Company Overview: A leading global manufacturer of silicon carbide materials

Tianyue Advanced was founded in November 2010, led by its founder Mr. Zong Yanmin. Its main business is the research and development, production, and sales of silicon carbide (SiC) semiconductor materials, covering two core product series: conductive and semi insulating SiC substrates

Conductive silicon carbide substrate: widely used in power device fields such as new energy vehicle main drive inverters, high-voltage fast charging systems, photovoltaic inverters, etc;

Semi insulating substrate: mainly used in RF front-end scenarios such as 5G base stations, high-frequency communication, and RF power devices.

As of the first quarter of 2025, the company has established dual base production systems in Shandong and Shanghai, with an annual designed production capacity of over 400000 silicon carbide substrates and achieving full commercial coverage from 2 inches to 8 inches. It is one of the first companies in the world to complete the research and development of 12 inch substrates.

Market position: ranked second globally, with significant advantages in patented technology

According to Frost&Sullivan's data, based on the sales revenue of silicon carbide substrates in 2023, Tianyue Advanced ranks second in the world with a market share of 16.7%, second only to Wolfspeed in the United States, becoming an important player in the global SiC substrate industry.

The company has obtained a total of 502 authorized patents, including 194 invention patents;

The overseas patent layout is active, with 14 invention patents coming from regions outside mainland China;

Ranked among the top five in terms of the number of global silicon carbide invention patents held.

In addition, the company has established stable cooperative relationships with more than half of the top ten power semiconductor manufacturers worldwide. Its substrate products have entered the supply chain systems of multiple international mainstream device manufacturers, and end applications cover fields such as electric vehicles, photovoltaics, AI servers, and power management systems.

Industry prospects: Silicon carbide substrate market welcomes high-speed growth period

According to Frost&Sullivan's prediction, the global silicon carbide substrate market size (in terms of sales) will grow from 3 billion yuan in 2020 to 8.8 billion yuan in 2024, with a compound annual growth rate of 29.9%. Looking ahead to 2030, the market size is expected to further expand to 58.5 billion yuan, with a compound annual growth rate of 37.1%, and the SiC industry entering a rapid expansion cycle.

Conclusion: Core players of domestic SiC substrates step onto the international capital stage

Against the backdrop of the global trend of third-generation semiconductors and the convergence of China's independent and controllable industrial chain strategy, Tianyue Advanced's recent hearing by the Hong Kong Stock Exchange marks an important step towards the global capital market. In the future, Tianyue is expected to continue expanding its global market share in the strategic material field of silicon carbide with its leading technological capabilities, comprehensive production capacity system, and diversified customer structure, and promoting China's semiconductor materials to enter the mainstream system of the world.