The Chinese semiconductor industry has undergone significant developments over the past two decades. By 2022, China accounted for 31.4% of global semiconductor sales, making it the world’s largest semiconductor market.
By 2023, Chinese foundries increased their global market share in mature chip nodes from 14% in 2017 to 18%, with domestic customers sourcing 53% of their mature chip supply from Chinese foundries. In 2024, China further reinforced its semiconductor ambitions by investing $41 billion in wafer fabrication equipment, representing nearly 40% of global spending in this sector. [1]
Between 2021 and 2022, China accounted for 55% of global semiconductor patent applications—twice the number filed in the United States. Today, with more than 350,000 semiconductor-related firms, China is home to some of the fastest-growing chipmakers. [2]
Below, I highlight the top Chinese semiconductor companies, their market positions, core products, and cutting-edge innovations shaping the future of global technology. From advanced semiconductor design and memory manufacturing to AI-driven chips, these companies play a crucial role in China’s rise as a semiconductor superpower.
Did you know?China’s semiconductor market is expected to exceed $506 billion by 2032, growing at a CAGR of 11.18%. This growth is driven by AI and 5G expansion, rising domestic demand, and increased R&D investments. [3]
Table of Contents
16. Zhaoxin
Founded in 1996Core Products: x86 CPUs, Server Processors
Competitive Edge: China’s only x86 CPU developer
Zhaoxin is a fabless semiconductor company that designs high-performance processors for desktops, laptops, servers, and embedded applications. Unlike Huawei’s HiSilicon, which uses ARM-based architectures, Zhaoxin designs x86 CPUs to compete directly with Intel and AMD.
The company was established as a joint venture between VIA Technologies (Taiwan) and the Shanghai Municipal Government. Its product lineup includes KaiXian x86 CPUs for PCs and laptops, KaiSheng x86 Server CPUs, and Embedded & industrial processors. These processors are mainly used in China’s government institutions, state-owned enterprises, and industrial sectors, where foreign CPU alternatives are restricted or discouraged.
In 2025, the company successfully deployed the DeepSeek-R1 distilled model across its entire hardware lineup, supporting models ranging from 1.5 billion to 671 billion parameters. This development enhances China’s AI hardware capabilities and demonstrates Zhaoxin’s commitment to advancing AI applications. [4]
15. ChangXin Memory Technologies (CXMT)
Founded in 2016Core Products: DRAM chips
Competitive Edge: China’s only mass-producer of DRAM
CXMT offers a range of DRAM products, including LPDDR4, DDR4, and the more advanced LPDDR5, catering to applications in mobile devices, personal computers, tablets, servers, and other consumer electronics.
The company has advanced its manufacturing technology to a 16-nanometer process process node, narrowing the technological gap with industry leaders such as Samsung Electronics, SK Hynix, and Micron Technology. [5]
Since commencing DRAM production in 2020, the company has rapidly increased its global market share, approximately 5% by the end of 2024. The company aims to further expand its presence by advancing 1Z and 1α DRAM technology in the coming years.
14. Will Semiconductor
Founded in 2014Core Products: CMOS image sensors
Annual Revenue: $2.88 billion (2023)
Competitive Edge: OmniVision acquisition
Will Semiconductor designs analog chips, image sensors, and power management ICs. It operates as a fabless semiconductor company, meaning it designs its chips in-house but outsources the actual manufacturing to third-party foundries like TSMC and SMIC.
Will Semi is best known for its image sensors, which are widely used in security cameras, smartphones, and automotive applications. The company gained significant global recognition in 2019 following its acquisition of OmniVision Technologies, a highly regarded manufacturer of CMOS image sensors.
