AMEC (Advanced Micro-Fabrication Equipment)

Advanced Micro-Fabrication Equipment Inc. China, known in English as AMEC and in Chinese as 中微公司, is a Shanghai semiconductor equipment maker that builds plasma etch tools, thin-film deposition tools and MOCVD reactors. It was founded in 2004, listed on the Shanghai Stock Exchange STAR Market in July 2019 under the code 688012, and reported revenue of RMB 12.385 billion for 2025.^[2] It is not connected to Amec Foster Wheeler, the British engineering contractor; it is not the Ameca humanoid robot, which this wiki covers at Ameca (robot); and it is not Applied Materials, which is often abbreviated AMAT and which is both AMEC's largest competitor and the former employer of its founder.

AMEC matters to anyone trying to judge how far China's semiconductor industry actually is from the international frontier, because plasma etch is the one front-end process step where a Chinese toolmaker has a documented record of selling into leading-edge foreign fabs rather than only into domestic ones. The company's own filings claim volume sales of capacitively coupled plasma etchers onto overseas 3 nm chip production lines.^[2] Those same filings also show that revenue from outside mainland China was RMB 326 million in 2025, about 2.6 percent of the total, which is the scale check that keeps the first claim in proportion.^[2]

Founding and the Applied Materials lineage

AMEC was incorporated in Shanghai on 31 May 2004 as a wholly foreign-owned enterprise, funded by a Singapore holding company, AMEC Asia. Its establishment was approved on 18 May 2004 by the administrative office of the Zhangjiang High-Tech Park, and its registered capital of USD 20 million was contributed 65 percent in cash and 35 percent as patent technology valued at USD 7 million. The operating site was and remains 188 Taihua Road in the Jinqiao zone of Pudong, not Zhangjiang. The company converted to a joint stock company on 21 December 2018 in preparation for its listing.^[1]

The founder, Gerald Yin (尹志尧), born 1944, holds a bachelor's degree from the University of Science and Technology of China and a doctorate in physical chemistry from UCLA. His career before AMEC is unusually well documented because it is restated in every annual report. He worked at Intel from 1984 to 1986 as a process engineer in central technology development; at Lam Research from 1986 to 1991, rising from senior R&D engineer to senior R&D manager; and at Applied Materials from 1991 to 2004, where he served successively as chief technology officer of the plasma etch product headquarters, corporate vice president and general manager of the plasma etch business group, and chief technology officer of Applied Materials Asia. He has been AMEC's chairman and general manager since 2004 and is the company's legal representative.^[1][2][3] The 2019 prospectus described him as a principal inventor on 89 US patents and more than 200 other patents, and noted that VLSI Research named him one of its 2018 semiconductor industry "All Stars".^[1]

That lineage is the reason AMEC's early history is also a litigation history, and it is why the company's technical claims have always been read against the question of where its know-how came from.

Yin held US citizenship at the time of the IPO; the 2019 prospectus lists his nationality as American. The 2025 annual report lists it as Chinese, confirming the change of nationality that Caixin and other outlets reported in 2025.^[1][2]

Ownership and the STAR Market listing

AMEC was in the first batch of companies to list on the Shanghai Stock Exchange's STAR Market. It issued 53,486,224 A-shares at RMB 29.01 each and began trading on 22 July 2019, raising roughly RMB 1.55 billion gross.^[2][4] A follow-on private placement of 80,229,335 shares was registered on 30 June 2021.^[2]

The share register is deliberately dispersed. The 2025 annual report states plainly that the company has no controlling shareholder and no actual controller.^[2] At the end of 2025 the largest holders were:

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The remaining top-ten slots are all index funds.^[2] The three state-linked holders together accounted for roughly 29 percent at the end of 2025 without any one of them controlling the company. The national fund's Phase III vehicle arrived later, in 2026, as a subscriber to the financing for AMEC's CMP acquisition.^[5]

Product lines

AMEC organises its catalogue around two plasma sources and several adjacent lines. Capacitively coupled plasma (CCP) is used for dielectric etch, where high ion energy is needed to drive holes and trenches through oxide and nitride stacks; inductively coupled plasma (ICP) is used where a denser, lower-energy plasma suits silicon, metal and high-selectivity work.

