AI "Super Cycle" drives performance realization wave! Qichacha: The registration of semiconductor-related companies reached a record high last year.

Driven by the dual forces of increasing demand for AI computing power and accelerated domestic substitution process, the overall performance of A-share semiconductor industry chain is improving. As of the evening of April 15th, among the 211 constituent stocks in the Wind Semiconductor Index, 153 companies have already released their 2025 annual reports and first quarter performance reports. Among them, 129 companies have recorded year-on-year revenue growth, with 69 companies achieving growth of over 20% and 29 companies achieving growth of over 40%. Meanwhile, the first quarter reports have also been released, with companies in the AI industry chain such as HiSilicon and Biwin Storage showing strong performance. Industry insiders believe that through the performances of industry leaders such as SMIC, MediaTek, and HiSilicon, it is not difficult to see that the industry is in a stage of structural recovery, showing steady growth in manufacturing, leading companies in equipment, and simultaneous increase in storage volume and price; however, there are also differentiation trends in silicon carbide and some design aspects. Overall, AI is becoming the core growth engine of the industry, with the domestic substitution process continuing to deepen. According to data from Tianyancha, as of April 17, 2026, there are a total of 1.177 million semiconductor-related companies in China. In terms of registration, in the whole year of 2025, a total of 231,000 semiconductor-related companies were registered in China, an increase of 16.7% year-on-year, reaching a new high in the number of related companies registered in the past decade; in terms of regional distribution, in 2025, over 60% of the newly registered related companies were located in the South China and East China regions, with the highest proportion in South China at 32.9%; as of April 17th, 2026, there are already 59,000 registered semiconductor-related companies in China.