Is NAURA Technology Group profitable in 2026?

Yes. NAURA reported FY2025 revenue of CNY 39.35 billion, up 30.85% year-over-year, with net income of CNY 5.52 billion, though net income fell 1.77% year-over-year despite the revenue surge, per stockanalysis.com data as of June 2026.

Who are NAURA's biggest competitors?

Globally, NAURA ranks 5th behind ASML, Applied Materials, Lam Research, and Tokyo Electron, all of which are legally barred by US export controls from selling into China. Domestically it competes with AMEC, Piotech, Hwatsing, ACM Research, and Kingsemi, per a China Daily report dated February 2026.

Could AI replace NAURA Technology Group's engineers or products?

Unlikely. NAURA makes physical semiconductor equipment like etch and deposition tools; its moat rests on patented hardware, fab-qualification lock-in, and state-channeled distribution, not software. AI may assist predictive maintenance, but core precision manufacturing remains untouched as of 2026.

Why was NAURA added to the US Entity List?

NAURA was added to the US Department of Commerce Entity List in December 2024, restricting its access to certain US-origin components, amid broader US efforts to curb China's semiconductor equipment advancement. As of mid-2026, the company continues operating and growing despite this designation.

What is NAURA's global market ranking in semiconductor equipment?

NAURA climbed from 8th place globally in 2022 to 5th in 2025 by sales, trailing only ASML, Applied Materials, Lam Research, and Tokyo Electron, according to Japanese research firm Global Net as reported by China Daily in February 2026.

Who owns NAURA Technology Group?

NAURA is a publicly traded company on the Shenzhen Stock Exchange ChiNext board under ticker 002371, having IPO'd on March 16, 2010. It traces its roots to a 2001 SASAC state entity, Beijing Sevenstar Electronics, and took its current name in February 2017.

Semiconductor companies · China

Naura Technology Group

naura.com ↗

Chinese maker of etch, deposition, and cleaning tools for chip fabs.

Hard to displace

Assessed 30 July 2026 · Evidence as of 30 July 2026

Strong structural protection; the business model survives ai pressure.

On the recordSince 30 July 2026 · Checkable from August 28, 2026 · Every call on the record Checkpoint: Next earnings report covering H1 2026 results

The call

NAURA grows behind a wall built by US export bans and Chinese subsidy policy, with its own supply chain as the main thing that could crack that wall.

Naura Technology Group makes machines that help factories build computer chips. It is hard to replace right now because the US government blocks its four biggest competitors (Applied Materials, Lam Research, Tokyo Electron, and ASML) from selling their equipment into China, and the Chinese government steers business toward Naura instead. Once a chip factory installs Naura's machines, switching to a different brand is expensive and disruptive. However, the same US export controls that protect Naura from rivals could also cut off the foreign parts it needs to build its own machines. If the US restricts Naura's access to critical components, it could cripple the company even if Western competitors still cannot enter the Chinese market.

Why

AI pressure: None apparent. AI chip demand is pushing fabs to expand, which feeds NAURA more tool orders rather than replacing it. Could AI do the core job? Unlikely.

Bigger players: Applied Materials, Lam Research, Tokyo Electron, ASML. US export bans keep these four out of China today; a trade detente could let them back into NAURA's home market. Could a giant copy it? No, they are blocked.

What protects it. US export controls lock its biggest rivals out of China while state subsidies and fab-line qualification lock customers in.

What would change this call

NAURA's Q2/H1 2026 earnings report on August 28 2026. Shows whether margin compression (net income fell while revenue rose) continues or reverses.
BIS tightens Entity List enforcement or restricts foreign components going to NAURA. Would test whether NAURA's supply chain can be choked despite its China market moat.
Announcement of Big Fund Phase III subsidy allocations (reportedly up to RMB 500 billion). Would show continued state-driven demand supporting NAURA and domestic peers.

