Core Viewpoint - The advanced packaging index experienced a decline of 2.03% on October 22, with several component stocks showing significant drops in value [1]. Company Performance - Huada Technology saw a decrease of 5.04% [1] - Blue Arrow Electronics dropped by 4.18% [1] - Shenzhen Technology fell by 3.57% [1] - Taiji Industry declined by 3.37% [1] - Galaxy Microelectronics also decreased by 3.37% [1]

Core Viewpoint - Huada Technology announced the establishment of a new investment fund, Jiangsu Huada Shengyu Innovation Growth Investment Fund, with a total commitment of 206 million yuan from ten investors, including a significant contribution from its subsidiary [2] Group 1: Investment Details - The investment fund is established through a partnership agreement signed on September 12, 2025, involving Huada Technology's subsidiary, Xi'an Tianli Investment Partnership, and Shanghai Shengyu Equity Investment Fund Management Co., Ltd. among others [2] - The total subscribed capital for the fund amounts to 206 million yuan, with Xi'an Tianli contributing 30 million yuan, representing a 14.563% stake in the fund [2] - The fund has completed the necessary registration procedures with the Asset Management Association of China [2]

证券代码：002185 证券简称：华天科技 公告编号：2025-054 基金名称：江苏华天盛宇创新成长投资基金（有限合伙） 管理人名称：上海盛宇股权投资基金管理有限公司 托管人名称：交通银行股份有限公司 备案日期：2025 年 10 月 20 日 备案编码：SBHN23 特此公告。 天水华天科技股份有限公司董事会 二〇二五年十月二十二日 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。 2025 年 9 月 12 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 司等共十名出资人签署了《江苏华天盛宇创新成长投资基金（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创新成长投资基 金（有限合伙）（以下简称"专项基金"）。全体合伙人认缴出资总额 20,600 万元， 其中西安天利作为有限合伙人，认缴出资 3,000 万元，认缴比例 14.563%。具体 内容详见 2025 年 9 月 16 日巨潮资讯网（www.cninfo.com.cn）及刊登于《证券 时报》的 ...

Core Viewpoint - The Chiplet sector experienced a decline of 1.02%, indicating a negative trend in the market for this segment [1] Company Performance - Blue Arrow Electronics saw a decrease of 2.8% in its stock price [1] - Huada Technology reported a decline of 2.45% [1] - Cambricon experienced a drop of 2.26% [1]

Core Viewpoint - The A-share market has seen significant gains in semiconductor stocks, with several companies reaching their daily price limits, indicating strong investor interest and market momentum [1] Group 1: Stock Performance - Yuanjie Technology hit the 20% daily limit increase [1] - Taiji Industry and Wentai Technology both reached a 10% daily limit increase [1] - Zhongwei Semiconductor rose over 9% [1] - Canxin Technology increased over 8% [1] - Companies such as Diaomicro, Jucheng Technology, and others saw gains exceeding 7% [1] - A number of other semiconductor stocks, including Hanwha Technology and Chipone Technology, experienced increases of over 5% [1]

Group 1 - Huatian Technology's stock increased by 5.14%, reaching 13.30 CNY per share, with a trading volume of 3.49 billion CNY and a turnover rate of 8.52%, resulting in a total market capitalization of 42.95 billion CNY [1] - Huatian Technology, established on December 25, 2003, and listed on November 20, 2007, is primarily engaged in integrated circuit packaging and testing, with 99.97% of its revenue coming from integrated circuits and 0.03% from LEDs [1] Group 2 - In terms of fund holdings, one fund under Invesco Great Wall has Huatian Technology as a significant investment, holding 897,400 shares, which accounts for 1.09% of the fund's net value, making it the third-largest holding [2] - The Invesco Great Wall CSI 500 Industry Neutral Low Volatility Index A fund (003318) has a total size of 824 million CNY, with a year-to-date return of 13.3% and a one-year return of 19.12% [2] Group 3 - The fund manager of Invesco Great Wall CSI 500 Industry Neutral Low Volatility Index A is Zeng Li, who has been in the position for 7 years and 11 days, managing assets totaling 4.16 billion CNY, with the best return during his tenure being 75.82% and the worst being -16.62% [3]

Core Viewpoint - The Chiplet concept sector experienced a decline, with a drop of 1.02% in overall performance, indicating a negative trend in this industry segment [1] Group 1: Sector Performance - The Chiplet concept sector led the decline in the market, falling by 1.02% [1] - Blue Arrow Electronics saw a decrease of 2.8% [1] - Huada Technology experienced a decline of 2.45% [1] - Cambrian fell by 2.26% [1]

Core Viewpoint - Huatian Technology (002185.SZ), a major player in the domestic semiconductor packaging and testing industry, announced plans to acquire 100% of Huayi Microelectronics, aiming to enhance its business scope and create a second growth curve through this strategic acquisition [1][7]. Group 1: Acquisition Details - The acquisition will be executed through a combination of issuing shares and cash payments, along with raising supporting funds [1]. - Huayi Microelectronics specializes in semiconductor power devices and has a complete capability from chip design to packaging and testing [1][7]. - The acquisition is expected to help Huatian Technology expand its power device packaging and testing business, thereby enhancing its overall business layout [7]. Group 2: Financial Performance - Huatian Technology reported a revenue of 11.298 billion in 2023, a decrease of 5.10% year-on-year, with a net profit of 226 million, down 69.98% [8]. - In 2024, the company achieved a revenue of 14.462 billion and a net profit of 616 million, marking a year-on-year growth of 28% and 172.29%, respectively [8]. - Huayi Microelectronics had total assets of approximately 2.4 billion as of August 2025, with an expected profit exceeding 30 million in Q3 2025, representing a growth of about 80% quarter-on-quarter [2][11]. Group 3: Strategic Importance - The acquisition is categorized as a related party transaction, with Huatian Electronics Group being the controlling shareholder of Huatian Technology [4][5]. - Both companies are expected to benefit from synergies, maximizing customer resource value and enhancing customer loyalty through a more comprehensive product and service offering [11]. - Huayi Microelectronics has a strong client base, including well-known companies such as BYD and DJI, which could enhance Huatian Technology's market position post-acquisition [11].

（文章来源：每日经济新闻） 每经AI快讯，截至10月20日收盘，共7只个股5日量比超过5倍。天普股份5日量比达19.3倍，华天科技5 日量比达12.33倍，善水科技5日量比达10.69倍。 ...

Core Insights - The 2025 Bay Area Semiconductor Industry Ecological Expo concluded in Shenzhen, showcasing over 2,500 new products from various global companies, emphasizing the theme "Chip Enables Future Intelligent Creation" [1][2] - The event attracted participation from more than 20 countries and regions, featuring top semiconductor firms such as Applied Materials, KLA, and domestic leaders like SMIC and BYD, highlighting a comprehensive industry chain [1][2] Group 1 - The expo served as a platform for "technological breakthroughs," allowing domestic companies to present key achievements that challenge foreign monopolies [1] - Approximately 5,000 professional buyers from leading companies attended, including major players like Samsung and Foxconn, facilitating effective connections between domestic and international industry resources [2] - The event fostered a "dual approach" of innovation and market engagement, with many enterprises seeking solutions for technical challenges and new market demands [2] Group 2 - The participation of renowned companies from 27 countries and regions expanded the "friend circle" of the semiconductor industry in the Guangdong-Hong Kong-Macao Greater Bay Area [2] - The expo included targeted matchmaking services, enhancing collaboration on policy consultation, resource sharing, and capital investment among semiconductor hubs like Shanghai and Wuxi [2]