chip Photo:VCG

As of Monday, several A-share-listed semiconductor makers had released earnings estimates for 2025, with many indicating year-on-year growth, the Securities Daily reported on Tuesday. A Chinese expert said that the figures reflect the rapid development of China's semiconductor sector, driven by factors such as demand, policy support and market space created by US restrictions on semiconductor exports.

The listed companies, including Tianjin JHT Design Co (JHT), Montage Technology Co, Shenzhen BIWIN Storage Technology Co (BIWIN), Forehope Electronic (Ningbo) Co, Victory Giant Technology Co, and TCL Technology, delivered strong results, reflecting a solid performance across multiple segments of the semiconductor industry, the Securities Daily reported.

For example, JHT estimated that net profit attributable to shareholders reached 160 million yuan ($22.2 million) to 210 million yuan in 2025, up 103.87 percent to 167.58 percent year-on-year, per the Securities Daily report.

The company said that the strong growth was mainly driven by sustained demand in the semiconductor packaging and testing equipment segment, alongside continued technological research and development (R&D) and product iteration. Demand for products such as tri-temperature test sorters and large-platform, ultra-multi-site test sorters remained robust, leading to a significant increase in sales of the company's test-sorting equipment.

In the memory segment, Montage Technology estimated that net profit attributable to shareholders reached 2.15 billion yuan to 2.35 billion yuan, up 52.29 percent to 66.46 percent year-on-year, the Securities Daily reported.

The company said that benefiting from the AI industry trend and strong market demand, shipments of its interconnect chips rose markedly, driving a sharp year-on-year increase in operating performance.

BIWIN Storage, an integrated storage R&D, packaging and testing company, estimated that net profit attributable to shareholders reached 850 million yuan to 1.0 billion yuan, surging 427.19 percent to 520.22 percent year-on-year.

In 2025, BIWIN maintained rapid growth in emerging AI edge-device applications. The company continued to strengthen its advanced packaging capabilities, with its wafer-level advanced packaging and testing project progressing smoothly. Sample production and validation were carried out in line with customer requirements, enabling BIWIN to offer a one-stop "storage plus wafer-level advanced packaging and testing" integrated solution, it said.

Leading printed circuit board maker Victory Giant Technology Co estimated net profit attributable to shareholders at 4.16 billion yuan to 4.56 billion yuan, up 260.35 percent to 295.00 percent year-on-year.

The company said that large-scale production of multiple high-end products in areas such as AI computing, data centers and high-performance computing lifted the share of higher-value, more technologically complex products, driving strong profit growth.

Leading semiconductor display maker TCL estimated that net profit attributable to shareholders reached 4.21 billion yuan to 4.55 billion yuan, up 169 percent to 191 percent year-on-year.

The company said that its large-size products, including TVs and commercial displays, maintained competitive advantages and provided a solid earnings base, while its small and mid-size display business expanded rapidly, with steadily improving competitiveness.

Ma Jihua, a veteran industry observer, told the Global Times that the rapid expansion of AI applications from robotics to smart homes and assisted driving, significantly lifted semiconductor demand and corporate performance last year.
 
Strong policy support for "AI+" and sustained capital-market optimism further drove investment across the full semiconductor value chain, creating favorable financing conditions, high valuations and a prime window for IPOs.

Ma said that China's domestic semiconductor sector has achieved rapid growth in a short period, driven by strong downstream demand and policy support, as well as market space created by US restrictions on semiconductor exports. 

The expert added that supported by a coordinated system for indigenous R&D and manufacturing based on independent intellectual property, the industry is steadily overcoming key bottlenecks, building robust production capabilities and beginning to expand into international markets.

A ranking of China's top 50 AI companies showed that AI chipmakers were the standout performers in 2025, occupying seven of the top 10 positions, according to the Hurun China AI Top 50 sent to the Global Times on Monday.

The top three companies - Cambricon, Moore Threads and MetaX - are all AI chipmakers, while 10 of the 18 newly added firms are also engaged in AI chip-related businesses, per the release.