This acquisition put Will Semi as a top global player in image sensors, directly competing with Sony and Samsung. In 2023, the company reported $2.88 billion in revenue, up from $2.75 billion in 2022. About 50% of its revenue came from smartphone chips, while the second-largest revenue segment was semiconductors for electric vehicles. [6]
13. United Nova Technology
Founded in 2018Core Products: MEMS & power semiconductor devices
Annual Revenue: $893 million (2024)
Competitive Edge: Leading MEMS manufacturer in China
United Nova Technology (UNT) is a joint venture between Semiconductor Manufacturing International Corporation (SMIC) and the Shaoxing municipal government. In 2023, it became China’s largest MEMS foundry and the fifth-largest globally, indicating rapid growth in this high-tech sector.
UNT follows a pure-play foundry model, meaning it manufactures semiconductors designed by other companies rather than creating its own branded chips. It provides end-to-end semiconductor manufacturing services, including chip design, wafer fabrication, module packaging, and application verification.
UNT’s core product lines include IGBTs (Insulated Gate Bipolar Transistors) and MOSFETs, MEMS, Analog ICs, and Microcontroller Units. Beyond smart devices, the company also supplies major Chinese electric vehicle manufacturers such as BYD Auto, SAIC Motor, and XPeng, along with electronics giant Luxshare.
In 2024, UNT reported $893 million in revenue, up from $731 million in the previous year, while reducing its net loss to $132.91 million from $268.86 million in 2023. [7]
12. Nexchip
Founded in 2015Core Products: Display Driver ICs, Power Management ICs
Annual Revenue: $1.25 billion (2024)
Competitive Edge: Focuses on Mature Process Nodes
Nextchip is one of China’s fastest-growing semiconductor manufacturers, specializing in wafer fabrication and foundry services. Founded in 2015, the company has rapidly expanded its production capacity, with multi-billion-dollar investments in new fabrication facilities.
By 2023, Nextchip became the third-largest semiconductor foundry in mainland China, trailing only SMIC and Hua Hong Semiconductor. That same year, the company expanded its 12-inch wafer production capacity, focusing on display drivers, power semiconductors, and automotive chips, further reducing reliance on Taiwanese foundries.
Unlike TSMC and Samsung, which focus on advanced nodes (5nm, 3nm), Nexchip is capitalizing on long-term demand for older nodes (28nm–130nm). The company has secured major contracts with BOE Technology, CSOT, and Visionox to supply high-volume display driver ICs.
In 2024, Nexchip reported a remarkable 151.7% year-over-year increase in net profit, reflecting robust demand and effective operational strategies. [8]
11. Silergy
Core Products: Analog integrated circuits
Annual Revenue: $550 million (2024)
Competitive Edge: Global Presence
Silergy is known for its high-performance, low-power consumption analog chips, which are widely used in consumer electronics, automotive systems, cloud computing, industrial automation, and renewable energy applications.
It’s a fabless semiconductor company that designs analog and power management chips while outsourcing production to leading foundries like TSMC and SMIC. The key products include Power Management ICs, Battery Charge Management Chips, DC-DC and AC-DC Conversion Chips, LED Backlight Driver Chips, and Energy Measurement ICs.
The company has a global workforce of over 1,700 employees, including more than 1,200 R&D professionals across 30+ locations worldwide. In 2023, Silergy expanded its US technology headquarters by leasing a 27,700-square-foot office in Santa Clara, California. This move signifies the company’s commitment to improving its R&D capabilities and strengthening its presence in the US market. [9]
10. UNISOC
Founded in 2001Core Products: Microprocessors & Smartphone SoCs
Annual Revenue: $1.78 billion (2024)
Competitive Edge: Robust R&D Capabilities
UNISOC produces mobile processors, 5G chipsets, IoT solutions, and AI-powered SoCs. It operates as a fabless semiconductor company, focusing on chip design, development, and licensing, while outsourcing chip fabrication to foundries like TSMC and SMIC.
The company also develops low-power chip solutions for smartwatches, tablets, and other connected devices. It partners with Chinese and global smartphone brands, including ZTE, Realme, Tecno, Itel, and Lava.
