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Core Viewpoint - The establishment of Changsheng Phase III (Wuhan) Integrated Circuit Co., Ltd. aims to strengthen the position of Yangtze Memory Technologies Co., Ltd. (YMTC) in the integrated circuit industry, with a registered capital of 20.72 billion RMB [2][7]. Group 1: Company Information - Changsheng Phase III is co-owned by Yangtze Memory Technologies with a 50.19% stake and Hubei Changsheng Phase III Investment Development Co., Ltd. with a 49.81% stake, the latter being a state-owned enterprise [4][6]. - The company was officially registered on September 5, 2025, and is located in Wuhan, Hubei Province [5][6]. - The business scope includes integrated circuit manufacturing, sales, design, and related technical services [5]. Group 2: Industry Context - Yangtze Memory Technologies has made significant achievements in the semiconductor integrated circuit field since its establishment in July 2016, focusing on 3D NAND flash memory and storage solutions [6]. - The company has diversified its product offerings, including 3D NAND flash, embedded storage, mobile hard drives, and solid-state drives, and launched its retail storage brand "Zhita" in 2021 [6]. - The successful development of its third-generation TLC/QLC products in April 2020, particularly the X2-6070 model, has garnered wide market recognition due to its high I/O speed and storage density [6].