Tianyue Advanced passed the listing hearing of the Hong Kong Stock Exchange

Tianyue Advanced completed its listing hearing on the Hong Kong Stock Exchange on July 31st and updated its prospectus. According to the updated prospectus, Tianyue Advanced's total revenue is projected to be approximately 417 million yuan, 1.251 billion yuan, 1.768 billion yuan, and 408 million yuan in 2022, 2024, and the first three months of 2025, respectively. Sales of silicon carbide substrates will account for 78.2%, 86.8%, 83.3%, and 80.7% of total revenue, respectively.