Advertisement
Chinese etching tools giant AMEC sees 2023 sales rise more than 30% on strong demand from mainland semiconductor fabs
- Shanghai-based AMEC expects its 2023 revenue to reach US$879 million, up 32.1 per cent from the previous year, on the back of strong domestic orders
- The company said sales of its core etching tools will account for 75 per cent of its total revenue last year
Reading Time:2 minutes
Why you can trust SCMP
3
Che Panin Beijing
Chinese etching tools giant Advanced Micro-Fabrication Equipment (AMEC) expects revenue last year to grow more than 30 per cent from 2022, as core technology breakthroughs enabled the firm to deploy more chip-making gear to domestic semiconductor fabrication plants.
Shanghai-based AMEC said in a regulatory filing on Sunday that its 2023 revenue is expected to reach 6.26 billion yuan (US$879 million), up 32.1 per cent from the previous year, on the back of strong domestic demand. The company said it recorded 8.36 billion yuan worth of new orders, a 32.3 per cent year-on-year increase.
Net profit last year is projected to be from 1.7 billion yuan to 1.85 billion yuan, representing year-on-year growth of between 45 per cent and 58 per cent.
Advertisement
AMEC’s positive earnings guidance reflects its successful strategy to expand sales on the mainland, months after founder, chairman and chief executive Gerald Yin Zhiyao said the firm had devised a detailed road map to replace foreign-produced components with domestic parts amid tightened US semiconductor sanctions.
Yin had said 80 per cent of US-restricted components that AMEC used would be replaced with domestic parts by the end of last year. He expected the company to achieve a 100-per cent replacement rate in 2024.
Advertisement
Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x