SICC (02631) rose more than 14% in morning trading. As of the time of writing, the stock was up 13.82%, trading at HKD 56.75, with a turnover of HKD 147 million. On the news front, leading silicon carbide crystal growth equipment manufacturer Jingsheng Shares indicated that the silicon carbide substrate market has shown clear signs of recovery. Prices for 6-inch SiC substrates have rebounded sharply, while 8-inch products have stabilized after previous declines and are now experiencing slight increases. Downstream customers have shown a noticeable uptick in new orders, and the industry's supply-demand dynamics have improved significantly. This round of price recovery is driven by combined demand from automotive-grade applications, energy storage, and AI computing power, coupled with supply constraints following a period of deep inventory reduction in the sector. This marks the end of a nearly year-long cycle of sharp price declines for silicon carbide, signaling a turning point toward price recovery and renewed demand. Notably, in May 2025, there were rumors about Wolfspeed facing bankruptcy. Galaxy Securities pointed out that in 2025, SICC's market share for conductive silicon carbide substrates reached 27.6%, surpassing Wolfspeed to become the global leader. This achievement not only breaks Wolfspeed's long-standing dominance but also solidifies SICC's leading position in the silicon carbide substrate industry.