2025 was a bumper year for Chinese chipmaking equipment firms Naura, AMEC, ACM Research, and Piotech, with each posting record revenues according to a recent Nikkei Asia analysis that also found Chinese fabs are importing record volumes of U.S.-branded tools routed through Singapore and Malaysia, drastically reducing direct imports from the U.S..
The record revenues cap a five-year buildout driven by Beijing’s desire to reduce dependence on imported wafer fab equipment, though a Needham & Co. analyst cited in the same report said pricing pressure among Chinese vendors is now beginning to bite into their profit margins.
