SMIC: Product coverage continues to improve, entering the stage of platformization and scale development

On April 1, Neotech Corporation held its 2025 annual results briefing at the Shanghai Lingang industrialization industrial park.

At the results briefing, Neotech Corporation’s Chairman and General Manager, Yin Zhiyao, along with other executives, shared its performance and the latest strategic layout.

According to Yin Zhiyao, in response to new opportunities arising from industry development and new challenges from the external environment, Neotech Corporation has always stayed at the forefront of advanced process technology development. It never copies or replicates overseas standard-fit equipment. It has consistently adhered to three basic principles: “technological innovation,” “product differentiation,” and “intellectual property protection.” As an industry-leading semiconductor equipment company, Neotech Corporation maintains a strategy that combines organic growth with epitaxial expansion. Its product coverage continues to improve, and it is steadily moving into a new development stage characterized by diversification, platformization, and scaling up. In recent years, the company has continuously improved the quality and speed of developing new equipment products, reducing the development cycle for new products dramatically from the traditional 3–5 year period to within two years.

According to the financial report, in 2025, R&D spending was RMB 3.74B, accounting for 30.2% of annual sales, which is higher than the average level of listed companies on the STAR Market by 10% to 15%. The company’s product development projects cover six major categories, with more than twenty new equipment items.

Building on the fact that its annual revenue growth has remained above 35% for the past thirteen years, in 2025 the company’s operating revenue was RMB 12.39B, up approximately 36.62% year over year. Annual sales per employee have already exceeded RMB 4.5 million, and the ratio of annual sales to labor costs is more than double that of international leading equipment companies.

It is understood that, backed by a strong R&D team and deep customer relationships, Neotech Corporation has successively developed etching equipment and thin-film equipment, quickly entering the market and continuously increasing its market share. By the end of 2025, the company had accumulated more than 7,800 plasma and chemical thin-film reaction systems, enabling mass production and large-scale repetitive sales across more than 170 production lines both at home and abroad.

From the product situation across various fields, Yin Zhiyao explained to investors present that in 2025, the thin-film equipment sales revenue increased year over year by approximately 224.23%, becoming an important new engine for performance growth. Within a short period of time, the company successfully developed a dozen-plus types of core thin-film equipment for conductors and dielectrics, and multiple products achieved breakthroughs in both technology and the market. The company has comprehensively rolled out metrology equipment, especially electron-beam metrology equipment and wet-process equipment, with progress already made. In the wet-process equipment segment, by the end of 2025 Neotech Corporation initiated an acquisition of Hangzhou Zhonggui.

At the same time, Neotech Corporation continues to deepen its focus on the broad semiconductor industry and emerging equipment areas. Among them, the third-generation TSV etching tool required for advanced packaging is expected to achieve market breakthroughs. The company has also developed four new types of MOCVD equipment for power devices made of silicon carbide and gallium nitride, including MOCVD equipment for Micro LED required blue-green light and red, yellow, and other related light. It is being rolled out to the market in stages. In the large flat-panel equipment segment, it achieved a leapfrog breakthrough from nothing to something. Using only 18 months, the company developed the OLED 8.6-generation large flat-panel PECVD equipment, meeting customers’ production-line requirement of ±5% thin-film thickness uniformity, and passed certification for large production lines, filling the domestic technology gap in this area.

Looking ahead, Yin Zhiyao said that through “organic growth” and “epitaxial expansion,” within about five years the company will cover more than 60% of high-end critical equipment for integrated circuits and more than 70% of advanced packaging equipment, becoming a platform-based company for integrated circuit equipment.

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