J P M O R G A N Asia Pacific Equity Research 03 September 2025 This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. Silicon Carbide Sector Technology Jimmy Huang AC (886-2) 2725-9865 jimmy.huang@jpmorgan.com J.P. Morgan Securities (Taiwan) Limited Gokul Hariharan ...