Piotech (SH:688072) Mei Ri Jing Ji Xin Wen·2025-09-13 02:23Core Viewpoint -拓荆科技 is seeking to enhance its subsidiary,拓荆键科, through a capital increase involving multiple external investors, including国投集新, which will become the second-largest shareholder post-investment [1][3]. Group 1: Investment and Financial Details - The capital increase aims to support the rapid development of拓荆键科 in the three-dimensional integration equipment sector [2][3]. - The total investment from six entities in this capital increase is structured, with拓荆科技 and国投集新 each contributing up to 450 million yuan, while employee stockholding platforms and other investors contribute smaller amounts [2][3]. - The pre-investment valuation of拓荆键科 is set at 2.5 billion yuan, reflecting a significant increase in value [3]. Group 2: Business Focus and Market Trends -拓荆科技 operates in the high-end semiconductor equipment sector, focusing on the research and production of three-dimensional integration equipment [2][4]. - The company is responding to the shift towards new architectural designs and chip stacking methods as the semiconductor industry approaches physical limits [2][5]. - The demand for high-end semiconductor equipment is expected to grow due to increased capital expenditures and capacity expansions in wafer fabrication plants driven by emerging fields like artificial intelligence and high-performance computing [5][6]. Group 3: Expansion Plans -拓荆科技 plans to invest 1.768 billion yuan in a high-end semiconductor equipment industrialization base to significantly enhance production capacity [5]. - An additional 2 billion yuan is allocated for a cutting-edge technology research and development center to optimize existing thin film deposition equipment [5][6]. - The company acknowledges the current limitations in domestic technology and aims to bridge the gap with international standards through these investments [5][6].