AMEC designs and manufactures etch and chemical vapor deposition (CVD) equipment for semiconductor fabrication. These are among the most critical steps in wafer production, required dozens of times across a chip's manufacturing process. AMEC is China's leading domestic supplier in these categories, competing globally with Lam Research and Applied Materials.

US export controls restricting the sale of advanced semiconductor equipment to Chinese fabs have structurally expanded AMEC's market. As domestic Chinese foundries and memory manufacturers build AI chip capacity, they have had to source etch and deposition tools locally. AMEC has benefited directly, with customers accelerating orders as they seek to develop AI chip manufacturing capability without dependence on foreign suppliers that may face further export restrictions.

AMEC has responded by expanding its product lines to address fabrication steps where it previously had limited presence, including more advanced etch processes used in logic and memory production. Revenue has grown as domestic Chinese fabs—including those producing chips for AI accelerator programs—have increased equipment procurement from domestic suppliers. The company's growth trajectory is directly tied to China's broader push for semiconductor self-sufficiency, a policy priority that has received substantial government support.