Advanced Micro-Fabrication Equipment Inc. China (688012.SH) has released its preliminary financial results for the year 2025. The company reported estimated annual revenue of approximately 123.85 billion yuan, representing an increase of about 33.19 billion yuan compared to 2024, which translates to a year-on-year growth of approximately 36.62%.
Research and development expenditure for the full year 2025 reached about 37.44 billion yuan, an increase of 12.91 billion yuan from the previous year, marking a significant rise of approximately 52.65%.
The company anticipates its net profit attributable to owners of the parent for 2025 to be around 2.111 billion yuan. This figure reflects an increase of approximately 496 million yuan compared to the legally disclosed data from the same period last year, equating to a year-on-year growth of about 30.69%.
Furthermore, the estimated net profit attributable to owners of the parent, after deducting non-recurring gains and losses, is projected to be about 1.55 billion yuan for 2025. This represents an increase of roughly 162 million yuan compared to the prior year's statutory data, indicating a growth of approximately 11.64%.
The announcement highlighted a significant increase in shipments of the company's high-end products designed for critical etching processes in advanced logic and memory device manufacturing. Stable and reliable mass production has been achieved for mid-stage critical etching processes in advanced logic devices and for ultra-high aspect ratio etching processes in advanced memory devices.
Specifically, for Capacitively Coupled Plasma (CCP) systems, the company's single-reactor dielectric etching products for critical applications maintained rapid growth and can comprehensively meet various ultra-high aspect ratio requirements in memory etching applications. Regarding Inductively Coupled Plasma (ICP) systems, substantial progress has been made in the development of ICP etching equipment and chemical vapor etching equipment for next-generation logic and memory customers, with processing precision and repeatability now reaching the single-atom level.
By the end of 2025, the company had cumulatively installed over 7,800 reaction chambers in mass production across more than 170 customer chip and LED production lines worldwide. This includes a cumulative global shipment of over 6,800 etching equipment reaction chambers.
The company's Chemical Deposition Products (CDP) division has successfully introduced more than ten types of conductor and dielectric film equipment, such as LPCVD and ALD systems, developed for advanced memory and logic devices into the market. The performance of these film equipment models is fully at the internationally leading level, and their market coverage is continuously expanding.
The company's Epitaxy (EPI) equipment R&D team has developed an innovative platform with proprietary intellectual property. Currently, reduced-pressure epitaxy equipment has been shipped to mature-node customers for mass production verification and is also being delivered to advanced-node customers for validation, with some advanced processes already entering the mass production verification stage. A new generation of high-selectivity pre-cleaning chambers, meeting the demands of advanced processes, is undergoing mass production verification at customer sites. Atmospheric pressure epitaxy equipment development has been completed and has now entered the process validation phase.
In the broader semiconductor equipment sector, the company is developing more compound semiconductor epitaxy equipment, which have been progressively shipped to customers for verification.
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