Revenue exceeds 360 billion yuan! STAR Market semiconductor 2025 report card released, with exports up 72.6%

Question about AI · How does the 52% increase in export prices of integrated circuits reflect the industry’s move towards high-end transformation?

Fast Technology, April 4 — According to media reports, 128 semiconductor companies listed on the STAR Market are projected to achieve a total revenue of over 360 billion yuan by 2025, a year-on-year increase of 25%. Behind this performance, it reflects the resilience and vitality of China’s semiconductor industry.

From the export perspective, China’s semiconductor industry is accelerating its integration into the global supply chain.

In the first two months of 2026, China’s integrated circuit exports surged by 72.6% year-on-year, reaching a total of $43.3 billion. The data showing a 13% volume increase and a 52% price increase indicates the industry is shifting towards “high-end exports.”

Currently, the STAR Market hosts 128 semiconductor companies, accounting for over 60% of similar companies listed on the A-shares market, forming a complete chain layout of design, manufacturing, packaging and testing, equipment, and materials, with a total IPO fundraising amount exceeding 320 billion yuan.

Domestic AI chip leader Cambrian achieved an annual revenue of 6.5B yuan in 2025, a year-on-year increase of 453.21%, with net profit attributable to the parent of 2.06B yuan, turning from loss to profit year-on-year. This is also Cambrian’s first full-year profit since going public.

Aojie Technology’s first 5G intelligent SoC chip has completed functional verification and has entered system verification testing.

Power device leader CR Micro’s silicon carbide (SiC) products have been mass-installed at several top industry clients.

AI computing power demand continues to rise, with multiple segments on the STAR Market experiencing explosive growth. Baiwei Storage achieved a revenue of 11.3B yuan in 2025, with a net profit of 853 million yuan, a year-on-year increase of 429.07%, and recently secured $1.5 billion in wafer procurement.

Edge-side AI is also gradually entering the harvest period. Hengxuan Technology’s multiple wearable chips have successfully completed tape-out and mass production, driving a 29% year-on-year increase in net profit.

Baiwei Storage has successfully implemented wafer-level advanced packaging and testing projects, becoming the only independent storage solution provider worldwide with wafer-level packaging and testing capabilities.

Muxi Co., Ltd. is developing and promoting the implementation of the Wanka cluster, currently successfully supporting models such as MoE large models, brain-like large models, and reinforcement learning.

Yuanjie Technology’s high-margin CW silicon photonic light source products are expected to see large-scale volume in data center markets by 2025, continuing to benefit from the silicon photonics application trend.