Core Viewpoint - The announcement details a change in equity ownership for Shandong Tianyue Advanced Technology Co., Ltd. due to the issuance of overseas listed foreign shares (H shares), resulting in a dilution of shareholding percentages for certain shareholders without triggering a mandatory tender offer [3][6]. Summary by Sections Equity Change Details - The equity change is a result of the company issuing H shares and listing on the Hong Kong Stock Exchange, leading to an increase in total share capital and a passive dilution of shareholding percentages for existing shareholders [3][6]. - The shareholding percentages for key shareholders have decreased: - Zong Yanmin and his concerted actions (Shanghai Maiming Enterprise Management Center and Shanghai Zhu'ao Enterprise Management Center) hold 165,335,726 shares, with their percentage dropping from 38.48% to 34.63% [4]. - Guocai Equity Investment Fund (Jinan) holds 38,673,994 shares, with their percentage decreasing from 9.00% to 8.10% [4]. - Hubble Technology Venture Capital holds 27,262,500 shares, with their percentage falling from 6.34% to 5.71% [4]. Control and Ownership - The equity change will not result in a change of the controlling shareholder or the actual controller of the company [4][8]. - The number of shares held by the aforementioned shareholders remains unchanged despite the dilution in percentage [4][8]. Additional Information - The equity change does not involve any funding sources and does not trigger a mandatory tender offer [9]. - There is uncertainty regarding whether the company will exercise the over-allotment option in the future, and any related equity changes will be disclosed in accordance with regulations [9].

承董事會命 山東天岳先進科技股份有限公司（「本公司」）之董事會（「董事會」）謹此宣佈， 本公司將於2025年8月29日（星期五）舉行董事會會議。董事會將於會上通過議 案，其中包括考慮及批准本公司及其附屬公司截至2025年6月30日止六個月之 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佈的內容概不負責，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佈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. 山東天岳先進科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2631） 董事長、執行董事兼總經理 董事會召開通告 香港，2025年8月22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、劉華女士及 黎國鴻先生。 未經審核綜合中期業績以及其刊發之事宜，並考慮建議派付中期股息（如有）。 宗艷民先生 ...

Core Viewpoint - Tianyue Advanced (02631) has seen a stock price increase of over 4%, currently trading at 44.6 HKD with a transaction volume of 1.08 billion HKD, following a partnership agreement with Toshiba Electronic Components and Storage Devices Corporation for the development of SiC power semiconductor substrates [1]. Company Summary - Tianyue Advanced has reached a basic agreement with Toshiba for technical collaboration aimed at enhancing the characteristics and quality of SiC power semiconductors [1]. - The collaboration will focus on expanding the commercial supply of high-quality and stable substrates for SiC power semiconductors [1]. Industry Summary - Toshiba is accelerating the development of SiC devices for applications such as server power supplies and automotive uses, leveraging its experience in railway SiC power semiconductors [1]. - The partnership with Tianyue Advanced, a global leader in SiC substrate development and mass production technology, is expected to provide optimal solutions for various application scenarios and accelerate business expansion [1].

Group 1 - Tianyue Advanced (02631) saw its stock rise over 4% in the afternoon, currently trading at 44.6 HKD with a transaction volume of 1.08 million HKD [1] - On August 22, Tianyue Advanced reached a basic agreement with Toshiba Electronic Components and Storage Devices Corporation to collaborate on the development and manufacturing of SiC power semiconductor substrates [1] - The collaboration will focus on technical cooperation to enhance the characteristics and quality of SiC power semiconductors, as well as commercial cooperation to expand the supply of high-quality stable substrates [1] Group 2 - Toshiba is accelerating the development of SiC devices for server power supplies and automotive applications, aiming to reduce losses in SiC power semiconductors and develop high-reliability, high-efficiency products for efficient power conversion [1] - The partnership with Tianyue Advanced, a global leader in SiC substrate development and mass production technology, is expected to provide optimal solutions for various application scenarios and accelerate business expansion [1]

Group 1 - Tianyue Advanced (02631) saw its stock rise over 4% in the afternoon, currently trading at 44.6 HKD with a transaction volume of 108 million HKD [1] - On August 22, Tianyue Advanced reached a basic agreement with Toshiba Electronic Components and Storage Devices Corporation to collaborate on the development and manufacturing of SiC power semiconductor substrates [1] - The collaboration will focus on technical cooperation to enhance the characteristics and quality of SiC power semiconductors, as well as commercial cooperation to expand the supply of high-quality stable substrates [1] Group 2 - Toshiba is accelerating the development of SiC devices for server power supplies and automotive applications, aiming to reduce power loss in SiC power semiconductors and develop high-reliability, high-efficiency products for efficient power conversion [1] - The partnership with Tianyue Advanced, a global leader in SiC substrate development and mass production technology, is expected to provide optimal solutions for various application scenarios and accelerate business expansion [1]

Group 1 - Tianyue Advanced has reached a basic agreement with Toshiba Electronic Components and Storage Devices Corporation to collaborate on the development and manufacturing of SiC power semiconductor substrates, focusing on technical cooperation for enhancing SiC power semiconductor characteristics and quality improvement [1][2] - The demand for power semiconductors, essential for energy efficiency and carbon neutrality in electrical devices, is expected to continue expanding, particularly for SiC substrates used in electric vehicles and renewable energy systems [3] - Toshiba is accelerating the development of SiC devices for server power supplies and automotive applications, aiming to reduce power loss and enhance reliability and efficiency in high-efficiency power conversion applications [3][4] Group 2 - Tianyue Advanced, founded in 2010, specializes in the development and production of single-crystal SiC substrates, holding a top-five position globally in related patents [4] - The company plans to launch the world's first 12-inch SiC substrate in 2024 and aims to achieve a full range of n-type, semi-insulating, and p-type 12-inch substrates by 2025 [4] - The collaboration with Toshiba is expected to enhance substrate quality and reliability, supporting the growth of the SiC power semiconductor market [4]

