Advanced Micro-Fabrication Equipment China (SHA:688012) expects its attributable profit to increase by 32% to 41% to between 680 million yuan and 730 million yuan in the first half, from 516.7 million yuan in the year-ago period, according to a Friday filing with the Shanghai bourse.

The upbeat forecast is attributable to a 51% expected rise in operating income at the semiconductor equipment supplier to 4.96 billion yuan from 3.44 billion yuan in the prior-year period, the filing said.

The company also attributes the rise to the speed of development of new products, the filing said.

Shares rose 3% during late morning trading on Friday.