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joined discussion · Mar 20 08:48

IPO News | "Silicon Carbide Epitaxial Wafer Supplier" Hantian Tiancheng Launches IPO, Scheduled for Listing on March 30, Minimum Subscription Amount HKD 3,851.46

Futu Information reported on March 20 $EPIWORLD (02726.HK)$ Announcement issued: The company will conduct its IPO from March 20 to March 25, planning to offer approximately 21.4921 million shares globally, with an expected listing date of March 30.
Futu Information reported on March 20 $EPIWORLD (02726.HK)$ Announcement issued: The company will conduct its IPO from March 20 to March 25, planning to offer approximately 21.4921 million shares globally, with an expected listing date of March 30. Company Overview Hantian Tiancheng is a global leader in the silicon carbide (SiC) epitaxy industry. According to a report by灼识咨询(CIC), since 2023, the company has been the world's largest silicon carbide epitaxial supplier based on annual wafer sales volume, capturing over 30% market share in 2024. It was the first producer globally to achieve large-scale external supply of 8-inch silicon carbide epitaxial wafers and the first in China to commercialize bulk supply of 3-inch, 4-inch, 6-inch, and 8-inch silicon carbide epitaxial wafers. The company led the drafting and formulation of the world’s first and currently only industry standard for silicon carbide epitaxy under the International Semiconductor Equipment and Materials Industry Association (SEMI). The company possesses a leading-edge silicon carbide epitaxial growth technology platform. Through 14 years of dedicated research and development in silicon carbide epitaxial technology, the company has acquired specialized expertise. By adjusting and optimizing various epitaxial parameters such as growth temperature, reaction pressure, gas flow rate, and carbon-to-silicon ratio during the epitaxial growth process, the company enhances surface quality for different substrate qualities via epitaxial processes. This reduces defects introduced during epitaxial growth, improves uniformity in epitaxial layer thickness and concentration, thereby achieving stable mass production capabilities.
Company Overview
Hantian Tiancheng is a global leader in the silicon carbide (SiC) epitaxy industry. According to a report by灼识咨询(CIC), since 2023, the company has been the world's largest silicon carbide epitaxial supplier based on annual wafer sales volume, capturing over 30% market share in 2024. It was the first producer globally to achieve large-scale external supply of 8-inch silicon carbide epitaxial wafers and the first in China to commercialize bulk supply of 3-inch, 4-inch, 6-inch, and 8-inch silicon carbide epitaxial wafers. The company led the drafting and formulation of the world’s first and currently only industry standard for silicon carbide epitaxy under the International Semiconductor Equipment and Materials Industry Association (SEMI).
The company possesses a leading-edge silicon carbide epitaxial growth technology platform. Through 14 years of dedicated research and development in silicon carbide epitaxial technology, the company has acquired specialized expertise. By adjusting and optimizing various epitaxial parameters such as growth temperature, reaction pressure, gas flow rate, and carbon-to-silicon ratio during the epitaxial growth process, the company enhances surface quality for different substrate qualities via epitaxial processes. This reduces defects introduced during epitaxial growth, improves uniformity in epitaxial layer thickness and concentration, thereby achieving stable mass production capabilities.
Financial Overview
During the performance record period, Hantian Tiancheng's revenue reached RMB 440.7 million, RMB 1,142.5 million, RMB 974.3 million, RMB 808.3 million, and RMB 535.1 million for 2022, 2023, 2024, and the nine months ended September 30, 2024, and 2025, respectively. Gross profits during the same periods were RMB 196.9 million, RMB 445.4 million, RMB 332.3 million, RMB 285.7 million, and RMB 137.1 million. Net profits were RMB 127.5 million, RMB 107.5 million, RMB 165.1 million, RMB 118.4 million, and RMB 21.1 million.
Futu Information reported on March 20 $EPIWORLD (02726.HK)$ Announcement issued: The company will conduct its IPO from March 20 to March 25, planning to offer approximately 21.4921 million shares globally, with an expected listing date of March 30. Company Overview Hantian Tiancheng is a global leader in the silicon carbide (SiC) epitaxy industry. According to a report by灼识咨询(CIC), since 2023, the company has been the world's largest silicon carbide epitaxial supplier based on annual wafer sales volume, capturing over 30% market share in 2024. It was the first producer globally to achieve large-scale external supply of 8-inch silicon carbide epitaxial wafers and the first in China to commercialize bulk supply of 3-inch, 4-inch, 6-inch, and 8-inch silicon carbide epitaxial wafers. The company led the drafting and formulation of the world’s first and currently only industry standard for silicon carbide epitaxy under the International Semiconductor Equipment and Materials Industry Association (SEMI). The company possesses a leading-edge silicon carbide epitaxial growth technology platform. Through 14 years of dedicated research and development in silicon carbide epitaxial technology, the company has acquired specialized expertise. By adjusting and optimizing various epitaxial parameters such as growth temperature, reaction pressure, gas flow rate, and carbon-to-silicon ratio during the epitaxial growth process, the company enhances surface quality for different substrate qualities via epitaxial processes. This reduces defects introduced during epitaxial growth, improves uniformity in epitaxial layer thickness and concentration, thereby achieving stable mass production capabilities.
Source: Prospectus
Source: Prospectus
Use of Proceeds
Regarding the use of proceeds, Hantian Tiancheng expects to receive net proceeds of approximately HKD 1.5601 billion from the global offering (assuming the over-allotment option is not exercised, at an offer price of HKD 76.26). According to the prospectus, Hantian Tiancheng plans to allocate the proceeds from the global offering for the following purposes in the specified amounts:
Approximately 71% will be used to expand silicon carbide epitaxial wafer production capacity in a rigorous and prudent manner over the next five years to meet growing market demand; around 19% will be allocated for research and development of silicon carbide epitaxial wafers to enhance the company's technical capabilities and consolidate its technological edge; and about 10% will be utilized as working capital and for general corporate purposes.
More reading:Hanjing Tiancheng Prospectus
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Futu Information reported on March 20 $EPIWORLD (02726.HK)$ Announcement issued: The company will conduct its IPO from March 20 to March 25, planning to offer approximately 21.4921 million shares globally, with an expected listing date of March 30. Company Overview Hantian Tiancheng is a global leader in the silicon carbide (SiC) epitaxy industry. According to a report by灼识咨询(CIC), since 2023, the company has been the world's largest silicon carbide epitaxial supplier based on annual wafer sales volume, capturing over 30% market share in 2024. It was the first producer globally to achieve large-scale external supply of 8-inch silicon carbide epitaxial wafers and the first in China to commercialize bulk supply of 3-inch, 4-inch, 6-inch, and 8-inch silicon carbide epitaxial wafers. The company led the drafting and formulation of the world’s first and currently only industry standard for silicon carbide epitaxy under the International Semiconductor Equipment and Materials Industry Association (SEMI). The company possesses a leading-edge silicon carbide epitaxial growth technology platform. Through 14 years of dedicated research and development in silicon carbide epitaxial technology, the company has acquired specialized expertise. By adjusting and optimizing various epitaxial parameters such as growth temperature, reaction pressure, gas flow rate, and carbon-to-silicon ratio during the epitaxial growth process, the company enhances surface quality for different substrate qualities via epitaxial processes. This reduces defects introduced during epitaxial growth, improves uniformity in epitaxial layer thickness and concentration, thereby achieving stable mass production capabilities.
Editor/Joe
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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