Piotech

Chinese semiconductor equipment manufacturer

Piotech Inc.

Native name	拓荆科技股份有限公司
Company type	Public; State-owned enterprise
Traded as	SSE: 688072
Industry	Semiconductors
Founded	April 28, 2010; 13 years ago (2010-04-28)
Headquarters	Shenyang, Liaoning, China
Key people	Lü Guangquan (Chairman) Liu Jing (CEO)
Revenue	CN¥1.69 billion (2022)
Net income	CN¥369 million (2022)
Total assets	CN¥7.31 billion (2022)
Total equity	CN¥3.71 billion (2022)
Number of employees	830 (2022)
Website	www.piotech.cn
Footnotes / references ^[1]^[2]

Piotech (also known as Tuojing Technology; Chinese: 拓荆科技; pinyin: Tàjīng Kējì) is a partially state-owned publicly listed Chinese company that manufactures semiconductor chip production equipment.

Background

In April 2010. Piotech was founded by a group of returning international technology veterans from the United States along with the Chinese Academy of Sciences.^[2]^[3]^[4]^[5]

In 2015, Piotech announced that it had received a 270 billion yuan investment from a group that included the China Integrated Circuit Industry Investment Fund and Advanced Micro-Fabrication Equipment. The China Integrated Circuit Industry Investment Fund currently remains the largest shareholder of the company.^[3]^[4]^[6]

According to Piotech's initial public offering (IPO) prospectus in 2021, it has three products lines which are developing equipment for plasma-enhanced chemical vapor deposition (PECVD), atomic layer deposition (ALD) and sub-atmospheric pressure chemical vapor deposition (SACVD). The company's products were used in 14 nm process and above. It had also carried out testing in 10 nm process and below. Its customers included SMIC, Hua Hong Semiconductor, Yangtze Memory Technologies and ChangXin Memory Technologies.^[4]^[5]

On 20 April 2022, Piotech completed its IPO becoming a listed company on the Shanghai Stock Exchange STAR Market.^[2]^[5]

In July 2022, Piotech shares surged 10% after news reported that the United States was pushing the Netherlands to ban ASML Holding from selling certain technology to China to manufacture chips.^[7]

It was speculated that the United States New Export Controls on Advanced Computing and Semiconductors to China that was effective 7 October 2022 would have an impact on Piotech. According to a filing in early 2022, six of the seven key research and development executives of Piotech were American citizens. Many of its top management including chairman and general manager were also Americans.^[8]

In March 2024, Piotech stated its plan to invest 1.1 billion yuan in a high-end semiconductor equipment industrialization base construction project.^[9]

References

^ "688072.CN | Piotech Inc. A Company Profile & Executives - WSJ". www.wsj.com. Archived from the original on 29 March 2024. Retrieved 29 March 2024.
^ ^a ^b ^c "2022 Annual Report" (PDF). Archived (PDF) from the original on 29 March 2024. Retrieved 29 March 2024.
^ ^a ^b Wu, Yong (7 September 2016). "Piotech plans hefty sales, eyeing IPO - Business - Chinadaily.com.cn". www.chinadaily.com.cn. Archived from the original on 29 March 2024. Retrieved 29 March 2024.
^ ^a ^b ^c "Big fund and China Micro Corporation sit on semiconductor equipment manufacturer Tuojing Technology impact Co., Ltd. Some of the products have entered the international advanced process production line". news.metal.com. 14 July 2021. Archived from the original on 29 March 2024. Retrieved 29 March 2024.
^ ^a ^b ^c Zheng, Nathan (5 May 2022). "拓荆科技 Piotech Inc. (688072 CH)" (PDF). Haitong. Archived (PDF) from the original on 29 March 2024. Retrieved 29 March 2024.
^ MarketScreener (30 November 2015). "Piotech Inc. announced that it has received CNY 270 million in funding from Advanced Micro-Fabrication Equipment Inc., Suzhou Juyuan Dongfang Integrated Circuit Industry Investment Fund, Huaxin Investment Management Co., Ltd". www.marketscreener.com. Archived from the original on 29 March 2024. Retrieved 29 March 2024.
^ Liu, John (6 July 2022). "Chinese Chipmakers Surge After US Pushes for More Industry Curbs". Bloomberg.com. Archived from the original on 11 August 2022. Retrieved 29 March 2024.
^ Liu, Coco (17 October 2022). "Ban on US Talent at China Chip Firms Thwarts Xi's Key Ambition". Bloomberg.com. Archived from the original on 18 November 2023. Retrieved 29 March 2024.
^ "With a total investment of 1.1 billion yuan, Tuojing Technology plans to build a "high-end semiconductor equipment industrialization base construction project"". www.yicaiglobal.com. 1 March 2024. Archived from the original on 29 March 2024. Retrieved 29 March 2024.