UNISOC has filed over 11,000 patent applications, including core patents in 3G, 4G, and 5G technologies, as well as multi-card multi-standby and multi-mode innovations. The company employs around 5,000 people, with more than 85% dedicated to research and development. [10]
The company has demonstrated impressive financial growth in recent years. In 2021, it reported sales revenue of approximately $1.61 billion, marking a 78% year-over-year increase. This upward trajectory continued in 2024, with revenues reaching $1.78 billion, securing its position among the top 10 global IC design houses. [11]
9. GigaDevice Semiconductor
Founded in 2005Core Products: NOR Flash memory & DRAM chips
Annual Revenue: $1 billion (2024)
Competitive Edge: Strong presence in the microcontroller market
GigaDevice Semiconductor is China’s largest NOR flash memory manufacturer, with a strong presence in automotive, industrial, and consumer electronics. It is also the first Chinese company to develop a general-purpose RISC-V-based microcontroller, competing directly with Arm-based MCU suppliers.
GigaDevice has an extensive portfolio of memory and MCU solutions, including the GD32 series based on ARM Cortex-M3 cores and the GD32V series utilizing RISC-V architecture. It also develops smart human-machine interaction sensor chips, such as touch controllers and fingerprint recognition sensors, enhancing user interfaces in modern electronic devices. [12]
In 2023, the company expanded NOR Flash memory production, increasing capacity for industrial, automotive, and AI applications. It also boosted NAND Flash R&D, aiming to develop high-performance NAND solutions for next-gen storage applications.
In 2023, GigaDevice reported approximately $790 million in sales, down from $1.1 billion in the previous year, while net income dropped sharply to $22.12 million from $280 million in 2022. However, in the first half of 2024, the company saw a rebound, with sales reaching $500 million, up from $410 million during the same period in 2023. [13]
8. Naura Technology Group
Founded in 2001Core Products: Chip design for smartphones and AI
Annual Revenue: $3.03 billion (2023)
Competitive Edge: Leading domestic semiconductor equipment supplier
Naura Technology Group designs, manufactures, and sells semiconductor fabrication equipment, focusing on high-end tools for wafer processing, deposition, etching, and advanced packaging. It competes with global giants like Applied Materials, Lam Research, and Tokyo Electron.
Naura cutting-edge semiconductor manufacturing tools, covering critical steps in wafer processing. This includes Etching & Deposition Equipment used in wafer fabrication, Plasma Etch Tools for precise patterning in advanced node semiconductors, and Chemical/Physical Vapor Deposition machines for layering materials in semiconductor wafers.
The company has experienced rapid growth in recent years, reducing China’s reliance on foreign semiconductor equipment. In 2023, the company reported $3.03 billion in revenue, marking a 50.32% increase from the previous year, with total assets reaching $7.36 billion. [14]
7. Hangzhou Silan Microelectronics
Founded in 1997Core Products: Power MOSFETs & MCUs
Annual Revenue: $1.42 billion (2024)
Competitive Edge: 12-inch wafer fab for power semiconductors
Hangzhou Silan Microelectronics is known for its power management ICs, LED drivers, and MOSFETs, which are essential in power conversion and energy-efficient applications. The company has been expanding its manufacturing capabilities, including China’s first 12-inch wafer fab for power semiconductors, to compete with global power semiconductor giants like Infineon and STMicroelectronics.
Silan Microelectronics is a vertically integrated semiconductor company that designs, manufactures, and sells its own chips. It targets multiple industries, from consumer electronics and industrial automation to automotive and energy-efficient solutions.
In recent years, the company has accelerated the development of its 12-inch wafer fabrication line to enhance the production of advanced chips. It is focusing on third-generation semiconductor materials, including silicon carbide (SiC) and gallium nitride (GaN), to cater to emerging markets requiring high-performance devices. [15]
6. Yangtze Memory Technologies (YMTC)
Core Products: NAND flash memory
Annual Revenue: $1.6 billion
Competitive Edge: Proprietary Xtacking NAND Technology
YMTC is China’s leading NAND flash memory manufacturer that directly competes with global giants like Samsung, SK Hynix, and Micron. The company develops high-layer-count 3D NAND chips, such as the 232-layer and the recent 294-layer 3D TLC NAND flash, which offer increased storage density and performance.
