高盛认为，天岳先进在半绝缘碳化硅衬底领域处于全球领先地位，率先推出12英寸碳化硅衬底，早期布 局液相外延(LPG)技术并结合气相法，自主设计晶体生长炉，持续提升碳化硅晶锭厚度；产品质量优势 显著，客户使用其衬底生产碳化硅器件时良率更高，支撑产品溢价；通过快速降本抵消衬底价格下行影 响，主动下调8英寸碳化硅衬底价格以抢占市场份额，保障盈利能力。 天岳先进(02631)午前涨近6%，截至发稿，涨5%，报60.9港元，成交额5313.4万港元。 高盛发布研报称，AI数据中心对能效的要求持续提升，成为碳化硅(SiC)应用的新核心驱动力，其可用 于800V高压直流(HVDC)、电源供应单元(PSU)、基带处理单元(BBU)及先进封装领域，兼具更高能量转 换效率、更好散热、更高功率密度及更小尺寸优势，适配GPU算力提升需求；此外，AI眼镜领域的性 能升级与减重需求、电动汽车快充场景的存量需求，共同构成三大增长引擎。 ...

高盛发布研报称，AI数据中心对能效的要求持续提升，成为碳化硅(SiC)应用的新核心驱动力，其可用 于800V高压直流(HVDC)、电源供应单元(PSU)、基带处理单元(BBU)及先进封装领域，兼具更高能量转 换效率、更好散热、更高功率密度及更小尺寸优势，适配GPU算力提升需求；此外，AI眼镜领域的性 能升级与减重需求、电动汽车快充场景的存量需求，共同构成三大增长引擎。 高盛认为，天岳先进在半绝缘碳化硅衬底领域处于全球领先地位，率先推出12英寸碳化硅衬底，早期布 局液相外延(LPG)技术并结合气相法，自主设计晶体生长炉，持续提升碳化硅晶锭厚度；产品质量优势 显著，客户使用其衬底生产碳化硅器件时良率更高，支撑产品溢价；通过快速降本抵消衬底价格下行影 响，主动下调8英寸碳化硅衬底价格以抢占市场份额，保障盈利能力。 智通财经APP获悉，天岳先进(02631)午前涨近6%，截至发稿，涨5%，报60.9港元，成交额5313.4万港 元。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不會對本公告的全部或任何部分內容所產生或 因依賴該等內容而引致的任何損失承擔任何責任。 山東天岳先進科技股份有限公司 SICC CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （股份代號：2631） 2025年年度業績預告的補充公告 茲提述山東天岳先進科技股份有限公司（「本公司」或「公司」）日期為2026年1月 26日內容有關本公司截至2025年12月31日止年度的業績預告（「該公告」）。除文 義另有界定外，本公告所用詞彙具備該公告所界定的相同涵義。 本公司董事（「董事」）會（「董事會」）謹此澄清「一、本期業績預告情況 —（二）業 績預告情況」一節第2及第3段應如下所示： 3.預計2025年年度歸屬於母公司所有者的扣除非經常性損益後的淨虧損介乎人 民幣27,500.00萬元至人民幣23,500.00萬元，與上年同期（法定披露數據）相比， 預計將減少人民幣43,109.30萬元至人民幣39,109.30萬元。」 – 1 – 本公告為該公告的補充，應與該公告一併閱讀。除上文所作 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 山東天岳先進科技股份有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02631 | 說明 | H 股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 54,907,500 | RMB | | 1 RMB | | 54,907,500 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 54,907,500 | RMB | | 1 RMB | | 54,907,500 | | 2. 股份分類 | 普通股 | 股份類別 | A | ...

天岳先进(02631)涨超7%，截至发稿，涨7.34%，报58.5港元，成交额6901.21万港元。 消息面上，据央视财经报道，记者在我国广东、江苏等地调研发现，大量变压器工厂已经处于满产的状 态，其中部分面向数据中心的业务订单都排到了2027年。为应对新能源高比例接入的挑战，在河北，全 碳化硅电力电子变压器技术正在进行探索应用，采用高压碳化硅器件，减少电能损耗，提升新能源利用 效率。国盛证券（002670）近期研报指出，SiC作为SST关键电子电力器件，SST有望为其贡献新增长动 力。 浙商证券（601878）此前指出，天岳先进积极拓展碳化硅在新兴领域的应用，打开长期增长空间。AR 眼镜：碳化硅材料因其高折射率和轻量化优势，有望成为下一代AR眼镜光波导镜片的理想材料，实现 更优显示效果。AIDC：随着AI算力需求爆发，数据中心能耗问题凸显。碳化硅功率器件可显著提升服 务器电源效率，在英伟达等巨头推动数据中心向800V高压架构演进的趋势下，碳化硅有望成为关键材 料。 ...

【重大事项】 东鹏饮料(09980)1月26日至1月29日招股 预计2月3日上市 紫金矿业(02899)：紫金黄金国际拟约55亿加元收购Allied Gold Corporation 100%股权 亚信科技(01675)与ABB机器人共建"具身智能实验室" 东阳光药(06887)与深圳晶泰订立战略合作协议，拟成立合资公司，共建AI驱动药物研发平台 豪威集团(00501)拟斥资不超过5000万美元认购爱芯元智首次公开发行股份 奇点国峰(01280)与沐曦股份达成GPU分销合作协议进军国产AI算力市场 国锐生活(00108)与明智医疗订立战略合作备忘录 共同推动"医疗+科技+场景"的深度融合与产业升级 【财报数据】 均胜电子(00699)发盈喜，预期年度归母净利润约13.5亿元 同比增长约40.56% 国泰君安国际(01788)发盈喜 预计年度净利润为12.80亿至13.80亿港元之间 同比大幅飙升265%至293% 天岳先进(02631)预期年度营业收入14.5亿元至15亿元 中国电力(02380)2025年合并总售电量为约1.26亿兆瓦时 中铝国际(02068)2025年新签合同总额为468.36亿元 同比增 ...

