China's top NAND maker YMTC pauses $4.9B Shanghai IPO as CSRC slows chip and AI listings

YMTC parent CCSH, which filed in August for a 33B yuan (~$4.9B) listing on Shanghai's STAR market, has paused the IPO 'due to various factors,' per an internal memo seen by Reuters. The China Securities Regulatory Commission has quietly told banks to slow AI and chip IPOs after October's 8.5% CSI 300 drop and a 40% slide in the STAR50 chip-AI index from its July peak; YMTC now targets early 2027.