed round was a $224M undisclosed-stage round in December 2023.
Yangtze Memory Technologies funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2023 | Undisclosed stage | Wuhu Wenming Quanhong Investment Management (lead) | $224M | $23B | Yangtze Memory Technologies Co. (YMTC) is China's leading NAND flash memory chipmaker, founded in 2016 and based in Wuhan. The company specializes in designing and manufacturing 3D NAND flash memory chips, positioning itself as China's sole participant in the global NAND memory market and a critical component of the country's semiconductor supply chain independence strategy. YMTC develops advanced memory technologies including fourth-generation and fifth-generation 3D TLC NAND flash with increasingly higher layer counts. In December 2023, Hebei Yangyuan Zhihui Beverage Co. invested 1.6 billion yuan (approximately US$219 million) through its subsidiary Wuhu Wenming Quanhong Investment Management to subscribe to YMTC's new registered capital, resulting in a 0.99 percent holding. This investment, announced via Shanghai Stock Exchange filing in January 2024, valued YMTC at 161 billion yuan (US$22.1 billion). The deal was initially kept confidential due to involvement of commercial secrets. Following this investment, Yangyuan became the eighth-largest shareholder, while seven state-owned organizations held the majority stake, including Hubei Changsheng Development (26.9 percent) and Wuhan Xinfei Technology Investment backed by China's Big Fund (25.7 percent). Financial disclosures accompanying the investment revealed mixed performance: YMTC reported a loss of 84 million yuan during the first nine months of 2024, reversing a profit of 531 million yuan for the full year 2023. Net assets stood at 134.7 billion yuan at the end of September 2024, up from 132.6 billion yuan at the end of 2023. The company continued to operate under substantial state support, with multiple government-backed investment vehicles maintaining controlling stakes to advance China's domestic semiconductor capabilities. |
| Mar 2023 | Undisclosed stage | China Integrated Circuit Industry Investment Fund (CICF); Hubei Changsheng Development; Changjiang Industrial Investment Group | $7.1B | - | Yangtze Memory Technologies Co (YMTC) is a Chinese semiconductor company founded in July 2016 that designs and manufactures NAND flash memory chips and solid-state drives for mobile, consumer electronics, data center, and enterprise applications. The company developed the proprietary Xtacking architecture and operates as part of China's broader strategy to build domestic semiconductor capabilities. In early 2023 (around March), YMTC received a $7.1 billion (49 billion yuan) capital injection from three state-backed investors: the China Integrated Circuit Industry Investment Fund (also known as the Big Fund, contributing approximately $1.9 billion), Changjiang Industry Investment Group, and Hubei Changsheng Development. This injection doubled YMTC's registered capital to over 105 billion yuan. The investment came as the company faced significant challenges, including placement on a U.S. export control list in December 2022, which restricted access to leading-edge chip manufacturing equipment, and a broader oversupply in the memory sector that led YMTC to implement workforce reductions of 10 percent in January 2023. Despite these headwinds, YMTC continued to receive substantial state support as part of China's effort to develop independent semiconductor production capabilities amid U.S.-China technology tensions. |
Who has invested in Yangtze Memory Technologies?
4 investors have backed Yangtze Memory Technologies across its funding rounds, including China Integrated Circuit Industry Investment Fund (CICF), Changjiang Industrial Investment Group, Hubei Changsheng Development and Wuhu Wenming Quanhong Investment Management.
Lead investors include Wuhu Wenming Quanhong Investment Management.
Yangtze Memory Technologies Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Mar 2023 | ||
| 1 | Lead | Dec 2023 | ||
This data is available for Pro users. Sign up to see all 4 Yangtze Memory Technologies investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialYangtze Memory Technologies Competitors
Yangtze Memory Technologies competitors include listed companies like Longsys, Nan Ya Printed Circuit, Accelink and Aspeed Technology, and private ones like Etched and UNISOC.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $3.4B | $355M | $22B | 3.3x | ||
| Publicly listed | $1.3B | $285M | $22B | 12.6x | ||
| Publicly listed | $1.8B | $213M | $24B | 9.3x | ||
| Publicly listed | $285M | $158M | $24B | 49.0x | ||
| Private | - | - | $21B | - | ||
| Private | - | - | $9.1B | - |
Yangtze Memory Technologies Public Comps
Yangtze Memory Technologies is still privately-owned, but its public comps include Longsys, HKC Corp, VAT Group, Nan Ya Printed Circuit, Accelink, Aspeed Technology, TD Synnex, Winbond, Tower Semiconductor and DapuStor.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $3.4B | $355M | 7.1x | 3.3x | 68.3x | 8.3x | |||
| $6.1B | $1.7B | 4.2x | - | 15.4x | - | |||
| $1.3B | $375M | 16.9x | 14.2x | 58.7x | 43.8x | |||
| $1.3B | $285M | 16.9x | 12.6x | 74.6x | 38.7x | |||
| $1.8B | $213M | 12.8x | 9.3x | 107.1x | 69.5x | |||
| $285M | $158M | 82.7x | 49.0x | 149.1x | 87.4x | |||
| $63B | $1.4B | 0.4x | 0.3x | 17.5x | 10.3x | |||
| $2.8B | $575M | 8.7x | 3.5x | 42.7x | 6.5x | |||
This data is available for Pro users. Sign up to see all Yangtze Memory Technologies competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Yangtze Memory Technologies
| When was Yangtze Memory Technologies founded? | Yangtze Memory Technologies was founded in 2016. |
| Where is Yangtze Memory Technologies headquartered? | Yangtze Memory Technologies is headquartered in Wuhan, China. |
| Is Yangtze Memory Technologies publicly listed? | No, Yangtze Memory Technologies is a private, VC-backed company. |
| What is Yangtze Memory Technologies' valuation? | Yangtze Memory Technologies was last valued at $23B in its undisclosed-stage round in December 2023. |
| How much funding has Yangtze Memory Technologies raised? | Yangtze Memory Technologies has raised $7.3B across 2 funding rounds. |
| What was Yangtze Memory Technologies' last funding round? | Yangtze Memory Technologies' last funding round was a $224M undisclosed-stage round in December 2023, led by Wuhu Wenming Quanhong Investment Management. |
| Who are Yangtze Memory Technologies' investors? | Yangtze Memory Technologies' investors include China Integrated Circuit Industry Investment Fund (CICF), Wuhu Wenming Quanhong Investment Management, Hubei Changsheng Development and Changjiang Industrial Investment Group. |
| Which companies are comparable to Yangtze Memory Technologies? | Companies comparable to Yangtze Memory Technologies include Longsys, Nan Ya Printed Circuit, Accelink, Aspeed Technology, Etched and UNISOC. |
See companies similar to Yangtze Memory Technologies
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




