天岳先进招股 拟全球发售4774.57万股H股

Core Viewpoint - Tianyue Advanced plans to conduct an IPO from August 11 to 14, 2025, aiming to issue 47.7457 million H-shares at a maximum price of HKD 42.80 per share, with listing expected on August 19 [1] Company Overview - The company possesses strong technical capabilities in the wide bandgap semiconductor materials industry, focusing on the research and industrialization of silicon carbide substrates [1] - According to Frost & Sullivan, Tianyue Advanced ranks among the top three global manufacturers of silicon carbide substrates, holding a market share of 16.7% in 2024 [1] Investment Details - The company has signed agreements with cornerstone investors, including Guoneng Environmental Protection and Future Asset Securities, with a total subscription amount of HKD 740 million [1] - The net proceeds from the global offering are expected to be approximately HKD 1.938 billion, which will primarily be used for expanding the production capacity of 8-inch and larger silicon carbide substrates (70%), enhancing research and development capabilities (20%), and for working capital and general corporate purposes (10%) [1]