Tianyu Semiconductor, invested by Huawei and BYD, is heading for IPO

Guangdong Tianyu Semiconductor Co., Ltd. (hereinafter referred to as Tianyu Semiconductor), China's first technologically advanced professional silicon carbide epitaxial wafer supplier, has submitted an application for listing to the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor. Tianyu Semiconductor's market share in China's silicon carbide epitaxial wafer market will reach 38.8% (in terms of revenue) and 38.6% (in terms of sales) in 2023, becoming one of the top three epitaxial wafer suppliers in the world. The company has raised a total of 1.464 billion yuan in the past three years, becoming a super unicorn in Dongguan, with investors including Huawei, BYD, etc.