Core Viewpoint - Tianyue Advanced (02631) experienced a significant stock price increase, attributed to strong performance in the AI sector following Nvidia's impressive earnings report, indicating ongoing demand for advanced semiconductor materials [1] Company Summary - Tianyue Advanced's stock rose over 8% during trading, closing up 5.79% at HKD 53, with a trading volume of HKD 151 million [1] - The company has successfully developed a full range of 12-inch silicon carbide (SiC) substrates, marking a significant advancement in the SiC substrate industry [1] - Tianyue Advanced has established a comprehensive product matrix for 12-inch SiC substrates, including conductive, semi-insulating, and P-type substrates, and is actively engaging with downstream customers [1] Industry Summary - Nvidia's recent earnings report highlighted the continued strength of the AI boom, which is driving demand for advanced semiconductor technologies [1] - The transition to 12-inch SiC substrates is crucial for addressing thermal management issues in AI computing power chips, with projections indicating a need for over 2.3 million 12-inch SiC substrates by 2030 [1] - The potential shift from Interposer to SiC in CoWoS packaging could lead to a compound annual growth rate of 35% over the next 28 years, significantly exceeding current production capacities [1]

Core Viewpoint - The report highlights the changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies, which may signal investment trends and market sentiment. Group 1: Companies with Increased Holdings - Shandong Molong (00568) saw the largest increase in holdings, up by 3.46% to a total holding of 60.02% [1][2] - Juxing Legend (06683) experienced a 0.83% increase, bringing its holding to 13.74% [2] - GCL-Poly Energy (03800) had a 0.75% increase, resulting in a holding of 38.78% [2] - In the last five trading days, Haotian International Investment (01341) had the highest increase of 10.00%, reaching 67.57% [3] - Anjuke Food (02648) increased by 3.02% to 35.68% [3] - Tianyue Advanced (02631) rose by 2.52%, with a holding of 23.00% [3] Group 2: Companies with Decreased Holdings - Longpan Technology (02465) experienced the largest decrease, down by 1.62% to 39.54% [1][2] - Haotian International Investment (01341) also saw a decrease of 1.38%, now holding 67.57% [2] - Nanjing Panda Electronics (00553) decreased by 0.83%, resulting in a holding of 41.80% [2] - In the last five trading days, Zhongze Feng (01282) had the largest decrease of 7.47%, with a holding of 8.57% [3] - Longpan Technology (02465) again showed a significant decrease of 7.41% [3] - Chongqing Steel (01053) decreased by 2.85%, now at 26.13% [3] Group 3: Notable Trends - The report indicates a trend of increasing foreign investment in certain companies, particularly in the technology and food sectors, while others are experiencing a pullback [1][2][3] - The data suggests that investors are actively reallocating their portfolios based on recent performance and market conditions [1][2][3]

Core Viewpoint - Tianyue Advanced (02631.HK) experienced a significant increase in stock price, rising over 5% in early trading, indicating positive market sentiment towards the company [1] Group 1 - The stock price of Tianyue Advanced rose by 5.33%, reaching 49 HKD [1] - The trading volume amounted to 64.21 million HKD [1]

Core Viewpoint - Tianyue Advanced (02631) has seen a significant stock price increase, attributed to developments in the silicon carbide (SiC) substrate market and its strategic position in the supply chain for advanced GPU packaging [1] Group 1: Company Performance - Tianyue Advanced's stock rose over 6% in early trading, currently up 5.33% at HKD 49, with a trading volume of HKD 64.21 million [1] Group 2: Industry Developments - NVIDIA plans to adopt 12-inch silicon carbide substrates in the advanced packaging of its next-generation GPU chips, with implementation expected by 2027 [1] - The penetration rate of 800V high-voltage platform models in the domestic new energy vehicle sector has surged to 42% within six months, driven by the launch of models like Xiaomi YU7 and BYD's 1000V architecture [1] - Demand for automotive-grade SiC is expected to increase significantly, with projections indicating that SiC usage in domestic new energy vehicles will reach 8 million pieces by 2025 [1] Group 3: Market Potential - Huaxi Securities suggests that if CoWoS replaces Interposer with SiC, and considering a 35% compound annual growth rate (CAGR) over 28 years with a 70% replacement rate for SiC, over 2.3 million 12-inch SiC substrates will be needed by 2030, equivalent to approximately 9.2 million 6-inch substrates, which far exceeds current production capacity [1] - Mainland China's SiC industry is positioned to benefit significantly due to its advantages in investment scale, production costs, and downstream support [1] - Tianyue Advanced is recognized as a global leader in silicon carbide substrates, having successfully developed 12-inch semi-insulating/conductive substrates and entered NVIDIA's packaging supply chain [1]

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: 2025年10月31日 狀態: 重新提交 | 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 | | 於香港聯交所上市 (註1) | | 否 | | ...

