智通财经APP讯，天岳先进(02631)发布公告，2025年10月28日至2025年12月16日，哈勃投资通过集中竞 价交易方式减持303.16万股公司股份。本次权益变动前，哈勃投资持有公司2726.25万股，占公司总股本 的6.34%(总股本以发行H股前股本数量计算)。本次权益变动后，哈勃投资持有公司2423.09万股，占公 司总股本的5.00%(总股本以发行H股后股本数量计算)，权益变动触及5%刻度。 ...

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） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 茲載列山東天岳先進科技股份有限公司於上海證券交易所網站( www.sse.com.cn ) 所刊發的公告，僅供參考。 承董事會命 山東天岳先進科技股份有限公司 董事長、執行董事兼總經理 山东天岳先进科技股份有限公司 （山东省济南市槐荫区天岳南路 99 号） （证券代码：688234 证券简称：天岳先进） （证券代码：02631 证券简称：天岳先进） 简式权益变动报告书 二〇二五年十二月 宗艷民先生 香港，2025年12月17日 於本公告日期，董事會成員包括(i)執行董事宗艷民先生、高超先生及王俊國先生；(ii)非執行 董事邱宇峰先生、李婉越女士及方偉先生；及(iii)獨立非執行董事李洪輝先生、劉 ...

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） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 茲載列山東天岳先進科技股份有限公司於上海證券交易所網站( www.sse.com.cn ) 所刊發的公告，僅供參考。 承董事會命 山東天岳先進科技股份有限公司 董事長、執行董事兼總經理 宗艷民先生 1、本次权益变动属于山东天岳先进科技股份有限公司（以下简称"公司"） 股东哈勃科技创业投资有限公司（以下简称"哈勃投资"）履行减持股份计划及 公司发行境外上市外资股（H 股）被动稀释所致，不触及要约收购。 香港，2025年12月17日 於本公告日期，董事會成員包括(i)執行董事宗艷民先生、高超先生及王俊國先生；(ii)非執行 董事邱宇峰先生、李婉越女士及方偉先生；及(iii)獨立非執行董事李洪輝先生、 ...

Group 1 - Tianyue Advanced (02631.HK) experienced a rise of over 7%, specifically 7.01%, reaching a price of 59.55 HKD [1] - The trading volume for Tianyue Advanced was reported at 188 million HKD [1]

Core Viewpoint - Tianyue Advanced (02631) has seen a stock price increase of over 7%, currently trading at 59.55 HKD with a transaction volume of 188 million HKD, highlighting strong market interest in the company [1] Company Summary - Tianyue Advanced is a leading enterprise in the silicon carbide (SiC) semiconductor materials industry, having achieved technological breakthroughs in the full series of 12-inch SiC substrates, marking the industry's transition to the 12-inch era [1] Industry Summary - Silicon carbide (SiC), as a third-generation wide bandgap semiconductor, is gaining traction across four major industries: renewable energy, AI, communications, and augmented reality (AR), due to its superior characteristics in breakdown electric field, bandgap width, thermal conductivity, electron saturation drift velocity, and refractive index [1] - According to Wukuang Securities, the demand side is experiencing a comprehensive explosion, leading to rapid industry expansion. By 2027, a tight balance between supply and demand for SiC substrates is expected, with potential supply shortages [1] - By 2030, the global demand for substrates is projected to reach 16.76 million pieces, with an estimated production capacity shortfall of about 12 million pieces compared to the supply in 2025. The three core growth points identified are AI intermediary layers, electric vehicles, and AR glasses, with expected demand shares of 37%, 26%, and 23% respectively by 2030 [1] - If SiC can be industrialized in the "substrate layer," "intermediate layer," and "heat sink" segments for advanced packaging thermal materials in AI chips, the global demand for SiC substrates could reach approximately 30 million pieces by 2030 [1]

Group 1 - Tianyue Advanced (02631) has seen a stock price increase of over 7%, currently trading at 59.55 HKD with a transaction volume of 1.88 billion HKD [1] - The company is a leader in the silicon carbide (SiC) semiconductor materials industry and has achieved technological breakthroughs in the full series of 12-inch SiC substrates, marking the entry of the SiC substrate industry into the 12-inch era [1] - According to Wenkang Securities, SiC, as a third-generation wide bandgap semiconductor, is penetrating four major industries: renewable energy, AI, communication, and AR, becoming a key support for technological upgrades and efficiency revolutions [1] Group 2 - The demand explosion is driving rapid industry expansion, with expectations of a balanced supply-demand situation for SiC substrates by 2027, and potential supply tightness [1] - By 2030, the global demand for substrates is projected to reach 16.76 million pieces, with an estimated production capacity shortfall of about 12 million pieces compared to the supply in 2025 [1] - The three core growth points identified are AI intermediary layers, electric vehicles, and AR glasses, with projected demand shares by 2030 of 37%, 26%, and 23% respectively [1] - If SiC can be industrialized in the "substrate layer," "intermediate layer," and "heat sink" for advanced packaging thermal materials in AI chips, the global demand for SiC substrates could reach approximately 30 million pieces by 2030 [1]

