NAURA Technology Group has agreed to buy Beijing Nuohe Jianwei Equipment, a developer of hybrid bonding equipment, for RMB404.56m (about US$60m) in cash, the Shenzhen-listed company said in a filing late on 15 October.
Why NAURA Technology Group is buying Beijing Nuohe Jianwei Equipment Co.
NAURA said hybrid bonding is a key process for ultra-high-density interconnects and that hybrid bonding tools are core equipment for advanced packaging, widely used in SoC, HBM and chiplet 3D integration. Nuohe Jianwei has developed technology in optical alignment, compensation algorithms, motion and vibration control and bonding-head design, has achieved nanometre-level alignment in shipped tools and has received repeat orders, according to the filing.
Deal terms and financing
NAURA's subsidiary Beijing NAURA Microelectronics Equipment will pay cash for 100% of the target. The price equals an income-approach valuation by Vocation (Beijing) International Assets Appraisal as of 31 January 2026; an asset-based approach gave RMB323.3m. Nuohe Jianwei, founded in April 2025, acquired its hybrid bonding assets, business and R&D team through an asset purchase. It made a net loss of RMB29.9m in 2025 and RMB9.4m in the first half of 2026, with net assets of RMB310.7m at 30 June.
Regulatory approvals and timing
The seller, the Beijing Integrated Circuit Equipment Industry Investment and M&A Fund II, counts as a related party because NAURA chairman Zhao Jinrong sits on its investment decision committee. The board approved the deal on 15 October with Zhao abstaining; it is not a major asset restructuring and needs no shareholder vote.
Market context
Piotech, another Chinese chip-equipment maker, published final terms for its own bonding-equipment acquisition the same evening, as domestic toolmakers build out advanced-packaging capabilities, Chinese financial media noted. NAURA reported first-half 2026 revenue of RMB20.16bn, up 24.9%.
