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On August 16, Advanced Micro-Semiconductor Equipment (Shanghai) Co., Ltd. (hereinafter referred to as "AMEC") announced that it had formally filed a lawsuit in a U.S. court, challenging the U.S. Department of Defense's decision to include it in the Chinese Military Companies List (hereinafter referred to as the "CMC List").

On January 31, 2024 (Eastern Time), the U.S. Department of Defense added AMEC to the CMC list in accordance with Section 1260H of the National Defense Authorization Act for Fiscal Year 2021.

AMEC stated that the US Department of Defense's decision to include AMEC in the CMC list was wrong, inconsistent with the facts, had no legal basis, violated due process, and had caused serious damage to the company's reputation.

The announcement stated that since being included in the CMC list, AMEC has done its best to actively communicate with the US Department of Defense to clarify the facts, provided sufficient evidence to prove that it does not meet the identification criteria of the CMC list, and requested that AMEC be removed from the CMC list. Unfortunately, as of the date of the formal prosecution, AMEC has not yet achieved its wish.

"Therefore, AMEC has to take legal action and request the court to require the U.S. Department of Defense to revoke its erroneous decision to eliminate misunderstandings, safeguard AMEC's ​​legitimate rights and interests, and protect the interests of AMEC's ​​shareholders, customers and partners." The company stated that it has always insisted on legal and compliant operations, strictly abided by domestic and international laws and regulations, and has never participated in any military-related activities.

Yin Zhiyao, Chairman and General Manager of AMEC, said: "We are deeply shocked by the U.S. Department of Defense's re-listing of AMEC on the CMC list. This decision is wrong and unfounded. We believe that the court will make a fair ruling to remove AMEC from the CMC list. At the same time, we are willing to continue to communicate with the U.S. Department of Defense to resolve the existing disputes in a friendly and appropriate manner."

Recently, Yin Zhiyao mentioned in the "Shanghai Market·Hard Technology Hard Customer" that "In the past 20 years, our independent control process has generally progressed smoothly. At present, the independent control rate of major components has reached more than 90%, and it will reach 100% by the end of the third quarter of this year."

He said that although China still has a long way to go to reach the world's most advanced level in the field of semiconductor equipment, he believes that the goal of reaching the world's most advanced level can be achieved in another five to ten years.

In April this year, AMEC disclosed its first quarter results: operating income was 1.605 billion yuan, a year-on-year increase of 31.23%. Net profit attributable to shareholders of the listed company was 249 million yuan, down about 26 million yuan from the same period last year, a year-on-year decrease of about 9.53%; net profit after deducting non-recurring gains and losses was 263 million yuan, an increase of 35 million yuan from the same period last year, a year-on-year increase of 15.40%.

As of press time on August 16, the market value of AMEC was approximately RMB 92.3 billion.