Huitong Energy(SH:600605) Cai Fu Zai Xian·2025-08-12 03:50Core Viewpoint - The company, Shanghai Huitong Energy Co., Ltd., is making its first direct investment in the semiconductor industry by acquiring a 7.43% stake in Xinghua Chip (Shaoxing) Semiconductor Technology Co., Ltd. through equity transfer and capital increase, aiming to enhance its presence in the semiconductor and intelligent manufacturing sectors [1][4]. Group 1: Company Background and Business Transformation - Huitong Energy, originally a state-owned enterprise focused on light industry machinery, has undergone several business transformations, shifting from wind power to real estate, and now to light asset businesses such as property leasing and decoration services [2]. - The company has accumulated significant cash reserves, reaching 1.46 billion by the end of 2024, following the divestment of its real estate development business [2]. Group 2: Strategic Investment in Semiconductor Sector - In April 2023, Huitong Energy's subsidiary, Huidexinyuan, invested 30 million in the Yuanhe Puhua Industrial Fund, marking the company's entry into the semiconductor and hard technology sectors [3]. - The investment in Xinghua Chip represents a strategic move to capitalize on the domestic semiconductor market, particularly in the photomask industry, which is crucial for semiconductor manufacturing [5][6]. Group 3: Industry Context and Future Prospects - The photomask market is characterized by high concentration and foreign monopolies, creating challenges for domestic chip manufacturers who face supply chain constraints [5]. - With the support of industry leader Dr. Zhang Rujing, Huitong Energy aims to contribute to the domestic semiconductor supply chain and enhance production capabilities, with Xinghua Chip projected to reach a monthly production capacity of 3,000 photomasks after the second phase of production [5][6].