High Prosperity of the Semiconductor Equipment Industry in H1 2026
In the first half of 2026, driven by the strong momentum of AI large model iterations and multimodal computing power demands, the global semiconductor industry witnessed explosive growth with revenues breaking through the USD 700 billion mark, alongside a comprehensive surge in the capital market. The "AI Computing Power and Storage Super Cycle" has become the core engine driving the industry. High-value AI chips contributed nearly half of the revenue with extremely low shipment volumes, while also triggering a surge in demand for high-end memory chips.
Against this backdrop, the prosperity of the semiconductor equipment industry remained consistently high in the first half of 2026. According to the mid-year forecast released by SEMI, global semiconductor manufacturing equipment sales are expected to reach USD 165.9 billion in 2026, a substantial growth of 23.2% compared to 2025.
Market Performance Index of Domestic Semiconductor Equipment Listed Companies in H1 2026
Based on the publicly available financial report data for the first half of 2026 from semiconductor equipment listed companies, the Industrial Research Department of Shenzhen Chip Alliance utilized our proprietary quantitative analysis model. By importing data such as revenue, net profit, and R&D personnel, and applying weighted parameters, we derived the "Market Performance Index" for each company.
To ensure the rigor and value of the ranking, there are specific requirements for the semiconductor business of the companies included in the list. Some excellent equipment listed companies were not included because their main revenue does not come from the semiconductor business, or they have not disclosed semiconductor business revenue (such as Saiteng Co., Ltd., Jingsheng Electromechanical, etc.).
Market Performance Index of Semiconductor Listed Companies - Quantitative Model Introduction:
This index is a refined evaluation tool for China's semiconductor listed companies. By quantifying five key business dimensions from public reports and statements—technological innovation, financial health, profitability, market position, and capacity & potential—it strives to comprehensively and objectively segment the market performance of each product line.
1. In the "Technological Innovation" dimension, the index uses the R&D investment intensity indicator (10% weight) to directly reflect the degree of resource allocation towards technological innovation by the enterprise; and uses the proportion of R&D personnel indicator (10% weight) to focus on the quality of human resource allocation;
2. In the "Financial Health" dimension, the index considers both short-term liquidity and long-term solvency, comprehensively evaluating the enterprise's risk resistance ability using the quick ratio (5% weight) and "1 - asset-liability ratio" (5% weight). (Note: Since the asset-liability ratio is a negative indicator, this transformation method is used);
3. In the "Profitability" dimension, the index allocates and estimates the performance of the company's net profit attributable to the parent company based on the revenue proportion of product lines (20% weight), and adopts the product gross profit margin (10% weight) to explain the pricing power and cost control efficiency in segmented markets;
4. In the "Market Position" dimension, the index uses the revenue scale of segmented products (30% weight) to highlight market share and business volume, serving as a key anchor for industry discourse power;
5. In the "Capacity & Potential" dimension, the index uses the year-over-year growth rate of intangible assets on the balance sheet (10% weight) to measure long-term development momentum, reflecting the efficiency of production-research transformation.
Finally, we used the Z-Score shifted and standardized data for each dimension to calculate the final index, and directly present the absolute value of the index. Additionally, please note that due to the different number of listed companies in various semiconductor sectors and the different bases for data standardization, the data for tertiary classifications are not comparable across sectors.
By quantifying five key business dimensions from public reports and statements—technological innovation, financial health, profitability, market position, and capacity & potential—we comprehensively and objectively analyze the annual competitiveness of enterprises. The Industrial Research Department of Shenzhen Chip Alliance quantitatively ranked 26 listed semiconductor equipment companies. The top three in the market performance index forecast for the first half of 2026 are NAURA Technology, AMEC, and Semight Instruments. Among the five dimensions, the companies ranking first in each dimension are Semitronics, NAURA Technology (first in 2 dimensions), AccoTEST, and Semight Instruments, representing their outstanding performance in the financial reports for the first half of 2026.
