Tianshui Huatian Technology Co. (002185) Q4 2025 earnings summary

Executive summary

• Achieved revenue of ¥17.21 billion in 2025, up 19.03% year-over-year, with net profit attributable to shareholders of ¥710.51 million, up 15.30% year-over-year.

• Integrated circuit packaging volume reached 62.88 billion units, up 9.33%, and wafer-level packaging reached 2.12 million wafers, up 20.16%.

• Strategic focus on automotive electronics, AI, and advanced packaging technologies, with major R&D progress and 48 new patents granted.

• Initiated acquisition of Huayi Microelectronics to expand power device R&D and packaging business.

Financial highlights

• Revenue: ¥17.21 billion (+19.03% YoY); Net profit attributable to shareholders: ¥710.51 million (+15.30% YoY).

• Gross margin for integrated circuits: 13.30%; domestic sales accounted for 63.49% of revenue, foreign sales 36.51%.

• Operating cash flow: ¥3.47 billion (+12.08% YoY); total assets: ¥43.12 billion (+14.6% YoY).

• R&D expenses: ¥1.04 billion (+9.98% YoY), representing 6.03% of revenue.

• Basic EPS: ¥0.22; weighted average ROE: 4.14%.

Outlook and guidance

• 2026 revenue target set at ¥20 billion, with focus on AI, memory, CPU/GPU, CPO, and automotive electronics markets.

• Plans to accelerate advanced packaging R&D and mass production, especially 2.5D, FCBGA, SiP, and CPO technologies.

• Continued emphasis on quality management, lean production, and cost optimization.

• Ongoing integration of Huayi Microelectronics acquisition to enhance power device business.