On the evening of January 8, the leading semiconductor equipment company with a market capitalization of 200 billion yuan issued an important announcement.
Advanced Micro-Fabrication Equipment Inc. China announced that it recently received a "Letter of Intent for Share Reduction" from its Chairman and General Manager Yin Zhiyao. As he has restored his citizenship from foreign to Chinese and needs to handle relevant tax matters in accordance with the law, he plans to reduce his holdings by no more than 290,000 shares, accounting for 0.046% of the company's total share capital.
According to the disclosure, as of the announcement date, Yin Zhiyao directly held 4.1594 million shares of Advanced Micro-Fabrication Equipment Inc. China, representing 0.664% of the total share capital, all of which were acquired before the company's initial public offering. The share reduction plan will be implemented within three months starting 15 trading days after this announcement's disclosure date, through methods such as centralized bidding, while complying with all legal and regulatory requirements for share reductions.
As of the market close on January 9, Advanced Micro-Fabrication Equipment Inc. China's stock price was 336.68 yuan per share, with a total market capitalization of 210.8 billion yuan. The market value of the shares Yin Zhiyao intends to sell is approximately 97.64 million yuan.
The company's 2022 annual report still clearly indicated Yin Zhiyao as a U.S. citizen, while its 2023 annual report did not disclose nationality information. It was not until the 2024 annual report that it was formally confirmed he had restored his Chinese citizenship.
Public information shows that Yin Zhiyao, born in 1944, holds Chinese citizenship, with a bachelor's degree from the University of Science and Technology of China and a Ph.D. from the University of California, Los Angeles. From 1984 to 1986, he worked at Intel's Central Technology Development Division as a Process Engineer; from 1986 to 1991, he was employed at Lam Research, serving successively as Senior Engineer and Senior Manager in the R&D Department; from 1991 to 2004, he worked at Applied Materials, holding positions including Chief Technology Officer of the Plasma Etch Equipment Product Division, Corporate Vice President and General Manager of the Plasma Etch Business Group, and Chief Technology Officer of the Asia Division.
According to reports, in 2004, instead of choosing retirement and a leisurely life at age 60, Yin Zhiyao led a group of technical elites working in Silicon Valley back to China to start a business. From 2004 to the present, Yin Zhiyao has served as Chairman, General Manager, and Core Technical Personnel of Advanced Micro-Fabrication Equipment Inc. China. His total pre-tax remuneration from the company in 2024 was 14.8514 million yuan.
As one of the first "hard tech" companies listed on the STAR Market, Advanced Micro-Fabrication Equipment Inc. China has achieved an average annual revenue growth of over 35% for 14 consecutive years. The company has developed 20 types of etching equipment that can meet more than 95% of etching application requirements. The company's latest disclosed third-quarter report shows that in the first three quarters of 2025, the company maintained strong development momentum, achieving operating revenue of 8.063 billion yuan, a year-on-year increase of 46.40%, and a net profit attributable to shareholders of the listed company of 1.211 billion yuan, a year-on-year increase of 32.66%.
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