Table: Domestic Semiconductor Equipment Listed Companies - Dimension Performance in H1 2026
1. Technological Innovation
In the technological innovation indicator, which comprehensively calculates enterprise R&D investment and the proportion of R&D personnel, Semitronics achieved a high score of 105.06, ranking first. In the first half of 2026, its R&D investment was CNY 170 million, with 656 R&D personnel, accounting for a high proportion of 80.20% of the total staff. As of the end of June, it had cumulatively obtained 299 domestic and foreign patent authorizations, including 194 invention patents and 227 software copyrights. The continuous thickening of its intellectual property reserve provides a strong guarantee for core technology breakthroughs and business expansion for Semitronics.
Jingsheng Co., Ltd. also achieved a high score of 73.71. In the first half of the year, the company's R&D investment was approximately CNY 21 million, a year-over-year increase of 2.29%, and the proportion of R&D investment to operating revenue was about 51.75%. By the end of the first half of 2026, Jingsheng Co., Ltd. and its subsidiaries had cumulatively obtained 109 domestic patents, including 43 invention patents and 66 utility model patents. At the same time, it continues to focus on core technology research in the field of semiconductor equipment, consolidating and deepening its leading position in semiconductor silicon, silicon carbide, and other semiconductor material growth equipment and key processes.
2. Financial Health
AccoTEST (Index 35.93) had an operating revenue of CNY 738 million in the first half of the year, a year-over-year increase of 38.17%; its net profit attributable to the parent company was CNY 416 million, a year-over-year increase of 112.60%. In the first half of 2026, the total global sales of ICs (Integrated Circuits) were approximately USD 624.5 billion, with a year-over-year growth rate as high as 89%. AccoTEST continues to deeply cultivate its analog and mixed-signal testing business as its core foundation, and its global installed base of products has exceeded 9,000 units.
3. Profitability
NAURA Technology achieved a high score of 126.36 in the profitability indicator. In the first half of the year, it realized an operating revenue of CNY 20.161 billion, a year-over-year increase of 24.9%; the net profit attributable to shareholders of the listed company was CNY 3.37 billion, a year-over-year increase of 5.05%. In the field of IC equipment, the market share of multiple equipment types such as etching, thin film deposition, heat treatment, wet cleaning, ion implantation, coating and developing, and bonding has steadily increased. The coverage of processes and market share have grown, leading to a year-over-year increase in operating revenue.
4. Market Position
As a leading enterprise in domestic semiconductor equipment, NAURA Technology continued to promote equipment technology iteration and category expansion in the first half of the year, deepened the business integration of Kingsemi, and further improved its equipment layout. The market share of main equipment such as etching, PVD, and vertical furnaces has steadily increased. Technical stability and process performance have been fully verified by mainstream domestic and foreign wafer fabs. Multiple new products such as ion implantation, electroplating, and coating and developing have achieved large-scale supply, and bonding equipment has achieved batch shipments to customers. Relying on its platform advantages of leading product technology, diverse categories, and extensive process coverage, it creates greater value for customers through product iteration upgrades and complete set solutions.
5. Capacity & Potential
The capacity and potential indicator is quantified based on multiple indicators such as the proportion of intangible assets and the market share of main business market products. According to financial report data, Semight Instruments' R&D investment in the first half of the year was CNY 250 million (a year-over-year increase of 83.34%), with 624 R&D personnel, accounting for 33.37% of the total number of employees. It possesses a large number of core invention patents covering underlying technologies such as sampling oscilloscopes, 1.6T bit error rate testers, silicon photonic wafer testing, and silicon carbide burn-in testing. The reserve of technology-based "hidden intangible assets" is sufficient, supporting product iteration and the landing of new production lines.
Profile Analysis of 26 Listed Equipment Companies
NAURA Technology
Core Technologies: Plasma etching, physical/chemical vapor deposition technology, oxidation diffusion technology, etc.
Main Products: Core process equipment such as etching, thin film deposition, heat treatment, wet cleaning, ion implantation, coating and developing, and bonding.
Key Applications: Manufacturing fields such as ICs, power semiconductors, 3D integration and advanced packaging, compound semiconductors, and new displays.
Market Competitiveness: A platform-type leader in the domestic semiconductor equipment field, with core competitiveness centered on full-process coverage, deep technical accumulation, high-quality customer resources, and policy and industrial chain synergy.
AMEC
Core Technologies: Etching, MOCVD, thin film deposition equipment technology, etc.
