The acquisition represents a crucial strategic move for Piotech Inc., aimed at addressing gaps in its business and enhancing its product portfolio.
Recently, Piotech Inc., a leading domestic semiconductor thin-film deposition equipment manufacturer, disclosed a major asset restructuring plan. The company intends to acquire a controlling stake in Wuxi Shangji Semiconductor Technology Co., Ltd. through a combination of share issuance and cash payment, while also raising supporting funds concurrently.
According to the company announcement, subject to regulatory approval, Piotech Inc.'s stock is scheduled to resume trading officially on Monday, July 13, 2026. The completion of this acquisition marks the company's formal strategic upgrade from a single-equipment manufacturer to a comprehensive core process solution provider.
The detailed contents of the restructuring plan reveal that Piotech's asset acquisition is structured comprehensively, aiming to achieve 100% full ownership of Wuxi Shangji. The specific transaction plan involves the direct acquisition of 82.97% of Wuxi Shangji's shares, alongside the acquisition of 100% equity in two holding platforms: Shanghai Tainawei Enterprise Management Co., Ltd. and Wuxi Kuanxing Enterprise Management Co., Ltd.
It is reported that Shanghai Tainawei and Wuxi Kuanxing solely function as holding entities for Wuxi Shangji with no other operational business. Upon completion of this acquisition, Piotech will gain complete control over all equity of Wuxi Shangji through direct and indirect holdings, achieving full integration of the target asset.
Concurrently, the company plans to issue shares to no more than 35 specific investors to raise supporting funds, providing financial backing for the acquisition's execution and subsequent technology R&D and capacity expansion.
As the core target of this restructuring, Wuxi Shangji, though established in June 2021 and a relatively new player in the domestic semiconductor equipment field, has demonstrated precise technology positioning and operates in high-quality product segments, rapidly ascending into the ranks of core domestic semiconductor equipment suppliers.
The company's core products comprehensively cover key semiconductor manufacturing process equipment such as PVD (Physical Vapor Deposition), ETCH, and CVD (Chemical Vapor Deposition). It focuses on the R&D, production, and sales of semiconductor equipment, possessing significant domestic competitive advantages in specific segments like power semiconductors, MEMS sensors, and RF chips, with its technical capabilities and product performance having reached leading domestic levels.
This acquisition is a pivotal strategic move for Piotech to fill business gaps and perfect its product matrix. For a long time, Piotech has deeply cultivated the semiconductor thin-film deposition equipment sector, accumulating substantial technical barriers and market reputation in equipment segments like PECVD, ALD, and Gap-Fill CVD, establishing itself as a core leader in the localization of domestic thin-film deposition equipment.
However, PVD physical vapor deposition equipment and ETCH equipment have remained gaps in the company's original product lines. These two types of equipment are indispensable core tools for semiconductor wafer manufacturing, advanced packaging, and specialty process production, and are also key links in the localization of the domestic semiconductor industry chain.
Semiconductor manufacturing processes heavily rely on three core equipment categories: thin-film deposition, etching, and lithography. Single-category equipment manufacturers struggle to meet the integrated, one-stop procurement and process R&D needs of wafer fabs. Platform-based, full-category layout has become the development trend for global semiconductor equipment leaders.
Following the completion of this acquisition, Piotech will swiftly address the gaps in PVD and etching equipment, forming a complete core equipment matrix encompassing "multi-category thin-film deposition + etching." This move will allow the company to move beyond the limitations of being a single-equipment manufacturer, achieving comprehensive coverage of core semiconductor process equipment.
From an industrial synergy perspective, the value of this restructuring is significant. On one hand, the downstream application scenarios of both parties are highly complementary, enabling comprehensive coverage of manufacturing demands across multiple fields such as logic chips, power semiconductors, memory chips, and MEMS devices.
This capability allows the company to provide integrated equipment support and process solutions to downstream wafer fabs, significantly enhancing the customer experience for one-stop procurement and cooperation stickiness, thereby broadening the company's market coverage.
On the other hand, the two parties can achieve deep integration in R&D, technology, supply chain, and customer resources. Leveraging Piotech's mature industrial system, customer channels, and R&D platform, combined with Wuxi Shangji's core technology reserves and R&D team in the PVD and etching fields, will accelerate new technology iteration and new product launch, reduce R&D costs, and improve overall R&D efficiency.
Against the backdrop of accelerating domestic semiconductor equipment localization, this acquisition holds significant industrial importance. Currently, some segments of domestic core semiconductor equipment still rely on imports, and the domestic penetration rates for PVD and etching equipment have considerable room for improvement.
Piotech's strategic integration is not only a critical step for the company's own transformation, upgrade, and breakthrough of development bottlenecks but also serves as a typical example of industrial consolidation and collective breakthrough within the domestic semiconductor equipment industry.
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