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^[2][6]

The scale of the installed base is the clearest single measure of how far the etch business has travelled. AMEC reported that cumulative CCP etch installations passed 5,000 reaction chambers during 2025, with more than 1,000 chambers shipped in that year alone and a compound annual growth rate above 30 percent sustained for ten consecutive years. Cumulative ICP installations reached 1,800 chambers, running in production at more than 50 customers. Cumulative shipments of the newer LPCVD and ALD thin-film tools passed 300 chambers.^[2] Across all products the company produced 1,660 chambers and sold 1,240 in 2025.^[2]

Two adjacent businesses arrived recently. A subsidiary, Chaowei Semiconductor Equipment (Shanghai), was set up to build electron-beam metrology and inspection tools.^[2] And in 2026 AMEC acquired a 64.69 percent stake in Hangzhou Zhongsi Electronic Technology, one of the few Chinese firms shipping 12-inch chemical-mechanical polishing tools in volume, paying with a mixture of new shares and cash. The target's equity transferred to AMEC on 29 May 2026, and a RMB 1.5 billion supporting placement closed in June 2026, subscribed 53.33 percent by the National IC Industry Investment Fund Phase III and 40 percent by Shanghai Pudong Emerging Industry Investment.^[5][7] The stated rationale is to move from a dry-process-only portfolio to dry plus wet.

What is actually established about the leading-edge customers

This is the part of AMEC's story that is easiest to overstate, so it is worth separating the tiers of evidence.

Named in the prospectus. The 2019 IPO prospectus lists TSMC first among representative etch customers, followed by SMIC, UMC, Huali Microelectronics, SK Hynix, YMTC, Winbond, China Wafer Level CSP, GlobalFoundries, Bosch and STMicroelectronics. For MOCVD it lists Sanan Optoelectronics, HC SemiTek and Changelight.^[1] TSMC also appears by name in AMEC's top-five accounts receivable table at the end of 2016, 2017 and 2018, with balances of RMB 38.5 million, RMB 34.1 million and RMB 31.9 million.^[1] A receivable is harder to argue with than a marketing claim: it means invoices were issued and mostly paid.

The prospectus node table. The same document sets out, application by application, exactly which etch steps were in production and which were still in customer qualification as of mid-2019:

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The accompanying text says, in translation, that AMEC's high-end etchers were already used on internationally known customers' most advanced production lines and applied to several key steps in 7 nm devices. It does not say the tools handled the whole 7 nm etch flow, and the 7 nm and 5 nm rows were explicitly at qualification stage, not in production.^[1] The distinction between "several key steps" and "the etch module" is the difference between a qualified second source for particular layers and a peer of Lam Research, and AMEC's own document draws it.

The 2018 TSMC announcement. In December 2018 AMEC announced that its in-house developed 5 nm plasma etch tools had been verified by TSMC; DigiTimes reported the announcement on 21 December 2018.^[8] The claim originates with AMEC, and TSMC has not, as far as public sources show, confirmed it in its own name. Nearly every subsequent secondary account of "AMEC at TSMC 5 nm" traces back to this announcement.

The current company claim. The 2025 annual report goes further but is careful about who the customer is. In translation, it says the company's etch equipment has been applied on the world's advanced 3 nm and below integrated circuit production lines, and that on overseas advanced 3 nm chip lines and next-generation more advanced lines its CCP etch equipment has achieved volume sales.^[2] The word it uses for those lines is the Chinese for overseas (海外), and no customer is named anywhere in the report. There are very few non-Chinese fabs running 3 nm.

The scale check. In the same annual report, revenue from Taiwan was RMB 215 million in 2025, down 31.6 percent year on year, and revenue from all other countries and regions was RMB 111 million, down 21.6 percent. Mainland China supplied RMB 12.06 billion, up 40.1 percent.^[2] Overseas assets were RMB 762 million, 2.55 percent of the total.^[2] The leading-edge foreign relationship is real, documented and technically significant. It is also, in revenue terms, a rounding error next to the domestic business, and it shrank in 2025 while the domestic business grew.

