每经AI快讯，华天科技（SZ 002185，收盘价：11.78元）10月16日晚间发布公告称，公司第八届第七次 董事会会议于2025年10月16日以通讯表决方式召开。会议审议了《关于提请股东大会授权董事会全权办 理本次重组相关事宜的议案》等文件。 截至发稿，华天科技市值为380亿元。 每经头条（nbdtoutiao）——"短板"正在被一块块补上！直击湾芯展："中国芯"是怎么炼成的 （记者 曾健辉） 2025年1至6月份，华天科技的营业收入构成为：集成电路封装产品占比99.97%，LED占比0.03%。 ...

每经AI快讯，有投资者在投资者互动平台提问：请问贵公司停牌到什么时候？ 华天科技（002185.SZ）10月15日在投资者互动平台表示，公司股票预计10月17日开市起复牌。 （文章来源：每日经济新闻） ...

证券代码：002185 证券简称：华天科技 公告编号：2025-047 天水华天科技股份有限公司 关于下属企业出资参与设立产业基金 的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 特此公告。 天水华天科技股份有限公司董事会 2025 年 9 月 17 日，天水华天科技股份有限公司下属企业西安天利投资合伙 企业（有限合伙）（以下简称"西安天利"）与上海盛宇股权投资基金管理有限公 司等共三名出资人签署了《江苏华天盛宇产业投资基金（有限合伙）合伙协议》， 全体合伙人拟以现金出资方式共同投资设立江苏华天盛宇产业投资基金（有限合 伙）（以下简称"产业基金"）。全体合伙人认缴出资总额 20,000 万元，其中西安 天利作为有限合伙人，认缴出资 8,000 万元，认缴比例 40%。具体内容详见 2025 年 9 月 18 日巨潮资讯网（www.cninfo.com.cn）及刊登于《证券时报》的 2025-043 号公司公告。 近日，上述产业基金已在中国证券投资基金业协会完成备案手续，备案信息 如下： 基金名称：江苏华天盛宇产业投资基金（有限合伙） 管理人名称：上 ...

公司所有信息均以在指定信息披露媒体披露的内容为准。因本次交易的有关 事项尚存在不确定性，敬请广大投资者关注公司后续公告并注意投资风险。 特此公告。 天水华天科技股份有限公司（以下简称"公司"）正在筹划发行股份及支付 现金购买资产并募集配套资金暨关联交易事项（以下简称"本次交易"）。因有关 事项尚存不确定性，为了维护投资者利益，避免对公司证券交易造成重大影响， 根据深圳证券交易所的相关规定，经公司申请，公司证券（证券简称：华天科技， 证券代码：002185）自 2025 年 9 月 25 日开市时起开始停牌，预计停牌不超过 10 个交易日。具体内容详见公司于 2025 年 9 月 25 日公告的《关于筹划发行股 份及支付现金购买资产并募集配套资金暨关联交易事项的停牌公告》（公告编号： 2025-045）。 公司以及有关各方正在积极推进本次交易的相关工作。为维护投资者利益， 避免对公司证券交易造成重大影响，根据深圳证券交易所的相关规定，公司股票 将继续停牌。 目前，公司正根据《上市公司重大资产重组管理办法》《公开发行证券的公 司信息披露内容与格式准则第 26 号——上市公司重大资产重组》等规定编制本 次交易预案， ...

