Seizing AI data center development opportunities, Hantian Tiancheng (02726), a global leader in silicon carbide epitaxial extension, showed strong growth in performance

According to Zhitong Finance App, China's leading silicon carbide epitaxial company Hantiancheng (02726) disclosed its 2026 interim results, achieving revenue of 578 million yuan during the period, an increase of 92% over the previous year. Gross profit reached 161 million yuan, up 193.5% year on year, and gross margin was 27.8%. Adjusted net profit was $139 million, up 43.4% year over year. Cash flow from operating activities maintained a continuous net inflow, and cash reserves increased by 75.9% to 3.2 billion yuan, providing a solid financial guarantee for the company's continued operation, capacity expansion and subsequent development.

In terms of strategic layout, Hantian Tiancheng is grasping the AI data center strategic circuit. As the first silicon carbide epitaxial company in mainland China to enter the international supply chain on a large scale, many of the company's leading international customers have already entered the Nvidia AIDC supply chain, and the company has begun to clearly benefit from the rapidly growing demand for power chips in AI computing power centers.

At the level of technological innovation, Hantian Tiancheng was the first company in the world to release 12-inch SiC epitaxial wafers, and achieved a 12-inch order breakthrough during the reporting period, leading the world in market layout.

Relying on excellent product strength, Hantian Tiancheng has formed a strong base of high-quality customers and has established a leading position in the global silicon carbide epitaxial extension. Currently, 4 of the top 5 global silicon carbide power device manufacturers are company customers, and 8 of the top 10 global power device manufacturers have established cooperation with the company. In the supplier review of one of the top five silicon carbide device manufacturers in the world, the company received a perfect score for all assessment indicators, and the product quality was highly recognized by international customers. The number of customers purchasing 8-inch products reached 35, and the advantage of the customer base continues to grow. At the same time, the company continued to expand its customer base, adding 6 new customers during the reporting period and entering the core supply chain system of a leading European auto parts giant and a leading domestic first-line specialty process foundry.

In the age of AI computing power, the silicon carbide industry ushered in a golden window for development, which is expected to bring broad incremental space for Hantiancheng. 12-inch products have achieved historic order breakthroughs. The company is expected to use this significant intergenerational gap to establish a first-mover advantage in the 12-inch silicon carbide industrialization process and fully benefit from the industrial upgrading dividends of the industry to large-scale iterations. By combining the card position advantages of the AIDC industry chain and high-quality global customer resources, Hantiancheng will continue to seize industry opportunities and fully unleash growth momentum.