On the evening of October 29th, Tianyue Advanced released its third quarter report for 2024, which showed that the company's operating revenue for the first three quarters was 1.281 billion yuan, a year-on-year increase of 55.34%; Net profit attributable to the parent company was 143 million yuan; Deducting non attributable net profit of 135 million yuan; Basic earnings per share of 0.33 yuan. The revenue and net profit scale in the first three quarters have exceeded last year's total.

In the third quarter, Tianyue Advanced achieved a total operating revenue of 369 million yuan, a year-on-year decrease of 4.60% and a month on month decrease of 24.10%; The net profit attributable to the parent company was 41.1437 million yuan, a year-on-year increase of 982.08% and a month on month decrease of 26.25%; Deducting non recurring net profit of 39.199 million yuan, a year-on-year increase of 1193.48% and a month on month decrease of 25.50%.

The report points out that the sustained growth in performance is due to the company's rapid development in the conductive silicon carbide substrate business, cooperation with international top manufacturers, and advantages in automotive grade products, which have driven Tianyue Advanced's revenue scale in the first three quarters of 2024 to surpass that of the full year of 2023, with net profit turning losses into profits and maintaining growth.

Tianyue Advanced is a technology-based enterprise specializing in the research and development, production, and sales of silicon carbide single crystal substrate materials. With favorable industry opportunities, Tianyue Advanced has accelerated its production capacity construction and significantly increased its business scale. The company has been expanding its production capacity since 2022, relying on independent innovation and achieving significant results.

According to Fuji Economic, an authoritative industry research institution in Japan, in 2023, in the global market share ranking of conductive silicon carbide substrate materials, Tianyue Advanced (SICC) jumped to the top three in the world, showing strong growth momentum. Compared to the first three quarters of 2022, the company's operating scale has expanded by approximately five times.

Silicon based semiconductors belong to the forefront emerging field of important semiconductor sub sectors, especially the successful application of silicon carbide technology in electric vehicles, which drives the expansion of silicon carbide applications in other fields. The company stated that in the future, it will seize the development opportunities of the silicon carbide industry and actively occupy the high ground and winning points of industrial development.