NAURA Technology Group Co., Ltd.
Native name
北方华创科技集团股份有限公司
FormerlyBeijing Sevenstar Electronics
Company typePublic; State-owned enterprise
SZSE: 002371
IndustrySemiconductors
FoundedSeptember 2001; 22 years ago (2001-09)
HeadquartersBeijing, China
Key people
Zhao Jinrong (Chairman)
Tao Haihong (CEO)
RevenueIncrease CN¥14.55 billion (2022)
Increase CN¥2.35 billion (2022)
Total assetsIncrease CN¥42.55 billion (2022)
Total equityIncrease CN¥19.75 billion (2022)
Number of employees
10,007 (2023)
Websitewww.naura.com
Footnotes / references
[1]

NAURA Technology Group (Naura; Chinese: 北方华创科技集团; pinyin: Běifāng Huáchuàng Kējì Jítuán) is a partially state-owned publicly listed Chinese company that manufactures semiconductor chip production equipment. It is currently the largest semiconductor equipment manufacturer in China.[2]

History

In September 2001, Beijing Electronics Holdings, a government SASAC initiated the establishment of Beijing Sevenstar Electronics (Sevenstar Electronics).[3][4]

On 16 March 2010, the company held its initial public offering on the ChiNext of Shenzhen Stock Exchange. It was the biggest gainer for mainland China stocks on that day where its initial price of 33 yuan per share jumped 79% percent to 59 yuan.[4][5]

In 2016, Sevenstar Electronics acquired Beijing North Microelectronics (NMC) from its parent, Beijing Electronics Holdings. NMC specialized in Silicon etching and Physical vapor deposition (PVD) equipement.[3] On 24 February 2017, after the company restructured following its acquisition, it was renamed to NAURA Technology Group.[6][7]

In January 2018, the Committee on Foreign Investment in the United States (CFIUS) approved Naura's purchase of Akrion Systems, a Pennsylvania-based rival that was a supplier of advanced wafer surface preparation technology. This was the first takeover of an American company by a Chinese one that was approved since Donald Trump became President of the United States. Prior to that the Trump administration had blocked all Chinese acquisitions of US target companies as a result of the China–United States trade war.[2][8]

In October 2022, Naura told its American employees in China to stop taking part in R&D activities to comply with the United States New Export Controls on Advanced Computing and Semiconductors to China. Naura stated its subsidiary, Beijing Naura Magnetoelectric Technology was on the Bureau of Industry and Security unverified list although it accounted for only 0.5% of the company's annual revenue. Its share price dropped 20% that week.[2][9] A week later, US trade officials from American embassy in Beijing held talks with executives of Naura.[10]

In December 2022, Beijing Naura Magnetoelectric Technology was removed from the Bureau of Industry and Security unverified list after their bona fides were able to be verified.[2][11]

In February 2023, Yangtze Memory Technologies reduced its equipment purchase orders by 70% from Naura. The cancellation orders stated in October 2022 which was around the same time the US export controls came into effect.[12]

In January 2024, Naura stated it expected its 2023 revenue to increase by around half from a year earlier as its technology developments allowed it fulfil local demands and gain a greater market share in the country.[13]

In February 2024, Bloomberg News reported that Naura was one of the top investment picks among Wall Street firms such as Barclays and Sanford C. Bernstein. A company comparable to Applied Materials, it would be able to fulfill local market demands in China and fill the void left by foreign firms being unable to continue doing business due to geopolitical restrictions.[14]

Business lines

Naura has four business lines:[1][2][4]

See also

References

  1. ^ a b "002371 | NAURA Technology Group Co. Ltd. A Stock Price & News - WSJ". WSJ.
  2. ^ a b c d e Hope, Arran (3 February 2023). "China's top 10 semiconductor firms". The China Project. Retrieved 17 February 2024.
  3. ^ a b Wang, Shaobo (22 March 2016). "Striving to become China's leading semiconductor equipment manufacturer via the acquisition of NMC" (PDF). CITIC Securities.
  4. ^ a b c Chen, Gabby (30 March 2023). "Chinese leading semiconductor equipment provider NAURA Technology sets up a new subsidiary in central China's Wuhan". jw.ijiwei.com. Retrieved 17 February 2024.
  5. ^ "China stocks up on small-cap buys; HK slips for 3rd day". Reuters. 16 March 2010.
  6. ^ "北方華創科技集團股份有限公司". MoneyDJ理財網. 27 July 2022. Retrieved 17 February 2024.
  7. ^ "Beijing Sevenstar Electronics changes company name to Naura Technology Group". Reuters. 23 February 2017.
  8. ^ Fontanella-Khan, James (18 January 2018). "First Chinese takeover of US group under Trump gets go-ahead". www.ft.com. Retrieved 17 February 2024.
  9. ^ Pan, Che (13 October 2022). "Exclusive | China's top chip equipment maker asks American staff to step aside". South China Morning Post. Retrieved 17 February 2024.
  10. ^ PAn, Che (25 October 2022). "Exclusive | US said to start talks with Chinese chip equipment maker over new restrictions". South China Morning Post. Retrieved 17 February 2024.
  11. ^ Cao, Ann (16 December 2022). "US ups the ante in chip war by adding leading Chinese chip firms to Entity List". South China Morning Post. Retrieved 17 February 2024.
  12. ^ Harris, Dylan (11 February 2023). "China's YMTC Cuts Equipment Purchases For NAND Flash Memory Chip Production By 70% - Tech News Space". Retrieved 17 February 2024.
  13. ^ Pan, Che (16 January 2024). "US export controls lift sales of China's chip-tool giant Naura". South China Morning Post. Retrieved 17 February 2024.
  14. ^ King, Ian (15 February 2024). "China Chip Stocks Look Like Long-Term Winners to Wall Street". Bloomberg News. Retrieved 17 February 2024.