Backed by government funding and support from Tsinghua Unigroup, YMTC is China’s strongest contender in reducing dependence on foreign memory chip suppliers. In 2023, the company filed a lawsuit against US-based Micron Technology, alleging infringement of eight patents, underscoring its commitment to protecting intellectual property rights and strengthening its position in the global semiconductor market.
In recent years, YMTC has demonstrated significant growth, employing over 8,000 individuals worldwide, including approximately 6,000 research and development engineers. [16]
5. Huawei’s HiSilicon
Founded in 1991Core Products: Chip design for smartphones and AI
Annual Revenue: $2 billion (2024)
Competitive Edge: Strong integration with Huawei
Huawei’s HiSilicon is China’s largest and most advanced fabless semiconductor company, best known for its Kirin mobile processors (including the Kirin 9000S SoC), Ascend AI chips (Ascend 910 and Ascend 310), and Balong 5G modems (Balong 5000 & 7000 series).
It also develops Kunpeng server chips (Kunpeng 920 ARM-based CPUs) for Huawei’s cloud computing platforms, as well as security and surveillance chips designed for AI-powered image processing and smart security cameras.
As Huawei’s in-house chip supplier, HiSilicon reduces the company’s dependence on third-party manufacturers like Qualcomm and MediaTek. Despite facing severe US sanctions that cut it off from advanced chip manufacturing, HiSilicon continues to develop new processors using domestic supply chains, making it a crucial player in China’s push for semiconductor independence.
In 2025, HiSilicon introduced the Ascend 910C, an AI training processor utilizing chiplet packaging. Manufactured by SMIC on its second-generation 7nm process (N+2), this processor delivers nearly 60% of the inference performance of NVIDIA’s H100, presenting a viable alternative for AI applications within China. [17]
4. Jiangsu Changjiang Electronics Technology (JCET)
Core Services: Wafer Level & Fan Out packaging
Annual Revenue: $4.07 billion (2023)
Competitive Edge: China’s largest OSAT provider
Initially established as a transistor manufacturing facility, JCET has expanded its operations over the decades to become the largest Outsourced Semiconductor Assembly and Test (OSAT) provider in mainland China and ranks third globally.
Its comprehensive suite of services includes integrated circuit (IC) packaging design, assembly, testing, and distribution. More specifically, the company specializes in Fan-Out Wafer-Level Packaging, Flip-Chip, 2.5D/3D IC integration, and System-in-Package solutions. It conducts electrical testing, reliability analysis, and defect screening to ensure high-quality chips.
JCET competes with industry giants like Amkor Technology (USA), ASE Technology (Taiwan), and TSMC’s advanced packaging division, serving major clients such as Samsung, Texas Instruments, Qualcomm, and Western Digital.
In the first three quarters of 2024, JCET Group achieved a record-high revenue of $3.43 billion, marking a 22.3% increase from the same period in 2023. [18]
3. Hua Hong Semiconductor
Founded in 1996Core Products: PMICs, MCUs, eNVM
Annual Revenue: $2 billion (2024)
Competitive Edge: Strong market position in power semiconductors
Hua Hong Semiconductor focuses on 28nm to 90nm process technologies, making it an important supplier of power management ICs (PMICs), microcontrollers (MCUs), and embedded non-volatile memory (eNVM) chips. It serves industries like consumer electronics, automotive, and industrial applications, where mature nodes are still in high demand.
Hua Hong specializes in SiC (Silicon Carbide) and GaN (Gallium Nitride) power devices, which gives it an edge in EVs and industrial applications. As a state-supported company, it receives funding and subsidies to expand China’s semiconductor capabilities.
