Multiple Listed Enterprises in Integrated Circuit Sector Release Positive Announcements

On the evening of March 19, Semiconductor Manufacturing International Corporation (SMIC), Baiwei Storage, and 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 reports show that in 2025, SMIC 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 reached nearly 4 billion units, setting a new record. Gross profit margins rebounded significantly, with the overall gross margin rising from 30% to 34%. The company achieved operating revenue of 1.122 billion yuan, a year-on-year increase of 23.09%.

Benefiting from the global storage chip industry entering an upcycle, Baiwei Storage experienced explosive growth in performance starting from the fourth quarter of 2025. The net profit attributable to the parent company in the first two months of 2026 is expected to be 1.7 to 2.1 times that of the entire year of 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 year-on-year increase of 41.34%. Self-developed eMMC controllers achieved mass production and delivery to major clients. Mini SSDs received international awards, automotive-grade storage passed authoritative certifications, and wafer-level packaging and testing equipment business made simultaneous breakthroughs.

In the packaging and testing sector, Huicheng Co., Ltd. gradually released new production capacity, with customer orders continuously increasing. Shipments steadily grew, 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. Multiple 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 manufacturer Shengmei Shanghai announced plans to hold a 2025 performance and cash dividend briefing by the end of March. The annual report shows that in 2025, the company’s global market share for cleaning equipment and electroplating equipment ranked fourth and third, respectively. The company plans to distribute a cash dividend of 299 million yuan in 2025 to share development achievements with investors.

Overall, the 128 integrated circuit companies listed on the STAR Market 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” areas across the entire chain. Fast performance reports indicate that these companies are expected to achieve total operating revenue of over 360 billion yuan in 2025, a year-on-year increase of 25%, and net profit exceeding 27 billion yuan, an increase of 83%.