Multi-billion boost powers China’s 2025 chip equipment drive, led by Piotech and AMEC

One key aspect of China’s semiconductor sector is its massive investment drive. In 2025, TrendForce notes, national strategic priorities have focused on overcoming bottlenecks in advanced manufacturing processes and meeting the demands of high-volume production (HVM).

According to industry sources, in September 2025, China’s National Integrated Circuit Industry Investment Fund (Phase III) — through SDIC Jixin (Beijing) Equity Investment Fund — invested up to 450 million yuan in Tuojing Jianke, a subsidiary of Piotech. Tuojing Jianke specializes in advanced bonding equipment for 3D integration, including hybrid and fusion bonding systems, as well as related metrology tools.

By channeling national strategic capital into 3D integration equipment, TrendForce highlights, the Phase III Fund underscores 3D integration as a key potential breakthrough for sustaining China’s semiconductor competitiveness under external constraints.

Equipment investment surge: Piotech and AMEC lead expansion
Several leading equipment manufacturers have raised billions of yuan in 2025 to support large-scale capacity expansion and advanced technology R&D, TrendForce notes. Piotech reportedly announced a 4.6 billion yuan private placement, primarily for constructing a high-end semiconductor equipment industrialization base.

The scale of this funding suggests that China’s domestically produced thin-film deposition tools (CVD/ALD) have already gained broad customer acceptance. TrendForce indicates that the current focus is shifting from technology verification to large-scale, standardized production — to meet the rapidly expanding capacity needs of domestic wafer fabs and accelerate the replacement of imported tools.

Meanwhile, AMEC’s capital injection strategy is also deepening. In April 2025, the company increased its registered capital from 1 billion to 4 billion yuan — a 300% rise — to support the development of advanced process equipment.

Testing innovation and ecosystem investment
In the testing segment, Changchuan Technology plans to raise 3.132 billion yuan, with over 2.1 billion yuan allocated to the R&D of semiconductor testers and AOI equipment. Driven by AI chips and high-performance memory, demand for greater testing precision and speed continues to grow.

TrendForce notes that Changchuan’s fund-raising underscores the accelerating progress of domestic substitution in China’s high-end testing segment within the semiconductor packaging and testing industry.

In addition, on the industrial ecosystem front, in September 2025, the first phase of the JMicron Fund — managed by Shanghai Zhiwei Private Equity Fund Management and backed by AMEC — was launched with an initial scale of 1.5 billion yuan. The fund aims to support upstream and downstream players — particularly core component and material suppliers, as well as early-stage innovation projects — through equity investment.

Source: TrendForce, Taiwan.