Introduction
China’s semiconductor chip equipment manufacturers are breaking records in 2024. AMEC, ACM Research, and NAURA Technology Group are reporting strong growth.
Their progress highlights China’s push to become self-sufficient in semiconductor production. These companies are increasing their investments in R&D to stay competitive and meet the growing market demand.
This article dives into the successes of these companies, their future plans, and their contributions to the global semiconductor industry.
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In Brief:
Domestic and Global Demand: Strong demand in China and the global recovery of the semiconductor industry drive growth.
AMEC: Forecasts revenue of RMB 9.065 billion, with a 44.7% increase, driven by R&D expansion.
ACM Research: Expected revenue growth of up to 51%, fueled by strong domestic demand.
NAURA: Revenue forecast of RMB 27.6–31.78 billion, with a substantial rise in net profit.
R&D Focus: Significant investments in R&D across all companies to develop advanced semiconductor equipment
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1. AMEC: Growth in Etching and Thin Film Equipment
Focus: Primarily known for its etching equipment, a crucial step in semiconductor manufacturing.
Strengths: Growing presence in the Chinese market, strong R&D efforts, and expanding product portfolio.
AMEC is on a strong growth path. The company forecasts 2024 revenue of RMB 9.065 billion, up 44.7% from 2023.
In the fourth quarter, AMEC expects a 60% revenue growth. However, the company’s net profit is forecast to decrease by 10.6%, to RMB 1.6 billion.
The drop is linked to a 94% increase in R&D spending, reaching RMB 2.45 billion.
Major R&D Expansion
AMEC is investing heavily in R&D. The company plans to open a new subsidiary, AMEC Semiconductor Equipment (Chengdu) Co., Ltd., in Chengdu High-tech Zone.
This facility will focus on developing advanced equipment like CVD and ALD tools for high-end logic and memory chips.
The investment totals RMB 3.05 billion, planned from 2025 to 2030. This expansion aligns with China’s goal to reduce dependence on foreign technology and build local capabilities.
2. ACM Research: Robust Growth Fueled by Domestic Demand
Focus: A leading provider of semiconductor wet processing equipment, such as cleaning and electroplating systems.
Strengths: Strong market position in China, continuous innovation in wet processing technologies.
ACM Research is experiencing rapid growth. The company expects revenue between RMB 5.6 billion and RMB 5.88 billion in 2024, up 44% to 51% from the previous year.
Strong domestic demand in China, along with a recovery in the global semiconductor industry, has contributed to this growth.
ACM’s backlog of orders supports its positive outlook for 2025, with expected revenue ranging from RMB 6.5 billion to RMB 7.1 billion.
Product Focus and Market Impact
ACM Research specializes in cleaning and electroplating equipment, vertical furnace systems, and packaging wet process tools. These products are critical to the growing demand for advanced semiconductor manufacturing technologies. ACM’s success in 2024 highlights the increasing importance of local manufacturers in the semiconductor market.
3. NAURA Technology Group: Expanding Market Share
Focus: Specializes in semiconductor cleaning and electroplating equipment, covering wafer manufacturing and advanced packaging sectors.
Strengths: Growing market share, strong R&D capabilities, and expanding product portfolio to address emerging market needs.
NAURA Technology Group, one of China’s largest semiconductor equipment makers, is also seeing strong growth.
The company forecasts revenue between RMB 27.6 billion and RMB 31.78 billion in 2024, a 25% to 44% increase. Net profit is expected to rise by 32.6% to 52.6%, with a forecast range of RMB 5.17 billion to RMB 5.95 billion.
Excluding non-recurring items, net profit could rise by as much as 64.5%.
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Key Product Launches
NAURA has made significant strides in developing new products. These include CCP etching equipment, PECVD systems, ALD vertical furnaces, and stacked wafer cleaning systems.
These products have been integrated into customer production lines and are achieving large-scale sales.
NAURA has also developed HDPCVD tools, dual-damascene CCP etchers, and high-k dielectric ALD systems. These technologies are being successfully mass-produced and used by multiple clients.
Key Drivers of Growth for Chinese Semiconductor Manufacturers
1. R&D Investment
All three companies—AMEC, ACM Research, and NAURA—are investing heavily in R&D. This focus is crucial for pushing the boundaries of semiconductor technology and reducing reliance on foreign suppliers.
2. Technological Advancements
These companies have introduced new equipment such as CVD, ALD, and PECVD systems. These technologies are essential to meet the increasing demand for smaller, faster, and more powerful chips.
3. Strong Domestic Demand
China’s growing focus on semiconductor self-sufficiency is driving demand for local equipment suppliers.
With strong domestic demand, these companies are well-positioned to serve China’s semiconductor manufacturers.
4. Localization Efforts
The Chinese government’s push for local semiconductor production has created opportunities for companies like AMEC, ACM, and NAURA. AMEC’s new subsidiary in Chengdu is one example of how local investments are supporting China’s long-term semiconductor goals.
5. Global Recovery
The global recovery of the semiconductor industry post-pandemic is benefiting these manufacturers. As demand for chips increases worldwide, these companies are experiencing strong order backlogs.
Looking Ahead: The Future of China’s Semiconductor Industry
Chinese semiconductor equipment manufacturers are setting new records in 2024. Their growth, technological advancements, and strong focus on R&D put them at the forefront of the industry.
AMEC, ACM Research, and NAURA are all heavily investing in new products and expanding their R&D capabilities. This will ensure they remain competitive in the rapidly evolving semiconductor market.
Conclusion
With increasing domestic demand, a focus on innovation, and a clear commitment to localization, China’s semiconductor equipment manufacturers has a bright future.
These manufacturers are playing a key role in China’s push for semiconductor self-sufficiency and technological leadership.
As the country continues to strengthen its position in the global semiconductor market, the achievements of these companies highlight the growing capabilities of China’s semiconductor sector.
