Tianyu Semiconductor submits listing application to the Hong Kong Stock Exchange and expects to return to profitability in the second half of the year

Guangdong Tianyu Semiconductor Co., Ltd. submitted an application for listing to the Hong Kong Stock Exchange on December 23. Tianyu Semiconductor is a world-leading supplier of silicon carbide epitaxial wafers with a production base in Dongguan City, Guangdong Province. Tianyu Semiconductor has a global epitaxial wafer market share of about 15%, ranking among the top three in the world. The company has attracted investments from BYD, Hubble Technology, Dazhong Industry, and China-Belgium Fund. From 2021 to 2023, the company's revenue was 155 million yuan, 437 million yuan, and 1.171 billion yuan, respectively, while net profit was -180 million yuan, 2.814 million yuan, and 95.882 million yuan, respectively. Although the company made a profit in 2022, it suffered losses again in the first half of 2024, with operating income of 361 million yuan and a loss of 141 million yuan. Tianyu Semiconductor said this was mainly due to the decline in the market prices of silicon carbide epitaxial wafers and substrates, as well as the impact of international trade tensions.