Core Viewpoint - Huatian Technology (002185.SZ), a leading domestic semiconductor packaging company, resumed trading on October 17, with its stock price hitting the daily limit at 12.96 yuan per share, resulting in a market capitalization of 41.85 billion yuan. The company announced a plan to acquire 100% of Huayi Microelectronics through a combination of share issuance and cash payment, which is expected to enhance its business in power device packaging and testing [2][3]. Group 1 - The acquisition involves issuing shares at a price of 8.35 yuan per share, which is not less than 80% of the average trading price over the previous 120 trading days [2]. - Huayi Microelectronics, a subsidiary of Huatian Electronic Group, focuses on the R&D, production, and sales of semiconductor power devices and is one of the few high-tech enterprises in China that integrates R&D design, packaging testing, reliability verification, and system solutions [2][3]. - The transaction is not expected to constitute a major asset restructuring or a restructuring listing but is classified as a related party transaction [2]. Group 2 - The acquisition is aimed at enhancing Huatian Technology's packaging and testing business, allowing it to cover various segments including integrated circuits and discrete devices, and to extend its own brand product development in power devices across automotive, industrial, and consumer levels [3]. - For the first half of 2025, Huatian Technology reported revenue of 7.78 billion yuan, a year-on-year increase of 15.81%, and a net profit of 226 million yuan, up 1.68% year-on-year [3]. - Huayi Microelectronics had previously applied for an IPO on the Sci-Tech Innovation Board but withdrew its application in July 2023, with its net profit facing challenges in recent years [3].

Core Viewpoint - Huatian Technology has announced a non-public offering plan to acquire 100% of Huayi Microelectronics, aiming to enhance its packaging and testing business in the power device sector [1] Group 1: Acquisition Details - The company plans to purchase Huayi Microelectronics from 27 counterparties, including Huatian Electronics Group and Xian Houyi Investment, through a combination of share issuance and cash payment [1] - Huayi Microelectronics is recognized as one of the few high-tech enterprises in China that integrates research and development, packaging testing, reliability verification, and system solutions for power devices [1] Group 2: Strategic Implications - This acquisition will allow the company to quickly improve its packaging and testing business layout and expand its operations in the power device packaging and testing sector [1] - The integration will enable the company to offer a more comprehensive range of packaging and testing products across various segments, including integrated circuits and discrete devices [1] - Additionally, the company aims to extend its own brand product development, design, and sales in power devices, covering automotive, industrial, and consumer-grade products, thereby creating a second growth curve and new revenue streams [1]

Core Viewpoint - Huatian Technology plans to acquire 100% equity of Huayi Microelectronics, which previously attempted to list on the Sci-Tech Innovation Board [2][5] Group 1: Transaction Details - The acquisition will be conducted through a combination of issuing shares and cash payments to 27 parties, including Huatian Electronic Group and Xian Houyi Investment [4] - The company intends to raise matching funds from no more than 35 specific investors, with the total amount not exceeding 100% of the transaction price for the share issuance [4] - The transaction will not change the controlling shareholder or actual controller of the company, thus it does not constitute a restructuring listing [4] Group 2: Company Performance and Strategy - Huayi Microelectronics is a high-tech enterprise specializing in power device R&D, packaging testing, reliability verification, and system solutions [6] - The company has shown consistent profit growth since 2025, with an expected net profit exceeding 30 million yuan in Q3 2025, representing a more than 80% quarter-on-quarter increase [6] - The acquisition aims to enhance Huatian Technology's packaging testing business and extend its product offerings in power devices, targeting automotive, industrial, and consumer-grade products [6][7] Group 3: Market Position - Before the acquisition, Huatian Technology focused on integrated circuit packaging testing, ranking among the top three in China and sixth globally [7] - The transaction is expected to maximize customer resource value for both companies, leveraging their complementary customer structures [7]

