The foundry layer is where every other segment in this series converges: the fabs are the customers for domestic equipment and EDA, the manufacturing base for domestic MCUs, power, and analog, and the physical expression of China's self-sufficiency strategy. It is also, in 2026, a better business than it has been in years. After a bruising 2023-2024 of overcapacity fear and price war, China's foundries entered 2026 running essentially full, raising prices for the first time in a cycle, and consolidating. This primer maps the players: who they are, what they run, and how they stack up against each other and the world. It covers third-party contract manufacturing only. Memory IDMs (CXMT, YMTC) are covered in our dedicated memory work, and the Huawei-affiliated fab network is the subject of a companion piece; both are deliberately out of scope here.
China's Pure-Play Foundries
Semisino Sector Primer · July 2026
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