Company at a glance
Scale
Revenue up 95% since FY2023
Growth prospects
Expanding customer base and product roadmap
via money.finance.sina.com.cn ↗Revenue of RMB 905 million in 2024, up 31.05% YoY; net profit of RMB 334 million, up 32.69% YoY; R&D spending of RMB 172 million, 19.04% of revenue.via static.cninfo.com.cn ↗Revenue of RMB 1.35 billion in 2025, up 48.72% YoY; net profit attributable of RMB 536 million, up 60.55% YoY; gross margin of 73.81%; proposed distr…Official filings: static.cninfo.com.cn ↗ · FY2024 annual report (Sina disclosure) ↗ · FY2025 annual report summary (CNINFO PDF) ↗
All sourced facts (7)
- Founding and HQ: Founded in February 1993 and registered in Beijing's Zhongguancun science park; headquartered in Haidian District, Beijing, with AccoTEST Technology (Tianjin) Co., Ltd. as a production base. via baike.baidu.com ↗
- Listing: Listed on the Shanghai Stock Exchange STAR Market on February 18, 2020 (688200.SH), issuing 15.2963 million shares at RMB 107.41 each for total proceeds of RMB 1.64 billion. via hftc.com.cn ↗
- Entity List status: Added to the US Commerce Department Entity List in December 2024 as part of a batch of roughly 136 Chinese semiconductor-related entities; the company stated that materials are in stock, procurement is normal and the business impact is limited. via m.cls.cn ↗
- FY2024 results: Revenue of RMB 905 million in 2024, up 31.05% YoY; net profit of RMB 334 million, up 32.69% YoY; R&D spending of RMB 172 million, 19.04% of revenue. via money.finance.sina.com.cn ↗
- FY2025 results: Revenue of RMB 1.35 billion in 2025, up 48.72% YoY; net profit attributable of RMB 536 million, up 60.55% YoY; gross margin of 73.81%; proposed distribution of RMB 11.9 per 10 shares plus a 4.8-for-10 capitalization issue. via static.cninfo.com.cn ↗
- Customer base: The main test-equipment supplier to China's three largest OSAT firms in analog and mixed-signal test, with systems used across IC design, manufacturing and packaging-test stages. via money.finance.sina.com.cn ↗
- STS8600 progress: The STS8600, launched in 2023 for SoC test with higher channel counts and a distributed multi-site control architecture, was reported in 2025 to be in validation at domestic compute-chip firms including Hygon (海光信息), Biren (壁仞科技) and Moore Threads (摩尔线程), with first volume GPU/CPU orders anticipated as the next catalyst. via wap.eastmoney.com ↗
About
Sells STS-series testers and related services to OSATs, IDMs and fabless chip companies; it is the principal analog and mixed-signal test-equipment supplier to China's three largest packaging and test firms.
Why it matters
Domestic ATE substitution is a chokepoint story: AccoTEST was added to the US Entity List in December 2024 yet grew net profit 60.55% in 2025, and its STS8600 is positioned as the local test platform for China's GPU and CPU makers.
Where it sits in the stack
equipment
Key semiconductor products
- STS8200 analog and mixed-signal ATE platform
- STS8300 power-module and extended-capability testers
- STS8600 high-channel-count SoC and compute (CPU/GPU/DPU) test system
- semiconductor test systems
Financials
688200.SS · Shanghai STAR Market 688200.SS · via Yahoo Finance ↗
Financial trajectory via annual filings via Yahoo Finance
RMB billionsMarket data refreshed daily; annual figures from exchange filings. Figures in the reporting currency shown on the chart.
Ecosystem
Global peer set
- Teradyne (US)
- Advantest (Japan)
Competitive position
- China's leading domestic ATE supplier and the principal analog/mixed-signal tester vendor to the country's three largest OSAT companies (FY2024 annual report)
- Reported 2025 order intake of about RMB 1.4 billion with the STS8200 holding roughly 70% of its domestic segment; competes globally with Teradyne and Advantest and domestically with Changchuan Technology (长川科技)
- Domestic test-equipment vendor; technology gap versus imported ATE platforms not assessable from available signals.
- Test-equipment domestic substitution; qualification and repeat placement at Chinese fabs and OSATs is the key adoption gate.
- Global comparables: Teradyne (US)
- Global comparables: Advantest (Japan)
Milestones and signals
- 2020—Listed on the Shanghai Stock Exchange STAR Market on February 18, 2020 (688200.SH), issuing 15.29…
- 2020—IPO Proceeds: RMB 1.64 billion raised at RMB 107.41 per share
- 2026-10-04—Market cap: RMB 75.2B
- FY2025—Revenue: RMB 1.3B
- FY2025—Net Profit: RMB 536M
What to watch
- First volume orders for the STS8600 from domestic CPU and GPU makers after 2025 validation cycles
- Supply-chain localization following the December 2024 Entity List addition
- Tianjin production-capacity buildout supported by convertible-bond funding
Questions
Last reviewed 2026-07-11Answered questions
What is the measurable gap versus global reference companies?
Against Teradyne (US) and Advantest (Japan): Domestic test-equipment vendor; technology gap versus imported ATE platforms not assessable from available signals.
Open questions
- Which products are qualified beyond pilots in equipment?
- Which customers, fabs, or end markets show real adoption rather than policy interest?