Group 1 - Tianyue Advanced (688234) officially launched its H-share global offering in August 2025, with Shenzhen Heertai (002402) as one of the cornerstone investors, subscribing for HKD 80 million [1] - Tianyue Advanced focuses on wide-bandgap semiconductor materials and is one of the few companies capable of mass production of 8-inch silicon carbide substrates, having also launched 12-inch silicon carbide substrate products [1] - In 2024, Tianyue Advanced is projected to capture 16.7% of the global silicon carbide substrate market, ranking among the top three [1] Group 2 - The company achieved a revenue of RMB 1.768 billion in 2024, representing a year-on-year growth of 41.4%, and net profit of RMB 179 million, marking a turnaround from losses [1] - The silicon carbide substrates produced by Tianyue Advanced have advantages in high voltage, high frequency, and high temperature, with applications in electric vehicle drive systems, AI servers, and smart power management modules [2] - The global silicon carbide substrate market is expected to grow from USD 1.2 billion in 2023 to USD 8.2 billion by 2030, with a compound annual growth rate of 31.1% [2]

Core Insights - The total margin balance of the Sci-Tech Innovation Board reached 202.642 billion yuan on August 21, increasing by 0.0513 billion yuan from the previous trading day [1] - The financing balance amounted to 201.981 billion yuan, up by 0.0498 billion yuan, while the securities lending balance was 0.0661 billion yuan, rising by 0.0015 billion yuan [1] Individual Stock Performance - On August 21, 322 stocks on the Sci-Tech Innovation Board experienced net financing inflows, with 18 stocks having net inflows exceeding 30 million yuan [1] - Cambricon Technologies led the net financing inflow with an amount of 0.278 billion yuan, followed by companies like Zhongwei Company, Baiwei Storage, Xiamen Tungsten New Energy, Tianyue Advanced, and Aojie Technology, each with net inflows exceeding 50 million yuan [1]

Core Viewpoint - The announcement details a passive dilution of shareholding percentages for significant shareholders of Shandong Tianyue Advanced Technology Co., Ltd. due to the issuance of H-shares and listing on the Hong Kong Stock Exchange, without triggering a mandatory takeover offer [3][4][10]. Group 1: Shareholding Changes - The issuance of H-shares has led to a total increase in the company's share capital, resulting in a passive dilution of shareholding percentages for certain shareholders [3][8]. - After the dilution, the shareholding percentage of Zong Yanmin and his concerted actions (Shanghai Maiming Enterprise Management Center and Shanghai Zhu'ao Enterprise Management Center) decreased from 38.48% to 34.63%, while their total shareholding remains unchanged at 165,335,726 shares [4][10]. - The shareholding percentage of Guocai Equity Investment Fund (Jinan) decreased from 9.00% to 8.10%, with the number of shares held remaining at 38,673,994 [4][10]. - Hubble Technology Venture Capital Co., Ltd. saw its shareholding percentage decrease from 6.34% to 5.71%, with a constant shareholding of 27,262,500 shares [4][10]. Group 2: Control and Offer Implications - The changes in shareholding will not result in a change of the controlling shareholder or actual controller of the company [4][10]. - The rights change does not involve any funding sources and does not trigger a mandatory takeover offer [11]. - There is uncertainty regarding whether the company will exercise the over-allotment option in its issuance, and any future changes in rights will be disclosed in accordance with regulations [11].

Core Viewpoint - Tianyue Advanced officially listed on the Hong Kong Stock Exchange on August 20, 2023, with a first-day opening price of HKD 45.60 per share, representing a 6.54% increase from the issue price [1][3] Company Overview - Shandong Tianyue Advanced Technology Co., Ltd. was established in November 2010 and focuses on the research, production, and sales of silicon carbide single crystal substrate materials [3] - The company offers semi-insulating and conductive silicon carbide substrates applicable in microwave electronics and power electronics [3] - Tianyue Advanced is the only company listed on both the A-share and H-share markets for silicon carbide substrates [3] Market Position - According to Frost & Sullivan, Tianyue Advanced ranks among the top three global manufacturers of silicon carbide substrates by sales revenue, holding a market share of 16.7% as of 2024 [3] - The company is one of the few globally capable of mass-producing 8-inch silicon carbide substrates and was the first to commercialize the transition from 2-inch to 8-inch substrates [3] - Tianyue Advanced was also the first company to launch 12-inch silicon carbide substrates [3] Financial Performance - In 2024, the company achieved operating revenue of CNY 1.768 billion, a year-on-year increase of 41.37% [4] - The net profit attributable to the parent company was CNY 180.464 million, an increase of CNY 226.1845 million, marking a turnaround to profitability [4] - The net profit after deducting non-recurring gains and losses was CNY 157.532 million, also reflecting a significant year-on-year increase [4] - In the first quarter of 2025, Tianyue Advanced reported operating revenue of CNY 408 million and a net profit of CNY 8.5182 million [4]