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 | A 股证券代码：688234 | 证券简称：天岳先进 公告编号：2025-076 | | --- | --- | | 港股证券代码：02631 | 证券简称：天岳先进 | 山东天岳先进科技股份有限公司 关于持股 5%以上股东减持股份结果公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律 责任。 重要内容提示： 大股东 ...

Core Viewpoint - Shandong Tianyue Advanced Technology Co., Ltd. announced that its major shareholder, Guocai Equity Investment Fund (Jinan) Partnership, has completed its share reduction plan, selling a total of 9.549 million shares for approximately 747 million yuan [1][2]. Summary by Sections Share Reduction Plan Implementation - Guocai Fund disclosed its share reduction plan on August 26, 2025, intending to reduce up to 9.549 million shares, representing 2.00% of the company's total share capital [1]. - The reduction was executed through both centralized bidding and block trading, with each method accounting for 4.7746 million shares [1]. - The reduction period was set from September 17 to November 20, 2025, and was completed as planned [1]. - The share reduction price ranged from 69.14 yuan to 90.47 yuan per share, totaling approximately 747 million yuan [1]. Changes in Shareholding - Prior to the reduction, Guocai Fund held 38.674 million shares, which was 8.10% of the total share capital [2]. - After the reduction, its holdings decreased to 29.124 million shares, representing 6.01% of the total share capital, maintaining its status as a major shareholder [2]. - The shareholding changes were executed in compliance with relevant laws and regulations, with no significant impact on the company's governance or ongoing operations [2]. Company Response - The board of Tianyue Advanced will continue to monitor changes in shareholder holdings and fulfill its information disclosure obligations as required [3].

Core Viewpoint - Tianyue Advanced (02631) saw a significant stock increase, attributed to Nvidia's strong earnings report and the ongoing AI boom, highlighting the demand for advanced silicon carbide substrates in the semiconductor industry [1] Company Summary - Tianyue Advanced's stock rose over 8% during trading, currently 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 substrates, marking a significant advancement in the silicon carbide semiconductor materials industry [1] - Tianyue Advanced has released a complete product matrix for 12-inch silicon carbide substrates, including conductive, semi-insulating, and P-type substrates, and is actively engaging with downstream customers [1] Industry Summary - Nvidia's recent earnings report indicates a robust AI market, with plans to adopt 12-inch silicon carbide substrates in the next generation of GPU chips by 2027 [1] - The transition to silicon carbide substrates is crucial for addressing thermal management issues in AI computing power chips, with projections suggesting a need for over 2.3 million 12-inch SiC substrates by 2030, significantly exceeding current supply capacity [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, emphasizing the growing importance of silicon carbide in the semiconductor landscape [1]

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]