Customer concentration is high and the names are withheld. AMEC's top five customers accounted for 75.00 percent of 2025 revenue, with a single customer at 39.99 percent, or RMB 4.95 billion.^[2]

Financial trajectory

All figures below are from AMEC's audited annual reports filed with the Shanghai Stock Exchange, in renminbi.

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^[2][9][10]

The composition shifted completely over that period. At the 2019 IPO, MOCVD was the larger business: main-business revenue in 2018 was RMB 1.639 billion, of which MOCVD equipment contributed RMB 832 million and etch equipment RMB 566 million.^[1] By 2024, etch was RMB 7.277 billion, up 54.7 percent, while MOCVD had fallen to RMB 379 million, down 18.0 percent, and the first LPCVD tools sold for RMB 156 million.^[9] In 2025 etch reached RMB 9.832 billion, up 35.1 percent, and LPCVD and ALD together reached RMB 506 million, up 224.2 percent.^[2]

Two other numbers are worth carrying. Gross margin was 39.17 percent in 2025, down 1.89 points, which the company attributed to sales discounts granted amid a structural change in its customer mix.^[2] And R&D investment was RMB 3.744 billion, 30.23 percent of revenue, up 52.65 percent year on year, of which RMB 2.475 billion was expensed rather than capitalised. The company noted that this ratio is far above the 10 to 15 percent typical of STAR Market listings.^[2] That spending is why 2024 net profit fell even as revenue grew 44.7 percent. Headcount at the end of 2025 was 2,963, of whom 1,548, or 52.24 percent, were R&D staff.^[2] Cumulative patent applications reached 3,324 by December 2025, with 2,047 granted.^[2]

Manufacturing footprint

The registered office and original plant are at 188 Taihua Road in the Jinqiao Comprehensive Bonded Zone, Pudong.^[2] AMEC is part of the wider Shanghai cluster that also contains SMIC and Hua Hong Semiconductor, but it does not sit in Zhangjiang alongside them; its links to Zhangjiang date to the 2004 establishment approval rather than to its current site.^[1]

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^[2][11][12]

The Chengdu project deserves its own note because the dates are easy to garble. AMEC's third board of directors approved it at its first meeting and the company disclosed it in announcement 2025-004 on 15 January 2025: a wholly owned subsidiary with RMB 100 million of registered capital, in the Chengdu High-Tech Zone, building an R&D centre, a manufacturing base and offices as a southwest headquarters. Total project investment was put at about RMB 3.05 billion across 2025 to 2030, with a target of RMB 1 billion in annual sales by 2030. The announcement gave the subsidiary's establishment date as February 2025.^[11] Construction formally began on 17 October 2025 in the Chengdu High-Tech West Zone, with completion and production targeted for 2027.^[12] The subsidiary appears in the 2025 annual report under its final registered name, AMEC Semiconductor Equipment (Sichuan) Co., Ltd., newly consolidated that year.^[2]

Competitive position

Global etch is a three-firm oligopoly, and AMEC's own IPO prospectus said so. Citing The Information Network, it put 2017 etch market shares at roughly 55 percent for Lam Research, 20 percent for Tokyo Electron and 19 percent for Applied Materials, with the top three holding 94 percent of the market.^[1] Citing VLSI Research, it put 2018 semiconductor equipment systems and services revenue at USD 81.1 billion, led by Applied Materials at USD 14.02 billion (17.27 percent), ASML at USD 12.77 billion (15.74 percent), Tokyo Electron at USD 10.92 billion (13.45 percent), Lam Research at USD 10.87 billion (13.40 percent) and KLA at USD 4.21 billion (5.19 percent).^[1] Against that backdrop the prospectus gave AMEC's own position with unusual candour: based on Gartner's estimate of the global capacitively coupled etch market, AMEC's share of CCP etch was about 1.4 percent during the 2016 to 2018 reporting period.^[1]

Care is needed with any comparison here, because etch share and overall wafer fab equipment share are very different numbers. The 2025 annual report cites Gartner for the proposition that etch and deposition each account for roughly 22 to 23 percent of wafer fab equipment value.^[2] A firm can be meaningful in etch and invisible in WFE, or the reverse.

