Core Viewpoint - Tianyu Semiconductor (02658) has seen a nearly 7% increase in stock price, reaching a new high of 58.7 HKD, driven by positive market forecasts for silicon carbide (SiC) epitaxial wafers and strategic partnerships [1] Company Summary - Tianyu Semiconductor's stock rose by 6.73% to 58.7 HKD, with a trading volume of 11.87 million HKD [1] - The company is positioned as the largest supplier of SiC epitaxial wafers in the Chinese market for 2024 and is among the first to achieve mass production of 8-inch SiC epitaxial wafers [1] Industry Summary - According to a report by Citi, the global market for SiC power semiconductors is expected to grow at a compound annual growth rate (CAGR) of 40.5% from 2025 to 2029, with a total addressable market (TAM) projected to reach 16 billion USD [1] - SiC epitaxial wafers are identified as one of the most value-added segments in the upstream supply chain [1] Strategic Partnership - Tianyu Semiconductor has signed a strategic cooperation agreement with EYEQ Lab Inc., a leading third-generation semiconductor company in South Korea [1] - The agreement includes the provision of a full range of high-quality SiC epitaxial wafer products, covering specifications from 6 to 8 inches and voltage ranges from 650V to 20,000V, catering to various power electronic devices [1]

值得一提的是，天域半导体近期宣布与韩国第三代半导体领军企业EYEQ Lab Inc.正式签署战略合作协 议。据悉，天域半导体此次将为EYEQ Lab提供全系列高质量SiC外延片产品，覆盖6至8英寸全规格，电 压范围涵盖650V至20,000V，可广泛适配单极型、双极型各类功率电子器件，能够充分满足EYEQ Lab 在不同应用场景下的产品研发与量产需求。 智通财经APP获悉，天域半导体(02658)涨近7%，高见58.7港元创上市新高。截至发稿，涨6.73%，报 58.7港元，成交额1187.11万港元。 消息面上，里昂发布研报称，天域半导体受惠于高功率及高电压应用场景对碳化硅(SiC)外延片的采用 增加，2025至2029年预测全球碳化硅外延片功率半导体市场年均复合增长率将达40.5%，总潜在市场规 模(TAM)预计达160亿美元。该行指，碳化硅外延片为上游最具增值潜力的环节之一；天域半导体为 2024年中国市场最大碳化硅外延片晶圆供应商，亦是国内首批具备量产8吋碳化硅外延片晶圆能力的企 业，因此有望成为主要受益者。 ...

Core Viewpoint - The report from Citi highlights that Tianyu Semiconductor (02658) is set to benefit from the increasing adoption of silicon carbide (SiC) epitaxial wafers in high-power and high-voltage applications, with a projected compound annual growth rate (CAGR) of 40.5% for the global SiC power semiconductor market from 2025 to 2029, reaching a total addressable market (TAM) of $16 billion [1] Group 1 - The global SiC power semiconductor market is expected to grow at a CAGR of 40.5% from 2025 to 2029, with a TAM of $16 billion [1] - Citi forecasts that Tianyu Semiconductor's revenue will increase to RMB 3.31 billion by 2027 [1] - The target price for Tianyu Semiconductor is set at HKD 70, based on a price-to-sales ratio of 7.5 times [1] Group 2 - SiC epitaxial wafers are identified as one of the most value-added segments in the upstream supply chain [1] - Tianyu Semiconductor is the largest supplier of SiC epitaxial wafers in the Chinese market for 2024 and is among the first companies capable of mass-producing 8-inch SiC epitaxial wafers [1] - The company is expected to be a major beneficiary of the growing demand for SiC technology [1]

Core Viewpoint - The report from Credit Lyonnais indicates that Tianyu Semiconductor (02658) will benefit from the increasing adoption of silicon carbide (SiC) epitaxial wafers in high-power and high-voltage applications, with a projected compound annual growth rate (CAGR) of 40.5% for the global SiC power semiconductor market from 2025 to 2029, reaching a total addressable market (TAM) of $16 billion [1] Group 1 - Credit Lyonnais forecasts that Tianyu Semiconductor's revenue will grow to 3.31 billion RMB by 2027 [1] - The target price is set at 70 HKD based on a price-to-sales ratio of 7.5 times [1] - The report assigns an "Outperform" rating for the stock [1] Group 2 - SiC epitaxial wafers are identified as one of the most value-added segments in the upstream supply chain [1] - Tianyu Semiconductor is projected to be the largest supplier of SiC epitaxial wafers in the Chinese market by 2024 and is among the first companies capable of mass-producing 8-inch SiC epitaxial wafers [1] - The company is expected to be a major beneficiary of the growing market demand [1]

