天岳先进开启招股，拟募资约18亿扩张大尺寸SiC衬底产能

Group 1 - The core viewpoint of the article is that Tianyue Advanced is planning to issue H-shares globally, with a total of 47.7457 million shares, aiming to raise approximately HKD 19.38 billion (around RMB 1.77 billion) for expansion and R&D purposes [2][3]. - Approximately 70% of the raised funds will be allocated to expanding the production capacity of 8-inch and larger silicon carbide substrates, while 20% will enhance R&D capabilities to maintain innovation leadership [2]. - The company aims to accelerate its international strategy and overseas business layout, enhancing its overseas financing capabilities and building a global cooperation ecosystem [2]. Group 2 - Tianyue Advanced previously went public on the Sci-Tech Innovation Board in January 2022, initially planning to raise RMB 2 billion, but ultimately raised RMB 3.203 billion for silicon carbide semiconductor material projects [3]. - If the Hong Kong listing is successful, it will establish an "A+H" dual listing structure for the company [3].