SICC CO.(SH:688234) Da Zhong Ri Bao·2025-08-20 09:41Group 1 - Tianyue Advanced Technology Co., Ltd. officially listed on the Hong Kong Stock Exchange on August 20, marking Shandong's first "A+H" listed company of the year [1][3] - Tianyue Advanced achieved the highest subscription multiple for a public offering in Hong Kong, with over 2000 times oversubscription [1] - The company is recognized as a "hidden champion" in the domestic silicon carbide substrate sector, ranking among the top three global manufacturers with a market share of 16.7% [3] Group 2 - The trend of A-share listed companies seeking to list in Hong Kong is driven by favorable policies, global strategic needs, and narrowing AH share premiums [3] - As of August 20, Shandong has 14 "A+H" listed companies, with Tianyue Advanced being the first information technology company in this category [3][4] - The successful listing of Tianyue Advanced is seen as a model for other Shandong companies, encouraging them to leverage capital markets for innovation and development [4]