Core Viewpoint - Tianyue Advanced (02631) is experiencing a significant stock price increase, attributed to its strategic positioning in the silicon carbide (SiC) substrate market, particularly in relation to NVIDIA's upcoming demand for advanced packaging materials [1] Group 1: Company Developments - Tianyue Advanced's stock rose nearly 6% in early trading, currently up 4.44% at HKD 60, with a trading volume of HKD 46.61 million [1] - The company held a performance briefing for the first half of 2025 on October 13, where it discussed its advancements in SiC products [1] - The company has launched a full range of 12-inch SiC products, including conductive, semi-insulating, and P-type substrates, and is actively engaging with downstream customers [1] Group 2: Market Opportunities - NVIDIA plans to switch its CoWoS advanced packaging substrate material from silicon to silicon carbide by 2027, which could lead to a demand for approximately 77,000 substrates for the H100 alone [1] - Tianyue Advanced is recognized as a leading domestic enterprise in 12-inch technology, positioning it well to capture potential market opportunities arising from NVIDIA's transition [1] - The company has received multiple orders for its 12-inch SiC products from global leading customers, indicating strong market interest and demand [1] Group 3: Future Outlook - The chairman of Tianyue Advanced mentioned that the second phase of the Shanghai Lingang base expansion will focus on 12-inch products, although specific capacity and cooperation details were not disclosed [1] - In response to whether the company can meet 10% of NVIDIA's high-end GPU market demand by 2027, the company stated it has made forward-looking technological arrangements to seize market opportunities [1]