HK Stock Market Move | TIANYU SEMI (02658) rose more than 5% in early trading, significantly benefiting from the increased demand for silicon carbide epitaxial wafers.

TIANYU SEMI (02658) rose more than 5% in early trading, rising 4.34% as of the time of publication to 49.5 Hong Kong dollars, with a turnover of 236.57 million Hong Kong dollars. On the news front, the application of AI agents is driving the rapid growth of computational power demand, also increasing the demand for electrical energy in data centers and other AI infrastructure. NVIDIA has launched a new generation of power supply system with an 800 VDC architecture specifically designed for future efficient power delivery megawatt-scale computing infrastructure, with significant advantages in system efficiency, heat loss, and reliability, and considering the use of new semiconductor materials such as gallium nitride and silicon carbide to process higher voltages and frequencies. Lian Research released a report stating that TIANYU SEMI benefits from the increasing use of silicon carbide (SiC) epitaxial wafers in high-power and high-voltage applications, with a forecasted compound annual growth rate of 40.5% for the global silicon carbide epitaxial semiconductor market from 2025 to 2029, with a total potential market size (TAM) estimated to reach 16 billion US dollars. The report points out that silicon carbide epitaxial wafers are one of the most value-added segments in the upstream industry; TIANYU SEMI is expected to become a major beneficiary as the largest supplier of silicon carbide epitaxial wafers in the Chinese market in 2024 and one of the first domestic companies with the capability to mass produce 8-inch silicon carbide epitaxial wafers.