Core Viewpoint - The Hong Kong stock market saw significant gains in chip stocks, with notable increases in share prices for several companies on February 12, indicating a positive trend in the semiconductor sector [1]. Group 1: Stock Performance - Tianshu Zhixin (09903) experienced a rise of 19.07%, reaching a latest price of 229.800 with a total market capitalization of 584.42 billion [2]. - Zhaoyi Innovation (03986) increased by 18.45%, with a latest price of 350.600 and a market cap of 2458.07 billion, marking a year-to-date increase of 116.42% [2]. - Biran Technology (06082) saw an 8.39% rise, with a latest price of 36.420 and a market cap of 888.23 billion, reflecting an 85.82% increase year-to-date [2]. - Lanke Technology (06809) rose by 7.18%, with a latest price of 185.100 and a market cap of 2244 billion, showing a year-to-date increase of 73.17% [2]. - Tianyu Semiconductor (02658) increased by 6.19%, with a latest price of 52.500 and a market cap of 206.47 billion, reflecting a year-to-date increase of 9.38% [2].

Core Viewpoint - Tianyu Semiconductor (02658) has signed a strategic cooperation agreement with EYEQ Lab Inc., a leading third-generation semiconductor company in South Korea, to supply high-quality SiC epitaxial wafer products, enhancing its market position in the semiconductor industry [1][5]. Group 1: Company Developments - Tianyu Semiconductor's stock price increased by 4.98%, reaching HKD 51.90, with a trading volume of HKD 14.25 million [1][5]. - The agreement with EYEQ Lab includes the provision of a full range of SiC epitaxial wafers, covering specifications from 6 to 8 inches and voltage ranges from 650V to 20,000V, suitable for various power electronic devices [1][5]. - EYEQ Lab will prioritize purchasing SiC epitaxial wafers from Tianyu Semiconductor under the same terms and conditions, solidifying the partnership [1][5]. Group 2: Industry Insights - Silicon Carbide (SiC) is recognized as a third-generation semiconductor material, known for its high-temperature, high-voltage, and high-frequency characteristics, making it essential in sectors like electric vehicles, power supply, and rail transportation [1][5]. - According to Frost & Sullivan, Tianyu Semiconductor ranks third in China for self-produced SiC epitaxial wafers, with a market share of 6.7% by revenue and 7.8% by volume in the global market for 2024 [1][5]. - The Chinese market is projected to account for 30.6% of revenue and 32.5% of volume in 2024, positioning Tianyu Semiconductor as the largest manufacturer of self-produced SiC epitaxial wafers in China [1][5].

Group 1 - Tsugami Machine Tool China (01651) saw a nearly 6% increase, reaching a historical high, with revenue of 81.58 billion yen in China, up 28.3% year-on-year, and segment profit of 22.534 billion yen, up 51.2% [1] - Zhizhu (02513) surged over 26%, with a 25.8% increase reported, following the launch of its flagship model GLM-5, which achieved state-of-the-art performance in coding and agent capabilities [1] - China Nuclear International (02302) rose over 7%, with a forecasted revenue of no less than 2.46 billion HKD for 2025, driven by increased uranium trading volume [1] Group 2 - Tianyu Semiconductor (02658) increased nearly 8% after announcing a strategic partnership with EYEQ Lab Inc., a leader in third-generation semiconductors in South Korea [2] - Harbin Electric (01133) rose 7.95% after announcing an expected net profit of 2.65 billion yuan for 2025, a year-on-year increase of approximately 57.2% [2] - Weichai Power (02338) increased over 5.6%, with Morgan Stanley raising the projected cumulative power gap for U.S. data centers from 44 GW to 47 GW for 2025-2028 [2] Group 3 - SOLV Energy (MWH.US) debuted on the U.S. stock market with a 22.68% increase, focusing on large-scale solar power and battery storage projects [4] - Gilead Sciences (GILD.US) rose 5.82%, with a reported revenue growth of 2.4% year-on-year and a significant net profit increase of approximately 16.73 times [4] - TSMC (TSM.US) increased by 3.37%, reporting a January revenue growth of 36.8% year-on-year, marking its strongest monthly revenue ever [5] Group 4 - Bilibili (BILI.US) rose 2.84% after announcing collaboration with the Spring Festival Gala, marking the first involvement of UP owners in the event [6] - Micron Technology (MU.US) surged 9.94% as the memory market experienced a rapid increase, with prices rising 80%-90% since the end of Q4 2025 [7] - Kingsoft Cloud (KC.US) increased by 9.98%, with Goldman Sachs predicting Xiaomi's investment in AI to reach approximately 10 billion yuan in 2026, benefiting Kingsoft Cloud [8]

