From Silicon Valley to Shanghai: Gerald Yin’s Bet on Chipmaking in China

[para. 1] Gerald Yin, founder and chairman of Advanced Micro-Fabrication Equipment Inc. (AMEC), a leading Chinese chip manufacturing equipment provider, has relinquished his U.S. citizenship to restore his Chinese nationality. This move requires him to sell part of his company stake (0.046% between January 30 and April 29) to fulfill related tax obligations. Yin currently holds 0.664% of AMEC. The company’s statement directly links this share sale to his nationality change and tax requirements.3

[para. 2] The nationality switch for the 82-year-old industry veteran, often called the “father of China’s etching machines,” is significant. It comes amid ongoing U.S.-China tensions, especially regarding technological and industrial competition. These tensions have placed transnational executives in difficult situations. Yin’s switch is explicitly tied to the escalating ‘tech war’ between Washington and Beijing.3

[para. 3] Yin’s decision is influenced by recent U.S. government actions. In October 2022, new Bureau of Industry and Security (BIS) rules barred U.S. persons from assisting with advanced chip development or production in China. Many Chinese semiconductor executives with U.S. citizenship were forced to choose between careers in China and their U.S. nationality. AMEC’s 2022 annual report had listed Yin as a U.S. citizen, but by 2024’s report (released in April 2025), his nationality was Chinese.3

[para. 4] Yin’s personal path reflects broader global shifts in the semiconductor industry. Born in Beijing in 1944, he studied in China before obtaining a Ph.D. in physical chemistry from UCLA. He then worked for two decades in Silicon Valley at major firms like Intel, Lam Research, and Applied Materials—eventually becoming a U.S. citizen. He held vice president and CTO roles at Applied Materials’ Asian headquarters. With 89 U.S. patents and over 200 international patents, he is recognized as one of Silicon Valley’s most successful Chinese-Americans.3

[para. 5] In 2004, at age 60, Yin returned to China to found AMEC in Shanghai with 15 Silicon Valley engineers, after encouragement from local government officials to challenge foreign dominance in semiconductor equipment.3

[para. 6] AMEC now ranks as a major player, reporting over 9 billion yuan (about $1.29 billion) in annual revenue and a market cap exceeding 220.8 billion yuan in 2024. The company specializes in high-end etching equipment, crucial for cutting-edge 5-nanometer chip production.3

[para. 7] AMEC’s rise has not been without controversy. In 2007, Applied Materials sued both the company and Yin for trade secret theft, but after intense legal defense and audits costing $25 million, AMEC reached a settlement, proving its technology was independently developed. The company has also prevailed over other international competitors in patent disputes.3

[para. 8] In 2024, AMEC was temporarily placed on the U.S. Defense Department’s Chinese Military Companies blacklist, which Yin publicly denounced as unjustified. Following a lawsuit initiated by AMEC in August 2024, the company was removed from the blacklist in December.3

[para. 9] Despite these victories, Yin acknowledges industry challenges. In mid-2024, he noted that worldwide supply chains are ideal, but geopolitical strife forces localization. Thanks to these pressures, AMEC accelerated efforts toward self-reliance, reaching “basic autonomy” by summer 2024, though domestic tech quality still lags foreign standards.3

[para. 10] AMEC diversified its offerings by developing thin film deposition equipment (first successful device in November 2022). By June 2025, it had delivered over 6,800 plasma etching and chemical vapor deposition machines, supplying more than 150 global production lines.3

[para. 11] In the first half of 2025, company revenue jumped 43.9% year-on-year to about 5 billion yuan, with etching equipment making up over 76% of sales. Yin has set an ambitious goal for AMEC to supply 50–60% of high-end semiconductor equipment needs for China within five to ten years.3