I. Introduction to the SiC Industry Chain
As illustrated, the SiC industry chain can be broadly divided into upstream materials, midstream device design, manufacturing, and packaging & testing, and downstream applications. The cost proportion of each segment is as follows: Substrate 45-50%, epitaxy 20-25%, device manufacturing (including design) approximately 20%, and packaging & testing approximately 5%.
Image source: Tianrun Semiconductor
II. Profiles of Selected Unlisted Companies in Various Segments
1. Professional / Multi-Stage IDM Manufacturers
(1) Global Energy Interconnection Research Institute, State Grid (GEIRI)
[Company Profile]: As a core research institution directly under the State Grid, it is the national team for the R&D of high-voltage and high-power SiC semiconductors in power systems, playing a leading role in the process of achieving autonomous and controllable grid-level high-voltage and high-power devices. [Core Technology]: Mastered the design and specialty manufacturing technologies for ultra-high voltage (3300V-6500V and above) and high-reliability SiC MOSFETs and diodes, and conquered the special packaging for high-power and high-voltage withstand, as well as the multi-layer direct liquid cooling high-efficiency heat dissipation process. [Main Products]: Grid-level ultra-high voltage SiC MOSFET devices (3300V, 4500V, and 6500V), high-frequency SiC diodes, and high-power SiC power modules for flexible HVDC transmission. [Market Competitiveness]: Leveraging the robust UHV technology and platform resources directly from the State Grid, its products are directly targeted at monopolistic and high-threshold scenarios such as national UHV power transmission and transformation, and flexible HVDC transmission in smart grids, possessing extremely strong barriers to entry and technical qualification.
(2) BYD Semiconductor
[Company Profile]: A core power semiconductor subsidiary under BYD Group, it is a pioneer in the full industry chain vertical integration (IDM) of automotive-grade SiC power devices in China. [Core Technology]: Successfully conquered the 1500V automotive-grade high-power SiC power chips adapted for kilovolt high-voltage architectures, and independently developed high-voltage platform double-sided silver sintering SiC modules, adopting 5nH low stray inductance, nano-silver sintering process, and high-temperature plastic packaging, supporting a 200°C operating junction temperature. [Main Products]: 1500V automotive-grade high-power SiC power chips, high-voltage platform double-sided silver sintering automotive-grade SiC power modules, automotive-grade MCUs (Microcontroller Units), and IGBT power devices. [Market Competitiveness]: By 2026, the self-supply rate of total SiC capacity will exceed 70%; upon full production of the Jinan project, the annual output will reach 360,000 wafers, supporting approximately 900,000 NEVs (New Energy Vehicles). The full-chain cost is significantly compressed compared to overseas, possessing a unique capacity and cost moat in China.
(3) Founder Microelectronics
[Company Profile]: A wafer foundry and manufacturer focusing on automotive-grade and industrial control power semiconductors, it is a key specialty foundry in China that took the lead in mass production and vehicle installation of automotive-grade main drive SiC MOSFETs. [Core Technology]: Mastered advanced 6/8-inch automotive-grade SiC wafer tape-out processes, possessing fully automated intelligent manufacturing systems and scaled manufacturing technologies for automotive-grade main drive SiC MOSFET chips. [Main Products]: 6-inch and 8-inch SiC power wafer foundry services, automotive-grade main drive SiC MOSFET chips, and high-power main drive power modules. [Market Competitiveness]: The FIB1 factory has a monthly capacity of 14,000 6-inch wafers; the FIB2 pilot line has a monthly capacity of 3,000 8-inch wafers, and the mass production line compatible with 6/8-inch has a monthly capacity of 9,000 wafers. The annual capacity is expected to reach 500,000 wafers by 2026. It has achieved large-scale vehicle installation, becoming a core manufacturing enterprise ranking at the forefront of SiC MOSFET passenger vehicle main drive installation volume in China.
(4) Tianrun Semiconductor
[Company Profile]: One of the first leading IDM manufacturers in China to realize the industrialization of SiC power devices, dedicated to the R&D, scaled manufacturing, and provision of high-reliability application solutions for third-generation semiconductor SiC devices. [Core Technology]: Fully mastered the design and manufacturing processes for the full series of 650V-3300V and above SiC SBDs and MOSFET chips, possessing two independently operated wafer production lines in Beijing and Liuyang, Hunan. [Main Products]: SiC diodes, SiC MOSFET discrete devices, and high-reliability power modules across various voltage levels from 650V to 3300V and above. [Market Competitiveness]: Possesses full-process IDM chip and device manufacturing guarantee capabilities. Products are widely used in vehicle OBCs, high-voltage charging piles, industrial inverters, and new energy inverters, boasting up to 13 years of large-scale mass production experience and a solid supply chain barrier.
