(Yicai Global) Feb. 28 -- Advanced Micro-Fabrication Equipment logged record revenue for last year thanks to surging sales at the leading Chinese supplier of semiconductor equipment.

Revenue jumped 53 percent from the year before to CNY4.74 billion (USD640 million) in the 12 months ended Dec. 31, the firm’s annual financial report showed yesterday. Revenue growth has averaged more than 35 percent a year over the past decade, it added. Net profit rose 16 percent to CNY1.17 billion.

AMEC signed about CNY6.32 billion in new orders in 2022, an increase of about CNY2.19 billion from a year earlier, it said. The Shanghai-based company did not provide any earnings guidance.

AMEC is one of the major suppliers of plasma etching equipment, the most critical micro-processing equipment other than steppers. In addition, the equipment has the most process steps and the highest difficulty in process development, it said.

Huachuang Securities recently issued a report saying that United States export controls have resulted in a wave of equipment localization in China, and the share of domestic semiconductor equipment makers represented by AMEC has increased significantly.

AMEC’s shares [SHA: 688012] closed up 0.9 percent at CNY105.3 (USD15.17) each today.

Editor: Peter Thomas