HK Stock Market Move | TIANYU SEMI (02658) surged more than 11% in early trading. The company has reached a strategic cooperation around SiC epitaxial wafers with South Korean company EYEQ Lab.

TIANYU SEMI (02658) rose more than 11% in the morning trading session, and as of the time of this report, it was up by 10.63% to 54.1 Hong Kong dollars, with a trading volume of 13.5692 million Hong Kong dollars. On the news front, TIANYU SEMI recently announced a strategic cooperation agreement with the well-known South Korean semiconductor manufacturer EYEQ Lab. According to the announcement, TIANYU SEMI will provide high-quality SiC epitaxial wafers covering specifications from 6 to 8 inches and from 650V to 20,000V for use in both unipolar and bipolar power electronic devices to EYEQ Lab. EYEQ Lab will have priority in purchasing the silicon carbide epitaxial wafers provided by TIANYU SEMI under the same conditions. The agreement is valid for three years. The Board of Directors believes that the strategic cooperation with EYEQ Lab is in the overall interests of the company and its shareholders, and it is beneficial to drive the long-term development of the group. Both parties will leverage their respective strengths relying on the group's industrial capabilities and scale advantages in the field of silicon carbide epitaxial wafers, and combining EYEQ Lab's technical expertise in the design and manufacturing of SiC power devices to jointly build a long-term stable supply and demand synergy system. This move aims to accelerate the large-scale commercial application of the group's products, help both parties expand market space, and further consolidate the group's competitive position in the global semiconductor industry chain.