Group 1 - Tianyu Semiconductor (02658) rebounded over 12% on its second day of listing, reaching a high of 46.16 HKD, still 20% lower than the IPO price of 58 HKD [1] - As of the end of May this year, Tianyu Semiconductor's annual production capacity for 6-inch and 8-inch epitaxial wafers is approximately 420,000 pieces, making it one of the companies with the highest capacity in this field in China [1] - The company's market share in the Chinese market for 2024 is projected to be 30.6% in revenue and 32.5% in sales [1] Group 2 - Revenue for Tianyu Semiconductor is projected to be 437 million, 1.171 billion, and 520 million CNY for the years 2022, 2023, and 2024 respectively, with net profit increasing from 2.814 million to 95.882 million CNY before turning to a loss of 500 million CNY in 2024 [1] - In the first five months of 2025, the company achieved revenue of 257 million CNY and a net profit of 9.515 million CNY [1] - The decline in performance for 2024 is attributed to reduced market prices for silicon carbide epitaxial wafers and decreased overseas sales, as noted by Guoyuan International [1] Group 3 - Hubble Technology, affiliated with Huawei, holds shares in Tianyu Semiconductor, which is expected to provide significant growth potential for the company's business in the medium to long term [1]

Core Viewpoint - Tianyu Semiconductor (02658) experienced a rebound of over 12% on its second day of trading, reaching a high of 46.16 HKD, although it remains 20% lower than its IPO price of 58 HKD [2][5]. Company Overview - Tianyu Semiconductor is the largest manufacturer of silicon carbide (SiC) epitaxial wafers in China, with a market share of 30.6% in revenue and 32.5% in sales projected for 2024 [2][5]. - As of the end of May this year, Tianyu Semiconductor has an annual production capacity of approximately 420,000 pieces for 6-inch and 8-inch epitaxial wafers, making it one of the companies with the highest capacity in this sector in China [2][5].

Core Viewpoint - Tianyu Semiconductor (02658) experienced a rebound of over 12% on its second day of trading, reaching a high of 46.16 HKD, which is still 20% lower than its IPO price of 58 HKD [1] Company Overview - Tianyu Semiconductor is the largest manufacturer of silicon carbide (SiC) epitaxial wafers in China, holding market shares of 30.6% and 32.5% in revenue and sales respectively for 2024 in the Chinese market [1] - As of the end of May this year, the company's annual production capacity for 6-inch and 8-inch epitaxial wafers is approximately 420,000 pieces, making it one of the companies with the highest capacity in this field in China [1] Financial Performance - The company's revenue for 2022, 2023, and 2024 is projected to be 437 million, 1.171 billion, and 520 million CNY respectively, with net profit increasing from 2.814 million to 95.882 million CNY, followed by a projected loss of 500 million CNY in 2024 [1] - For the first five months of 2025, the company reported revenue of 257 million CNY and a net profit of 9.515 million CNY [1] Market Dynamics - A report from Guoyuan International indicated that the company's performance in 2024 is expected to decline, primarily due to a decrease in market prices for SiC epitaxial wafers and reduced overseas sales [1] - Hubble Technology, affiliated with Huawei, holds shares in the company, which is expected to provide significant growth potential for the company's business in the medium to long term [1]

Core Viewpoint - Tianyu Semiconductor (02658) experienced a rebound of over 12% on its second day of trading, reaching a high of 46.16 HKD, still 20% lower than its IPO price of 58 HKD [1] Company Overview - Tianyu Semiconductor is the largest manufacturer of silicon carbide (SiC) epitaxial wafers in China, holding market shares of 30.6% in revenue and 32.5% in sales for 2024 [1] - As of the end of May this year, the company's annual production capacity for 6-inch and 8-inch epitaxial wafers is approximately 420,000 pieces, making it one of the companies with the highest capacity in this field in China [1] Financial Performance - Revenue figures for Tianyu Semiconductor are projected at 437 million, 1.171 billion, and 520 million CNY for the years 2022, 2023, and 2024 respectively [1] - Net profit is expected to increase from 2.814 million CNY to 95.882 million CNY, followed by a projected loss of 500 million CNY in 2024 [1] - For the first five months of 2025, the company reported revenue of 257 million CNY and a net profit of 9.515 million CNY [1] Market Dynamics - The decline in the company's performance in 2024 is attributed to a decrease in market prices for silicon carbide epitaxial wafers and reduced overseas sales [1] - Hubble Technology, affiliated with Huawei, holds shares in the company, which is expected to provide significant growth potential for the business in the medium to long term [1]

