Piotech was founded by a group of returning international technology veterans from the United States along with the Chinese Academy of Sciences.

[4] 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.

[6] 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.

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

[8] In December 2024, Piotech was targeted in a new round of US export controls and added to the United States Department of Commerce's Entity List.