On January 23, Advanced Micro‑Fabrication Equipment Inc. (AMEC) issued its 2025 earnings forecast, delivering an impressive performance. Preliminary calculations by the finance department show substantial annual growth, with both revenue and net profit reaching new highs, reflecting strong business resilience and core competitiveness. As a leading domestic semiconductor equipment maker, AMEC’s results set the pace for industry growth.
Key financial figures stand out: the company expects 2025 revenue of approximately RMB 12.385 billion, an increase of about RMB 3.319 billion from 2024, representing year‑over‑year growth of about 36.62%. Net profit attributable to shareholders is projected to be RMB 2.08–2.18 billion, an increase of RMB 464–564 million from the previous year, translating to year‑over‑year growth of about 28.74% to 34.93%—nearing the upper bound of 35%—indicating continued profit‑margin expansion.
Quarterly performance was particularly striking, with a sharp uptick in Q4. AMEC estimates Q4 2025 revenue reached RMB 4.322 billion, up 39.3% quarter‑over‑quarter, while net profit attributable to shareholders is projected between RMB 869 million and RMB 969 million, representing an exceptional sequential increase of 71% to 91%. Even at the lower end of RMB 869 million, this sets a new quarterly net‑profit record for the company. Analyst consensus had forecast Q4 net profit at RMB 993 million, indicating AMEC’s performance aligned closely with market expectations.
AMEC’s growth is underpinned by sustained R&D investment: new‑product iteration has accelerated, and development cycles have shortened significantly. In 2025, R&D spending totaled RMB 3.736 billion, up 52.32% year‑over‑year and representing 30.16% of revenue—growing faster than both revenue and net profit. The company has over 20 new equipment models across six major categories in development and holds more than 2,900 patents, having repeatedly received China Patent Gold Awards.
Across business segments, multiple areas delivered strong results:
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Etching equipment sales reached approximately RMB 9.832 billion in 2025, up about 35.12% year‑over‑year, continuing to lead as the core revenue pillar.
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Semiconductor thin‑film equipment, including LPCVD and ALD, performed exceptionally well, with annual revenue of RMB 506 million, surging about 224.23% year‑over‑year, emerging as a new growth engine and demonstrating comprehensive breakthroughs across multiple equipment fields.
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To date, the company has cumulatively shipped over 6,000 plasma and chemical‑film reaction chambers, achieving volume production and large‑scale repeat sales across 137 production lines worldwide.
AMEC’s strong earnings stem primarily from broader customer adoption of its plasma etching equipment, with shipments of advanced‑logic and memory‑related high‑end etching products rising significantly and multiple processes entering volume production, expanding market share. The company is also expanding into advanced packaging and broader semiconductor segments, continuously extending its business boundaries.
ICgoodFind : AMEC’s robust 2025 results, driven by breakthroughs in both R&D and business execution, highlight the competitiveness of its core equipment, supporting the upgrade of China’s domestic semiconductor‑equipment industry.
