SICC (02631) saw its shares surge more than 13% during the trading session. At the time of writing, the stock was up 5.86%, trading at HK$102.10 with a turnover of HK$521 million.

Nvidia's push to upgrade data center power architectures to 800V high-voltage direct current is significantly boosting the value and penetration rate of silicon carbide (SiC). According to Citrini Research, wide-bandgap devices such as SiC and gallium nitride (GaN) account for 64% of the incremental cost in the bill of materials for power conversion in a 1MW AI cabinet. It is projected that the SiC market size will grow from $3.5 billion in 2024 to $12.4 billion by 2030, with AI infrastructure contributing nearly half of the demand.

A research report from Guosen Securities noted that, based on data from Japan's Fuji Keizai for 2026, SICC held a 27.6% market share in the global conductive silicon carbide substrate material market in 2025, ranking first worldwide and surpassing Wolfspeed to become the industry leader. Specifically, its market share for 6-inch substrates was 27.5%, while for 8-inch substrates it reached 51.3%. The company has now established partnerships with more than half of the world's top ten power semiconductor device manufacturers and has entered the supply chain of leading international semiconductor companies.