A valuation of 160 billion! The shareholding reform of Changcun Group has come to an end
On September 25th, the establishment meeting of the joint-stock company of Yangtze Memory Technologies Co., Ltd. (hereinafter referred to as "Yangtze Memory") was held, marking the official conclusion of the company's half-year-long shareholding system reform. The core breakthrough of this reform lies in the market-oriented upgrade of its governance structure - by electing the first board of directors, a decision-making mechanism suitable for large-scale industrial operations has been established, laying a solid institutional foundation for its transformation from a "technology research and development enterprise" to a "global industrial platform". Please provide the text you would like translated.
According to industry monitoring data, since the second quarter of 2025, international original manufacturers such as Micron have tilted their production capacity towards DDR5 and HBM, resulting in an expanded supply gap of mature process memory chips and pushing the price of DDR4 to increase by 30% in a single quarter. At this time, Yangtze Memory Technologies Co., Ltd. (YMTC) completed its shareholding reform, undoubtedly injecting institutional momentum to seize the window period of domestic substitution. Please provide the text you would like translated.
The capital operations carried out simultaneously during the shareholding reform process demonstrate the resource integration wisdom of the leading domestic storage company. Its financing path clearly shows the dual-wheel drive characteristics of "strategic investment attraction + core binding".
In April 2025, 15 financial and industrial institutions, including ABC Investment and CCB Investment, jointly injected capital. Among them, Quanhong Investment, a subsidiary of Yangyuan Beverage, acquired 0.99% equity with 1.6 billion yuan. Based on this, the group's valuation at that time was estimated to have reached 161.6 billion yuan. The involvement of the five major bank-affiliated capital not only provided long-term low-cost funds but also established a financial service network covering the entire industrial chain. In July, six new "Smart Core Plan" equity holding platforms were added, deeply binding the core technical team with the long-term development of the enterprise.
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