It is reported that Changxin Storage, China's largest DRAM manufacturer, intends to IPO, with a valuation of no less than 100 billion yuan.

CTOnews.com, April 20 (Xinhua)-- Chinese chipmaker Changxin Storage plans to value no less than 100 billion yuan at Science and Technology Innovation Board IPO this year, according to people familiar with the matter.

According to reports, Changxin Storage is selecting underwriters, and the size of the IPO has not yet been finalized. As of CTOnews.com, a representative of Changxin Storage declined to comment on the IPO plan, saying the company is currently focused on R & D and the development of its core business.

Changxin Storage is currently the largest DRAM manufacturer in China, mainly producing DRAM chips, which are used in devices such as personal computers, servers and smartphones. Changxin Storage's competitors include leading global memory chip manufacturers such as Samsung Electronics, SK Hynix and Micron Technology. Changxin Storage IPO will provide it with more funds to expand production capacity and research and development investment, in order to narrow the technology gap with international giants.

China has been trying to develop its own semiconductor industry to reduce its dependence on imported chips. In recent years, China's demand for chip self-sufficiency has become more urgent because of Sino-US trade frictions and US sanctions on Chinese technology companies such as Huawei. Changxin's listing will help boost China's status and confidence in memory chips.