Key numbers

Ranked #5 globally among chip equipment makers (2025)
Order backlog booked through Q1 2027 (2026-01)
28nm etch tools entered mass production (2026-02)

Named risks

Foreign-component supply-chain vulnerability under same export-control regime that protects NAURA's China market. Severity: high
Margin compression: FY2025 net income fell 1.77% despite 30.85% revenue growth. Severity: medium
Unresolved Taiwan talent-poaching allegations from September 2024 pose reputational overhang. Severity: medium
Intensified US BIS enforcement, as seen in Applied Materials' $252 million settlement in February 2026, signals rising compliance risk for the ecosystem. Severity: medium
US-China trade detente could reopen China market to ASML, Applied Materials, Lam Research, and Tokyo Electron at scale. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
ASML, Applied Materials, Lam Research, Tokyo Electron	gaining on	NAURA rose to #5 globally by sales in 2025 from #8 in 2022, while these four remain legally barred from China market
AMEC	contesting	AMEC is China's #2 equipment maker with 2026 revenue expected around RMB 17 billion, per June 2026 analysis
Hwatsing Technology	contesting	Hwatsing also added to US Entity List in December 2024, competing in domestic CMP tools segment
Piotech, ACM Research, Kingsemi	contesting	Domestic peers race in the same state-subsidized market; NAURA took 9.49% Kingsemi stake in March 2025

Questions people ask

Is NAURA Technology Group profitable in 2026?: Yes. NAURA reported FY2025 revenue of CNY 39.35 billion, up 30.85% year-over-year, with net income of CNY 5.52 billion, though net income fell 1.77% year-over-year despite the revenue surge, per stockanalysis.com data as of June 2026.
Who are NAURA's biggest competitors?: Globally, NAURA ranks 5th behind ASML, Applied Materials, Lam Research, and Tokyo Electron, all of which are legally barred by US export controls from selling into China. Domestically it competes with AMEC, Piotech, Hwatsing, ACM Research, and Kingsemi, per a China Daily report dated February 2026.
Could AI replace NAURA Technology Group's engineers or products?: Unlikely. NAURA makes physical semiconductor equipment like etch and deposition tools; its moat rests on patented hardware, fab-qualification lock-in, and state-channeled distribution, not software. AI may assist predictive maintenance, but core precision manufacturing remains untouched as of 2026.
Why was NAURA added to the US Entity List?: NAURA was added to the US Department of Commerce Entity List in December 2024, restricting its access to certain US-origin components, amid broader US efforts to curb China's semiconductor equipment advancement. As of mid-2026, the company continues operating and growing despite this designation.
What is NAURA's global market ranking in semiconductor equipment?: NAURA climbed from 8th place globally in 2022 to 5th in 2025 by sales, trailing only ASML, Applied Materials, Lam Research, and Tokyo Electron, according to Japanese research firm Global Net as reported by China Daily in February 2026.
Who owns NAURA Technology Group?: NAURA is a publicly traded company on the Shenzhen Stock Exchange ChiNext board under ticker 002371, having IPO'd on March 16, 2010. It traces its roots to a 2001 SASAC state entity, Beijing Sevenstar Electronics, and took its current name in February 2017.

Timeline

2026-07NAURA reported holding about 12% global PVD market share, per Korean financial media
2026-03NAURA and SMIC publicly called for a coordinated national effort to build China's ASML by 2030
2026-03NAURA unveiled a hybrid bonding tool at SEMICON China 2026
2026-02NAURA began mass production of 28nm etching tools amid China's 70% self-sufficiency push
2026-01NAURA's order backlog reported scheduled through Q1 2027 amid 80% YoY surge in Chinese equipment orders
2025-03-10NAURA acquired 9.49% stake in Kingsemi for CNY 1.69 billion, becoming largest shareholder
2024-12NAURA added to US Department of Commerce Entity List
2024-09Taiwan authorities alleged illegal talent-poaching by NAURA and other mainland firms
2024-04NAURA began research on lithography systems
2018-01NAURA acquired Akrion Systems in the US after CFIUS approval

Revision history

30 July 2026

First assessed. Hard to displace. The text above is fixed as of this date and is not edited afterwards.

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