SICC (02631) surged nearly 4% during trading sessions. As of press time, the stock gained 3.17% to HK$44.88 with a turnover of HK$82.93 million.

On the news front, SICC recently announced its 2025 interim results, reporting total revenue of approximately RMB794 million, down 12.98% year-over-year. R&D expenses reached approximately RMB75.85 million, up 34.94% compared to the same period last year. Net profit attributable to shareholders was approximately RMB10.88 million, with earnings per share of RMB0.03.

According to the announcement, the increase in R&D spending was primarily allocated to technical breakthroughs in large-size substrate products and expansion into emerging applications such as AR glasses. The revenue decline was mainly attributed to the company's continued efforts to enhance market penetration of silicon carbide substrate materials in downstream applications and increase market share, resulting in year-over-year price reductions for substrate sales.

The group has strategically positioned itself ahead in the silicon carbide substrate product matrix. The group's 8-inch conductive substrate products lead in quality and mass production capabilities, making it one of the few global market participants capable of mass shipment of 8-inch silicon carbide substrates, continuously driving leading customers to actively transition to 8-inch products.

Currently, the group has established a 6/8/12-inch silicon carbide substrate product matrix, including 12-inch high-purity semi-insulating silicon carbide substrates, 12-inch conductive P-type, and 12-inch conductive N-type silicon carbide substrates. As the silicon carbide industry comprehensively enters the "12-inch new era," the group will leverage ultra-large size technology and products as a fulcrum to continue deep cultivation of the blue ocean market for silicon carbide semiconductor materials.

Additionally, SICC stated on the interactive platform that the company remains committed to building close collaborative ecosystems with customers and suppliers to jointly promote the development of the silicon carbide industry. From cooperation results, the company has currently established business partnerships with more than half of the world's top ten power semiconductor device manufacturers (based on 2024 revenue). The company's customers, Infineon and ON Semiconductor, have successfully entered the supply chains of industry giants such as NVIDIA, becoming important components of AI computing infrastructure.