SICC may be included in the Hong Kong Stock Connect next Monday, with technological leadership and capital inflow jointly shaping high growth

Zhitong
2025.09.12 13:08
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SICC is expected to be included in the Hong Kong Stock Connect next Monday, which may attract more southbound funds, enhance market liquidity, and increase the company's visibility. According to research reports from Huatai Securities and CICC, the inclusion in the Hong Kong Stock Connect will boost the popularity of the silicon carbide industry chain, potentially driving up stock prices in the short term. The company's stock price has risen over 30% since September, indicating strong market optimism about its prospects. SICC is a leader in the silicon carbide substrate field, with clients including top international semiconductor manufacturers

According to a research report released by Huatai Securities and CICC, Tianyue Advanced (02631), as a newly listed A+H company, is expected to be included in the Hong Kong Stock Connect after the price stabilization period (usually 30 days). Huatai Securities anticipates this inclusion may occur on September 15 (next Monday), while CICC expects it to happen in mid to late September. If this inclusion is realized, the company is likely to attract more southbound capital attention, enhance market liquidity, and further increase the company's visibility and attention in the capital market, which will also boost the overall heat of the silicon carbide industry chain.

From a stock price perspective, inclusion in the Hong Kong Stock Connect usually brings significant short-term benefits. Passive funds, especially ETF funds tracking related indices, will buy in for allocation needs, providing support for the stock price. Historical experience shows that adjustments to Hong Kong Stock Connect targets are often accompanied by early capital positioning, which may drive stock prices upward. In the medium to long term, the sustained performance of the stock price still depends on the company's fundamental development, but the liquidity premium and valuation reshaping opportunities brought by the Hong Kong Stock Connect are expected to gradually align the company's valuation with that of the A-share semiconductor materials sector.

From the secondary market perspective, recent market funds have already reacted, with the company's stock price soaring against the trend since September, with a cumulative increase of over 30%. On September 12 alone, the stock price once surged by 15% during the session, with the total market capitalization approaching HKD 30 billion, continuously setting new historical highs. By the close, it was still up 8.26%, closing at HKD 57.7, indicating strong market optimism about the company's prospects.

Research reports generally believe that Tianyue Advanced, as a leading company in the domestic silicon carbide substrate field, has achieved mass production of 8-inch substrates and has taken the lead in launching 12-inch substrate products, demonstrating technological leadership. In addition, its customer base includes international first-tier semiconductor manufacturers such as Infineon, Bosch, and ON Semiconductor, with products applied in electric vehicles, AI data centers, and photovoltaics, showcasing strong customer recognition and downstream expansion capabilities

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