HK Stock Market Move | TIANYU SEMI(02658) rose more than 7%, the company focuses on silicon carbide epitaxial wafers, and the opening of demand for AI power creates growth opportunities.

TIANYU SEMI (02658) rose more than 7% during the trading day, and as of the time of writing, it was up 3.8% to 46.44 Hong Kong dollars. Public information shows that TIANYU SEMI is a manufacturer specializing in the production of self-made silicon carbide epitaxial wafers (key raw materials for power semiconductor devices), and has achieved mass production of 4-inch, 6-inch, and 8-inch epitaxial wafers. According to data from Frost & Sullivan for 2024, the company is the largest self-made silicon carbide epitaxial wafer manufacturer in China and the third largest globally, with domestic revenue and sales volume market shares of 30.6% and 32.5% respectively, and global market shares of 6.7% and 7.8%, possessing strong competitive barriers in the segmented field. In February of this year, the company announced the signing of a strategic cooperation agreement with South Korean company EYEQ Lab Inc., focusing on the supply and application of silicon carbide epitaxial wafers. It is worth noting that silicon carbide, as a third-generation semiconductor material, is widely used in areas such as new energy vehicles, power supply, and rail transportation due to its high temperature resistance, high pressure resistance, and high frequency characteristics, and is the core raw material for power semiconductor devices. Huaxi previously pointed out that with the increase in power consumption in AI data centers and the introduction of NVIDIA's 800V architecture, AI power has become a key component, and SiC as a power device is expected to benefit significantly.