Company at a glance
Scale
Revenue down 9% since FY2023
Growth prospects
Expanding customer base and product roadmap
via money.finance.sina.com.cn ↗Four pillars: semiconductor process equipment (mainly wet cleaning), high-purity process systems (specialty gas/chemical delivery), electronic materi…via pdf.dfcfw.com ↗SMIC (中芯国际), Hua Hong (华虹), Shanghai Huali, YMTC (长江存储), CXMT (长鑫科技) and Yandong MicroOfficial filings: Sina Finance — FY2025 annual report ↗ · Xueqiu (CNINFO mirror) — FY2024 annual report summary ↗ · Sina Finance — FY2019 annual report (wet equipment lines) ↗ · 2025 developments ↗
All sourced facts (8)
- Listing status: SSE · 603690 · A-share
- Founded / listed: Founded 2000 in Shanghai; listed on Shanghai Stock Exchange 2017-01-13 (603690) via money.finance.sina.com.cn ↗
- Businesses: Four pillars: semiconductor process equipment (mainly wet cleaning), high-purity process systems (specialty gas/chemical delivery), electronic materials (bulk gases), and professional services; equipment was 16.80% of main-business revenue in FY2024 via money.finance.sina.com.cn ↗
- Wet equipment: Entered cleaning equipment in 2017; subsidiary 至微科技 supplies wet batch (槽式) and single-wafer (单片式) cleaning tools for diffusion/litho/etch steps, positioned for 12-inch lines against imported tools; launched the S300-D wet processing tool in 2024 via stcn.com ↗
- Customers: SMIC (中芯国际), Hua Hong (华虹), Shanghai Huali, YMTC (长江存储), CXMT (长鑫科技) and Yandong Micro via pdf.dfcfw.com ↗
- FY2024 results: Revenue RMB 3.605 billion (+14.40% YoY); attributable net profit RMB 23.6 million; new orders RMB 5.577 billion via stockn.xueqiu.com ↗
- 2025 developments: H1 2025 electronic materials revenue RMB 133 million; 2025 annual report cites China fab expansion driving demand for high-purity systems, wet cleaning, bulk gases and on-site services via dataclouds.cninfo.com.cn ↗
- Competitive stance: Domestic research describes PNC as the only Chinese firm integrating high-purity systems + wet cleaning equipment + electronic materials operations; single-wafer cleaning is displacing batch cleaning in advanced processes on 12-inch wafers via pdf.dfcfw.com ↗
About
Sells wet batch and single-wafer cleaning tools, high-purity process systems (specialty gas and chemical delivery), electronic bulk gases/materials, and ongoing fab operation services; revenue spans fab build-out phase (equipment + systems) and steady-operation phase (materials and services).
Founded 2000 · Ticker 603690
Why it matters
PNC is described in domestic research as China's only company spanning high-purity process systems, wet-cleaning equipment and electronic-materials services — the utility layer of every fab build-out — benefiting directly from China's 12-inch fab expansion and import substitution in cleaning tools dominated by SCREEN, TEL and DNS.
Where it sits in the stack
Key semiconductor products
- Wet-cleaning equipmentbatch tank and 12-inch single-wafer tools via 至微科技 (incl. S300-D platform, single-wafer phosphate cleaning)
- High-purity process systemsspecialty gas and chemical delivery, process media recovery/treatment
- Electronic materialselectronic bulk gases and wet chemicals
- Fab servicessystem operation and maintenance support
Financials
603690.SS · Shanghai Stock Exchange (main board) 603690.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
- SCREEN Holdings
- Tokyo Electron (CLEAN track)
- DNS (Dainippon Screen peer group; Daifuku-adjacent wet process)
- ACM Research (domestic peer)
Competitive position
- China's leading high-purity process systems (gas/chemical delivery) supplier, integrated with wet-cleaning tools and materials services
- Domestic alternative to SCREEN, TEL and DNS in wet processing; ACM Research (盛美) is the closest listed Chinese peer in cleaning
- FY2024 new orders (RMB 5.577 billion) exceeded revenue, indicating a growing backlog tied to fab build-outs
- Global comparables: SCREEN Holdings
- Global comparables: Tokyo Electron (CLEAN track)
- Global comparables: DNS (Dainippon Screen peer group; Daifuku-adjacent wet process)
- Global comparables: ACM Research (domestic peer)
Milestones and signals
- 2000—PNCS (至纯科技) was founded.
- 2024—New Orders: CNY 5.577 billion
- 2026-10-04—Market cap: RMB 8.5B
- FY2025—Revenue: RMB 2.9B
- FY2025—Net Profit: RMB -777M
- Listing—SSE · 603690 · A-share
What to watch
- Single-wafer cleaning share gains on 12-inch advanced lines and the '200 tools in three years' shipment ambition
- Thin FY2024 net margin (RMB 23.6 million on RMB 3.6 billion revenue)
- Electronic materials segment scaling (H1 2025 RMB 133 million)
- Order-to-revenue conversion amid China fab capex pace
Questions
Last reviewed 2026-07-11Answered questions
What is the measurable gap versus global reference companies?
China's leading high-purity process systems (gas/chemical delivery) supplier, integrated with wet-cleaning tools and materials services.
Open questions
- Which products are qualified beyond pilots in equipment?
- Which customers, fabs, or end markets show real adoption rather than policy interest?