Core Viewpoint - The company reported significant revenue growth and increased R&D investment in its Q3 2025 financial results, indicating a strong market demand for its semiconductor equipment and a commitment to innovation. Financial Performance - The company achieved a revenue of 8.063 billion yuan in the first three quarters of 2025, representing a year-on-year growth of approximately 46.40% [1] - Revenue from etching equipment reached 6.101 billion yuan, up by about 38.26% [1] - Revenue from LPCVD and ALD thin film equipment surged to 403 million yuan, marking a staggering growth of approximately 1332.69% [1] - The net profit attributable to shareholders was 1.211 billion yuan, reflecting a year-on-year increase of about 32.66% [1] R&D and Product Development - The company has accelerated its R&D efforts, with R&D expenditure increasing by 979 million yuan (approximately 63.44%) year-on-year, accounting for about 31.29% of total revenue [1] - The company is currently developing over twenty new devices across six categories, significantly reducing the development time for new products to two years or less [2] - The company has seen a notable increase in the delivery of high-end products for critical etching processes in advanced logic and memory device manufacturing [2] Equipment and Market Position - The company’s CCP and ICP etching products are experiencing rapid growth, with the 60:1 ultra-high aspect ratio etching equipment becoming a standard in the domestic market [3] - The company has achieved single-atom level precision in its ICP etching equipment, with several thin film devices successfully entering the market and meeting international performance standards [3] - The company has maintained an average annual revenue growth of over 35% over the past 14 years and is projected to continue this trend with a 43.9% year-on-year revenue increase in the first half of 2025, reaching 4.961 billion yuan [4]

中微公司Q3营收同比增长50.62%，净利润同比增长27.5%。业绩增长主要受核心刻蚀设备业务稳健增长及薄膜设备收入爆发式增长的推动。2025 年前三季度，LPCVD和ALD等薄膜设备收入4.03亿元，同比增长约1332.69%。 根据公告，中微公司在先进逻辑和存储器件制造的关键工艺方面取得显著进展，多款高端产品的新增付运量显著提升。 在刻蚀设备领域，用于关键刻蚀工艺的CCP单反应台介质刻蚀产品保持高速增长，60比1超高深宽比的介质刻蚀设备已成为国内标配，而下一代 90比1超高深宽比设备也即将进入市场。同时，ICP刻蚀设备和化学气相刻蚀设备开发取得良好进展，加工精度和重复性已达到单原子水平。 营收加速增长，薄膜设备成新引擎 财报数据显示，中微公司的营收增长动力来源广泛。2025年前三季度，公司总营收达到80.63亿元，较去年同期增长46.40%。其中，作为公司基石 业务的刻蚀设备收入为61.01亿元，同比增长38.26%，保持稳健增长。 更为引人注目的是薄膜设备业务的突破性进展。报告期内，包括LPCVD和ALD在内的薄膜设备收入达到4.03亿元，同比激增1332.69%。公司在 财报中表示，多款用于先进存储和 ...