On 5 December 2025, Guangdong Tianyu Semiconductor Co., Ltd. (Tianyu Semi, 2658.HK) successfully listed on the Main Board of the Hong Kong Stock Exchange (HKEx), raising a total of approximately HKD 1,744 million. CBI is honored to participate in the due diligence work for this IPO Project.

Tianyu Semi is a China-based company primarily engaged in the production and sales of silicon carbide (SiC) epitaxial wafers. The Company’s main products include 4-inch, 6-inch and 8-inch SiC epitaxial wafers, which are mainly used in new energy industries, rail transportation, smart grids, general aviation and home appliances.

In this IPO project, CBI primarily assisted the sponsor team in conducting due diligence on the company group, its directors, senior management, shareholders, customers and suppliers. In addition to the basic information such as litigation, bankruptcy, winding-up and media records, CBI also assisted the sponsor team in conducting reference checks, reputation intelligence and related company searches. The due diligence project globally covered 5 countries and regions, including China, Hong Kong, South Korea, the United Kingdom, and Russia.