HK Stock Market Move | TIANYU SEMI (02658) rises nearly 7% to reach a new high since listing, driven by increased demand for silicon carbide epitaxial wafers.

TIANYU SEMI (02658) rose nearly 7%, reaching a high of 58.7 Hong Kong dollars, setting a new record high for the company's shares. As of the time of writing, it had risen by 6.73% to 58.7 Hong Kong dollars, with a trading volume of 11.87 million Hong Kong dollars. In terms of news, a report released by Lyon stated that TIANYU SEMI is benefiting from the increasing use of silicon carbide (SiC) epitaxial wafers in high-power and high-voltage applications. It is predicted that the global SiC epitaxial power semiconductor market will have a compound annual growth rate of 40.5% from 2025 to 2029, with a total potential market size (TAM) estimated at 16 billion US dollars. The report mentioned that SiC epitaxial wafers are one of the most value-added segments in the upstream industry, and TIANYU SEMI is expected to be a major beneficiary as the largest supplier of SiC epitaxial wafers in the Chinese market by 2024, and one of the first domestic companies with the capacity for mass production of 8-inch SiC epitaxial wafers. It is worth mentioning that TIANYU SEMI recently announced the signing of a strategic cooperation agreement with EYEQ Lab Inc., a leading third-generation semiconductor company in South Korea. It is reported that TIANYU SEMI will provide EYEQ Lab with a full range of high-quality SiC epitaxial wafers, covering sizes from 6 to 8 inches and voltage ranges from 650V to 20,000V, suitable for various types of power electronic devices, and meeting EYEQ Lab's product development and mass production needs in different application scenarios.