CFMEE’s first-half profit nearly doubles on surging PCB equipment sales

Direct-writing lithography equipment manufacturer Circuit Fabology Microelectronics Equipment Co. Ltd. (9630.HK; 688630.SH) announced on Wednesday that its revenue rose 69% year-on-year to 1.11 billion yuan ($165 million) in the first half of this year, while its profit surged 98.1% to 281 million yuan. Its gross profit margin increased to 42.5% from 40.5% a year earlier.

Revenue from its PCB direct imaging equipment and automation systems rose 85.4% to 880 million yuan during the period, mainly as the AI computing power industry chain drove higher capital expenditure on high-end PCBs, boosting both the price and volume of advanced LDI equipment. Revenue from its semiconductor direct-writing lithography equipment and automation systems rose 22.2% to 169 million yuan.

The company’s revenue from China surged 88% year-on-year to 948 million yuan during the six-month period, accounting for 85.7% of its total, mainly as AI computing power demand drove PCB and IC substrate manufacturers to accelerate capacity expansion, coupled with faster domestic substitution. Revenue from overseas markets was about 158 million yuan, similar to a year earlier.

The company said demand for AI servers, HBM advanced packaging and high-end IC substrates remains strong, while domestic substitution of semiconductor equipment continues to accelerate, pointing to broad long-term growth prospects for the industry. It plans to further ramp up production of its advanced packaging, PLP and laser drilling equipment.

CFMEE shares opened lower on Thursday before reversing higher, trading at HK$386.8 by the midday break, up 7.86%. The stock is up about 53% above its offer price since listing in June.

By Lee Shih Ta

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