Core Viewpoint - Tianyue Advanced (02631) expects a significant decline in both revenue and net profit for the fiscal year 2025 compared to the previous year, primarily due to market price decreases and strategic adjustments in market share expansion [1][2]. Group 1: Revenue and Profit Forecast - The company anticipates annual revenue for 2025 to be between 1.45 billion to 1.5 billion RMB, representing a decrease of 318 million to 268 million RMB, or a year-on-year decline of 17.99% to 15.17% [1]. - The expected net profit attributable to the parent company is projected to be a loss of 225 million to 185 million RMB, a reduction of 404 million to 364 million RMB compared to the previous year, indicating a year-on-year decrease of 225.68% to 203.34% [1]. Group 2: Factors Influencing Financial Performance - The increase in sales volume of substrate products was offset by a decline in overall revenue due to falling market prices, influenced by domestic market competition and strategic adjustments aimed at increasing market share [1]. - The company experienced increased sales expenses while actively exploring new applications for large-sized products, alongside a rise in R&D expenses to maintain technological leadership in the industry [1]. - Additional factors contributing to the decline in net profit include increased tax expenses and penalties, reduced gross profit due to lower product prices, foreign exchange losses from RMB fluctuations, increased asset impairment provisions, and higher costs associated with overseas listings [2].

Core Viewpoint - Tianyue Advanced (02631) expects a significant decline in both revenue and net profit for the fiscal year 2025 compared to the previous year, primarily due to market price decreases and strategic adjustments in market share expansion [1][2] Group 1: Revenue and Profit Forecast - The company anticipates annual revenue for 2025 to be between 1.45 billion to 1.5 billion RMB, representing a decrease of 318 million to 268 million RMB, or a year-on-year decline of 17.99% to 15.17% [1] - The expected net profit attributable to the parent company is projected to be a loss of 225 million to 185 million RMB, a reduction of 404 million to 364 million RMB compared to the previous year, equating to a year-on-year decrease of 225.68% to 203.34% [1] Group 2: Factors Influencing Financial Performance - Despite an increase in sales volume of substrate products, overall revenue has declined due to falling market prices, influenced by domestic market competition and the company's strategic decision to expand market share [1] - Increased sales expenses are attributed to the company's efforts to explore new applications for large-sized products, while R&D expenses have risen to maintain technological leadership in the industry [1] - Additional factors contributing to the decline in net profit include increased tax expenses and penalties, reduced gross profit due to lower product prices, foreign exchange losses from RMB fluctuations, increased asset impairment provisions, and higher costs associated with overseas listings [2]

Core Viewpoint - Tianyue Advanced Technology Co., Ltd. is expected to experience a significant decline in both revenue and net profit for the fiscal year 2025 compared to the previous year, indicating potential challenges in the company's financial performance and market position [1][2]. Group 1: Financial Projections - The company anticipates a revenue range of 1.45 billion to 1.5 billion RMB for 2025, representing a decrease of 318.14 million to 268.14 million RMB, or a year-on-year decline of 17.99% to 15.17% [1]. - The projected net profit attributable to the parent company is expected to be a loss between 225 million to 185 million RMB, reflecting a decrease of 404.03 million to 364.03 million RMB, which translates to a year-on-year decline of 225.68% to 203.34% [1]. - The net profit attributable to the parent company after excluding non-recurring gains and losses is projected to be a loss of 275 million to 235 million RMB, indicating a reduction of 431.09 million to 391.09 million RMB, or a year-on-year decrease of 276.18% to 250.55% [1]. Group 2: Market and Operational Factors - The company experienced an increase in substrate product sales; however, overall revenue declined due to falling market prices influenced by domestic competition and strategic adjustments aimed at increasing market share [2]. - Increased sales expenses were incurred as the company actively sought to expand the application of large-sized products in new markets, while R&D expenses rose due to ongoing investments in maintaining technological leadership [2]. - Factors contributing to the decline in net profit include increased tax expenses and penalties, reduced gross profit due to lower product prices, foreign exchange losses from RMB fluctuations, increased asset impairment provisions, and additional costs associated with overseas listings [2].

（於中華人民共和國註冊成立的股份有限公司） 山東天岳先進科技股份有限公司 SICC CO., LTD. （股份代號：2631） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不會對本公告的全部或任何部分內容所產生或 因依賴該等內容而引致的任何損失承擔任何責任。 2025年年度業績預告 本公告乃根據山東天岳先進科技股份有限公司（「本公司」或「公司」）根據香港 聯合交易所有限公司證券上市規則（「上市規則」）第13.09條及13.10B條及香港法 例第571章證券及期貨條例第XIVA部項下之內幕消息條文（定義見上市規則）而 作出。 一、本期業績預告情況 （一）業績預告期間 2025年1月1日至2025年12月31日 （二）業績預告情況： 經財務部門初步測算： 1、 營業收入：176,814.10萬元。 2、 利潤總額：15,926.41萬元。 3、 歸屬於母公司所有者的淨利潤：17,902.51萬元。 4、 歸屬於母公司所有者的扣除非經常性損益的淨利潤：15,609.30萬元。 5、 每股收益：0.42元。 報告期內，公司襯底產品銷量增加但 ...