The absolute gap remains large. AMEC's entire 2025 revenue of RMB 12.385 billion is under USD 2 billion at any plausible exchange rate. Lam Research alone reported USD 18.44 billion of revenue in its fiscal year ended 29 June 2025.^[13] Lam does not break out etch separately, so a direct etch-to-etch comparison cannot be made from public filings.

The direction of travel is nonetheless what makes AMEC notable. Nikkei's 2025 ranking of semiconductor equipment vendors, reported by TrendForce in February 2026, placed three Chinese firms in the global top 20 for the first time: NAURA fifth, behind only ASML, Applied Materials, Lam Research and Tokyo Electron; AMEC thirteenth; and SMEE twentieth.^[14] Data released by the China Semiconductor Industry Association in January 2026 and summarised by TrendForce put domestic equipment adoption in Chinese fabs at 35 percent for 2025, ahead of a 30 percent target and up from 25 percent in 2024, with etch and thin-film deposition above 40 percent, metrology at 25 percent and lithography at 18 percent.^[15] Within that domestic substitution story, AMEC and NAURA are the two names that recur, with NAURA the broad-line supplier and AMEC the etch specialist.

AMEC's competitive strategy from 2025 has been to become a platform rather than a specialist. The Zhongsi acquisition added wet processing to a portfolio that already covered etch, deposition and, through Chaowei, metrology and inspection. The company has stated a five-year goal of covering more than 60 percent of high-end key IC equipment categories and 70 percent of advanced packaging equipment.^[5]

US government listings, and how AMEC got off one

AMEC's history with US restrictions is the most-cited part of its record and the most frequently confused, because at least four separate instruments are involved. They are not interchangeable.

Section 1237 of the FY1999 NDAA, the "Communist Chinese military companies" (CCMC) list. AMEC states that the Department of Defense added it to this list on 14 January 2021, and that "upon AMEC's effective communications with substantial evidence, DOD removed AMEC from the aforementioned list on 3 June 2021".^[16] Listing under this instrument mattered because Executive Order 13959 keyed a prohibition on US persons trading the listed companies' securities to it. The removal date is also the date President Biden signed Executive Order 14032, which superseded the operative sections of EO 13959 and rebuilt the trading prohibition around a new Treasury-administered annex, effective 2 August 2021.^[30] AMEC does not appear in that annex or in Treasury's current consolidated non-SDN list data.^[24][30] Two other companies added in the same period, Xiaomi and Luokung, sued the Department of Defense in the District of Columbia in January and March 2021; AMEC filed no US lawsuit over the 2021 listing.^[17]

Section 1260H of the FY2021 NDAA, the "Chinese military companies" (CMC) list. This is a different statute administered by a different process and with different consequences, principally a bar on Department of Defense contracting. AMEC was not on the first 1260H list published in June 2021.^[18] DoD announced its addition on 31 January 2024, and the Federal Register published the list containing "Advanced Micro-Fabrication Equipment Inc. China (AMEC)" on 2 April 2024.^[16][19] AMEC issued a company statement on 5 February 2024 saying it had "no connection with the military and no military investment", that it supplied no military end users, and that the designation was without evidence.^[16]

The lawsuit and the removal. On 14 August 2024 AMEC filed suit in the US District Court for the District of Columbia as Advanced Micro-Fabrication Equipment Inc. China v. U.S. Department of Defense, No. 1:24-cv-02357, assigned to Judge Paul L. Friedman and brought under the Administrative Procedure Act.^[17] On 13 December 2024 the Deputy Secretary of Defense determined that AMEC and IDG Capital Partners should be removed from the 1260H list; the notice was published on 18 December 2024.^[20] The parties then filed a stipulation of dismissal on 6 February 2025, and the case was terminated on 12 March 2025.^[17]

The mechanism matters. No court ruled on the merits. DoD removed AMEC administratively, and AMEC then dropped the case. That pattern, litigation followed by delisting followed by voluntary dismissal, is the same one seen with Xiaomi in 2021 and with several other 1260H challengers, and it is one of the few reliable routes by which a Chinese firm has come off a US list. AMEC remained off the 1260H list published on 7 January 2025 and off the most recent list published on 10 June 2026, which still names SMIC, YMTC and CXMT.^[21]