Main Products: Etching equipment, thin film deposition equipment, chemical mechanical polishing (CMP) equipment, metrology and inspection equipment, MOCVD equipment, and other equipment.
Key Applications: ICs, LED epitaxial wafers, power devices, MEMS, etc.
Market Competitiveness: Has formed significant technological and market barriers in the fields of plasma etching and MOCVD. Relying on the dual-wheel drive of domestic substitution and technology iteration, its competitiveness continues to strengthen.
Semight Instruments
Core Technologies: Centered on high-speed signal processing, weak signal processing, and ultra-precision motion control, mastering self-developed core chips and algorithms.
Main Products: Communication test instruments, semiconductor test equipment.
Key Applications: AI computing power optical interconnect (1.6T/3.2T optical module testing), CPO testing, automotive-grade SiC power device testing, memory chip testing.
Market Competitiveness: The market share of optoelectronic device testing equipment and silicon carbide power device wafer-level burn-in systems both rank first in the country; the power chip KGD sorting and testing system ranks first among local enterprises.
Changchuan Technology
Core Technologies: IC test equipment technology.
Main Products: Testers, sorters, probers, AOI equipment.
Key Applications: IC packaging and testing.
Market Competitiveness: Gradually achieving import substitution in multiple fields such as logic circuit testing, analog mixed circuit testing, and power device testing. A considerable degree of localization rate has also been achieved in the field of sorters.
AccoTest
Core Technologies: V/I source, precision voltage and current measurement, wide bandgap semiconductor testing, and intelligent power module testing.
Main Products: Semiconductor test equipment.
Key Applications: ICs.
Market Competitiveness: A leading enterprise in the domestic semiconductor test equipment field, holding a leading market position in the segmented track of analog/number-analog mixed testing.
Semitronics
Core Technologies: A closed-loop yield improvement with software-hardware synergy, building integrated capabilities around "test chip design EDA + wafer-level WAT test equipment + semiconductor big data analysis system".
Main Products: WAT electrical test equipment.
Key Applications: IC manufacturing.
Market Competitiveness: One of the earlier domestic WAT tester suppliers to enter the mass production lines of wafer fabs, having formed a certain first-mover advantage in the industry.
ACM Research (Shanghai)
Core Technologies: SAPS/TEBO megasonic cleaning technology, etc.
Main Products: Front-end semiconductor process equipment (including cleaning equipment, semiconductor electroplating equipment, etc.), back-end wafer-level advanced packaging process equipment, panel-level advanced packaging equipment, and silicon material substrate manufacturing process equipment.
Key Applications: ICs, advanced packaging.
Market Competitiveness: The globally pioneered SAPS/TEBO megasonic cleaning technology and single-wafer combined batch cleaning technology have no competitive gap with similar products from international giants in terms of applicable sizes for semiconductor cleaning equipment.
Piotech
Core Technologies: Thin film deposition, hybrid bonding technology, etc.
Main Products: Thin film deposition equipment, hybrid bonding equipment, etc.
Key Applications: ICs, advanced packaging.
Market Competitiveness: A domestic leading enterprise in thin film deposition equipment, proactively laying out hybrid bonding equipment, and cutting into the core links of heterogeneous integration and 3D integration.
Skyverse Technology
Core Technologies: Deep ultraviolet imaging scanning technology, high-precision multi-mode interference metrology technology, defect recognition algorithm technology based on reference area comparison, etc.
Main Products: Inspection equipment, metrology equipment, intelligent software.
Key Applications: Advanced logic, advanced memory, and HBM 2.5D/3D packaging, etc.
Market Competitiveness: Relying on past independent R&D and continuous innovation in optical inspection technology, big data inspection algorithms, and automation software, it has reached an internationally leading level in multiple key core technologies for semiconductor quality control equipment.
Jingce Electronic
Core Technologies: Key core technologies such as spectral scatterometry, optical interferometry, optical microscopic imaging, electron beam/ion beam imaging, and electrical testing.
Main Products: Front-end metrology and inspection equipment, back-end electrical test equipment, advanced packaging metrology and inspection equipment, etc.
Key Applications: Wafer processing, wafer manufacturing, scientific research laboratories, third-generation semiconductors.
