AMEC posts 161% net profit rise in 2020

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February 26, 2021

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AMEC posts 161% net profit rise in 2020

By Zhu Shenshen | 00:06 UTC+8 February 26, 2021 |

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AMEC, the largest semiconductor equipment vendor on the Chinese mainland, yesterday reported a 161-percent jump in net profit last year thanks to investment returns and booming chip demand.

Shanghai-based AMEC’s revenue last year gained 16.8 percent to 2.27 billion yuan (US$349.2 million) while net profit surged to 492 million yuan.

It was in the middle of the STAR-listed company’s previous expectations of net profit hitting 440 to 520 million yuan.

AMEC offers core equipment for chip makers such as SMIC, China’s top chipmaker.

Of the net profit, AMEC earned 262 million yuan for holding shares in SMIC, which listed on the Shanghai STAR Market last year.

SMIC is now the STAR Market’s No. 1 firm by market value.

Shanghai plans to double the value of the local integrated circuit industry by 2025, which boost the whole industry, especially local firms such as AMEC, SMIC and National Silicon.

But AMEC also faces an uncertain business environment.

SMIC, its major client, was added to the US Entity List last year, which affected its sales and capacity, and further influenced sales of AMEC’s equipment.

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AMEC posts 161% net profit rise in 2020

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