APAC Roundup: 2 February 2026
ACMR; Korea; Tokyo Ohka Kogyo, Taiyo Holdings, Fujibo; Precision engineering; CQME
Today’s roundup:
ACMR.
Samsung and Hynix projected to be most profitable companies in the world in 2027.
Japanese Samsung distributor ups forecasts due to memory prices.
Tokyo Ohka Kogyo, Taiyo Holdings, Fujibo.
Precision engineering.
UHV transformer demand.
ACMR: Sells 1% of ACM Shanghai; Nikkei article re Chinese localisation (Filing; Nikkei)
I’m told ACMR has been communicating its intention to sell small amount of ACM Shanghai to fund US operations.
H/T Kerem for this snippet of JPM’s August ‘25 note:
ACMR is now at ATHs. Market might be inferring that ACMR is expanding US capacity, suggesting progress with Intel.
There was a lot of excitement over Sandisk last week, with PTs in the 800 to 1000 and downside to 500s. One can make the argument that ACMR is a similar or more attractive opportunity.
Not news if you’re following X, but:
Nikkei examined data on sales of semiconductor-related equipment from Japanese research company Global Net, comparing the rankings in 2022, before the U.S. curbs were imposed, to estimated figures for 2025.
Three Chinese companies were among the world’s top 20 manufacturers of chipmaking equipment last year, up from just one in 2022…
Extending the list to the top 30 adds two more Chinese names: ACM Research and Hwatsing Technology.
“China now makes 20% to 30% of its semiconductor equipment locally,” said Tetsuo Omori, senior analyst at Japan’s Techno Systems Research. “That’s a rapid increase from around 10% three years ago.”
Chinese players “are now able to cover every process, including deposition, etching and cleaning,” said an executive at a specialized trading company that supplies components to Chinese manufacturers.
ASML gets a mention at the end:
Chinese manufacturers currently have yet to develop the extreme ultraviolet lithography equipment needed for 2-nm and 3-nm chips, which is now only available from ASML. ASML CEO Christophe Fouquet said last April that "it will take many, many years for China to be able to make an EUV machine."
Samsung and SK Hynix: MS forecasts that they will become the most profitable companies on Earth
Samsung and SK Hynix to generate more profit in 2027 than Google or peak Aramco?
