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Jingyi Equipment (京仪装备)京仪装备

688652Founded 2016Beijingbaecltd.com.cnReviewed 2026-08-30

Beijing state-owned supplier of semiconductor support equipment: temperature-control units (recirculating chillers) for diffusion/CVD/etch tools, process exhaust-gas abatement systems, and wafer transfer equipment. Listed on the STAR Market on 2023-11-29 (688652.SS) as the first STAR listing of Beijing Jingyi Group (Beijing SASAC / Beijing Enterprises control system). FY2025 revenue was RMB 1.43B (+38.95% YoY); net profit RMB 148M (-3.26% YoY).

Scale

~$198.4Mrevenue FY2025 · CNY 1.4B
~$3.1Bmarket cap · 2026-10-04
1,016employees · 2025

Gap vs frontier

—gap not quantified

Jingyi Equipment (京仪装备).

Company at a glance

Scale

Revenue up 92% since FY2023

Growth prospects

Expanding customer base and product roadmap

via money.finance.sina.com.cn ↗Revenue RMB 1.43B (+38.95% YoY); net profit RMB 148M (-3.26% YoY); temperature-control equipment RMB 937M, gas-abatement equipment RMB 348M, wafer-tr…via pdf.dfcfw.com ↗Only domestic company in volume production of semiconductor-specific temperature-control equipment, per a 2024 broker study of the segment

Official filings: static.sse.com.cn ↗ · static.sse.com.cn ↗ · static.sse.com.cn ↗ · FY2025 annual report (Sina Finance) ↗

All sourced facts (7)
  • Listing status: SSE STAR Market · 688652 · A shares
  • Founded / HQ: Company established 2016-06-30 (converted to a joint-stock company 2021-03-29), Beijing E-Town (Yizhuang) via m.qcc.com ↗
  • Listing: STAR Market, 688652.SS, 2023-11-29; 42M shares at RMB 31.95, first-day gain about 74% via baecltd.com.cn ↗
  • FY2025 results: Revenue RMB 1.43B (+38.95% YoY); net profit RMB 148M (-3.26% YoY); temperature-control equipment RMB 937M, gas-abatement equipment RMB 348M, wafer-transfer equipment RMB 36M via money.finance.sina.com.cn ↗
  • Market position: Only domestic company in volume production of semiconductor-specific temperature-control equipment, per a 2024 broker study of the segment via pdf.dfcfw.com ↗
  • H1 2025: Revenue RMB 735M (+45.38% YoY) on strong semiconductor equipment demand via baecltd.com.cn ↗
  • Export-control status: Not identified among the A-share companies named in media tallies of the December 2024 US Entity List additions via wabei.cn ↗

About

Sells fab-side utility equipment direct to wafer makers (including memory fabs) and as pre-installed配套 units to front-end tool OEMs, plus spare parts and maintenance services; temperature control is about two-thirds of revenue.

Beijing · Founded 2016 · Ticker 688652

Why it matters

Chillers and gas abatement attach to nearly every process tool in a fab, and Jingyi is the only Chinese company in volume production of semiconductor-grade temperature control equipment, giving it a leveraged position on domestic fab build-outs with limited direct foreign competition at the utility layer.

Where it sits in the stack

equipment

Key semiconductor products

  • Semiconductor-specific temperature-control equipment·chillers for process tools
  • Semiconductor process exhaust-gas treatment (abatement) equipment
  • Wafer transfer equipment·wafer handling/flip modules
  • Spare parts, support equipment and maintenance services

Financials

688652.SS · Shanghai STAR Market 688652.SS · via Yahoo Finance ↗

Financial trajectory via annual filings via Yahoo Finance

RMB billions
RMB 0.74BRMB 0.12B
2023
RMB 1.03BRMB 0.15B
2024
RMB 1.43BRMB 0.15B
2025

Market data refreshed daily; annual figures from exchange filings. Figures in the reporting currency shown on the chart.

Ecosystem

Global peer set

  • Fine Semitech / FST (Korea, chillers)
  • Edwards Vacuum (abatement)
  • Cymechs / Robostar (Korea, wafer transfer)

Competitive position

  • Domestic volume leader and only scaled Chinese producer of semiconductor temperature-control units, serving both fabs directly and tool OEMs as pre-installed supplier
  • Revenue grew 38.95% in FY2025 on domestic fab construction, with temperature control about 65% of sales
  • SOE pedigree under Beijing Jingyi Group gives stability but net profit dipped 3.26% in FY2025 despite volume growth
  • Global comparables: Fine Semitech / FST (Korea, chillers)
  • Global comparables: Edwards Vacuum (abatement)
  • Global comparables: Cymechs / Robostar (Korea, wafer transfer)

Milestones and signals

  • 2016—Jingyi Equipment (京仪装备) was founded.
  • 2025—Employees At End-2025: CNY 1,016
  • 2026-10-04—Market cap: RMB 22.0B
  • FY2025—Revenue: RMB 1.4B
  • FY2025—Net Profit: RMB 148M
  • Listing—SSE STAR Market · 688652 · A shares

What to watch

  • Margin trajectory as lower-margin gas-abatement and parts mix grows
  • Share of Chinese fab tool installs that carry domestic chillers versus imported units
  • Wafer-transfer equipment scale-up from a RMB 36M base in FY2025

Questions

Last reviewed 2026-07-11

Answered questions

What is the measurable gap versus global reference companies?

Domestic volume leader and only scaled Chinese producer of semiconductor temperature-control units, serving both fabs directly and tool OEMs as pre-installed supplier.

Open questions

  • Which products are qualified beyond pilots in equipment?
  • Which customers, fabs, or end markets show real adoption rather than policy interest?