SICC CO.(SH:688234) Jin Rong Jie·2025-07-30 23:05Core Viewpoint - Shandong Tianyue Advanced Technology Co., Ltd. is a leading player in the wide bandgap semiconductor materials industry, focusing on the research and industrialization of silicon carbide substrates, and is ranked among the top three global manufacturers in this sector with a market share of 16.7% as of 2024 [1][3]. Company Overview - The company has established itself as a significant supplier to international semiconductor firms, having formed business partnerships with over half of the top ten power semiconductor device manufacturers globally by revenue as of March 31, 2025 [2]. - Tianyue Advanced is recognized for its pioneering efforts in the industrialization of semi-insulating silicon carbide substrates and has successfully scaled production from 2-inch to 8-inch substrates, with plans to launch the first 12-inch silicon carbide substrate in 2024 [2]. Market Dynamics - The global silicon carbide substrate market is characterized by intense competition, rapid technological advancements, and evolving customer demands, with the top five market participants holding a combined market share of 68.0% as of 2024 [3]. - Silicon carbide materials are gaining traction due to their superior characteristics compared to traditional silicon materials, particularly in power semiconductor devices, with the global power semiconductor device market expected to reach $19.7 billion by 2030, growing at a compound annual growth rate of 35.8% from 2024 to 2030 [3]. Financial Performance - The company reported revenues of approximately 417 million RMB, 1.251 billion RMB, 1.768 billion RMB, and 408 million RMB for the fiscal years 2022, 2023, 2024, and the three months ending March 31, 2025, respectively [3]. - Profit figures for the same periods were approximately -176 million RMB, -46 million RMB, 179 million RMB, and 9 million RMB [3].