TY Semiconductor (02658) rose nearly 7%, reaching a record high of HK$58.7. At the time of writing, the stock was up 6.73% at HK$58.7, with a turnover of HK$11.87 million. A research report from CLSA noted that TY Semiconductor is benefiting from increased adoption of silicon carbide (SiC) epitaxial wafers in high-power and high-voltage applications. The global SiC epitaxial wafer power semiconductor market is forecast to grow at a compound annual growth rate of 40.5% from 2025 to 2029, with a total addressable market estimated at US$16 billion. The report highlighted that SiC epitaxial wafers represent one of the most value-added segments in the upstream supply chain. TY Semiconductor is the largest supplier of SiC epitaxial wafers in the Chinese market in 2024 and is among the first domestic companies capable of mass-producing 8-inch SiC epitaxial wafers, positioning it to be a primary beneficiary of this growth. Notably, TY Semiconductor recently announced a strategic cooperation agreement with EYEQ Lab Inc., a leading South Korean third-generation semiconductor company. Under the agreement, TY Semiconductor will supply EYEQ Lab with a full range of high-quality SiC epitaxial wafer products, covering specifications from 6-inch to 8-inch wafers and voltage ranges from 650V to 20,000V. These products are compatible with various unipolar and bipolar power electronic devices, meeting EYEQ Lab's R&D and mass production needs across diverse application scenarios.