Core Insights - The article highlights the changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies. Group 1: Increased Holdings - Hongye Futures (03678) saw the largest increase in ownership percentage, rising by 2.45% to a total holding of 63.38% [1] - Jinli Permanent Magnet (06680) experienced a 1.84% increase, bringing its holding to 30.90% [1] - Tianyue Advanced (02631) had a 1.50% increase, resulting in a holding of 23.79% [1] - Other notable increases include Junsheng Electronics (00699) with +1.10% to 4.35% and Guofu Hydrogen Energy (02582) with +1.01% to 18.32% [1] Group 2: Decreased Holdings - China Merchants Energy (01138) had the largest decrease, with a drop of 2.02% to 62.68% [2] - ASM Pacific (00522) saw a decrease of 1.45%, resulting in a holding of 4.59% [2] - Weimeng Group (02013) decreased by 0.81%, now holding 26.24% [2] - Other significant decreases include Sanhua Intelligent Control (02050) with -0.69% and Junshi Biosciences (01877) with -0.57% [2] Group 3: Five-Day Changes - Over the last five trading days, Jihong Co., Ltd. (02603) had the highest increase in ownership, up by 20.61% to 53.18% [4] - Lion Holdings (02562) increased by 8.17% to 32.54% [4] - Yihua Tong (02402) saw a 2.85% increase, reaching 23.58% [4] - Conversely, China Merchants Energy (01138) experienced a decrease of 3.20% to 62.68% [4] Group 4: Twenty-Day Changes - In the last twenty days, Jihong Co., Ltd. (02603) again led with a 19.91% increase to 53.18% [5] - Lion Holdings (02562) increased by 13.77% to 32.54% [5] - Guofu Hydrogen Energy (02582) rose by 10.93% to 18.32% [5] - On the downside, China Merchants Energy (01138) saw a significant decrease of 6.35% to 62.68% [5]

Core Viewpoint - Tianyue Advanced (02631) has established business partnerships with over half of the top ten global power semiconductor manufacturers, focusing on high-quality silicon carbide substrates for power and RF devices used in electric vehicles, AI data centers, and photovoltaic systems [1] Group 1: Company Performance - Tianyue Advanced's stock rose over 6% in the afternoon session, currently up 5.09% at HKD 61.9, with a trading volume of HKD 215 million [1] Group 2: Industry Insights - Addressing the thermal management issues of CoWoS packaging is crucial for the development of AI computing chips [1] - If CoWoS replaces the interposer with SiC and follows a projected 35% compound annual growth rate over 28 years, it would require over 2.3 million 12-inch SiC substrates by 30 years, equivalent to approximately 9.2 million 6-inch substrates, significantly exceeding current production capacity [1]

Core Viewpoint - Tianyue Advanced (02631) has established business partnerships with over half of the top ten global power semiconductor manufacturers, focusing on high-quality silicon carbide substrates for power and RF devices used in electric vehicles, AI data centers, and photovoltaic systems [1] Group 1: Company Performance - Tianyue Advanced's stock rose over 6% in the afternoon session, currently trading at 61.9 HKD with a transaction volume of 215 million HKD [1] Group 2: Industry Insights - According to Huaxi Securities, addressing the thermal management issues of CoWoS packaging is crucial for the development of AI computing chips [1] - If CoWoS replaces the interposer with SiC and follows a projected 35% compound annual growth rate over 28 years, it will require over 2.3 million 12-inch SiC substrates by 2030, equivalent to approximately 9.2 million 6-inch substrates, significantly exceeding current production capacity [1]

Core Viewpoint - Tianyue Advanced (02631) has established business partnerships with over half of the top ten global power semiconductor manufacturers, focusing on high-quality silicon carbide substrates for power and RF devices used in electric vehicles, AI data centers, and photovoltaic systems [1] Group 1: Company Performance - Tianyue Advanced's stock rose over 6% in the afternoon, currently up 5.09% at HKD 61.9, with a trading volume of HKD 215 million [1] Group 2: Industry Insights - According to Huaxi Securities (002926), addressing the thermal management issues of CoWoS packaging is crucial for the development of AI computing chips [1] - If CoWoS replaces Interposer with SiC, and assuming a 35% compound annual growth rate (CAGR) over 28 years with a 70% replacement of SiC, it is projected that over 2.3 million 12-inch SiC substrates will be needed by 2030, equivalent to approximately 9.2 million 6-inch substrates, significantly exceeding current production capacity [1]