值得一提的是，台积电2025年第四季度业绩远超预期，连续第七个季度实现两位数增长。财报显示，台 积电2025年第四季度净利润同比飙升35%至约160亿美元，创历史新高，毛利率首度突破60%。台积电 将2026年资本开支指引大幅上调至520亿-560亿美元，较此前预期高出近四成。此外，台积电称，未来 三年资本支出将大幅增加。华鑫证券此前指，SiC材料满足AI芯片性能需求，终端AI大客户引领中介层 材料升级。 天岳先进(02631)大涨超17%，盘中高见70.4港元创上市新高。截至发稿，涨14.67%，报68.4港元，成交 额3.14亿港元。 消息面上，浙商证券（601878）研报指出，天岳先进积极拓展碳化硅在新兴领域的应用，打开长期增长 空间。1)AR眼镜：碳化硅材料因其高折射率和轻量化优势，有望成为下一代AR眼镜光波导镜片的理想 材料，实现更优显示效果。2)AIDC：随着AI算力需求爆发，数据中心能耗问题凸显。碳化硅功率器件 可显著提升服务器电源效率，在英伟达等巨头推动数据中心向800V高压架构演进的趋势下，碳化硅有 望成为关键材料。3)先进封装：单晶SiC的热导率比硅高出2-3倍，是中介层的理想材料，这一特 ...

Group 1 - Tianyue Advanced (02631) saw a significant increase of over 17%, reaching a new high of 70.4 HKD, with a trading volume of 314 million HKD [1] - Zhejiang Securities' report highlights Tianyue Advanced's active expansion into silicon carbide (SiC) applications in emerging fields, indicating long-term growth potential [1] - SiC materials are expected to be ideal for next-generation AR glasses due to their high refractive index and lightweight advantages, leading to improved display performance [1] - The demand for AI computing power is driving the need for efficient data center energy consumption, where SiC power devices can significantly enhance server power efficiency [1] - SiC is anticipated to become a key material as major companies like NVIDIA push data centers towards an 800V high-voltage architecture [1] - Single crystal SiC has a thermal conductivity 2-3 times higher than silicon, making it an ideal material for intermediary layers, potentially providing new thermal management solutions for CoWoS packaging [1] Group 2 - TSMC's Q4 2025 performance exceeded expectations, achieving double-digit growth for the seventh consecutive quarter, with net profit soaring 35% year-on-year to approximately 16 billion USD, marking a historical high [2] - TSMC's gross margin has surpassed 60% for the first time, indicating strong operational efficiency [2] - The company has significantly raised its capital expenditure guidance for 2026 to 52-56 billion USD, nearly 40% higher than previous expectations [2] - TSMC anticipates a substantial increase in capital expenditures over the next three years [2] - SiC materials are identified as meeting the performance requirements for AI chips, with major AI clients leading the upgrade of intermediary layer materials [2]