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Nata Opto-electronic

300346.SZFounded 2000Reviewed 2026-08-30

Jiangsu Nata Opto-Electronic Material, founded December 2000 in Suzhou from Nanjing University MO-source technology under the national 863 Program and 02 Special Project, listed on Shenzhen ChiNext in August 2012. It is the world's only company mass-producing the full range of metal-organic (MO) sources with over 40% global share, and the only Chinese company simultaneously mass-producing MO sources, electronic specialty gases, ALD precursors and ArF (193nm) photoresist. FY2025 revenue was RMB 2.59 billion with net profit of RMB 320 million, up 18% year over year.

Scale

~$359.7Mrevenue FY2025 · CNY 2.6B
~$4.8Bmarket cap · 2026-10-04

Gap vs frontier

Substitutesector position

Sector-level position; no priceable accelerator silicon to compare chip-by-chip.

Nata Opto-electronic: substitute tier in Materials: wafers, photoresist, gases, CMP, ~$359.7M FY2025 revenue.

The chip stackEach layer depends on the layers below it
1 · ChipsWhat the stack produces
2 · Design toolsSoftware and IP to design them
3 · ManufacturingPlants that turn designs into silicon
4 · EquipmentMachines inside the plants
5 · MaterialsWhat the plants consume
Materials · Substitute

Company at a glance

Scale

Revenue up 52% since FY2023

Growth prospects

Expanding customer base and product roadmap

via chem.nju.edu.cn ↗Listed on Shenzhen Stock Exchange ChiNext on 2012-08-07 at an IPO price of RMB 66 per share (300346)via pdf.dfcfw.com ↗Only company in the world achieving mass production of the full MO source series; roughly 40% global market share and over 60% domestic share

China competition

Competes with National Silicon, Anji Microelectronics, Dinglong Co., Jingrui in Materials — peers listed at sector level.

Substitute

Global comparables

Global reference set: Shin-Etsu, SUMCO, JSR.

Nouryon / Lake Materials / TOMA (MO sources)

Technical gap

Sector rated substitute vs the frontier.

Obstacles

Sector bottleneck applies

High-purity inputs, advanced photoresists, repeatability, qualification cycles, and dependence on Japanese/US specialty suppliers.

Official filings: Nata FY2025 annual report summary (CNINFO) ↗

All sourced facts (7)
  • Founded / HQ: Registered 2000-12-28, headquartered in Suzhou, Jiangsu; born from the national 863 Program and grown through the 02 National Science and Technology Major Project via nju.edu.cn ↗
  • Listing: Listed on Shenzhen Stock Exchange ChiNext on 2012-08-07 at an IPO price of RMB 66 per share (300346) via chem.nju.edu.cn ↗
  • MO source position: Only company in the world achieving mass production of the full MO source series; roughly 40% global market share and over 60% domestic share via pdf.dfcfw.com ↗
  • Four-product breadth: Only Chinese company simultaneously mass-producing MO sources, electronic specialty gases, ALD precursors and ArF photoresist via pdf.dfcfw.com ↗
  • ArF photoresist program: Won the national 02 Special Project for 193nm photoresist in 2017, industrialized through subsidiary Ningbo Nata; volume production and customer adoption accelerated through 2025 via pdf.dfcfw.com ↗
  • FY2025 results: Revenue RMB 2.585 billion; net profit RMB 320 million, +18% YoY; proposed cash dividend RMB 193.5 million via static.cninfo.com.cn ↗
  • 2026 momentum: Q1 2026 non-GAAP (扣非) net profit up 38.61% year over year via pdf.dfcfw.com ↗

About

Develops and mass-produces high-purity semiconductor process materials — MO sources and advanced precursors for MOCVD/ALD, electronic specialty gases, and 193nm ArF photoresist — selling to LED, power/compound-semiconductor and IC fabs, with an A-share listing funding capacity expansion.

Founded 2000

Why it matters

Nata sits on several import-substitution chokepoints at once: it is the global leader in MO sources (gallium/indium organometallics essential to LED and compound-semiconductor epitaxy), a key domestic supplier of specialty gases and high-k/metal ALD precursors for advanced logic and memory, and one of the first Chinese firms producing 193nm ArF photoresist at volume, a segment otherwise controlled by JSR, TOK and Shin-Etsu.

Where it sits in the stack

Materials

Materials: wafers, photoresist, gases, CMP

Substitute

High-purity inputs, advanced photoresists, repeatability, qualification cycles, and dependence on Japanese/US specialty suppliers.

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Key semiconductor products

  • Advanced precursors including MO sources (TMGa, TMIn, TMAl, TEGa) for LED, III-V power/RF and advanced IC processes·2024 precursor segment revenue about RMB 578 million·2024
  • Electronic specialty gases for etching/deposition in IC fabs·core 2025 revenue base with rising gross margin·2025
  • ALD/CVD high-k and metal precursors for advanced logic and memory
  • ArF (193nm) photoresist via Ningbo Nata·02 Special Project

Financials

300346.SZ · Shenzhen ChiNext 300346.SZ · via Yahoo Finance ↗

Financial trajectory via annual filings via Yahoo Finance

RMB billions
RMB 1.7BRMB 0.21B
2023
RMB 2.35BRMB 0.27B
2024
RMB 2.59BRMB 0.32B
2025

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

Ecosystem

Global peer set

  • Nouryon / Lake Materials / TOMA (MO sources)
  • Entegris / Versum, Adeka, SMS Group units (precursors and specialty gases)
  • JSR, Tokyo Ohka Kogyo, Shin-Etsu Chemical (ArF photoresist)

Competitive position

  • Global number one in MO sources by share (about 40% global, over 60% domestic), the only full-series mass producer
  • Domestic specialty-gas and precursor supplier scaling into advanced-node fabs as Chinese fabs localize supply
  • ArF photoresist in volume ramp, positioned as the second growth curve alongside the precursor/gas base
  • Global comparables: Nouryon / Lake Materials / TOMA (MO sources)
  • Global comparables: Entegris / Versum, Adeka, SMS Group units (precursors and specialty gases)
  • Global comparables: JSR, Tokyo Ohka Kogyo, Shin-Etsu Chemical (ArF photoresist)

Milestones and signals

  • 2000—Nata Opto-electronic was founded.
  • 2012—Listed on Shenzhen Stock Exchange ChiNext on 2012-08-07 at an IPO price of RMB 66 per share (300346)
  • 2025—MO Source Global Market Share: About 40%
  • 2026-10-04—Market cap: RMB 34.2B
  • FY2025—Revenue: RMB 2.6B
  • FY2025—Net Profit: RMB 320M

What to watch

  • ArF photoresist customer qualification breadth across logic and memory fabs
  • China's gallium-related export-control regime shaping MO-source trade flows and pricing
  • ALD precursor share gains at advanced logic and 3D NAND customers
  • Margin trajectory as gas volumes scale

Questions

Last reviewed 2026-07-11

Answered questions

What is the measurable gap versus global reference companies?

Global number one in MO sources by share (about 40% global, over 60% domestic), the only full-series mass producer.

Open questions

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