In the current international situation and trade environment, the semiconductor industry has become a “strategic fortress” in the great power game. This “heart” of modern industry carries the lifeblood of future industries such as artificial intelligence and quantum computing, and it also determines the foundation of national information security and industrial safety.
As the tide of de-globalization brings about technological blockades, the domestic semiconductor industry has forged its own innovation in the face of these challenges. The industry’s breakthrough relies not only on strong national support but also on the hard work of enterprises themselves. Only with large-scale profitability and self-sustaining capabilities can they maintain substantial R&D and capital expenditures, ensuring they remain competitive in the future.
This article provides a comprehensive overview of the top ten companies in the semiconductor industry with the strongest profitability in the first quarter of 2025, representing a beacon of hope for the rise of domestic semiconductors.
// 1. North Huachuang (002371)
Q1 Net Profit: 1.42 billion – 1.74 billion yuan (taking the median of 1.58 billion yuan), year-on-year growth: +24.69%~+52.79%.
Main Business: Full industry chain layout of semiconductor equipment, including etching machines, thin film deposition equipment (PVD/CVD), cleaning equipment, etc., covering advanced processes of 14nm and below.
Competitive Advantage: Leading domestic semiconductor equipment manufacturer, with a localization rate exceeding 30%, significant platform advantages; supported by the National Big Fund, technology benchmarks against international giants like Applied Materials.
// 2. SMIC (688981)
Q1 Net Profit: Not yet disclosed for Q1 (reference net profit of 3.233 billion yuan in Q3 2024, estimated to remain at the forefront in Q1 2025).
Main Business: Wafer foundry services, covering fields such as smartphones and automotive electronics, with mass production of 14nm processes.
Competitive Advantage: Absolute leader in domestic wafer manufacturing, with clients including Huawei and Qualcomm; leading in mature process technology, with local manufacturing demand driving growth.
// 3. Will Semiconductor (603501)
Q1 Net Profit: 866 million yuan, year-on-year growth: +55.25%
Main Business: CMOS image sensors (third in global market share), automotive electronic chips, used in high-end smartphones and new energy vehicles.
Competitive Advantage: Integration of OmniVision technology, with automotive electronics revenue increasing to 20%; products benchmark against Sony, accelerating domestic substitution.
// 4. Haiguang Information (688041)
Q1 Net Profit: 506 million yuan, year-on-year growth: +75.33%
Main Business: High-end processors (CPU/DCU) for servers, performance benchmarks against AMD and Intel.
Competitive Advantage: Supported by the Chinese Academy of Sciences, with explosive orders in the Xinchuang sector; gross margin exceeding 60%, products covering government cloud and supercomputing centers.
// 5. Lattice Semiconductor (688008)
Q1 Net Profit: 525 million yuan, year-on-year growth: +135.14%
Main Business: DDR5 memory interface chips and server platform solutions.
Competitive Advantage: Global leader in memory interface chips, benefiting from surging AI server demand; rapid increase in DDR5 penetration, with orders exceeding 1.29 billion yuan.
// 6. Cambricon (688256)
Q1 Net Profit: 355 million yuan, year-on-year turnaround to profitability.
Main Business: AI chip design, MLU370-X8 chip used for large model training and supercomputing centers.
Competitive Advantage: Core domestic computing power target, with technology being self-controllable; gross margin increased to 55.99%, with bulk shipments to leading customers.
// 7. Changdian Technology (600584)
Q1 Net Profit: 203 million yuan, year-on-year growth: +50.39%.
Main Business: High-end packaging technology (4nm chip packaging, 3D packaging), with clients including Apple and NVIDIA.
Competitive Advantage: Global leader in packaging and testing, with capacity utilization reaching 90%; shares held by SMIC, significant synergy effects.
// 8. Zhongwei Company (688012)
Q1 Net Profit: 313 million yuan, year-on-year growth: +25.67%.
Main Business: Plasma etching equipment (for processes below 5nm), MOCVD equipment (for LED chip manufacturing).
Competitive Advantage: Over 25% market share in etching equipment, entering TSMC’s supply chain; technology benchmarks against Lam Research, accelerating domestic substitution.
// 9. GigaDevice (603986)
Q1 Net Profit: 235 million yuan, year-on-year growth: +14.57%.
Main Business: NOR Flash memory chips (third globally), automotive-grade MCU chips.
Competitive Advantage: Core enterprise in the localization of memory chips, automotive products certified by AEC-Q100; shares held by the National Big Fund, with high technical barriers.
// 10. Rockchip (603893)
Q1 Net Profit: 209 million yuan, year-on-year growth: +209.65%.
Main Business: AIoT processor chips, used in automotive electronics, industrial automation, and other fields.
Competitive Advantage: Optimized product structure, driven by AIoT demand; gross margin increased to 40.95%, with technology covering edge computing scenarios.
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