[News] China’s Chip Tool Maker SiCarrier Reportedly Hits RMB65B Valuation, Secures Billion-Yuan Orders

According to Chinese media outlet Jiemian, China’s 13th Semiconductor Equipment, Core Components, and Materials Expo (CSEAC 2025) was held from September 4 to 6. Notably, SiCarrier—recognized for showcasing a broad range of semiconductor manufacturing equipment at SEMICON China earlier this year—also participated in the event.

As noted by Jiemian, sources state that the company currently has orders exceeding RMB 10 billion, with customers including China’s largest foundries SMIC and Hua Hong.

Rapid Growth Reportedly Pushes SiCarrier Toward RMB 65B Valuation

The company’s outlook is said to be strong. Sources cited by Jiemian indicate that SiCarrier (excluding lithography equipment) is expected to post revenue of RMB 4.5 billion this year, rising to RMB 7.5 billion in 2026 and RMB 16.9 billion in 2028. By 2027, the company is projected to achieve RMB 2 billion in profit and move ahead with its IPO.

Notably, the company is reportedly in its second round of external financing and, in just three years, has reached a valuation of RMB 65 billion (excluding lithography), as indicated by STAR Market Daily.

SiCarrier is reportedly set to accelerate equipment mass production next year, particularly for advanced process semiconductor tools, with order volumes expected to rise sharply, as Jiemian highlights. In addition, the company has reportedly established a test facility in Shanghai to speed up testing of domestic equipment.

SiCarrier Targets Gaps in China’s Advanced Equipment Market

The semiconductor tool maker is reportedly a state-backed company working with Huawei, as indicated by Bloomberg. Jiemian claims that in just a few years, SiCarrier has developed products covering all segments of front-end semiconductor manufacturing equipment, including process metrology, etching, and thin-film deposition. Reuters reports that SiCarrier and its parent have filed 92 patents, including those for DUV lithography components and multi-patterning techniques—key to narrowing China’s gap in EUV tools.

As Jiemian notes, China’s semiconductor equipment market reached USD 49.6 billion in 2024, up 35% year-on-year, maintaining its global lead for five consecutive years. Yet the localization rate for nine categories of key front-end equipment remains under 10%, and for 7nm and below, nearly zero. The report highlights that SiCarrier is targeting this high-end market gap for rapid growth.

Read more

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(Photo credit: SiCarrier)