In FY 2023, the company generated nearly $2.3 billion in revenue. However, in 2024, it faced a 12.3% revenue decline to $2.004 billion and a sharp 79.2% drop in net profit to $58.14 million. [19]
In 2024, Hua Hong announced a partnership with STMicroelectronics to manufacture 40nm microcontroller chips in China. It also plans to intensify R&D efforts in advanced process nodes, particularly focusing on 28nm and 22nm technologies, to cater to the growing domestic demand for AI and automotive electronics. [20]
2. Hygon Information Technology
Founded in 2014Core Products: HPC processors
Annual Revenue: $1.26 billion (2024)
Competitive Edge: Exclusive x86 licensing in China
Hygon Information Technology primarily develops x86-based processors for data centers, cloud computing, and AI applications. It’s a major alternative to Intel and AMD within the domestic market.
The company was originally formed as a joint venture with AMD and gained exclusive licensing rights to modify and manufacture AMD’s Zen-based CPUs for the Chinese market. However, due to US trade restrictions, Hygon was forced to diverge from AMD’s technology and now focuses on developing its own processor architectures.
The company designs server-class and AI-focused chips, outsourcing production to Chinese foundries like SMIC. Its processors are primarily used in China’s data centers, government infrastructure, and AI research facilities.
Hygon has maintained strong financial performance, achieving a 52% revenue growth to $1.26 billion and a 53% rise in net income to $270 million in 2024 compared to the previous year, while sustaining a stable profit margin of 21%. [21]
1. Semiconductor Manufacturing International Corporation (SMIC)
Core Products: Logic and memory chips
Annual Revenue: $8.02 billion (2024)
Competitive Edge: Strong government backing
SMIC is the largest and most advanced semiconductor foundry in China, playing a key role in the nation’s ambitions to achieve self-sufficiency in semiconductor production.
It manufactures chips for fabless semiconductor companies, consumer electronics firms, and strategic government-backed projects. Unlike TSMC, which serves global customers, SMIC focuses on the domestic market. producing chips for Huawei, Xiaomi, and Alibaba.
SMIC’s production spans multiple process models, from 350nm to 7nm. The company is also working on 5nm fabrication. It has significantly ramped up capital expenditures, investing $7.3 billion in 2023 and another $7.33 billion in 2024, aiming to expand manufacturing facilities and enhance China’s domestic semiconductor ecosystem. [22]
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- Jacky Wong, America’s chip war with China will spread, The Wall Street Journal
- Stephen Ezell, How innovative is China in semiconductors?, ITIF
- Electronics and Semiconductor, China semiconductor market analysis, IMARC Group
- Levi Li, Zhaoxin CPUs now fully support DeepSeek-R1 LLM, Digitimes Asia
- Che Pan, China’s top memory chip maker CXMT narrows tech gap with leaders Samsung, SCMP
- Hardware, Revenue breakdown of the Will Semiconductor by end-use, Statista
- United Nova Technology, Financials and earnings results for 2024, MarketScreener
- Nextchip, Nexchip Semiconductor’s prelim 2024 net profit up 151.7% YOY, MarketScreener
- Homepage, Number of R&D employees across 30+ countries, Silergy
- About Us, The company has submitted applications for more than 11,000 patents, UNISOC
- Levi Li, Unisoc secures top 10 global IC design houses spot, Digitimes Asia
- Products, Product Series including NOR and NAND Flash, GigaDevice
- GigaDevice Semiconductor, Financials and statement highlights, Investing
- NAURA Technology Group, Earnings & income statement, WSJ Markets
- Semiconductor, China’s 8-inch silicon carbide production lines enter fierce competition, TrendForce
- Company Vision, Supported by 8,000+ employees, including 6,000 R&D engineers, YMTC
- Anton Shilov, DeepSeek research suggests Huawei’s Ascend 910C delivers 60% of Nvidia H100 inference performance, Tom’s Hardware
- News Center, JCET revenues for q3 2024 and q3 YTD 2024 hit new record high, JCET
- Hua Hong Semiconductor, The full-year revenue for 2024 was $2.004 billion, Yuan Talks
- Toby Sterling, STMicro partners with Hua Hong as chipmakers need China, Reuters
- Semiconductors, Hygon’s full-year 2024 earnings, Simply Wall St
- Technology, China’s SMIC flags chip oversupply risk on weakening demand, Reuters
