AMEC(SH:688012) Chang Jiang Shang Bao·2026-01-11 23:31Core Viewpoint - The announcement of a share reduction by the founder of Zhongwei Company, Yin Zhiyiao, highlights his transition from foreign nationality back to Chinese nationality for tax purposes, reflecting his commitment to the domestic semiconductor industry [1][8]. Company Development - Zhongwei Company, founded by Yin Zhiyiao in 2004, has grown into a significant player in the global etching equipment sector, achieving nearly 10 billion yuan in revenue and a market capitalization of 210.8 billion yuan [1][8]. - The company has successfully developed various advanced etching equipment, marking significant milestones in the semiconductor industry, including the successful production of the first CCP etching equipment in 2007 and subsequent advancements in technology [2][3][4]. Financial Performance - In 2018, prior to its IPO, Zhongwei's revenue was 1.639 billion yuan, which surged to 9.065 billion yuan in 2024, representing a 4.5-fold increase. The net profit attributable to shareholders grew from less than 100 million yuan to 1.616 billion yuan during the same period [6][7]. - For the first three quarters of 2025, Zhongwei reported revenues of 8.063 billion yuan, a year-on-year increase of 46.4%, and a net profit of 1.211 billion yuan, up 32.66% [6][7]. Research and Development - Zhongwei emphasizes a strong commitment to R&D, with expenditures reaching 2.523 billion yuan in the first three quarters of 2025, a 63.44% increase year-on-year, accounting for approximately 31.29% of its revenue [6][7]. - The company has made significant advancements in ICP etching equipment and other semiconductor technologies, achieving processing precision at the atomic level and receiving high recognition from clients [7].