Market Competitiveness: A leading enterprise in the domestic semiconductor inspection equipment field, forming significant advantages in high-barrier fields such as film thickness metrology, OCD, electron beam inspection, and bright-field defect inspection.
Hwatsing Technology
Core Technologies: Nanometer-level polishing, nanometer-precision film thickness online detection, nanoparticle ultra-clean cleaning, big data analysis and intelligent control, ultra-precision thinning.
Main Products: CMP equipment, thinning equipment, ion implantation equipment, dicing equipment, edge polishing equipment, wet equipment, etc.
Key Applications: ICs, advanced packaging, large silicon wafers, third-generation semiconductors, MEMS, MicroLED, etc.
Market Competitiveness: The coverage rate and market share in domestic 12-inch advanced production lines continue to increase, accounting for over 90% of the sales share of domestic CMP equipment.
Powertech Semiconductor
Core Technologies: Semiconductor automation testing field technology.
Main Products: Semiconductor automation test systems, laser marking equipment, and other electromechanical integration equipment.
Key Applications: Testing of power semiconductors, testing of analog and number-analog mixed signal ICs.
Market Competitiveness: Currently one of the domestic suppliers with the widest coverage of power device and power module testing capabilities and functional modules.
SEICHI Technologies
Core Technologies: Semiconductor memory device test equipment technology.
Main Products: Semiconductor memory test equipment, computing chip test equipment.
Key Applications: Memory device testing.
Market Competitiveness: Relying on its cross-domain technology integration capabilities in display and semiconductors, its advantage as the only domestic DRAM test full-process coverage, and deep binding with head customer resources, it has become an important force in the domestic inspection equipment field.
Crystal Growth & Energy Equipment
Core Technologies: Crystal growth equipment modeling and simulation technology, thermal field design and simulation technology, etc.
Main Products: Semiconductor-grade single-crystal silicon furnaces, silicon carbide single-crystal furnaces, etc.
Key Applications: 8-12 inch semiconductor wafer manufacturing, 6-12 inch silicon carbide single-crystal substrates, etc.
Market Competitiveness: A leading domestic supplier of semiconductor crystal growth equipment, achieving the localization of 12-inch semiconductor-grade single-crystal silicon furnaces. The progress of downstream mass production applications and technical level of its products are both in the first tier among domestic manufacturers.
E-Town Semiconductor
Core Technologies: Precise wafer temperature control, inductively coupled remote plasma source design, etc.
Main Products: Dry stripping equipment, rapid thermal processing equipment, dry etching and plasma surface treatment equipment.
Key Applications: Memory, logic semiconductor manufacturing.
Market Competitiveness: The only domestic enterprise that simultaneously masters internationally leading technologies in plasma stripping and wafer thermal processing. Inheriting the core technology of Mattson Technology, it has built a deep moat, and the market share of its dry stripping equipment continues to maintain a global leading position.
JHT Design
Core Technologies: High-speed motion attitude adaptive control technology, 3D precision position compensation technology, etc.
Main Products: Parallel test sorters.
Key Applications: ICs.
Market Competitiveness: Mastering core technologies related to test sorters, the technical indicators of its products in terms of testable chip size, UPH, test pressure, Index time, temperature range and stability, and Jam rate all reach internationally advanced levels.
GL Tech
Core Technologies: Semiconductor dicing saw technology.
Main Products: Dicing saws, grinding and thinning machines.
Key Applications: ICs, power semiconductor devices, optoelectronic devices, sensors, etc.
Market Competitiveness: A globally renowned semiconductor dicing equipment enterprise, it is one of the few global enterprises that simultaneously possess dicing mass production equipment, core components (such as air spindles), and consumables (such as blades).
Kingsemi
Core Technologies: Front-end coating and developing equipment technology, front-end cleaning equipment technology, back-end advanced packaging equipment technology, small-size equipment technology for compounds, etc.
Main Products: Coating and developing equipment, wet equipment, temporary bonding/debonding equipment, etc.
Key Applications: Front-end wafer processing, back-end advanced packaging, compound semiconductors, etc.
Market Competitiveness: A leading domestic enterprise in coating and developing, and single-wafer wet equipment.
Sidea Semiconductor Equipment
Core Technologies: Full-chain core technology for probe testing.
