Tianshui Huatian Technology (SZ:002185) 芯世相·2026-02-12 03:33Core Viewpoint - The article discusses the acquisition of 100% equity of Shaanxi Huayi Microelectronics by Gansu Tianshui Semiconductor Packaging and Testing Giant Huatian Technology for a transaction price of 2.996 billion yuan, highlighting the strategic importance of this deal in enhancing Huatian's competitive edge in the semiconductor industry [6][12]. Group 1: Company Overview - Huatian Technology, established in December 2003, focuses on integrated circuit packaging and testing, ranking among the top three in mainland China and sixth globally, with the highest revenue growth rate among the top ten packaging and testing manufacturers in 2024 [6][7]. - Huayi Microelectronics, founded in June 2017, specializes in high-performance power devices and is recognized as a high-tech enterprise in China, leading the market share in Shaanxi province for 2023 and 2024 [8][9]. Group 2: Transaction Details - The transaction involves a valuation increase of 166.17% for Huayi Microelectronics, with the purchase price set at 2.996 billion yuan [7]. - Post-transaction, Huatian's shareholding structure will change, with Huatian Electronic Group's stake increasing from 22.33% to 25.97% [10]. Group 3: Financial Impact - Following the acquisition, Huatian Technology's total assets, net assets, revenue, total profit, and net profit attributable to shareholders are expected to rise, while the basic earnings per share will remain consistent with pre-transaction levels [11]. - Huayi Microelectronics reported net profits of -149 million yuan, 14.53 million yuan, and 50.13 million yuan for the years 2023, 2024, and the first nine months of 2025, indicating significant fluctuations influenced by market conditions [10]. Group 4: Strategic Implications - The acquisition will enable Huatian Technology to expand its power device packaging business, enhancing its competitive advantage in the semiconductor packaging sector [12]. - The deal aligns with national strategies for domestic substitution and self-control, positioning the semiconductor industry for significant growth opportunities amid a trend of accelerated mergers and acquisitions [12].