Changes in Hong Kong stocks | Tianyu Semiconductor (02658) rebounded more than 12% the day after listing and was still 20% lower than the offering price

The Zhitong Finance App learned that Tianyu Semiconductor (02658) rebounded more than 12% the day after listing, and the high price of HK$46.16 was still 20% lower than the offering price of HK$58. As of press release, it rose 12% to HK$45.36, with a turnover of HK$81.05 million.

According to reports, Tianyu Semiconductor is the largest manufacturer of silicon carbide epitaxial wafers in China. Based on the revenue and sales volume generated in the Chinese market in 2024, Tianyu Semiconductor's market share is 30.6% and 32.5%, respectively. Furthermore, as of the end of May this year, Tianyu Semiconductor had an annual production capacity of about 420,000 pieces of 6-inch and 8-inch epitaxial films. It is also one of the companies with the highest production capacity in this field in China.

Revenue for 2022, 2023, and 2024 was $437 million, 1,171 million yuan, and 520 million yuan respectively. After net profit increased from 2,814 million yuan to 95.882 million yuan, it turned into a loss of 500 million yuan in 2024; revenue for the first 5 months of 2025 was 257 million yuan, achieving net profit of 9.515 million yuan. Guoyuan International previously commented that the company's performance declined in 2024, mainly due to a decrease in the market price of the company's silicon carbide epitaxial wafers and overseas sales. Huawei-affiliated Hubble Technology Investment holds shares in the company, which helps the company's business gain more room for growth in the medium to long term.