On June 18, Tianyue Advanced rose 4.57% in regular trading, trading at 106.0 HKD/share, with turnover of 169 million HKD.

On the news front, AI power demand continues to catalyze the silicon carbide sector. NVIDIA is driving data center power architecture upgrades toward 800V high-voltage direct current, significantly boosting SiC value and penetration rates. The SiC market is projected to grow from USD 3.5 billion to USD 12.4 billion between 2024 and 2030, with AI infrastructure contributing nearly half of total demand. SiC substrate demand from AI power applications alone is expected to reach nearly 70 billion RMB by 2030, representing approximately 8x growth.

Tianyue Advanced commands a 51.3% global market share in 8-inch SiC substrates and holds 27.6% of the overall conductive SiC substrate market. Its 12-inch product has indirectly entered NVIDIA's supply chain, and its 8-inch capacity is running at full utilization. Morgan Stanley recently raised its target price from 86.6 HKD to 106.6 HKD, maintaining an Overweight rating, affirming that 800V DC power cabinet mass production remains on track.

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