HK Stock Market Move | TIANYU SEMI (02658) surged over 8%, plans to repurchase no more than 10% of H shares; overseas business saw explosive growth in the first half of the year.

TIANYU SEMI (02658) rose over 8%, up 8.05% as of press time, at HK$35.44, with a turnover of HK$2.2818 million. On the news front, on the evening of September 14, TIANYU SEMI announced that the board of directors has approved an H-share repurchase plan. The number of H shares to be repurchased under the general mandate granted by shareholders will not exceed 10% of the issued H shares as of the date the repurchase mandate was granted, namely approximately 5.899 million H shares. The plan reflects the board's confidence in the company's future development, aims to safeguard the company's value and shareholders' rights and interests, and enhance investor confidence. It is understood that TIANYU SEMI focuses on self-manufactured silicon carbide epitaxial wafers and has achieved mass production of 4-inch, 6-inch, and 8-inch epitaxial wafers. In the first half of this year, TIANYU SEMI achieved breakthrough results in overseas market expansion. The company's revenue generated from countries and regions outside mainland China reached RMB 62.5 million, representing explosive year-on-year growth of 4,906%, mainly driven by the vigorous development of the global AI computing power and data center markets.