Chinese chip-tool maker AMEC says first-half profit to nearly quadruple amid soaring demand
Advanced Micro-Fabrication Equipment China (AMEC), the country’s top chip-tool maker, says its preliminary profit will nearly quadruple in the first half of the year as robust demand for home-grown semiconductors continues amid US sanctions. Based on unaudited figures, the company said its income between January and June was at least 2.7 billion yuan (US$400 million), representing a year-on-year…
AMEC, China's leading chip-tool maker, anticipates its first-half profit to nearly quadruple to 2.7 billion yuan (US$400 million) in the period from January to June, marking a year-on-year growth of 282 per cent. This surge in revenue, up 35 per cent to 6.7 billion yuan, can be attributed to robust demand for home-grown semiconductors and US sanctions.
The company's profit growth is partly fueled by substantial investments and fair-value gains, including the sale of shares in fellow equipment maker Piotech. AMEC's shares climbed 2.55 per cent in Shanghai on Tuesday, while the semiconductor equipment index rose over 7.61 per cent. The company's rapid development of new machines, which typically take three to five years to create, in just two years, highlights their innovative capabilities.
Brief written by urgent.news from South China Morning Post's own syndicated text. Machine-written — it may contain errors, so check the original before relying on it.
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