Chinese Semiconductor Companies Report Surging Orders as AI Demand and Domestic Substitution Drive Growth

Chinese semiconductor manufacturers are logging record order backlogs and new business volumes as a confluence of artificial intelligence infrastructure investment, domestic chip substitution driven by export controls, and the broadening semiconductor industry cycle recovery fuels demand. As of late September 2026, multiple domestic chipmakers disclosed substantially higher order books and backlogs. Shanghai-based Advanced Custom Manufacturing Research (ACM Research) reported a backlog that surged 88.2% year-over-year to 17.073 billion yuan, while Chipintelli disclosed new orders worth 14.653 billion yuan from January through mid-July 2026, with approximately 85% tied to AI compute applications. Industry-wide, consensus forecasts now expect 2026 revenue across Chinese semiconductor companies to exceed 1 trillion yuan, with 17 companies projected to achieve growth exceeding 100% annually.