华为加持！国内SiC厂商冲击港股IPO

Core Viewpoint - Hantian Technology (Xiamen) Co., Ltd. has completed the key regulatory procedures for its overseas listing in Hong Kong, marking a significant step towards its IPO process on the Hong Kong Stock Exchange [1]. Company Overview - Founded in 2011 by Dr. Zhao Jianhui, Hantian Technology specializes in the research, production, and sales of silicon carbide (SiC) epitaxial wafers, being the first in China to commercialize full-size (3/4/6/8 inches) SiC epitaxial wafers [2][3]. - The company’s products are widely used in strategic emerging fields such as new energy vehicles, photovoltaic energy storage, industrial power supplies, and rail transportation, catering to high-end application needs [3]. Shareholder Structure - Hantian Technology plans to issue no more than 37.68 million overseas listed ordinary shares, while 39 shareholders intend to convert a total of 97.43 million domestic unlisted shares into overseas listed shares [3]. - The founder, Dr. Zhao Jianhui, holds a 28.85% stake, making him the controlling shareholder, while Huawei's Hubble Technology holds 4.03%, ranking as the fifth-largest shareholder [3]. Recent Developments - The company has been actively expanding its production capacity and enhancing its technology, laying a solid foundation for its upcoming IPO [5]. - In December 2025, Hantian Technology launched the world's first 12-inch silicon carbide epitaxial wafer, achieving a thickness non-uniformity of ≤3% and a doping concentration non-uniformity of ≤8%, with a yield rate exceeding 96% for 2mm×2mm chips [5]. Industry Context - The move towards an IPO by Hantian Technology reflects the current trend in the silicon carbide epitaxial and third-generation semiconductor industries, driven by explosive growth in downstream markets such as new energy vehicles and photovoltaic energy storage [6]. - The global silicon carbide epitaxial industry is expected to trend towards larger sizes, domestic production, collaboration, and high-end applications, with 8-inch and 12-inch wafers becoming mainstream [9]. - Successful listing will provide Hantian Technology with substantial fundraising support to accelerate its 8-inch capacity expansion and 12-inch technology development, contributing to the advancement of domestic silicon carbide epitaxial technology and capacity [9].