Chinese Chip Gear Profits Soar After US Curbs Spur Local Buying
- Homegrown gear suppliers benefiting from self-sufficiency push
- Beijing has vowed to replace foreign tech with local options
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Two major Chinese chip equipment makers are predicting a doubling in profits after the US clamped on exports of American technology, forcing manufacturers to rely on homegrown alternatives.
Advanced Micro-Fabrication Equipment Inc. said net income for the first half likely grew between 110% and 120%. Peer Naura Technology Group Co. reported on Friday a 121% to 156% increase in profit to as much as 1.93 billion yuan ($270 million) during the same period.