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: 2025年10月31日 狀態: 新提交 公司名稱: 山東天岳先進科技股份有限公司 致：香港交易及結算所有限公司 本公司乃於中華人民共和國註冊成立的股份有限公司。 呈交日期: 2025年11月4日 第 1 頁 共 11 頁 v 1.1.1 備註： 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 | | | 54,9 ...

Core Points - Tianyue Advanced (02631) announced the resignation of executive director Wang Jun Guo due to adjustments in the company's governance structure [1] - Wang Jun Guo was elected as the employee representative director at the employee representative meeting held on October 30, 2025, with a term starting from the same date until the end of the second board's term [1] Summary by Categories Company Governance - Wang Jun Guo submitted a written resignation report to the board of directors, effective immediately upon receipt [1] - The company held an employee representative meeting on October 30, 2025, where Wang Jun Guo was elected as the employee representative director [1] Board Composition - The election of Wang Jun Guo as the employee representative director is part of the company's governance adjustments [1] - His term as employee representative director will last until the end of the second board's term [1]

Core Viewpoint - Tianyue Advanced (02631.HK) announced the resignation of executive director Wang Junguo due to adjustments in the company's governance structure, effective immediately upon the submission of his resignation report [1] Group 1 - The board of directors received Wang Junguo's written resignation report on October 30, 2025 [1] - Wang Junguo was elected as a representative director of the second board of directors during the employee representative assembly held on the same day, with his term starting from October 30, 2025, until the end of the second board's term [1] - The election of employee representative directors is effective upon approval by the employee representative assembly and does not require shareholder approval [1]

董事名單及其角色與職能 山東天岳先進科技股份有限公司（「本公司」）的董事（「董事」）會（「董事會」）成 員載列如下： 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） 邱宇峰先生 方偉先生 獨立非執行董事 李洪輝先生 劉華女士 黎國鴻先生 董事會已成立四個委員會，並制定有關職權範圍。該等委員會的成員資料載列 如下： 香港，2025年10月31日 執行董事 非執行董事 宗艷民先生 （主席） 高超先生 李婉越女士 王俊國先生 （職工代表董事） | 董事會委員會 | | 薪酬與考核 | | | | --- | --- | --- | --- | --- | | 董事 | 審計委員會 | 委員會 | 提名委員會 | 戰略委員會 | | 宗艷民先生 | | 成員 | 成員 | 主席 | | 高超先生 | | | | | | 王俊國先生 | | | | | | 邱宇峰先生 | | | | 成員 | | 李婉越女士 | | | | | | 方偉先生 | | | | | | 李洪輝先生 | 主席 | | | 成員 | | 劉華女士 | 成員 | 成 ...

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之內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部分內容而產生或因 倚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） (I)執行董事辭任； 及 (II)選舉職工代表董事 (I) 執行董事辭任 於2025年10月30日，本公司董事（「董事」）會（「董事會」）收到本公司執行董 事王俊國先生（「王先生」）的書面辭職報告。因公司治理架構調整，王先生 擬辭去本公司第二屆董事會執行董事職務。王先生的辭任自其辭任報告 送達董事會之日起生效。王先生已確認，彼與董事會並無意見分歧，且就 其所深知，並無任何有關其辭任的事宜須提請本公司股東（「股東」）垂注。 本公司將與王先生訂立董事服務合約。王先生不會因擔任職工代表董事（執行 董事）而向本公司收取任何董事袍金，惟彼於本公司擔任其他職務的相應薪酬 除外。 – 2 – 除上文所披露者外，概無有關王先生委任的資料須根據香港聯合交易所有限 公司證券上市規則第13.51(2) ...