Naura Technology posted strong first-half 2025 results on August 28, with revenue climbing 29.5% year-over-year to CNY16.142 billion (approx. US$2.26 billion). Net profit attributable to shareholders rose 15% to CNY3.208 billion, while adjusted net profit advanced 20.2% to CNY3.18 billion. Earnings per share increased 14.2% to CNY4.45.
The revenue increase was largely driven by stronger order volumes, according to filings cited by Cninfo, Yicai Global, and CLS. Despite the top-line growth, operating cash flow swung deeper into the red, with a net outflow of CNY3.191 billion versus CNY314 million a year earlier. Naura attributed the decline to heavier R&D spending, larger order execution costs, and acquisition-related expenses. Investment cash flow also deteriorated, plunging 252% to negative CNY2.398 billion.
R&D spending surges, expanding technology footprint
Naura boosted R&D investment to CNY2.915 billion in the first half, a 30% year-over-year increase. The company has filed over 9,900 patents and holds more than 5,700 approvals, keeping its position as China's leading semiconductor equipment innovator.
Naura reached major production milestones, delivering its 1,000th vertical furnace and physical vapor deposition (PVD) tool. Along with etching systems, which previously crossed the same benchmark, the company now counts three flagship product lines with shipments surpassing 1,000 units each.
The company also introduced new products such as ion implantation tools, electroplating systems, a 12-inch advanced LPCVD vertical furnace, multi-wafer 8-inch SiC epitaxy equipment, and GaN/GaAs MOCVD systems. The expanded portfolio broadens Naura's process coverage and strengthens its competitiveness in China's semiconductor equipment market.
Naura takes control of Kingsemi in CNY3.135B deal
In June, Naura acquired a 17.87% stake in Kingsemi Co. for CNY3.135 billion in cash, becoming its largest shareholder. Completed through two share purchase agreements, the deal granted Naura effective control by securing a board majority, including four non-independent directors and one independent director.
Kingsemi, a leading maker of photoresist coating and developing equipment, adds complementary strengths to Naura's etching and thin-film deposition portfolio. The acquisition is expected to generate synergies, enabling more integrated semiconductor process solutions. Naura said collaboration will extend to R&D, supply chains, and customer resources, enhancing competitiveness and shareholder value.
Article edited by Jack Wu
