With the rapid outbreak of downstream markets such as new energy vehicles, photovoltaics, energy storage, and charging piles, China's SiC industry has grown rapidly, and the hot track has attracted the pursuit of capital. Recently, SiC-related companies have received refinancing.
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+2 for the number of financing companies
On April 2, Huizhi Angel Fund announced that its investment company, Cuijin Semiconductor, has completed an angel round of financing of tens of millions of yuan. According to reports, this round of financing was led by Shanghai Gimpo Investment, and the funds obtained were mainly used for the construction of Cuijin Semiconductor's SiC production line, equipment purchase and replenishment of working capital.
Source: Cuijin Semiconductor
It is reported that Cuijin Semiconductor specializes in the research and development, production, sales and application services of power devices, and its products mainly include SiC MOSFETs in the range of 600V - 2200V, silicon-based superjunction Si SJ MOSFETs and other discrete devices, which are mainly used in scenarios and fields such as new energy fast charging piles, photovoltaics, energy storage, wind power, industrial drives, and new energy passenger vehicles.
In terms of projects, in January 2023, Cuijin Semiconductor's annual output of 1.2 million medium and high power semiconductor device products project started. With a total investment of 650 million yuan, the project plans to build a semiconductor device production plant, including SiC modules.
Coincidentally, Anjian Semiconductor announced today (8) that its C1 round of financing of more than 200 million yuan has been successfully concluded. Anjian Semiconductor pointed out that the financing will be mainly used to develop and mass-produce automotive-grade IGBT and SiC MOS product platforms, expand automotive-grade IGBT and SiC module packaging production lines, expand sales and other talent teams, and increase operating cash flow reserves.
It is reported that Anjian Semiconductor is a high-tech company specializing in the design, R&D and sales of power semiconductor components, and has realized the mass production of three product lines of IGBT, SGT-MOS and SJ-MOS, and has launched a 1200V-17mΩ SiC MOSFET with completely independent property rights, and is simultaneously building a SiC module packaging production line and developing a new generation of GaN technology and products.
Source: Anjian Semiconductor
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In 2024, there have been 23 cases
According to incomplete statistics from TrendForce Compound Semiconductors, the SiC track has been hot since 2024, and there have been 23 SiC-related financing events.
As far as the financing amount is known, a total of seven companies, Anjian Semiconductor, China Machinery New Materials, Sirui Intelligence, Boya New Materials, Bopai Semiconductor, CRRC Times Semiconductor, and Yiwen Technology, have raised more than 100 million yuan, accounting for about 31.82%.
Among them, the largest financing scale is CRRC Times Semiconductor, with a financing amount of 630 million yuan. It is reported that CRRC Times Semiconductor is a wholly-owned subsidiary of Times Electric, and is one of the few IDM (integrated design and manufacturing) model enterprises in the world that has mastered the technology of high-power thyristors, IGCT, IGBT and SiC devices and their components.
Yiwen Technology received 500 million yuan in financing. The company has formed a product series with etching process equipment and thin film deposition process equipment as the core, which are mainly used in the semiconductor front-end process stage, especially in the characteristic process fields led by silicon carbide, gallium nitride and other compound semiconductor processing.
In 2023, Yiwen Technology will receive a total of nearly 800 million orders. At present, the equipment of Yiwen Technology has entered well-known domestic enterprises and scientific research institutes such as Tyco Tianrun, San'an Optoelectronics, Jita Semiconductor, BYD Semiconductor, CETC, Institute of Microelectronics of Chinese Academy of Sciences, and Internet of Things Innovation Center.
It is worth mentioning that Yiwen Technology is now in the IPO counseling period. On the other hand, Boya New Materials is also planning to go public with Yiwen Technology. In August 2023, Boya New Materials will be registered with the Sichuan Securities Regulatory Bureau for listing counseling, and plans to make an initial public offering of shares and list on A-shares.
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epilogue
Materials, Devices, Power Devices, Substrates/Epitaxy, Chip Design...... The types of financing enterprises cover almost the entire SiC industry chain.
The enthusiasm of capital will promote the further improvement of the local supply chain, and China's SiC industry is growing rapidly. However, it is worth noting that international companies have a first-mover advantage in the field of silicon carbide, and Chinese companies still need to invest in production capacity and technology in order to continue to strengthen China's market position in the field of silicon carbide.
Source: TrendForce Compound Semiconductors
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