Advanced Micro-Fabrication Equipment Inc. China (688012) has reported a substantial surge in financial performance, signaling that the localization of semiconductor equipment manufacturing is accelerating across the industry. According to the company's announcement, first-half 2026 revenue reached 6.691 billion yuan, up 34.89% year-on-year, while net profit attributable to shareholders jumped 300.22% to 2.825 billion yuan. Concurrently, the firm unveiled plans to inject an additional 3.5 billion yuan into the Lingang Special Area to expand its industrialization base, reinforcing capacity for its core product lines.
The sharp rise in net profit was partly boosted by non-recurring gains, yet the 108.36% growth in net profit excluding such items still underscores a tangible improvement in core operations. The weighted average return on equity climbed dramatically from 3.49% in the same period last year to 11.56%, with total assets expanding by more than a quarter over the same timeframe.
Key Metrics Hit New Peaks Amid Robust Growth
During the first six months of 2026, Advanced Micro-Fabrication Equipment Inc. China posted revenue of 6.691 billion yuan, a 34.89% increase, alongside attributable net profit of 2.825 billion yuan, up 300.22%, and total profit of 2.879 billion yuan, soaring 301.05%. After stripping out non-recurring items, attributable net profit came in at 1.123 billion yuan, reflecting a 108.36% rise—a notable gap from the headline figure that highlights the significant contribution of one-off gains during the period.
Basic earnings per share reached 4.33 yuan, climbing 283.19% year-on-year, while net cash flow from operating activities improved to 685 million yuan, up 237.39%, indicating better cash generation quality. As of the reporting period's end, total assets stood at 37.737 billion yuan, up 26.44% from the start of the year, and net assets attributable to shareholders reached 30.038 billion yuan, a 32.36% increase.
R&D Spending Remains Elevated, Nearing 30% of Revenue
Even with rapid top-line expansion, Advanced Micro-Fabrication Equipment Inc. China has sustained heavy investment in research and development. R&D expenditure accounted for 30.51% of revenue during the period, up 0.44 percentage points from a year earlier, reflecting a strategy centered on reinforcing technological barriers. The company's core offerings span critical semiconductor manufacturing segments, including etching equipment, inspection and metrology tools, and thin-film deposition systems—all of which are the focus of the newly planned industrialization base.
By the end of the period, the company recorded 89,848 shareholders. Among the top ten, Shanghai Venture Capital Co., Ltd. held 13.64% as the largest stakeholder, followed by Hong Kong Securities Clearing Company Ltd. with 13.23%, and Xunxin (Shanghai) Investment Co., Ltd. at 8.26%. The National Integrated Circuit Industry Investment Fund Phase II held 2.97%. Founder Yin Zhiyao personally owned 0.63% of shares, ranking among the top ten. Overall, state-backed capital and industry funds maintain a substantial combined stake, keeping the ownership structure stable.
3.5 Billion Yuan Committed to Lingang Phase II Expansion
In a separate announcement, Advanced Micro-Fabrication Equipment Inc. China revealed that its wholly-owned subsidiary, AMEC Lingang, plans to build the "AMEC Lingang Industrialization Base (Phase II)" in the Lingang Special Area, with a planned investment of 3.5 billion yuan. The project is designed as an integrated hub covering R&D, production, and sales, concentrating on the company's competitive product lines such as etching, inspection, and deposition equipment. This expansion move underscores a decisive step to scale up capacity and bolster market supply capabilities against the backdrop of strong earnings momentum.
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