Core Viewpoint - Tianyu Semiconductor (02658) experienced a rebound of over 12% on its second day of trading, reaching a high of 46.16 HKD, which is still 20% lower than its IPO price of 58 HKD [1] Company Overview - Tianyu Semiconductor is the largest manufacturer of silicon carbide (SiC) epitaxial wafers in China, holding market shares of 30.6% and 32.5% in revenue and sales respectively for 2024 in the Chinese market [1] - As of the end of May this year, the company's annual production capacity for 6-inch and 8-inch epitaxial wafers is approximately 420,000 pieces, making it one of the companies with the highest capacity in this field in China [1] Financial Performance - The company's revenue for 2022, 2023, and 2024 is projected to be 437 million, 1.171 billion, and 520 million CNY respectively, with net profit increasing from 2.814 million to 95.882 million CNY, followed by a projected loss of 500 million CNY in 2024 [1] - For the first five months of 2025, the company reported revenue of 257 million CNY and a net profit of 9.515 million CNY [1] Market Dynamics - A report from Guoyuan International indicated that the company's performance in 2024 is expected to decline, primarily due to a decrease in market prices for SiC epitaxial wafers and reduced overseas sales [1] - Hubble Technology, affiliated with Huawei, holds shares in the company, which is expected to provide significant growth potential for the company's business in the medium to long term [1]
港股异动 | 天域半导体(02658)上市次日反弹逾12% 仍较招股价低20%