AMEC(SH:688012) Ge Long Hui A P P·2026-01-23 10:40Core Viewpoint - The company, Zhongwei Company (688012.SH), anticipates significant revenue and profit growth for 2025, driven by strong demand for its semiconductor equipment, particularly plasma etching devices and thin film deposition equipment [1][2]. Financial Projections - The company expects a revenue of approximately 12.385 billion yuan in 2025, an increase of about 3.319 billion yuan from 2024, representing a year-on-year growth of approximately 36.62% [1]. - Projected sales for etching equipment are around 9.832 billion yuan, reflecting a year-on-year growth of approximately 35.12% [1]. - Revenue from LPCVD and ALD semiconductor thin film equipment is expected to reach 506 million yuan, showing a substantial year-on-year increase of approximately 224.23% [1]. - The anticipated net profit attributable to the parent company for 2025 is estimated to be between 2.08 billion and 2.18 billion yuan, indicating a year-on-year growth of approximately 28.74% to 34.93% [1]. - The projected net profit, excluding non-recurring gains and losses, is expected to be between 1.5 billion and 1.6 billion yuan, reflecting an increase of approximately 8.06% to 15.26% year-on-year [1]. Product Development and Market Position - The company's plasma etching equipment is recognized as a core device in the semiconductor front-end market, characterized by a broad market space and high technical barriers [2]. - The company has seen a significant increase in the shipment volume of high-end products for critical etching processes in advanced logic and memory device manufacturing [2]. - The company has successfully developed over ten new types of conductor and dielectric thin film equipment in the past two years, with several new products already entering the market [2]. - Some of the new equipment has received repeat orders, and the cumulative shipment of LPCVD equipment has surpassed 300 reaction chambers [2]. - Ongoing research and development projects for multiple key thin film deposition equipment are progressing smoothly, and the EPI equipment has entered the client mass production verification phase [2].