[News] China’s 1H25 Chip Equipment Imports From Japan Dip 2.9% — Its Largest Source of Semiconductor Tools

According to ijiwei, Japan is China’s largest source of semiconductor equipment imports amid chip export curbs. Citing data from the General Administration of Customs, the report notes that in 2024, China imported a total of USD 47.066 billion in semiconductor equipment, with USD 14.3 billion coming from Japan, accounting for 30.4% of the total. In the first half of 2025, imports from Japan reached USD 6.399 billion, representing a 2.9% year-on-year decline.

The report points out that, according to statistics, from 2017 to 2024, Japan’s semiconductor equipment exports to China accounted for an average of about 32% of China’s total imports in this category. The share was slightly higher in 2017, but has edged down to around 30% over the past four years.

In terms of import value, the report notes that from 2019 to 2024, the figure generally showed an upward trend, with a compound annual growth rate of 6.4%, though it declined in 2022, falling 16.9% year-on-year.

In the second quarter of 2025, China’s semiconductor equipment imports from Japan reached USD 3.331 billion, representing a quarter-on-quarter increase of 8.6% and a year-on-year rise of 2.1%, as the report notes. The report points out that based on import data from Q1 2020 to Q2 2025, the fourth quarter of each year typically accounts for a higher share of annual imports, while imports in the third quarter of 2025 may see a slight decline.

China’s A-Share Chip Equipment Makers Surge in 1H25

Meanwhile, the report points out that China’s A-share-listed semiconductor equipment sector is showing steady progress. According to the report, in the first half of 2025, total revenue of A-share-listed equipment companies reached about 49.995 billion yuan (about USD 7.0 billion), up 30.9% year-on-year; net profit was approximately 7.417 billion yuan (about USD 1.05 billion), up 15.1%; and the average gross margin stood at around 43.5%.

The report notes that NAURA, Zhejiang Jingsheng Mechanical & Electrical, and AMEC ranked among the top three in total sales. In terms of net profit, ijiwei highlights Naura, ACM Research Shanghai, and AMEC as the top three performers. Notably, according to STAR Market Daily, ACM Research Shanghai reported that as of September 29, 2025, its orders on hand totaled 9.072 billion yuan, marking a 34.10% year-on-year increase.

Read more

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• [News] U.S. Lawmakers Say China Bought Nearly $40B in Chipmaking Gear Despite Export Curbs

(Photo credit: ACM Research Shanghai)