Sci-Tech Innovation Board chip design, storage, and packaging & testing companies receive positive news

This newspaper report (Reporter Mao Yirong) states that on the evening of March 19, Semiconductor Manufacturing International Corporation (SMIC) Shenzhen Co., Ltd. (hereinafter referred to as “SMIC Shenzhen”), Shenzhen Buwei Storage Technology Co., Ltd. (hereinafter referred to as “Buwei Storage”), and Hefei Xinhui Cheng Microelectronics Co., Ltd. (hereinafter referred to as “Huicheng Co., Ltd.”)—three integrated circuit industry chain companies listed on the STAR Market—officially disclosed their 2025 annual reports, with positive news in mixed-signal chip design, storage modules, and packaging and testing.

The annual report shows that SMIC Shenzhen, a manufacturer of MCUs, continued to invest in R&D, launching 22 new products into the market that year. The new products enhanced market competitiveness, and shipments of various products increased rapidly. The total chip shipments for the year reached nearly 4 billion units, a record high. Gross profit margins rebounded significantly, with overall gross margin rising from 30% to 34%. Operating revenue for the year reached 1.122 billion yuan, a year-on-year increase of 23.09%.

Benefiting from the global storage chip industry entering an upward cycle, Buwei Storage experienced explosive growth in performance since Q4 2025. The net profit attributable to the parent in the first two months of 2026 is expected to be 1.7 to 2.1 times that of the entire 2025. The annual report indicates that the company continued to increase R&D investment in 2025, with R&D expenses reaching 630 million yuan, a 41.34% increase year-on-year. Self-developed eMMC controllers achieved mass production and delivery to leading customers. MiniSSD won major international awards, automotive-grade storage passed authoritative certification, and wafer-level packaging and testing equipment business also made breakthroughs.

In the packaging and testing sector, Huicheng Co., Ltd. has gradually released new production capacity, with customer orders continuously increasing. Shipments steadily rose, driving revenue up by 18.79% year-on-year, and net cash flow from operating activities increased by 38.25% year-on-year. The company continued to strengthen R&D in advanced IC packaging and testing fields, with annual R&D investment exceeding 100 million yuan for the first time. Several projects, including wafer thinning surface stress improvement technology and composite copper-nickel gold bump process R&D, have been introduced into mass production.

Additionally, leading semiconductor cleaning equipment company Shengmei Semiconductor Equipment (Shanghai) Co., Ltd. (hereinafter “Shengmei Shanghai”) plans to hold a 2025 performance and cash dividend briefing at the end of March. As a key player in domestic substitution in semiconductor manufacturing, the annual report shows that in 2025, Shengmei Shanghai ranked fourth globally in cleaning equipment and third in electroplating equipment market share. The company plans to distribute a cash dividend of 299 million yuan in 2025 to share development results with investors.

In the integrated circuit sector, 128 STAR Market IC companies account for over 60% of similar A-share listed companies, forming a complete upstream and downstream industry chain with comprehensive industrial functions, and promoting key core technology breakthroughs in “neck-breaking” fields across the entire chain. According to performance quick reports, these companies are expected to achieve total operating revenue of over 360 billion yuan in 2025, a 25% increase year-on-year; net profit is expected to exceed 27 billion yuan, an 83% increase year-on-year.

(Edited by Zhang Xin)