The Commerce Entity List. AMEC is not on it. The rule published on 5 December 2024 at 89 FR 96830 added roughly 140 parties including NAURA Technology Group, Piotech, ACM Research (Shanghai) and Shenzhen SiCarrier Technologies; AMEC was not among them.^[22] A check of the current text of Supplement No. 4 to Part 744, the Entity List itself, as maintained in the electronic Code of Federal Regulations and current through late July 2026, returns no entry for Advanced Micro-Fabrication Equipment or any AMEC affiliate.^[23] Nor does AMEC appear on the Treasury Department's consolidated non-SDN sanctions lists.^[24]

The Validated End-User programme, which cuts the other way. This is the piece most accounts miss. On 10 July 2013 the Bureau of Industry and Security added AMEC to the list of Validated End-Users in China, authorising licence-free export of items under ECCNs 2B230, 3B001.c and 3B001.e (the latter two limited to components and accessories) to its Taihua Road facility.^[25] VEU status was a privilege granted to a short list of firms and meant US suppliers could ship to AMEC under a general authorisation rather than individual licences. That status ended with the same 5 December 2024 rule that expanded the Entity List: BIS removed AMEC, CSMC Technologies and Shanghai Huahong Grace from the VEU programme, noting in the rule text that "AMEC also requested to be removed from the VEU Program".^[22] So the single rulemaking that put four of AMEC's domestic peers on the Entity List simultaneously stripped AMEC of a US export facilitation it had held for eleven years, at its own request, without listing it. That is a more precise description of AMEC's position than "not on the Entity List" alone conveys.

The AI chip export controls that constrain Chinese fabs also constrain their equipment suppliers indirectly, through the subsystems and components those suppliers buy. AMEC's 2025 annual report flags "a considerable degree of international trade friction risk" arising from a small number of countries tightening semiconductor export controls on China, and notes it had no sales into the United States during the reporting periods covered by its prospectus.^[1][2]

Intellectual property litigation

Applied Materials, 2007 to 2010. Applied Materials sued AMEC in the US District Court for the Northern District of California on 15 October 2007, No. 5:07-cv-05248, alleging misappropriation of trade secrets, breach of contract and unfair competition, with former Applied employees among the defendants. The parties announced a settlement on 21 January 2010 under which certain disputed patent families filed by AMEC would be jointly owned, AMEC made an undisclosed payment to Applied Materials, and the two agreed to collaborate on future projects.^[26]

Veeco, 2017 to 2018. The MOCVD dispute ran in both directions. Veeco obtained a US injunction restricting SGL Carbon from supplying wafer carriers for AMEC's MOCVD systems, and on 7 December 2017 the Fujian High People's Court granted AMEC an injunction barring Veeco Shanghai from importing, making or selling MOCVD systems and wafer carriers infringing AMEC's Chinese patent CN 202492576. On 8 February 2018 Veeco, AMEC and SGL Carbon jointly announced a global settlement dismissing or withdrawing all actions in all jurisdictions and resuming normal sales, service and importation. Terms were not disclosed. Veeco chairman John Peeler and Gerald Yin each issued statements welcoming the resolution.^[27]

Lam Research. Chinese intellectual property trade press reports that AMEC sued Lam Research in Shanghai in December 2010 over the alleged improper acquisition of one confidential technical document and two photographs of the interior of an AMEC plasma etch chamber, which AMEC said had been used against it in a 2009 patent action. The Shanghai No. 1 Intermediate People's Court ruled for AMEC in March 2017, and the Shanghai High People's Court issued a final judgment for AMEC on 30 June 2023 ordering destruction of the materials, barring their disclosure or use, and awarding damages and costs.^[28] AMEC did not report any material litigation or arbitration in its 2023 annual report, which suggests the financial stakes were modest relative to the company's size.^[29]

The MOCVD business

MOCVD is a separate business from etch, serving compound semiconductor and LED epitaxy rather than silicon logic and memory. It was AMEC's revenue engine at the IPO and is now a small fraction of the company. AMEC says it has been the largest supplier of MOCVD tools to the GaN-based LED market by market share since 2017 and retains that position.^[2] The Prismo A7 processes 34 four-inch wafers per chamber, against 14 for the earlier Prismo D-Blue.^[1]

