Shares of SICC (02631) experienced a significant surge of over 10% in the afternoon session.

As of the latest update, the stock was up 9.57%, trading at HK$98.5 with a turnover of HK$606 million.

Key Market Drivers

According to industry reports, the silicon carbide (SiC) supply chain is experiencing robust demand.

This is attributed to a recovery in multiple downstream applications, growth in AI data center orders, positive demand expectations, and a broader semiconductor industry trend of rising prices.

Insights from Industry Analysis

An interview with a senior analyst from the industry research firm InSemi Research revealed that leading silicon carbide substrate manufacturers, including SICC and Tianke Heda, are currently operating at capacity utilization rates exceeding 90%.

Company's Market Position and Developments

Public data indicates that in 2025, SICC achieved a global market share of 27.6% for conductive silicon carbide substrates, surpassing Wolfspeed to become the industry leader.

The company's 12-inch SiC substrates have entered the supply chain verification stage with Taiwan Semiconductor Manufacturing Company (TSMC).

They are being tested as a potential alternative for the next-generation CoWoS interposer solution, aimed at replacing silicon interposers to address thermal dissipation bottlenecks in high-performance GPUs.