Changcun Holdings' Science and Technology Innovation Board IPO has been accepted as a world-class memory IDM company

The Zhitong Finance App learned that on August 21, Changjiang Storage Holdings Co., Ltd. (Changcun Holdings) changed the IPO review status of the Shanghai Stock Exchange Science and Technology Innovation Board to “accepted”. CITIC Securities and CITIC Construction Investment are their sponsors and plan to raise 33 billion yuan.

According to the prospectus, Changcun Holdings, founded in 2016, represents China as a world-class memory IDM company, creating the world's leading NAND Flash series products with a high number of layers, high storage density, and high I/O speed, which are widely used in enterprise servers, data centers, consumer electronics and other fields. Relying on China's huge application market and international layout, the company's shipments grew rapidly during the reporting period. According to TrendForce data, from January to March 2026, the company ranked third in the world and number one in China by sales amount and shipment volume.

The company has always insisted on original core technology research, leading China's 3D NAND technology to catch up with the international advanced level. The company launched Xtacking® 3.0 technology in 2022 and won the FMS “Most Innovative Storage Technology Award” at the Global Storage Industry Authoritative Summit, becoming one of the first companies in the world to launch 3D NAND Flash products with more than 200 layers, leading the world's advanced level of storage technology for the first time; iterating Xtacking® 4.0 technology in 2024, it won the FMS authoritative award the following year, reshaping the global 3D NAND technology development route; in 2025, it became one of the few leading international manufacturers in mainland China that reached patent cross-licensing Integrated circuit companies have a prominent technological influence.

During the reporting period, the company's main business revenue sources were mainly NAND Flash products. NAND Flash products are divided into storage chips, smart terminal products, and solid state drives according to the product form, and are mainly used in application scenarios such as data centers, enterprise servers, and consumer electronics. In addition, the company's subsidiary Hongmao Micro can provide chip packaging and testing solutions and memory package testing services.

After deducting the issuance fee, the funds raised in this offering will be used for the following projects:

On the financial side, in 2023, 2024, 2025, and January-March 2026, the company achieved operating income of approximately 18.744 billion yuan, 45.203 billion yuan, 63.185 billion yuan, and 47.042 billion yuan respectively; in the same period, net profit to mother was approximately 19,181 billion yuan, 6.771 billion yuan, 14.211 billion yuan, and 33.379 billion yuan, respectively.