The decline in MOCVD revenue reflects the LED capital cycle rather than a loss of position, and AMEC has pushed the line toward newer applications: Micro-LED epitaxy, where it completed production qualification at a leading Micro-LED epitaxy company in 2025; GaN power devices, where new tools have shipped to customers for production qualification; and arsenide-phosphide materials for red LED and Mini-LED, where a dedicated tool has shipped to a leading display IDM. The company cites Yole's estimate that the GaN power device market will grow from USD 360 million in 2024 to more than USD 2.9 billion in 2030, a 42 percent compound rate.^[2]

Limitations

Several qualifications belong alongside the growth story.

The customer base is concentrated and domestic. Three quarters of 2025 revenue came from five customers, one of them alone contributing 40 percent, and 97.4 percent of revenue came from mainland China.^[2] The Taiwanese and other overseas revenue lines both shrank in 2025.^[2] A company whose growth depends on a single national substitution programme carries a different risk profile from one selling into a global market.

The frontier claims are self-reported. The 3 nm statement is AMEC's own, in its own filing, with no customer named. The 2018 TSMC verification claim is AMEC's own announcement as relayed by trade press. Neither has been confirmed by the customer.

Coverage is partial. The prospectus was explicit that AMEC's etch applications at 7 nm and 5 nm were specific layers, not the full etch flow, and the company continues to describe new capabilities in terms of individual processes being qualified.^[1][2] The 2025 report notes that a next-generation adjustable-gap single-station CCP tool for advanced contact and via work was still a laboratory prototype expected to enter process qualification and marathon testing in the first quarter of 2026.^[2]

Profitability is thin relative to peers. Net profit of RMB 2.111 billion on RMB 12.385 billion of revenue in 2025 reflects R&D at 30 percent of sales, and RMB 661 million of that year's pre-tax profit came from fair-value gains and investment income on external equity holdings rather than from operations.^[2] Excluding non-recurring items, profit grew 11.6 percent against 36.6 percent revenue growth.^[2]

And the company remains embedded in a supply chain it does not control. AMEC's tools depend on components and subsystems that are themselves subject to export controls, and the loss of VEU status in December 2024 removed a procurement facilitation the company had held since 2013.^[22][25] Etch is a step AMEC can supply; lithography, the binding constraint on Chinese leading-edge manufacturing, is not one it addresses at all.

