HK Stock Market Move | SICC Co.,Ltd. (02631) rose more than 9% in mid-day trading, reaching a new high in the market, and established its leading position in the silicon carbide substrate industry with a dominant market share.

SICC Co., Ltd. (02631) rose by more than 9% during trading, reaching a high of 97 Hong Kong dollars, setting a new record high for the company's IPO. As of the deadline, it had risen by 6.04%, trading at 93.9 Hong Kong dollars, with a turnover of 5.07 billion Hong Kong dollars. According to the data, in 2025, SICC Co., Ltd.'s market share of conductive silicon carbide substrates reached 27.6%, surpassing Wolfspeed to become the world's number one. Among them, the company's market share of 8-inch silicon carbide substrates is far ahead with a market share of 51.3%. Huayuan Securities believes that considering the company's ability to scale production of 8-inch SiC substrates, it is expected to benefit from the recovery of the SiC substrate industry and see an increase in demand. Guotou Securities previously pointed out that advanced packaging technologies such as CoWoS have become an important path for GPU+HBM high-bandwidth interconnection. However, higher TDP and larger interconnection spans highlight issues such as hot spots, CTE mismatch, and reliability. The "high thermal conductivity + high rigidity + high temperature resistance" characteristics of SiC provide significant advantages in high-power density packaging scenarios. In addition, SiC + photonics is expected to become the mainstream solution for the next generation of smart glasses optical systems.