SICC (02631) saw its shares rise more than 9% during trading, reaching a high of HK$97.30 to set a new record since its listing. At the time of writing, the stock was up 7.11% at HK$94.85, with a turnover of HK$710 million.

In 2025, SICC achieved a 27.6% global market share for conductive silicon carbide substrates, surpassing Wolfspeed to become the world's leading supplier. Notably, the company holds a dominant 51.3% market share for 8-inch silicon carbide substrates. Analysts believe that with its capability for mass production of 8-inch SiC substrates, the company is well-positioned to benefit from the industry's recovery and increasing demand.

Previous analysis has highlighted that advanced packaging technologies, such as CoWoS, have become crucial for high-bandwidth connectivity in GPU and HBM applications. However, higher thermal design power and greater interconnect spans exacerbate issues like hotspot temperature rise, coefficient of thermal expansion mismatch, and reliability concerns. Silicon carbide's properties—high thermal conductivity, rigidity, and temperature resistance—provide significant advantages in ultra-high power density packaging scenarios. Furthermore, the combination of SiC with optical waveguides is expected to emerge as a mainstream solution for next-generation smart glasses optical systems.