References

1. ^Advanced Micro-Fabrication Equipment Inc. China, prospectus for the initial public offering of A-shares on the SSE STAR Market (招股说明书), June 2019. static.sse.com.cn/...000064_20190611_31LJ.pdf
2. ^AMEC, 2025 Annual Report (2025年年度报告), filed with the Shanghai Stock Exchange, 31 March 2026. pdf.dfcfw.com/...H2_AN202603301820874503_1.pdf
3. ^AMEC, "Leadership", corporate website. amec-inc.com/...13
4. ^Sina Finance, "中微公司：科创板上市发行价格为29.01元/股", 8 July 2019. finance.sina.com.cn/...doc-ihytcerm2253387.shtml
5. ^Shanghai Securities News, "中微公司战略收购杭州众硅圆满收官 配套募资获大基金三期支持", republished by Eastmoney, 26 June 2026. finance.eastmoney.com/...202606263785021366
6. ^AMEC, "Products", corporate website. amec-inc.com/...16
7. ^AMEC, "关于发行股份及支付现金购买资产并募集配套资金的发行结果暨股本变动公告", 23 June 2026. pdf.dfcfw.com/...H2_AN202606221823740978_1.pdf
8. ^Lena Li, "AMEC's 5nm plasma etching tools verified by TSMC", DigiTimes, 21 December 2018. digitimes.com/...a20181221PD207
9. ^AMEC, 2024 Annual Report (2024年年度报告), 18 April 2025. pdf.dfcfw.com/...H2_AN202504171657978381_1.pdf
10. ^AMEC, 2021 Annual Report (2021年年度报告), 31 March 2022. pdf.dfcfw.com/...H2_AN202203301556063011_1.pdf
11. ^AMEC, "关于对外投资设立全资子公司的公告" (announcement 2025-004, on establishing a wholly owned subsidiary to build an R&D and production base and southwest headquarters), 15 January 2025. pdf.dfcfw.com/...H2_AN202501141641921481_1.pdf
12. ^Xinhua Sichuan, "中微公司成都研发及生产基地暨西南总部项目开工", 17 October 2025. sc.news.cn/...c
13. ^Lam Research Corporation, revenue for the fiscal year ended 29 June 2025 as reported in its Form 10-K, via the SEC XBRL company concept API. data.sec.gov/...hCustomerExcludingAssessedTax.json
14. ^TrendForce, "Three Chinese Chip Toolmakers Reportedly Enter Global Top 20 as NAURA Rises to Fifth by Sales", 2 February 2026. trendforce.com/...as-naura-rises-to-fifth-by-sales
15. ^TrendForce, "China's Domestic Chip Equipment Adoption Beats 2025 Target at 35%, Led by NAURA, AMEC", 12 January 2026. trendforce.com/...5-target-at-35-led-by-naura-amec
16. ^AMEC, "Company Statement of Advanced Micro-fabrication Equipment Inc. China", PR Newswire, 5 February 2024. prnewswire.com/...on-equipment-inc-china-302052736
17. ^CourtListener docket records for Advanced Micro-Fabrication Equipment Inc. China v. U.S. Department of Defense, No. 1:24-cv-02357 (D.D.C., filed 14 August 2024, terminated 12 March 2025), and related 1260H and CCMC challenges. courtlistener.com/...-inc-china-v-us-department-of
18. ^Department of Defense, "Notice of Designation of Chinese Military Companies Under the William M. (Mac) Thornberry NDAA for FY21", 86 FR 33994, 28 June 2021. federalregister.gov/...ac-thornberry-ndaa-for-fy21
19. ^Department of Defense, "Notice of Availability of Designation of Chinese Military Companies", 89 FR 22698, 2 April 2024. federalregister.gov/...-chinese-military-companies
20. ^Department of Defense, "Notice of Removal of Designated Chinese Military Companies", 89 FR 102868, 18 December 2024. federalregister.gov/...-chinese-military-companies
21. ^Department of Defense, "Notice of Availability of Designation of Chinese Military Companies", 91 FR 35189, 10 June 2026. federalregister.gov/...-chinese-military-companies
22. ^Bureau of Industry and Security, "Additions and Modifications to the Entity List; Removals From the Validated End-User (VEU) Program", 89 FR 96830, 5 December 2024. federalregister.gov/...idated-end-user-veu-program
23. ^Electronic Code of Federal Regulations, 15 CFR Part 744, Supplement No. 4 (Entity List), current through 23 July 2026. ecfr.gov/...Supplement%20No.%204%20to%20Part%20744
24. ^Office of Foreign Assets Control, consolidated (non-SDN) sanctions list data file. sanctionslistservice.ofac.treas.gov/...lidated.xml
25. ^Bureau of Industry and Security, "Additions to the List of Validated End-Users in the People's Republic of China: Samsung China Semiconductor Co. Ltd. and Advanced Micro-Fabrication Equipment, Inc., China", 78 FR 41291, 10 July 2013. federalregister.gov/...blic-of-china-samsung-china
26. ^"Applied Materials and Advanced Micro-Fabrication Equipment, Inc. Settle Litigation and Resolve All Outstanding Disputes", PR Newswire, 21 January 2010. prnewswire.com/...ll-outstanding-disputes-82245447
27. ^"Veeco, AMEC and SGL Settle Patent Litigation", Veeco Instruments investor relations, 8 February 2018. ir.veeco.com/...default
28. ^知识产权律师网 (ciplawyer.cn), report on the final judgment of the Shanghai High People's Court in AMEC's trade secret case against Lam Research, July 2023. ciplawyer.cn/...150911
29. ^AMEC, 2023 Annual Report (2023年年度报告), 19 March 2024. pdf.dfcfw.com/...H2_AN202403181626977477_1.pdf
30. ^Executive Order 14032 of 3 June 2021, "Addressing the Threat From Securities Investments That Finance Certain Companies of the People's Republic of China", 86 FR 30145. federalregister.gov/...in-companies-of-the-peoples