Company at a glance
Scale
Revenue up 52% since FY2023
Growth prospects
Expanding customer base and product roadmap
FY2025 revenue about 17.21B CNY (FY2024 about 14.46B CNY; FY2023 about 11.30B CNY); TTM revenue about 18.44B CNYChina competition
Competes with JCET, Tongfu Microelectronics, SJ Semiconductor, SMIC ecosystem in Advanced packaging — peers listed at sector level.
SubstituteGlobal comparables
Global reference set: TSMC, ASE, Amkor.
ASE and Amkor as global benchmark OSATs.Technical gap
Sector rated substitute vs the frontier.
Obstacles
Sector bottleneck applies
2.5D/3D integration, interposers, HBM attach, thermal management, substrate supply, and yield.Official filings: static.cninfo.com.cn ↗
All sourced facts (9)
- Headquarters: Tianshui, Gansu, China
- Employees: Approximately 33,887 employees
- Revenue / scale: FY2025 revenue about 17.21B CNY (FY2024 about 14.46B CNY; FY2023 about 11.30B CNY); TTM revenue about 18.44B CNY
- Market cap / valuation: Market cap about 72.65B CNY
- Listing status: Shenzhen Stock Exchange · 002185 · A-share (CNY)
- Founding and HQ: Founded December 25, 2003 and headquartered in Tianshui, Gansu.
- Listing: Listed on the Shenzhen Stock Exchange in 2007; ticker 002185.
- Scale marker: One of mainland China's largest OSAT companies; reported employee count was 26,427 in 2023.
- Acquired footprint: Acquired FlipChip and Malaysia-based Unisem in 2019, extending the group beyond a purely domestic packaging footprint.
About
Outsourced semiconductor assembly and test: packaging, wafer-level packaging, final test, and module/integration services for fabless, IDM, and system customers. The company should be analyzed as a back-end services platform, not a chip designer.
Tianshui · Ticker 002185
Why it matters
Huatian matters because China's chip stack needs more than front-end fabs. Packaging and test determine whether domestic die become usable products, and Huatian gives the tracker another major OSAT node alongside JCET and Tongfu.
Where it sits in the stack
Advanced packaging
2.5D/3D integration, interposers, HBM attach, thermal management, substrate supply, and yield.
Assembly & test (OSAT)
High-end package complexity, global customer mix, test equipment access, and advanced substrate supply.
Key semiconductor products
- System-in-package (SiP) integration.
- FlipChip and Unisem capacity as important overseas and higher-end packaging assets.
- Semiconductor packaging
- Advanced packaging
- Chiplet packaging
- Final test
Financials
002185.SZ · Shenzhen Stock Exchange 002185 · via Yahoo Finance ↗
Financial trajectory via annual filings via Yahoo Finance
RMB billionsMarket data refreshed daily; annual figures from exchange filings. Figures in the reporting currency shown on the chart.
Ecosystem
Ecosystem links
- Huatian Kunshan
- UNISEM
- Pangu Semiconductor
- Huatian Jiangsu
- Huatian Nanjing
Customers / end markets
- Likely end markets include consumer electronics, communications, industrial, automotive, and computing customers; Huatian does not publicly name specific customer relationships
- For the relationship graph, Huatian should be represented as a supplier/qualification node for fabless firms and IDMs requiring packaging and test
Global peer set
- ASE and Amkor as global benchmark OSATs
- JCET, Tongfu, and Powertech as peer nodes for China/Taiwan OSAT topology
Affiliates
- Huatian Kunshan
- Huatian Jiangsu
- Huatian Nanjing
- Pangu Semiconductor
- UNISEM
Competitive position
- China position: Leading / Substitute in OSAT. Huatian is not the largest Chinese OSAT, but it is part of the core domestic packaging triad with JCET and Tongfu.
- Global reference companies: ASE, Amkor, JCET, Powertech, Tongfu, and UTAC.
- Best strength metric: technology mix, overseas capacity, customer concentration, and utilization by end market, not just headline revenue.
- Reliant on customer wafer volume and upstream die/equipment supply; no specific bottleneck identified in signals.
- Global comparables: ASE and Amkor as global benchmark OSATs.
- Global comparables: JCET, Tongfu, and Powertech as peer nodes for China/Taiwan OSAT topology.
- Advanced packaging constraints include substrate supply, bumping, wafer-level process control, high-end test equipment, and customer qualification.
- The loop should track whether Huatian's overseas assets create customer access or simply add mature back-end capacity.
Recent activity
- FY2024—2024 revenue grew about 28% year-over-year and net profit attributable to the parent grew about 172%, driven by recovering electronics demand, rising orders, and higher capacity utilization. [via static.cninfo.com.cn]
- 2024—Reported Chiplet orders and continued advanced-packaging capacity build-out. [via static.cninfo.com.cn]
Milestones and signals
- 2026—Installed Base: ~33,887 employees
- 2026-10-04—Market cap: RMB 54.8B
- FY2025—Revenue: RMB 17.2B
- FY2025—Net Profit: RMB 711M
- Listing—Shenzhen Stock Exchange · 002185 · A-share (CNY)
What to watch
- How revenue splits across Huatian's packaging technology portfolio.
- End-market revenue breakdown as segment reporting evolves.
- Huatian's rank among China's OSAT vendors.
Answered questions
Last reviewed 2026-07-01What packaging families drive revenue: conventional, SiP, TSV, fan-out, WLP, or flip-chip?
Revenue: RMB 17.2B (FY2025).
Which named customers are confirmed versus only reported?
China position: Leading / Substitute in OSAT. Huatian is not the largest Chinese OSAT, but it is part of the core domestic packaging triad with JCET and Tongfu.
How material are FlipChip and Unisem to technology level, geographic access, and revenue mix?
Revenue: RMB 17.2B (FY2025).