NAURA delivered robust revenue growth in its integrated circuit equipment business throughout 2025. For the full year 2025, the company achieved total operating revenue of RMB 39.35 billion, representing a 30.85% year‑over‑year increase. Net profit attributable to parent shareholders reached RMB 5.52 billion, down 1.77% year over year. Driven by steadily rising market penetration across multiple core equipment products, the company’s integrated circuit equipment revenue surged more than 50% year over year, emerging as the primary engine for its top‑line expansion.
The mild year‑over‑year decline in net profit stemmed from rising operating expenses due to expanded R&D investment and workforce scaling. Additionally, increased iteration and upgrade costs for components during customer verification of newly launched products weighed on profitability. As a result, the company’s gross margin contracted from 42.93% to 40.10% in 2025.
Benefiting from continuous market share gains across its diversified equipment portfolio, NAURA maintained solid growth momentum in Q1 2026. The company generated Q1 revenue of RMB 10.32 billion, up 25.80% year over year, with attributable net profit reaching RMB 1.64 billion, representing a 3.42% annual increase. For the quarter, gross margin stood at 40.77% and net margin at 15.19%.
Net profit growth lagged revenue expansion mainly due to substantial R&D spending increases. NAURA’s Q1 2026 R&D expenses totaled RMB 1.40 billion, rising RMB 376 million or 36.64% year over year, as the company intensified technological innovation and product iteration.
Booming AI‑driven semiconductor demand and accelerated downstream capacity expansion, combined with advancing domestic substitution, are poised to sustain robust order growth for NAURA. On one hand, high‑growth emerging AI applications have fueled robust capital spending on computing chips, HBM, and advanced memory devices, driving strong downstream wafer fab capacity expansion demands. On the other hand, China’s semiconductor localization process continues to accelerate, with domestic wafer fabs expanding verification coverage and significantly speeding up the qualification and mass adoption of homegrown semiconductor equipment.
As a leading domestic platform‑based semiconductor equipment supplier, NAURA boasts a comprehensive product portfolio covering etching, thin‑film deposition, thermal processing, wet cleaning, ion implantation, electroplating, and bonding systems. Its one‑stop platform layout effectively reduces customers’ procurement costs, improves process synergy and operational efficiency, and strengthens long‑term customer stickiness.
In 2025, NAURA completed the merger and integration of KingSheet Technology, filling its product gap in photoresist coating and developing equipment. The strategic acquisition further consolidates its full‑platform product capabilities, laying a solid foundation for sustained long‑term growth and expanded market penetration in China’s semiconductor equipment sector.
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