Core Viewpoint - Tianyu Semiconductor (02658) has seen a nearly 7% increase in stock price, reaching a new high of 58.7 HKD, driven by positive market forecasts for silicon carbide (SiC) epitaxial wafers [1] Group 1: Market Growth and Potential - According to a report from Citi, the global silicon carbide epitaxial wafer power semiconductor market is expected to grow at a compound annual growth rate (CAGR) of 40.5% from 2025 to 2029, with a total addressable market (TAM) projected to reach 16 billion USD [1] - Silicon carbide epitaxial wafers are identified as one of the most value-added segments in the upstream supply chain [1] Group 2: Company Positioning - Tianyu Semiconductor is positioned as the largest supplier of silicon carbide epitaxial wafers in the Chinese market for 2024 and is one of the first companies capable of mass-producing 8-inch silicon carbide epitaxial wafers [1] - The company has recently signed a strategic cooperation agreement with EYEQ Lab Inc., a leading third-generation semiconductor company in South Korea, to provide a full range of high-quality SiC epitaxial wafer products [1] Group 3: Product Offerings - The product offerings for EYEQ Lab will cover specifications from 6 to 8 inches and voltage ranges from 650V to 20,000V, suitable for various power electronic devices [1] - This collaboration aims to meet EYEQ Lab's product development and mass production needs across different application scenarios [1]

Core Viewpoint - The report from Citi highlights that Tianyu Semiconductor (02658) is set to benefit from the increasing adoption of silicon carbide (SiC) epitaxial wafers in high-power and high-voltage applications, with a projected compound annual growth rate (CAGR) of 40.5% for the global SiC power semiconductor market from 2025 to 2029, reaching a total addressable market (TAM) of $16 billion [1] Group 1 - The global SiC power semiconductor market is expected to grow at a CAGR of 40.5% from 2025 to 2029, with a TAM of $16 billion [1] - Citi forecasts that Tianyu Semiconductor's revenue will increase to RMB 3.31 billion by 2027 [1] - The target price for Tianyu Semiconductor is set at HKD 70, based on a price-to-sales ratio of 7.5 times [1] Group 2 - SiC epitaxial wafers are identified as one of the most value-added segments in the upstream supply chain [1] - Tianyu Semiconductor is the largest supplier of SiC epitaxial wafers in the Chinese market for 2024 and is among the first companies capable of mass-producing 8-inch SiC epitaxial wafers [1] - The company is expected to be a major beneficiary of the growing demand for SiC technology [1]

Core Viewpoint - The report from Credit Lyonnais indicates that Tianyu Semiconductor (02658) will benefit from the increasing adoption of silicon carbide (SiC) epitaxial wafers in high-power and high-voltage applications, with a projected compound annual growth rate (CAGR) of 40.5% for the global SiC power semiconductor market from 2025 to 2029, reaching a total addressable market (TAM) of $16 billion [1] Group 1 - Credit Lyonnais forecasts that Tianyu Semiconductor's revenue will grow to 3.31 billion RMB by 2027 [1] - The target price is set at 70 HKD based on a price-to-sales ratio of 7.5 times [1] - The report assigns an "Outperform" rating for the stock [1] Group 2 - SiC epitaxial wafers are identified as one of the most value-added segments in the upstream supply chain [1] - Tianyu Semiconductor is projected to be the largest supplier of SiC epitaxial wafers in the Chinese market by 2024 and is among the first companies capable of mass-producing 8-inch SiC epitaxial wafers [1] - The company is expected to be a major beneficiary of the growing market demand [1]