Key Points
- AMEC’s revenue rose by 45% due to increased sales of etching equipment, but profits were lower due to R&D spending.
- ACM Research expects revenue growth of up to 51%, benefiting from strong domestic demand.
- Naura projects revenue growth of up to 43.93%, driven by widespread adoption of its plasma-based technologies.
- The companies’ competitive pricing and lack of foreign restrictions have fueled their growth.
Leading Chinese semiconductor equipment manufacturers—Advanced Micro-Fabrication Equipment (AMEC), Naura Technologies, and ACM Research—have announced their preliminary 2024 financial results. These results showcase impressive revenue growth, increased R&D investments, and production capabilities. TrendForce reported these results, highlighting China’s growing demand for domestically developed chipmaking tools and the industry’s rapid progress in self-sufficiency.
AMEC, ACM, and Naura specialize in producing etching, chemical vapor deposition (CVD), and polishing equipment, catering to China’s expanding semiconductor manufacturing sector. Although their technology lags behind global giants such as Applied Materials, KLA, Lam Research, and Tokyo Electron, their cost-effectiveness and lack of export restrictions have boosted domestic sales, especially as China continues to build new semiconductor fabrication plants.
AMEC reported a 44.73% increase in revenue, reaching ¥9.065 billion ($1.244 billion) in 2024. Sales of etching equipment accounted for ¥7.276 billion ($999 million), marking a 54.71% rise year-over-year. However, net profits are projected to decline by up to 16.01% due to increased R&D spending and the absence of one-time equity gains. Despite this, adjusted net profits could rise by as much as 20.02%. AMEC plans to invest ¥3.05 billion to establish a new subsidiary in Chengdu to enhance research and production capabilities for CVD and ALD equipment.
ACM Research, a U.S.-based company with major operations in China, anticipates revenue growth of 44.02% to 51.22%, reaching up to ¥5.88 billion ($807.42 million). The growth is driven by strong domestic demand and a recovering global semiconductor market. Looking ahead, ACM expects its revenue to reach ¥6.5 billion ($892.56 million) – ¥7.1 billion ($974.87 million) by 2025.
Naura anticipates revenue of ¥27.6 billion ($3.79 billion) to ¥31.78 billion ($4.363 billion), a 25% to 43.93% increase. The company attributes its success to integrating advanced plasma and ALD technologies into production lines, which has resulted in widespread adoption.
