First day of the IPO | Tianyu Semiconductor (02658) was first listed and opened down 34.48% in early trading. The company is a manufacturer of silicon carbide epitaxial wafers

The Zhitong Finance App learned that Tianyu Semiconductor (02658) was first listed. According to the announcement, the price was HK$58 per share. A total of 3.705 million shares were issued, 50 shares in each lot, with a net proceeds of about HK$1,673 billion. As of press release, it decreased by 34.48% to HK$38, with a turnover of HK$573.36 million.

According to public information, Tianyu Semiconductor is the largest manufacturer of silicon carbide epitaxial wafers in China. Based on revenue and sales volume generated in the Chinese market in 2024, Tianyu Semiconductor's market shares are 30.6% and 32.5%, respectively. Furthermore, as of the end of May this year, Tianyu Semiconductor had an annual production capacity of about 420,000 pieces of 6-inch and 8-inch epitaxial films. It is also one of the companies with the highest production capacity in this field in China.

On the financial side, revenue for 2022, 2023, and 2024 was 437 million yuan, 1,171 million yuan, and 520 million yuan respectively. After net profit increased from 2,814 million yuan to 95.882 million yuan, it turned into a loss of 500 million yuan in 2024; revenue for the first 5 months of 2025 was 257 million yuan, down 13.6% year on year, achieving net profit of 9.515 million yuan, reversing the net loss situation in 2024.