SICC (02631) surged more than 6% in early trading, with gains narrowing to 5.33% by press time, trading at HK$49 and recording a turnover of HK$64.21 million. Reports indicate that NVIDIA plans to adopt 12-inch silicon carbide (SiC) substrates in advanced packaging for its next-generation GPU chips, with implementation expected by 2027 at the latest. Additionally, the penetration rate of domestic 800V high-voltage platform models in the new energy sector has climbed to 42% within six months, with models like Xiaomi's YU7 and BYD's full-range 1000V architecture driving a surge in demand for automotive-grade SiC. China's new energy vehicle SiC usage is projected to reach 8 million units by 2025. Huaxi Securities notes that if CoWoS replaces interposers with SiC and follows a 35% compound growth rate post-2028 with 70% SiC substitution, demand could exceed 2.3 million 12-inch SiC substrates by 2030, equivalent to 9.2 million 6-inch substrates—far exceeding current production capacity. Mainland China's SiC industry holds advantages in investment scale, production costs, and downstream support, positioning it for significant future benefits. Public data shows SICC as a global leader in SiC substrates, having successfully developed 12-inch semi-insulating/conductive substrates and entered NVIDIA's packaging supply chain.