Wuhan Jingce Electronic Technology Co Ltd

China's first 3D advanced packaging mass-production line, the second-phase project of the Xingchen Technology advanced packaging pilot platform, officially went live on September 30, with the first batch of wafers successfully coming off the line. Xingchen Technology is headquartered in Wuhan and was incubated by the Hubei Jiangcheng Laboratory. It focuses on integrated circuit 3D advanced packaging technology and is one of the few domestic companies with full capabilities in 3D heterogeneous integration, precise chiplet stacking, and multi-dimensional chip packaging process development and mass production. Its advanced packaging integrated experimental platform began construction in 2024, with total investment in phases one and two exceeding 7 billion yuan. Phase one has already gone live and has helped nearly 30 high-performance chips complete pilot tape-outs, while providing verification services for 35 domestic packaging equipment items and 11 types of specialized materials. The second-phase project that went live this time started construction in October 2025, further adding 2.5D capabilities on top of the existing 3D advanced packaging process platform. According to the plan, it will reach full production in the first quarter of 2027, forming a capacity of 20,000 wafers per month, and will be able to simultaneously support pilot production and risk mass production for 40 to 50 chip models, as well as application verification for 30 to 40 sets of domestic semiconductor equipment and materials. In May this year, Xingchen Technology completed a Series A financing round of nearly 5 billion yuan, of which newly introduced shareholder investment reached 4.5 billion yuan, setting a new record for the largest single financing in China's integrated circuit advanced packaging sector in 2026. Investors include Hillhouse Ventures, Sequoia China, Legend Capital, CICC Capital, CMB International Capital, and Shenzhen Capital Group. Jingce Electronic is the second-largest shareholder of Xingchen Technology, with a latest stake of approximately 16.9842 percent. By holding equity in Xingchen Technology, the company is actively expanding into the semiconductor advanced packaging sector and extending from front-end metrology equipment into the semiconductor manufacturing and packaging industry chain.

Digiwin Software reported first-half 2026 revenue of 1.101 billion yuan, up 5.37% year on year, with net profit attributable to the parent of 188 million yuan, up 318.5%. Meanwhile, Guangdong Wannianqing's controlling subsidiary Wanhong Zhisuan signed a GPU cloud computing service procurement agreement with Company A, with a total contract value of 1.244 billion yuan. Yakang's subsidiary signed a general computing power technical service agreement with a contract value of 925 million yuan including tax. In addition, Jingce Electronic reported first-half revenue of 1.812 billion yuan, up 31.19% year on year, with net profit attributable to the parent of 75.0349 million yuan, up 171.21%, and an order backlog of about 5.589 billion yuan. Yinbang Clad Material, Injoinic Technology, Range Intelligent Computing Technology and other companies also disclosed first-half earnings growth.

Jingce Electronic has released its semi-annual report for 2026, reporting operating revenue of 1.812 billion yuan, up 31.19% year-on-year, and net profit attributable to shareholders of the listed company of 75.0349 million yuan, up 171.21% year-on-year. The profit growth was mainly driven by scaled mass production of the company's semiconductor products, enhanced delivery capabilities, and continued growth in its display inspection business. The company plans not to distribute cash dividends, not to issue bonus shares, and not to convert capital reserves into share capital. It is worth noting that the company's net profit in the second quarter was 32 million yuan, compared with 43 million yuan in the first quarter, implying a quarter-on-quarter decline of 24% in second-quarter net profit.

Jingce Electronic announced plans to acquire a 41.17% stake in Shanghai Jingce Semiconductor Technology through a combination of share issuance, convertible corporate bonds, and cash payment. Upon completion, it will achieve 100% control of the company. Its shares and convertible bonds will resume trading on July 16. The issuance price for the new shares is set at 154.38 yuan per share, nearly half the closing price of 297.10 yuan before the suspension. The initial conversion price for the convertible bonds is also 154.38 yuan per share. Jingce Electronic previously held a 58.83% stake in Shanghai Jingce. Since 2025, it has acquired a 4.825% stake from the National Integrated Circuit Industry Investment Fund for 183 million yuan and transferred a 2.4124% stake to an employee stock ownership platform and core technical personnel. Shanghai Jingce has secured large contracts since 2026, signing semiconductor inspection and measurement equipment sales contracts worth 516 million yuan in May and a bright-field defect inspection equipment contract worth 135 million yuan in June. Jingce Electronic stated that this acquisition aims to further focus on the semiconductor sector and enhance its sustainable operating capability.

Tianzhihang and Jingce Electronic separately announced major asset restructuring plans on the evening of July 15. Tianzhihang plans to acquire a controlling stake in Shanghai Minimally Invasive Orthopedics Medical Technology through a share issue and raise supporting funds. Trading in its shares will be suspended from July 16, with a previous closing price of 19.09 yuan and a total market value of 8.904 billion yuan. Jingce Electronic intends to acquire a 41.17 percent stake in Shanghai Jingce Semiconductor Technology through a combination of share issuance, convertible bonds, and cash, along with raising supporting funds. The share issue price is set at 154.38 yuan per share, a 48.04 percent discount to the pre-suspension closing price of 297.10 yuan. Trading in its shares and convertible bonds will resume on July 16, with a total market value of 83.11 billion yuan. Tianzhihang stated that the transaction will help complete its orthopedic product portfolio and accelerate internationalization. The target company is a subsidiary of Minimally Invasive Medical, engaged in joint reconstruction business overseas, with its medial pivot knee products having been implanted in over one million cases globally. Jingce Electronic said the deal will sharpen its focus on the semiconductor sector. Shanghai Jingce Semiconductor specializes in front-end semiconductor inspection and metrology equipment, and will become a wholly owned subsidiary upon completion of the transaction.

Jingce Electronic announced that the company is planning to acquire part of the equity in its controlled subsidiary, Shanghai Jingce Semiconductor Technology, through the issuance of shares, convertible corporate bonds, and cash payments, along with raising supporting funds. The transaction is expected to constitute a major asset restructuring and a related-party transaction. Due to uncertainties, trading in the company's shares and convertible bonds will be suspended from July 9, with the transaction plan expected to be disclosed within no more than 10 trading days. Shanghai Jingce achieved operating revenue of 1.211 billion yuan and net profit of 202 million yuan in 2025, with Jingce Electronic currently holding a 58.8336% stake. Since 2026, Shanghai Jingce has secured multiple large contracts, signing sales contracts worth 516 million yuan in May and a 135 million yuan contract for bright-field defect inspection equipment in June. Jingce Electronic stated that this transaction will not lead to a change in actual controller, and it has signed a conditional asset purchase agreement with the main transaction counterparties.