HK Stock Movement | TIANYU SEMI (02658) Rebounds Over 12% on Second Trading Day, Still 20% Below IPO Price

Stock News2025-12-08

TIANYU SEMI (02658) surged over 12% on its second trading day, reaching a high of HK$46.16, though still 20% below its IPO price of HK$58. At the time of writing, the stock was up 12% at HK$45.36, with a turnover of HK$81.50 million.

As China's largest silicon carbide (SiC) epitaxial wafer manufacturer, TIANYU SEMI holds market shares of 30.6% and 32.5% by revenue and sales volume, respectively, in the 2024 domestic market. By the end of May this year, its annual production capacity for 6-inch and 8-inch epitaxial wafers reached approximately 420,000 units, making it one of the highest-capacity players in the sector.

The company reported revenues of RMB437 million, RMB1.171 billion, and RMB520 million in 2022, 2023, and 2024, respectively. After net profit grew from RMB2.814 million to RMB95.882 million, it swung to a RMB500 million loss in 2024. For the first five months of 2025, revenue stood at RMB257 million with a net profit of RMB9.515 million.

Analysts attributed the 2024 performance decline to falling SiC wafer prices and reduced overseas sales. Notably, Huawei-affiliated Hubble Technology Investment holds shares in the company, which is expected to support long-term business growth.

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