华天科技拟20亿加码先进封装测试 五年研发费35亿提高市场竞争力

Core Viewpoint - Huada Technology plans to enhance its advanced packaging testing business by establishing a wholly-owned subsidiary, Nanjing Huada Advanced Packaging Co., Ltd., with a registered capital of 2 billion yuan to strengthen its competitive position in the advanced packaging sector [1][2]. Group 1: Investment and Expansion - The new subsidiary will focus on advanced packaging testing, specifically 2.5D/3D technologies, with a total registered capital of 2 billion yuan, where Huada Jiangsu contributes 1 billion yuan (50%) [2]. - Huada Technology is investing 3 billion yuan in the Pangu Semiconductor Advanced Packaging Project, which is set to begin construction in 2024 and achieve partial production by 2025 [3]. - The company is also launching a 4.8 billion yuan upgrade project for automotive electronic products, expected to generate an additional annual revenue of 2.159 billion yuan [3]. Group 2: Financial Performance - In 2024, Huada Technology reported a revenue of 14.46 billion yuan, a year-on-year increase of 28%, and a net profit of 616 million yuan, up 172.29% [4]. - The company experienced a temporary net loss of 19 million yuan in Q1 2025, despite a 14.9% increase in revenue to 3.569 billion yuan, attributed to declines in investment income and fair value of financial assets [5]. Group 3: Research and Development - From 2020 to 2024, Huada Technology's cumulative R&D expenditure reached 3.457 billion yuan, with annual R&D expenses increasing each year [5][6]. - In Q1 2025, R&D expenses were 243 million yuan, a 29.87% increase year-on-year, with the R&D expense ratio rising to 6.81%, marking a recent high [6]. - The company achieved significant progress in 2024, including the completion of the 2.5D production line and obtaining 29 authorized patents, demonstrating its commitment to technological innovation [6].