Logotype for Advanced Micro-Fabrication Equipment Inc

Advanced Micro-Fabrication Equipment (688012) Q1 2025 earnings summary

Event summary combining transcript, slides, and related documents.

Logotype for Advanced Micro-Fabrication Equipment Inc

Q1 2025 earnings summary

6 Jun, 2025

Executive summary

  • Revenue for Q1 2025 reached RMB 2.17 billion, up 35.40% year-over-year, maintaining a 14-year CAGR above 35%.

  • Net profit attributable to shareholders was RMB 313 million, up 25.67% compared to Q1 2024.

  • Significant R&D investment at RMB 687 million, up 90.53% year-over-year, representing 31.60% of revenue.

  • High-end etching and thin film equipment shipments increased, with new products entering mass production and market validation.

Financial highlights

  • Operating cash flow turned positive at RMB 377 million, compared to a negative RMB 586 million in Q1 2024.

  • Basic and diluted EPS were RMB 0.50, up 25% year-over-year.

  • Gross margin improved due to higher revenue and product mix, with government subsidies and investment gains contributing to non-recurring income.

  • Total assets at quarter-end were RMB 27.12 billion, up 3.44% from year-end 2024.

  • Shareholders' equity reached RMB 20.14 billion, up 2.06% from year-end 2024.

Outlook and guidance

  • Accelerated R&D cycle, with new equipment development time reduced to two years or less.

  • Plans to launch more competitive products at scale in the coming years, driven by strong market demand.

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