Main Products: Probers, sorters, AOI inspection equipment.
Key Applications: ICs, optoelectronic chips, discrete devices, third-generation compound semiconductors, etc.
Market Competitiveness: Ranking first in the market share of the prober market in mainland China, it is the first equipment manufacturer in mainland China to achieve industrialized application of 12-inch wafer probers.
Leadmicro Nano Technology
Core Technologies: ALD technology.
Main Products: ALD equipment, CVD equipment.
Key Applications: Logic chips, memory chips, advanced packaging, compound semiconductors.
Market Competitiveness: The first domestic equipment manufacturer to successfully apply mass-production High-k atomic layer deposition (ALD) equipment to the front-end production line of IC manufacturing in China. It is also one of the first domestic manufacturers to successfully develop hard mask chemical vapor deposition (CVD) equipment and enter the mass production lines of core manufacturers in the industrial chain, and one of the first equipment manufacturers in the industry to provide thin film deposition technical support for new memory.
Xinyichang Technology
Core Technologies: High-speed precision motion control technology, single-bond dual-arm synchronous operation technology, color mixing algorithm, custom protocol backplane bus, digital phase-locked loop, etc.
Main Products: Die bonders, test sorters, etc.
Key Applications: Semiconductors, LEDs.
Market Competitiveness: A leading domestic comprehensive solution provider for semiconductor and new display packaging equipment, also holding a leading advantage in capacitor burn-in test equipment.
Jingyi Automation Equipment
Core Technologies: Refrigeration control technology, precision temperature control technology, energy-saving technology, etc.
Main Products: Semiconductor dedicated temperature control equipment (Chiller), semiconductor dedicated process exhaust gas treatment equipment (Local Scrubber), wafer transfer equipment (Sorter).
Key Applications: ICs.
Market Competitiveness: As a domestic supplier of semiconductor dedicated equipment achieving import substitution, it attaches great importance to the independent R&D and innovation of core technologies. As of December 31, 2025, it had 130 invention patents applied to its main business, with significant R&D and innovation achievements.
Vital Deeptech
Core Technologies: Core technology of ion implanters.
Main Products: Ion implantation equipment.
Key Applications: ICs.
Market Competitiveness: The "Material-Component-Equipment-Service" vertical integration layout of Pioneer Technology Group forms an ecological advantage that is difficult for other enterprises to replicate.
PNC Technology Group
Core Technologies: Micro-pollution control technology, complex process control technology, ultra-high purity fluid control technology, etc.
Main Products: Semiconductor cleaning equipment.
Key Applications: Logic circuits, high-density memory, advanced packaging, compound semiconductors.
Market Competitiveness: It has evolved from an initial high-purity process system integration service provider into a comprehensive service provider capable of providing "process-equipment-material" integrated solutions for wafer manufacturing customers. In the process equipment sector, its subsidiary Zhiwei Technology continues to maintain a leading position in the domestic wet cleaning equipment field.
S-KING Intelligent Equipment
Core Technologies: Fully automatic lamination line integration technology, high-precision visual positioning system, etc.
Main Products: Test sorters, wafer probers, wafer die bonders, etc.
Key Applications: Semiconductor packaging and testing.
Market Competitiveness: Occupying a high market share in products such as turret test sorters, relying on the three core advantages of technological R&D, customer resources, and domestic substitution, it has established strong market competitiveness.
iN-Cube Automation
Core Technologies: Optical technologies such as sensing, recognition, imaging, and AOI.
Main Products: Sorting and inspection equipment.
Key Applications: Fields such as display semiconductors, optical communication semiconductors, sensing semiconductors, power semiconductors, and IC advanced packaging.
Market Competitiveness: Through advantages such as nanometer-level precision technology and deep cultivation in segmented fields, it has become a leading domestic enterprise in the fields of optical communication semiconductors and display semiconductors, and is accelerating its expansion into high-end fields such as semiconductor advanced packaging.
Conclusion
In the first half of 2026, the semiconductor equipment market was driven by the triple forces of AI computing power + storage recovery + advanced packaging. Global capital expenditure hit a record high, and equipment delivery times were tight. Mainland China maintained its position as the world's largest equipment procurement market, and domestic equipment accelerated volume growth in mature processes.