Company at a glance
Scale
Revenue up 102% since FY2023
Growth prospects
Expanding customer base and product roadmap
via eeo.com.cn ↗Supplies SMIC, YMTC (Yangtze Memory), Hua Hong, China Resources Micro, TSMC and UMCvia eeo.com.cn ↗China's Big Fund (National IC Industry Investment Fund) was the second-largest shareholder at IPO with 15.43%China competition
Competes with Hwatsing, GEGV (Jingyi Jingwei), SIZONE, Dinglong Co. in CMP polishing tools — peers listed at sector level.
Close behindGlobal comparables
Global reference set: Applied Materials, Ebara.
DuPont (CMP slurries and pads)Technical gap
Sector rated close behind vs the frontier.
Obstacles
Sector bottleneck applies
Advanced-node process coverage, endpoint detection, ultra-uniform polishing, cleaning, consumable consistency, and long fab qualification cycles.Official filings: static.cninfo.com.cn ↗ · Anji FY2025 annual report (CNINFO) ↗ · Anji FY2024 annual report (Sina Finance) ↗ · Sofres/convertible bond filing on global slurry share ↗
All sourced facts (9)
- Listing status: Shanghai Stock Exchange STAR Market · 688019 · A-shares
- Founding: Incorporated February 7, 2006 in Shanghai; founder and chairman Shumin Wang via eeo.com.cn ↗
- Listing: Listed on the STAR Market July 22, 2019 as one of the first 25 STAR Market companies, ticker 688019 via money.finance.sina.com.cn ↗
- Customers: Supplies SMIC, YMTC (Yangtze Memory), Hua Hong, China Resources Micro, TSMC and UMC via eeo.com.cn ↗
- Shareholders at IPO: China's Big Fund (National IC Industry Investment Fund) was the second-largest shareholder at IPO with 15.43% via eeo.com.cn ↗
- Global share: Company disclosure based on TECHCET market sizing puts its global CMP slurry share at about 5%, 7% and 8% over the three years preceding its 2023 convertible bond filing via money.finance.sina.com.cn ↗
- Competitive landscape: Five US and Japanese firms (CMC Materials/Entegris, DuPont, Fujimi, Hitachi and peers) hold roughly 80% of the global CMP slurry market via bg.qianzhan.com ↗
- Capacity build-out: Ningbo Anji CMP slurry construction project ongoing per the FY2025 annual report via static.cninfo.com.cn ↗
- Momentum: First-half 2026 revenue RMB 1.526bn, up 33.72%, with net profit RMB 532mm, up 41.56% via emcreative.eastmoney.com ↗
About
Designs and manufactures CMP slurries (copper, tungsten and other processes) plus functional wet chemicals such as post-etch cleaning solutions, photoresist strippers for wafer-level packaging and post-CMP cleaners, selling to leading wafer fabs in China and Taiwan.
Ticker 688019
Why it matters
Anji broke the US-Japan oligopoly in CMP slurries inside China and is the main domestic alternative to DuPont, Entegris (CMC Materials), Fujimi and Hitachi as fabs localize supply.
Where it sits in the stack
CMP polishing equipment
Advanced-node process coverage, endpoint detection, ultra-uniform polishing, cleaning, consumable consistency, and long fab qualification cycles.
Materials: wafers, photoresist, gases, CMP
High-purity inputs, advanced photoresists, repeatability, qualification cycles, and dependence on Japanese/US specialty suppliers.
Key semiconductor products
- CMP polishing slurries·copper, tungsten and advanced-node processes; tungsten slurries in volume ramp
- Functional wet electronic chemicals·post-etch cleaning solutions, wafer-level-packaging photoresist strippers, post-CMP cleaners
- Photoresist removers for IC manufacturing and advanced packaging
Financials
688019.SS · Shanghai Stock Exchange STAR Market 688019.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
- DuPont (CMP slurries and pads)
- Entegris (via CMC Materials acquisition)
- Fujimi and Hitachi (Japan)
Competitive position
- China's leading CMP slurry supplier and the principal domestic substitute for US and Japanese slurry makers
- Global slurry share around 8% per company disclosure, rising from about 5% three years earlier
- Functional wet chemicals the fastest-growing segment: FY2024 revenue up 78.91% to about RMB 313mm per the FY2024 annual report
- Key bottleneck is unconfirmed: without identified products, customers, or qualification progress, it is unclear whether Anji addresses a supply-chain bottleneck or occupies a substitute role.
- Global comparables: DuPont (CMP slurries and pads)
- Global comparables: Entegris (via CMC Materials acquisition)
- Global comparables: Fujimi and Hitachi (Japan)
Milestones and signals
- 2023—Global CMP Slurry Market Share: USD 约8%
- 2026-10-04—Market cap: RMB 48.2B
- FY2025—Revenue: RMB 2.5B
- FY2025—Net Profit: RMB 784M
- Listing—Shanghai Stock Exchange STAR Market · 688019 · A-shares
What to watch
- Share gains toward the 30-40% domestic slurry share range management has projected
- Ningbo slurry plant ramp and overseas expansion noted in FY2025 reporting
- TECHCET projects global CMP materials growing from USD 3.8bn (2025) toward USD 4.2bn (2026), expanding the addressable pool
Questions
Last reviewed 2026-07-11Answered questions
What is the measurable gap versus global reference companies?
China's leading CMP slurry supplier and the principal domestic substitute for US and Japanese slurry makers.
Open questions
- Which products are qualified beyond pilots in materials?
- Which customers, fabs, or end markets show real adoption rather than policy interest?