Ferrotec's board resolved on 20 October 2026 to lift its stake in AMTD, a Chinese maker of aluminium showerheads for semiconductor manufacturing equipment, and consolidate it. AMTD is now an equity-method affiliate.
The terms
Ferrotec's wholly owned Chinese subsidiary, Hangzhou Dahe Thermo-Magnetics (FTH), will buy the 46.7% stake held by Hangzhou Bori Technology for 150mn yuan (about ¥3.6bn) in cash. Ferrotec's voting stake in AMTD would rise from 20.3% to 67.6%, according to the notice. The seller's holding is listed at 47.3% elsewhere in the same notice, so the percentages do not reconcile exactly.
AMTD's capital of 300mn yuan (about ¥7.1bn) exceeds 10% of Ferrotec's capital, so it becomes a specified subsidiary.
Why Bori is selling
Bori started AMTD's showerhead business, but it mainly sells clinical laboratory analysis instruments and diagnostic reagents, and semiconductors are not its core. Ferrotec says adding AMTD's products to its own range should raise revenue from chip-equipment makers. The notice lists Ferrotec's president as legal representative of both AMTD and Bori, and records personal ties between Ferrotec and both companies.
A business still losing money
AMTD was founded in June 2024. For the year to March 2026 it reported sales of ¥478.9mn, an operating loss of ¥352.1mn, an ordinary loss of ¥335.1mn and a net loss of ¥440.9mn. Net assets were ¥5.76bn and total assets ¥6.85bn.
AMTD's shareholder meeting is scheduled for 30 October and the share transfer for 30 November, so the deal is not yet complete. Ferrotec expects a minor effect on its current-year results.