Core Viewpoint - Tianyu Semiconductor (02658) has signed a strategic cooperation agreement with EYEQ Lab Inc., a leading third-generation semiconductor company in South Korea, to supply a full range of high-quality SiC epitaxial wafer products [1] Company Summary - Tianyu Semiconductor's stock price increased by nearly 8% during trading, currently up by 5.99% at HKD 52.4, with a trading volume of HKD 12.6884 million [1] - The agreement includes the provision of SiC epitaxial wafers covering 6 to 8 inches and a voltage range from 650V to 20,000V, suitable for various power electronic devices [1] - EYEQ Lab will prioritize purchasing SiC epitaxial wafers from Tianyu Semiconductor under the same terms and conditions, strengthening the foundation of their cooperation [1] Industry Summary - Silicon Carbide (SiC) is recognized as a third-generation semiconductor material, known for its high-temperature, high-voltage, and high-frequency characteristics, widely used in electric vehicles, power supply, and rail transportation [1] - According to Frost & Sullivan, Tianyu Semiconductor ranks third in China in the self-manufactured SiC epitaxial wafer market, with a revenue share of 6.7% and a sales volume share of 7.8% in 2024 [1] - The Chinese market for self-manufactured SiC epitaxial wafers is projected to account for 30.6% of revenue and 32.5% of sales volume in 2024, making Tianyu Semiconductor the largest manufacturer in China [1]

Core Viewpoint - Tianyu Semiconductor (02658) has signed a strategic cooperation agreement with EYEQ Lab Inc., a leading third-generation semiconductor company in South Korea, to supply a full range of high-quality SiC epitaxial wafer products, enhancing its market position in the SiC sector [1] Company Summary - Tianyu Semiconductor's stock price increased by nearly 8% during trading, currently up by 5.99% at HKD 52.4, with a trading volume of HKD 12.6884 million [1] - The agreement includes the provision of SiC epitaxial wafers covering 6 to 8 inches and a voltage range from 650V to 20,000V, suitable for various power electronic devices [1] - EYEQ Lab will prioritize purchasing SiC epitaxial wafers from Tianyu Semiconductor under the same terms and conditions, solidifying the partnership [1] Industry Summary - Silicon Carbide (SiC) is recognized as a third-generation semiconductor material, known for its high-temperature, high-voltage, and high-frequency characteristics, making it essential in sectors such as new energy vehicles, power supply, and rail transportation [1] - According to Frost & Sullivan, Tianyu Semiconductor ranks third in China in the self-manufactured SiC epitaxial wafer market, with a revenue share of 6.7% and a sales volume share of 7.8% in 2024 [1] - The Chinese market for self-manufactured SiC epitaxial wafers is projected to account for 30.6% of revenue and 32.5% of sales volume in 2024, positioning Tianyu Semiconductor as the largest domestic manufacturer [1]

Core Viewpoint - Tianyu Semiconductor (02658) has signed a strategic cooperation agreement with EYEQ Lab Inc., a leading third-generation semiconductor company in South Korea, to provide a full range of high-quality SiC epitaxial wafer products [1] Company Summary - Tianyu Semiconductor's stock price increased by nearly 8% during trading, closing up 5.99% at HKD 52.4, with a trading volume of HKD 12.6884 million [1] - The agreement includes the provision of SiC epitaxial wafers covering 6 to 8 inches and a voltage range from 650V to 20,000V, suitable for various power electronic devices [1] - EYEQ Lab will prioritize purchasing SiC epitaxial wafers from Tianyu Semiconductor under the same terms and conditions, solidifying the foundation of their cooperation [1] Industry Summary - Silicon Carbide (SiC) is recognized as a third-generation semiconductor material, known for its high-temperature, high-voltage, and high-frequency characteristics, making it essential in sectors such as new energy vehicles, power supply, and rail transportation [1] - According to Frost & Sullivan, Tianyu Semiconductor ranks third in China in the self-manufactured SiC epitaxial wafer market, with a revenue share of 6.7% and a sales volume share of 7.8% in 2024 [1] - The Chinese market for self-manufactured SiC epitaxial wafers is projected to account for 30.6% of revenue and 32.5% of sales volume in 2024, positioning Tianyu Semiconductor as the largest domestic manufacturer [1]