Group 1 - Guangdong Tianyu Semiconductor Co., Ltd. officially listed on the Hong Kong Stock Exchange on December 5, 2023, with a global offering of 30.0705 million shares at an issue price of HKD 58 per share, raising approximately HKD 1.744 billion [1] - Founded in 2009 and headquartered in Dongguan, China, Tianyu Semiconductor is one of the earliest companies focused on the research and manufacturing of silicon carbide (SiC) epitaxial wafers, with products used in electric vehicles, photovoltaics, energy storage, and rail transportation [1] - The company currently operates a production base of approximately 35,978 square meters in Dongguan, primarily for 6-inch SiC epitaxial wafers, with a new base expected to be operational by the end of 2025 to further enhance production capacity [1] Group 2 - The funds raised from the IPO will primarily be used for expanding overall production capacity over the next five years, including the expansion of 8-inch SiC epitaxial wafers and establishing a production base in Southeast Asia [3] - The company aims to leverage its successful experience in third-generation semiconductor materials to extend its research focus to gallium oxide and other fourth-generation semiconductor developments, with a key investment of 700 million yuan in the industrialization of bonded substrate epitaxy technology [3] Group 3 - Before the IPO, the founders Li Xiguang and Ouyang Zhong controlled approximately 29.05% and 18.21% of the company, respectively, while Huawei Hubble Technology held about 6.57% and BYD held 1.50% [1]

中国经济网北京12月5日讯 广东天域半导体股份有限公司（简称"天域半导体"，02658.HK）今日在港交所上市，开盘报38港元，跌破发行价。截至收 盘，该股报40.5港元，跌幅30.17%。 分配结果公告显示，天域半导体发售股份数目30,070,500股，其中，公开发售的发售股份最终数目3,007,050股，国际发售的发售股份最终数目 27,063,450股。 | 發售股份及股本 | | | --- | --- | | 發售股份數目 | 30,070,500 | | 公開發售的發售股份的最終數目 | 3,007,050 | | 國際發售的發售股份的最終數目 | 27,063,450 | | 於上市後已發行股份數目(於超額配股權獲行使前) | 393,268,511 | 天域半导体的独家保荐人、保荐人兼整体协调人、整体协调人、联席全球协调人、联席账簿管理人及联席牵头经办人是中信证券，整体协调人、联席 全球协调人、联席账簿管理人及联席牵头经办人是中金公司（601995）、招银国际、广发证券，联席账簿管理人是农银国际、满好证券、兴证国际、 中国北方证券集团、富途证券、工银国际、利弗莫尔证券、申万宏源香港、国金证券（ ...

除本公告另有界定外，本公告中所用詞彙與廣東天域半導體股份有限公司（「本公司」）所刊發日期為2025年 11月27日的招股章程（「招股章程」）所界定者具有相同涵義。香港交易及結算所有限公司、香港聯合交易所有 限公司（「香港聯交所」）及香港中央結算有限公司（「香港結算」）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，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任 何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購證券的邀請或要約。本公告並非招股章程。有意投資者決定是 否投資於H股前，應細閱招股章程以了解下文有關全球發售的詳細資料。 Guangdong Tianyu Semiconductor Co., Ltd. 廣 東 天 域 半 導 體 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2658） 澄清公告 本公司董事會（「董事會」）有意修改本公司刊發日期為2025年12月4日的配發結果公告 （「配發結果公告」）中英文版本的若干手民之誤。 請參閱隨附顯示澄清的配發結果公告黑線版本。澄清詳情載於「獲得豁免╱同意的獲分 配者」、「 ...

