Chinese memory firms edge closer to challenging Korea's chip giants

China's two leading memory-chip makers are moving closer to public listings as both companies rapidly expand production and gain market share, raising fresh questions about whether Samsung Electronics and SK hynix could face a new competitive challenge from China's growing semiconductor industry.

ChangXin Memory Technologies (CXMT), China's leading dynamic random-access memory (DRAM) producer, won approval last week for its nearly 30-billion-yuan ($4.4 billion) initial public offering (IPO) in Shanghai, while NAND flash champion Yangtze Memory Technologies Corp. (YMTC) has begun IPO preparations and could formally submit a listing application as early as June, with proceeds directed at equipment and research and development.

The twin listing efforts come as both companies benefit from a global memory upcycle driven by artificial intelligence (AI) demand.

More importantly, analysts say they reflect a broader shift in China's semiconductor industry, where memory makers are evolving from technology catch-up players into increasingly credible competitors in global markets.

The IPO approval