AMEC(SH:688012) Zheng Quan Shi Bao Wang·2025-07-17 11:54Core Viewpoint - The company, Zhongwei, is expected to maintain strong revenue growth in the first half of 2025, with projected revenue of approximately 4.96 billion yuan, representing a year-on-year increase of about 43.88% [1] Group 1: Revenue Growth - In the second quarter of 2025, the company anticipates revenue of around 2.79 billion yuan, reflecting a year-on-year growth of approximately 51.26% [1] - The company's revenue from etching equipment is expected to grow by about 40.12%, reaching 3.78 billion yuan, while LPCVD film equipment revenue is projected to increase by approximately 608.19%, reaching 199 million yuan [1][2] - The company has maintained an average annual revenue growth rate of over 35% for the past 14 years [1] Group 2: Profit Growth - The company expects to achieve a net profit attributable to shareholders of between 680 million and 730 million yuan in the first half of 2025, representing a year-on-year increase of 31.61% to 41.28% [1] - The increase in net profit is primarily driven by a revenue growth of 43.88%, with gross profit rising by approximately 552 million yuan compared to the previous year [2] - The company's R&D investment for the first half of 2025 is expected to be around 1.49 billion yuan, an increase of approximately 53.70% year-on-year, accounting for about 30.07% of revenue [2] Group 3: R&D and Innovation - The company is focused on technological innovation, product differentiation, and intellectual property protection, with ongoing projects covering six categories of equipment and over twenty new devices under development [2] - The speed of new product development has significantly accelerated, with competitive new devices being developed in two years or less, compared to the previous three to five years [2] - The company has reported a fair value change gain and investment income of approximately 172 million yuan in the first half of 2025, a significant increase from a loss of 8 million yuan in the same period of 2024 [2] Group 4: Market Position and Applications - Zhongwei is dedicated to providing leading processing equipment and technology solutions for global integrated circuit and LED chip manufacturers, with its plasma etching equipment widely used by top domestic and international clients [3] - The company is also expanding into optical and electron beam measurement equipment and developing various semiconductor micro-processing devices [3] - In 2024, the company achieved revenue of approximately 9.07 billion yuan, a year-on-year increase of about 44.73%, maintaining an average annual revenue growth rate of over 40% for nearly four years [3]