Tianyue Advanced 2023 Annual Report Released

Tianyue Advanced recently released its 2023 annual report, which showed that the company achieved total operating revenue of 1.251 billion yuan, a year-on-year increase of 199.90%, mainly due to the application penetration in downstream new energy vehicles, photovoltaic power generation, energy storage and other fields, as well as the recognition of the company's high-quality silicon carbide substrates. The company's customer base continues to increase, and it has cooperated with well-known domestic and foreign companies. Among them, SiC material revenue reached 1.086 billion yuan, a year-on-year increase of 233%, and overseas sales were 411 million yuan, accounting for 37.85% of total revenue. In 2023, the sales volume of SiC substrates was 226,300 pieces, a year-on-year increase of 254.73%. In addition, the company has two SiC projects that are progressing smoothly, and has added a laser stripping R&D project.