Core Insights - Gansu province, often perceived as underdeveloped, has emerged as a significant player in the semiconductor industry, ranking third in integrated circuit production in China with 73.84 billion units in 2024, only behind Jiangsu and Guangdong [1][4] - Tianshui, a city in Gansu, is responsible for the entire integrated circuit output of the province, surpassing major cities like Shenzhen and Suzhou in production volume [7][12] - Despite high production numbers, Tianshui's integrated circuit industry faces challenges, including a focus on low-end chips and a lack of presence in higher-value rankings [12][15] Production and Ranking - In the first half of 2024, Gansu's integrated circuit production reached 43.112 billion units, briefly overtaking Guangdong to become the second-largest producer in the country [4] - From 2017 to 2022, Gansu consistently held the second position in integrated circuit production, only recently being surpassed by Guangdong [4] - Tianshui's contribution of 73.84 billion units in 2024 exceeds that of Shenzhen (66.91 billion units) and Suzhou (41.5 billion units) [7] Industry Characteristics - Tianshui's integrated circuit industry primarily focuses on packaging and testing, lacking in chip design and manufacturing capabilities, which limits its overall industry value [15] - In 2023, Tianshui's integrated circuit industry output value was only 21.16 billion yuan, significantly lower than cities like Shanghai, Wuxi, and Shenzhen, which have industry values in the range of hundreds of billions [12] - Gansu's "14th Five-Year Plan" for electronic information industry development aims to enhance the integrated circuit sector and target high-end markets, with a focus on AI computing power [15]

Core Viewpoint - The semiconductor industry is transitioning into the "post-Moore era," where traditional scaling methods are becoming less effective due to physical limits and rising costs. Advanced packaging technologies are emerging as a key focus area, driven by the demand for AI chips requiring high performance and low latency [1]. Industry Overview - The global advanced packaging market is projected to exceed $79.4 billion by 2030, with a compound annual growth rate (CAGR) of 9.5% from 2024 to 2030, primarily fueled by AI and high-performance computing demands [1]. - Major players in the advanced packaging sector include TSMC, Intel, and Samsung, each adopting unique competitive strategies to dominate the high-end packaging market [1]. TSMC's Advanced Packaging Strategy - TSMC leads the advanced packaging market with its "3D Fabric" platform, which includes CoWoS, InFO, and SoIC technologies, covering various application scenarios [2]. - The CoWoS technology has evolved to its fifth generation, supporting high-density integration and significantly enhancing memory bandwidth for high-performance computing applications [5]. - InFO technology focuses on cost-sensitive applications, enabling low-cost, thin packaging solutions, while SoIC technology allows for true 3D chip stacking [6][10]. Intel's Advanced Packaging Approach - Intel is developing its advanced packaging capabilities through EMIB and Foveros technologies, targeting high-performance computing and AI markets [7]. - EMIB technology connects bare chips using silicon bridges, while Foveros enables vertical stacking of chips, enhancing flexibility and performance [10]. Samsung's Advanced Packaging Innovations - Samsung is advancing its packaging technologies with I-Cube and X-Cube systems, addressing both 2.5D and 3D IC packaging needs [11]. - The I-Cube technology integrates logic chips and HBM on the same interposer, while the X-Cube technology enhances system integration through vertical electrical connections [12][13]. - Samsung is also focusing on SoP (System on Panel) technology, which aims to challenge TSMC's dominance in high-end AI chip packaging by offering larger integration spaces and lower costs [14][16]. Domestic Players in Advanced Packaging - Chinese companies are making strides in the advanced packaging sector, with a projected market size of 69.8 billion yuan in 2024, driven by firms like Changjiang Electronics Technology, Tongfu Microelectronics, and Huatian Technology [17]. - Changjiang Electronics is recognized as a leader in advanced packaging, leveraging its XDFOI Chiplet platform to support high-density interconnections [18]. - Tongfu Microelectronics has established a strong position through collaborations with AMD, focusing on AI and HPC advanced packaging [20]. - Huatian Technology is expanding its capabilities in advanced packaging through significant R&D investments and partnerships [22]. Future Outlook - The global advanced packaging market is expected to reach $56.9 billion by 2025, surpassing traditional packaging for the first time, with domestic firms poised to capture more market share [32]. - The ongoing development of AI computing chips and the trend towards self-sufficiency in high-end advanced packaging present significant opportunities for domestic players to narrow the gap with international leaders [32].