Core Viewpoint - Huatian Technology plans to acquire 100% equity of Huayi Microelectronics, which previously applied for an IPO on the Sci-Tech Innovation Board [2][5] Group 1: Acquisition Details - The acquisition will be conducted through a combination of issuing shares and cash payments to 27 parties, including Huatian Electronic Group and Xi'an Houyi Investment [4] - The company intends to raise matching funds from no more than 35 specific investors, with the total amount not exceeding 100% of the transaction price for the asset purchase [4] - The transaction will not change the controlling shareholder or actual controller of the company, thus it does not constitute a reverse listing [4] Group 2: Target Company Overview - Huayi Microelectronics is one of the few high-tech enterprises in China that integrates power device R&D, packaging testing, reliability verification, and system solutions [6] - The company has shown consistent profit growth, with an expected net profit of over 30 million yuan in Q3 2025, representing a more than 80% quarter-on-quarter increase [6] Group 3: Strategic Implications - The acquisition will enhance Huatian Technology's packaging testing business, allowing it to cover integrated circuits and discrete devices, thus providing a more comprehensive product offering [6][7] - The deal is expected to create a second growth curve by extending the R&D, design, and sales of proprietary power device products across automotive, industrial, and consumer grades [6][7] - The transaction aims to maximize customer resource value and optimize the company's industrial layout, thereby improving its core competitiveness [7]

Core Viewpoint - The company plans to acquire 100% of Huayi Microelectronics through a combination of issuing shares and cash payments, aiming to enhance its capabilities in the semiconductor power device sector [1][2] Group 1: Acquisition Details - The acquisition involves 27 counterparties, including Huatiang Electronics Group and Xian Houyi Investment, with shares priced at 8.35 yuan per share [1] - The fundraising price for the accompanying funds will not be less than 80% of the average trading price of the company's stock over the 20 trading days prior to the pricing benchmark [1] Group 2: Huayi Microelectronics Overview - Huayi Microelectronics is recognized as a high-tech enterprise in China, specializing in power device R&D, packaging testing, reliability verification, and system solutions [1] - The company boasts a strong R&D team with international experience in semiconductor power device design and core packaging testing technology [1] - It has established integrated design and production capabilities supported by device design, wafer process R&D, and packaging testing technology [1] Group 3: Strategic Implications - The acquisition will allow the company to enhance its packaging testing business and expand its product offerings across various segments, including integrated circuits and discrete devices [2] - The company aims to develop its own brand of power devices for automotive, industrial, and consumer applications, creating a second growth curve and new revenue streams [2] - The company's securities are set to resume trading on October 17, 2025 [2]

Core Viewpoint - The company plans to acquire 100% of Huayi Microelectronics through a combination of issuing shares and cash payments, aiming to enhance its capabilities in the semiconductor power device sector [1][2] Group 1: Acquisition Details - The company intends to issue shares at a price of 8.35 yuan per share to finance the acquisition of Huayi Microelectronics [1] - The fundraising price for the additional capital will not be less than 80% of the average trading price of the company's shares over the 20 trading days prior to the pricing benchmark [1] Group 2: Huayi Microelectronics Overview - Huayi Microelectronics is recognized as one of the few high-tech enterprises in China that integrates power device R&D, packaging testing, reliability verification, and system solutions [1] - The company boasts a research team with international experience in semiconductor power device design and core packaging testing technology [1] - It has established a comprehensive design and production capability supported by device design, wafer process R&D, and packaging testing technology [1] Group 3: Strategic Benefits - The acquisition will allow the company to enhance its packaging testing business and expand its offerings across various segments, including integrated circuits and discrete devices [2] - The company aims to extend its own brand product development, design, and sales in power devices, targeting automotive, industrial, and consumer-grade products [2] - This move is expected to create a second growth curve and new revenue streams, thereby improving the company's core competitiveness [2] Group 4: Market Position - According to the Shaanxi Semiconductor Industry Association, Huayi Microelectronics is projected to lead in both revenue and market share among semiconductor power device companies in Shaanxi Province for the year 2024 [1]