SHA:688012

Advanced Micro-Fabrication Equipment Completes Hangzhou Zhonggui Electronic Stake Purchase; Shares Fall 6%

Advanced Micro-Fabrication Equipment China (SHA:688012) completed the acquisition of a 64.69% stake in Hangzhou Zhonggui Electronic Technology, moving forward with its share-and-cash acquisition plan.The company will now issue new shares to transaction counterparties and issue shares to raise supporting funds, according to a Sunday filing with the Shanghai bourse.Shares of the chip gear maker declined 6% in recent trade.

AMEC to Acquire 64% of Zhonggui Electronic Tech for 1.6 Billion Yuan

Advanced Micro-Fabrication Equipment China (SHA:688012) or AMEC plans to acquire 64% of Hangzhou Zhonggui Electronic Technology for 1.58 billion yuan, according to a Shanghai bourse filing on Wednesday.The stake will be acquired from 41 investors through share placement and cash.

Jefferies Adjusts Advanced Micro-Fabrication Equipment China's Price Target to 415 Yuan from 368 Yuan, Keeps at Buy

AMEC's Q1 Profit Surges 197% on Gains from Stake Sale

Advanced Micro-Fabrication Equipment China or AMEC (SHA:688012) saw a nearly threefold increase in profit in the first quarter of 2026, boosted by asset sales and rising demand for advanced etching tools.Attributable profit surged 197% to 930.5 million yuan in the first quarter from 313.1 million yuan in the year-ago period, according to a Shanghai bourse filing on Tuesday.The Chinese chip gear maker's earnings per share nearly tripled to 1.47 yuan from 0.50 yuan in the prior-year period.Revenue jumped 34% year over year to 2.91 billion yuan from 2.17 billion yuan, close to the average annual revenue growth of more than 35% for the past 14 years, AMEC said.Research and development expenses grew 32% or by 221 million yuan, year over year, equivalent to 31% of revenue for the quarter, the chip gear manufacturer said.AMEC also attributed its strong performance to net after-tax gains of 397 million yuan from the sale of part of its stake in TopJade Technology.Shipments of chipmaking equipment for etching of advanced logic and memory devices also grew during the period, AMEC said.The company was able to develop more than 300 etching machines for ultra-high aspect ratio etching processes, while it has also delivered its ultra-high aspect ratio cryogenic etching gear to clients for verification, according to the filing.The surge comes as China's semiconductor trade deficit rose 17% in the first quarter, helping strengthen the desire for more aggressive foundry capacity in the next five years, investment bank Jefferies said in a note April 23.Jefferies maintained a buy rating on AMEC, considering the company its top pick for Chinese wafer fab equipment manufacturers, as it is highly leveraged toward Chinese memory capital expenditure, the investment bank said.

AMEC's Q1 Profit Nearly Triples as Revenue Jumps 34%

Advanced Micro-Fabrication Equipment China or AMEC (SHA:688012) reported a 197% jump in net profit for the first quarter of 2026 to 930.5 million yuan from 313.1 million yuan a year earlier.Earnings per share nearly tripled to 1.47 yuan from 0.50 yuan, according to a Shanghai Stock Exchange filing on Tuesday.The Chinese chip gear maker posted a 34% increase in revenue to 2.91 billion yuan from 2.17 billion yuan.AMEC attributed its performance to the development of the semiconductor equipment market.The company said it witnessed a significant increase in new shipments of high-end products targeting key etching processes in advanced logic and memory device manufacturing during the quarter.