New stock news | Huntian Tiance once again submitted documents to the Hong Kong Stock Exchange to become the world's first manufacturer to achieve large-scale external supply of 8-inch silicon carbide epitaxial chips.

According to the disclosure of the Hong Kong Stock Exchange on October 14th, Hantian Tiancheng Electronic Technology (Xiamen) Co., Ltd. (hereinafter referred to as Hantian Tiancheng) has once again submitted an application for listing to the Hong Kong Stock Exchange, with CICC as the sole sponsor. The company had previously submitted an application on April 8th. The prospectus mentions that Hantian Tiancheng is the world's first manufacturer to achieve large-scale supply of 8-inch silicon carbide epitaxial wafers, as well as the first manufacturer in China to achieve mass production and supply of 3-inch, 4-inch, 6-inch, and 8-inch silicon carbide epitaxial wafers. According to the prospectus, Hantian Tiancheng is a leader in the global silicon carbide (SiC) epitaxial industry. The company is mainly engaged in the research, production, and sale of silicon carbide epitaxial wafers. According to a report by Frost & Sullivan, since 2023, in terms of annual sales volume, Hantian Tiancheng is the world's largest supplier of silicon carbide epitaxy, with a market share exceeding 30% in 2024. Hantian Tiancheng led the drafting and formulation of the world's first and currently only industry standard for silicon carbide epitaxial international semiconductor equipment and materials industry set by the SEMI. By 2024, Hantian Tiancheng has cumulatively sold over 164,000 pieces of silicon carbide epitaxial wafers through sales and foundry models, and during the historical performance period, the company has delivered a total of more than 500,000 pieces of silicon carbide epitaxial wafers. Hantian Tiancheng has a wide and loyal customer base. During the historical performance period, the company had 123 customers. According to a report by Frost & Sullivan, four of the world's top five silicon carbide power device giants and seven of the world's top ten power device giants are customers of Hantian Tiancheng. Power devices manufactured using silicon carbide epitaxial wafers exhibit stable performance in high temperature and high power applications. Hantian Tiancheng's customers use its silicon carbide epitaxial wafers to manufacture products (typically power devices) suitable for a wide range of downstream industrial applications, such as electric vehicles, charging infrastructure, renewable energy, energy storage systems, as well as emerging applications such as home appliances, AI computing power and data centers, smart grids, and eVTOL. The prospectus mentions that Dr. Zhao Jianhui, the founder of Hantian Tiancheng, is a top scientist in the silicon carbide industry, with a focus on silicon carbide technology research and development for over 35 years. He is the first researcher in the world to be selected as an IEEE Fellow for his significant contributions to silicon carbide technology research and industrial application. In terms of market opportunities, according to a report by Frost & Sullivan, in terms of public market revenue, five major silicon carbide epitaxial foundries accounted for 93.4% of the global market share in 2024, significantly surpassing the concentration in the substrate and power device fields, where the market share of the top five players in the latter two fields is around 80%. In this context, the silicon carbide epitaxial foundry market is poised for significant growth, with an increasing number of power device giants preferring to collaborate with third-party silicon carbide epitaxial foundries rather than producing in-house, a trend that has become increasingly evident since 2021. In terms of finances, for the fiscal years 2022, 2023, 2024, and the five months ended May 31, 2025, the revenue of Hantian Tiancheng was approximately RMB 441 million, RMB 1.143 billion, RMB 974 million, and RMB 266 million respectively; during the same period, the profits for the year were approximately RMB 143 million, RMB 122 million, RMB 166 million, and RMB 14 million respectively. According to the risk factors outlined by Hantian Tiancheng in the prospectus, fluctuations in raw material prices or supply shortages may disrupt the company's supply chain, increase production costs, delay delivery of products to customers, and affect market prices, which in turn will further impact the business, financial position, and operating performance.