天域半导体发展过程中，得到了诸多机构投资者的认可。招股书显示，自2021年以来，天域半导体完成5轮增资及2轮股权转让，吸引了包括华为哈勃、比 亚迪、尚颀资本、大中实业、春阳投资、复朴投资、中国-比利时基金等众多机构的加持。 作为国内首家专业从事第三代半导体碳化硅（SIC）外延片研发、生产与销售的高新技术企业，天域半导体深耕碳化硅外延片逾15年，凭借自主研发的核 心工艺与技术，产品4寸、6寸迭代到最新的8寸量产，性能指标达到国际先进水平，在新能源汽车、智能工业、光伏、电力等领域实现广泛应用，客户覆 盖比亚迪等新能源汽车龙头及海外IDM企业。2024年以30.6%收入份额位居中国碳化硅外延片市场首位，全球市场份额6.7%排名第三，展现出强劲的市场 竞争力。 此次上市，天域半导体全球发售3007.05万股H股，募资净额约16.71亿港元，将重点用于扩张整体产能、提升研发创新能力、战略投资收购及拓展全球市 场网络等领域。从行业前景来看，受益于新能源行业的高速发展，中国碳化硅外延片市场规模预计2028年将达132亿元，复合年增长率超50%，天域半导 体正迎来广阔的发展机遇期。 来源：东莞日报 12月5日 东莞本土培育的 ...

Core Viewpoint - Tianyu Semiconductor officially listed on the Hong Kong Stock Exchange on December 5, marking a new phase in its development and injecting new momentum into China's third-generation semiconductor industry [1] Group 1: IPO Details - The IPO was priced at HKD 58.00 per share, with a base issuance of 30.07 million shares and a green shoe option increasing the total to 34.58 million shares. The public offering was significantly oversubscribed [3] - The funds raised will be primarily used to expand overall capacity, enhance independent research and innovation, implement strategic investments or acquisitions, expand global sales and market networks, and supplement working capital [3] Group 2: Company Background and Technology - Established in 2009, Tianyu Semiconductor is one of the early companies in China focused on the research and manufacturing of silicon carbide (SiC) epitaxial wafers. The company has achieved stable mass production of 4-inch and 6-inch wafers and has the capability for 8-inch wafer production as of 2023 [3] - As of May 31, 2025, the company holds 84 patents, including 33 invention patents, and has played a leading role in drafting several international and national standards, gaining industry recognition for its technological strength [3] Group 3: Market Position and Future Plans - In 2024, Tianyu Semiconductor is projected to hold a 30.6% revenue share and a 32.5% sales share in China's silicon carbide epitaxial wafer market, ranking first domestically. In the global market, it is expected to achieve a 6.7% revenue share and a 7.8% sales share, placing it among the top three [4] - The company plans to expand its production capacity to approximately 420,000 pieces annually for 6-inch and 8-inch wafers by 2025, with a new base in Dongguan expected to commence production by the end of 2025 [4] - The chairman expressed that the listing is seen as a new starting point and challenge, with plans to continuously expand capacity, increase R&D investment, enrich the product matrix, and deepen cooperation with core customers [4] Group 4: Vision and Social Responsibility - Tianyu Semiconductor views its successful listing as a long-term capital supplement channel and an opportunity for investors to participate in the growth of the third-generation semiconductor industry. The company is optimistic about the broad application prospects of silicon carbide in electric vehicles, photovoltaics, energy storage, smart grids, rail transportation, and AI-related power electronics [5] - The company aims to be a "trusted leader in third-generation semiconductors driven by innovation," while also committing to social responsibility by donating HKD 1 million for disaster relief efforts [4][5]

招股书显示，天域半导体在上市后的股东架构中，李锡光先生、苏琴女士夫妇及其控制德数家持股平 台，连同欧阳忠先生，作为一组控股股东，合计持股约53.8954%。其他投资者包括华为旗下哈勃科 技、比亚迪(002594.SZ，01211.HK)、尚欣投资、粤科鑫泰等。其他公众股东持股7.6463%。 | | 天域半导体(02658.HK)香港上市后股东架构 | | | --- | --- | --- | | 控股股东(一致行动) | | 持股比例 | | 李锡光先生 | | 26.8308% | | 開始投资 | 李锡光、苏琴夫妇旗下天城共创为执 | 5.1554% | | 润生投资 | 行合伙人 | 2.9459% | | 旺和投资 | | 2.1488% | | 欧阳忠先生 | | 16.8146% | | 小计 | | 53.8954% | | 其他股东 | | | | 李于明先生 | | 8.2258% | 来源：瑞恩资本RyanbenCapital 2025年12月5日，来自广东东莞的碳化硅外延片制造商天域半导体(02658.HK)成功在香港联合交易所主 板挂牌上市。 天域半导体是次IPO全球发售3007. ...