Group 1 - The core viewpoint of the article highlights that the revenue growth of leading OSAT companies in mainland China exceeded 10% year-on-year in the first half of 2025 [2][3] Group 2 - The article provides a ranking of the top 10 OSAT companies globally based on their revenue for the first half of 2025 [3] - It details the regional revenue distribution of the top 10 OSAT companies [3] - The quarterly gross margin of the top 3 OSAT companies in mainland China is analyzed [3] - The inventory turnover days for the top 3 OSAT companies in mainland China are discussed [3] - The capital expenditure of the top 3 OSAT companies in mainland China is presented [3] - Financial metrics including revenue and gross margin for Changdian Technology are outlined [3] - Financial metrics including revenue and gross margin for Tongfu Microelectronics are provided [3] - Financial metrics including revenue and gross margin for Huatian Technology are detailed [3] - Financial metrics including revenue and gross margin for Jingfang Technology are included [3] - Financial metrics including revenue and gross margin for Huicheng Technology are summarized [3] - Financial metrics including revenue and gross margin for Yongxi Electronics are presented [4]

Core Insights - Jiangsu Huatianshengyu Industrial Investment Fund (Limited Partnership) has been established with a capital contribution of 200 million yuan, focusing on equity investment [1] Company Structure - The fund is jointly held by Shanghai Shengyu Equity Investment Fund Management Co., Ltd. and Xi'an Tianli Investment Partnership (Limited Partnership) under Huatiansheng Technology [1]

Core Viewpoint - After failing to go public, Huayi Microelectronics Co., Ltd. plans to achieve a backdoor listing through its "brother" company, Huatian Technology [1][2] Group 1: Acquisition Details - Huatian Technology announced plans to acquire Huayi Microelectronics' equity through a combination of issuing shares and cash payments, constituting a related party transaction [2][5] - The transaction is still in the planning stage, with a preliminary agreement signed with major shareholders, and Huatian Technology expects to disclose the transaction plan within 10 trading days [2][6] - The acquisition is not expected to constitute a major asset restructuring or a reverse listing [2][5] Group 2: Financial Performance of Huayi Microelectronics - Huayi Microelectronics' IPO application was terminated in June 2024, with financial data indicating a shift from profit to loss prior to the withdrawal [4][5] - The company reported revenues of approximately 847 million, 1.16 billion, and 1.157 billion yuan from 2020 to 2022, with net profits of approximately 41.63 million, 88.13 million, and -43.21 million yuan respectively [4][5] Group 3: Financial Performance of Huatian Technology - Huatian Technology has experienced significant fluctuations in net profit, with revenues of approximately 11.906 billion, 11.298 billion, and 14.462 billion yuan from 2022 to 2024, and corresponding net profits of approximately 754 million, 226 million, and 616 million yuan [6][7] - In the first half of the current year, Huatian Technology reported revenues of approximately 7.78 billion yuan, a year-on-year increase of 15.81%, with a net profit of approximately 226 million yuan, a year-on-year increase of 1.68% [7] - The company's revenue composition shows that integrated circuit revenue accounted for 99.97% of total revenue, with a gross margin of 10.89%, reflecting a slight decline [7]

值得注意的是，被收购标的华羿微电此前冲击科创板IPO折戟。上交所官网显示，华羿微电2023年6月 30日申报科创板IPO获受理，2023年7月27日收到首轮问询，2024年6月7日IPO终止。但直到IPO终止， 华羿微电都未回复首轮问询。 【深圳商报讯】（记者 钟国斌）华天科技（002185）近日公告称，公司正在筹划收购华羿微电子股份 有限公司（下称华羿微电），公司股票9月25日起停牌，预计在不超过10个交易日内披露本次交易方 案。若公司未能在上述期限内召开董事会审议并披露交易方案，公司股票最晚将于10月17日开市起复牌 并终止筹划相关事项。 根据公告，华羿微电为公司控股股东的控股子公司，本次交易预计不构成重大资产重组，不构成重组上 市，但构成关联交易。 ...