华羿微电子IPO中止一年后，迎来了华天科技（002185）的并购。 华天科技发布公告称：拟通过发行股份及支付现金的方式向华天电子集团、西安后羿投资、芯天钰铂等27名交易对方购买标的公司华羿微电100%股份，并 募集配套资金。 这起估值48亿元的交易，不仅是陕西民营企业年内最大并购案，更折射出IPO收紧背景下，创投机构退出路径正在转向。 此次收购的核心是"同门整合"。 华羿微电子是华天科技控股股东天水华天电子集团的控股子公司，两者实际控制人均为肖胜利父子。华天集团持有华羿微电子64.95%的股权，同时持有华 天科技21.91%的股权。 2017年，华羿微电子成立，彼时西安奕材（688783）亦开始起步。华羿微电子核心业务为高性能功率器件研发、设计、封装测试、销售，形成"设计+封 测"双赛道布局，主要产品包括自有品牌以及封测产品。 虽然成立时间不久，但是背靠华天集团，华羿微电子发展迅速。根据中国半导体行业协会统计，2022年公司销售规模位列中国半导体功率器件企业第十三 名，如果剔除掉IDM模式的厂商，华羿微电子可以排到全国前五。在陕西省来说，其更是位列半导体功率器件企业首位。 对于华天科技来说，整合华羿微电，一方 ...

Group 1 - Huatian Technology is planning to acquire Huayi Microelectronics, a subsidiary of its controlling shareholder, Tianshui Huatian Electronics Group [1][2] - The acquisition is expected to involve issuing shares and cash payments, along with raising supporting funds, and is classified as a related party transaction [1] - Huatian Technology's stock will be suspended from trading starting September 25, 2025, with a transaction plan to be disclosed within 10 trading days [1] Group 2 - Huayi Microelectronics had a failed IPO attempt in June 2023, which was terminated due to a lack of response to initial inquiries from the Shanghai Stock Exchange [2][4] - The company specializes in the research, production, and sales of semiconductor power devices, and has a dual-driven business strategy of design and packaging testing [4] - Financial data from 2020 to 2022 shows Huayi Microelectronics' revenue was 847 million yuan, 1.16 billion yuan, and 1.16 billion yuan, with net profits of 41.63 million yuan, 88.13 million yuan, and a loss of 43.21 million yuan respectively [4][5] Group 3 - Huatian Technology, established in December 2003 and listed in November 2007, primarily engages in integrated circuit packaging and testing, with over 99% of its revenue coming from this segment [5][6] - From 2021 to 2024, Huatian Technology's revenue grew from 12.1 billion yuan to 14.46 billion yuan, while net profit declined from 1.416 billion yuan to 616 million yuan [6][7] - The company's financial performance heavily relies on government subsidies and tax incentives, with significant amounts reported in recent financial statements [8][9] Group 4 - As of September 24, 2025, Huatian Technology's stock price was 11.78 yuan per share, giving it a market capitalization of approximately 38 billion yuan [10] - The company has over 400,000 shareholders as of June 30, 2025 [12]