AMEC(SH:688012) 招商电子·2025-10-31 11:21Core Viewpoint - The company has demonstrated significant revenue growth and profit improvement in Q3 2025, driven by increased R&D investment and the upcoming market entry of advanced etching and deposition equipment [2][3][4]. Group 1: Financial Performance - In Q3 2025, the company reported revenue of 3.1 billion yuan, representing a year-on-year increase of 50.6% and a quarter-on-quarter increase of 11.3% [2][3]. - The net profit attributable to shareholders was 505 million yuan, up 27.5% year-on-year and 28.6% quarter-on-quarter [2][3]. - For the first three quarters of 2025, total revenue reached 8.063 billion yuan, a 46.4% increase year-on-year, with net profit attributable to shareholders at 1.211 billion yuan, reflecting a 32.66% year-on-year growth [3]. Group 2: R&D and Product Development - The company has significantly increased its R&D spending, which reached 2.523 billion yuan in the first three quarters of 2025, marking a 63.44% year-on-year increase and accounting for 31.29% of total revenue [3]. - The next-generation 90:1 ultra-high aspect ratio etching equipment is set to enter the market soon, with substantial progress made in developing ICP etching equipment for advanced logic and storage clients [4]. Group 3: Market Position and Outlook - The company has seen a notable increase in the shipment volume of high-end etching equipment for advanced logic and storage production lines, with large-scale production of ultra-high aspect ratio etching processes now achievable [3][4]. - The rapid ramp-up of deposition equipment is expected to contribute positively to future revenue growth [4].