(5) YASC
[Company Profile]: A giant dedicated to the construction of integrated bases for third-generation semiconductor SiC chip epitaxial growth, wafer manufacturing, and advanced power packaging & testing foundry services. [Core Technology]: Built an internationally top-tier SiC wafer tape-out production line, mastering independent and advanced high-efficiency epitaxy, wafer ion implantation, low-stress dicing, grinding, and polishing, as well as module-level advanced power packaging & testing processes. [Main Products]: 6-inch and 8-inch SiC power diodes, MOSFET wafer tape-out, and high-strength SiC half-bridge power modules. [Market Competitiveness]: The ultra-large advanced production base located in Optics Valley Science Island, Wuhan, has been officially put into production, with the first 6-inch wafer rolled off the line. The project is continuously expanding its capacity scale, significantly increasing domestic automotive-grade and industrial-grade foundry tape-out capacity, forming an irreplaceable scaled manufacturing barrier.
2. Substrate Manufacturers
(1) TanKeBlue (Under IPO Review)
[Company Profile]: The absolute leader in the domestic conductive SiC substrate market, focusing on the R&D and industrialization of large-size, high-crystalline-quality SiC single-crystal materials. [Core Technology]: Successfully developed 8-inch conductive SiC single-crystal substrates (with a diameter of up to 209mm), achieving 100% 4H polytype, an XRD FWHM of less than 20 arcsec, and extremely excellent Raman spectroscopy indicators. [Main Products]: 6-inch and 8-inch conductive and semi-insulating SiC single-crystal ingots and epitaxial-grade substrate wafers. [Market Competitiveness]: The total planned capacity reaches 500,000 to 800,000 pieces (including 8-inch); cumulative shipments have reached the million-piece level, and 8-inch substrates have secured small to medium batch orders from multiple leading domestic and foreign epitaxy giants, occupying a key market share in the 8-inch generational transition.
(2) SICC
[Company Profile]: The SiC substrate industrialization platform under CETC (China Electronics Technology Group Corporation), it is a domestic leader with top-tier technical strength in SiC single-crystal substrates and specialty equipment manufacturing. [Core Technology]: Took the lead in conquering the dislocation defect control technology for 8-inch SiC single-crystal substrates, successfully realizing the scaled preparation of 8-inch conductive 4H-SiC single crystals with near "zero threading screw dislocation" (TSD) density and low basal plane dislocation (BPD) density. [Main Products]: 4/6/8-inch conductive and semi-insulating SiC single-crystal substrates, high-purity SiC polycrystalline powder, and supporting crystal growth induction equipment. [Market Competitiveness]: With the Taiyuan base as the core, the second-phase project will add 300,000 pieces/year of 6-8-inch capacity upon completion, propelling the total capacity to the top three globally, possessing strong advantages in autonomous and controllable equipment and internal industrial chain synergy within the group.
(3) Tongguang Crystal (Under IPO Review)
[Company Profile]: A high-tech enterprise specializing in the R&D and production of high-crystalline-quality SiC single-crystal substrates, ranking in the first tier in the process of autonomous core materials for wide bandgap semiconductors. [Core Technology]: Mastered the PVT method SiC single-crystal growth process with completely independent intellectual property rights, conquering high-yield control during the crystal growth stage, ultra-low defect density control, and low-damage polishing processing. [Main Products]: 4/6/8-inch high-quality conductive and semi-insulating SiC single-crystal substrates and high-precision polished wafers. [Market Competitiveness]: Currently under IPO review, the expanded capacity of the Baoding and Laiyuan bases is continuously being released. Products have successfully entered the supply chains of many domestic mainstream epitaxy and high-reliability device tape-out giants.
(4) CETC Compound Semiconductor
[Company Profile]: A material manufacturer dedicated to the R&D and industrialization of high-end epitaxial materials for third-generation semiconductors SiC and GaN, playing a core positioning role in the autonomous supply of materials. [Core Technology]: Mastered precise large-size CVD epitaxial growth technology, reaching international first-class levels in stress balance control from substrate to epitaxy, ultra-low epitaxial surface defect density, and precise doping control. [Main Products]: 6-inch and 8-inch SiC epitaxial wafers for power applications, and SiC-based GaN epitaxial wafers for power/RF devices. [Market Competitiveness]: Rapidly advancing 8-inch technology validation and capacity construction; relying on high stability and excellent performance, it deeply cooperates with domestic mainstream specialty foundries and design giants, occupying a core position in the large-size epitaxy foundry supply chain.
(5) Nansha Wafer
[Company Profile]: An enterprise focusing on the R&D and mass production of large-size, high-performance SiC single-crystal substrates, with technical indicators ranking in the first tier domestically. [Core Technology]: Mastered advanced PVT method single-crystal growth and high-efficiency ultra-flat polishing processes. Its 8-inch substrate products have reached world-advanced levels in various key technical parameters and uniformity indicators. [Main Products]: 6-inch and 8-inch conductive and semi-insulating SiC single-crystal substrates and polished wafer slices. [Market Competitiveness]: In 2024, the 8-inch project at the Jinan base was officially put into production with an annual capacity of 50,000 pieces. In 2025, it is planned to significantly increase the 8-inch capacity to 500,000 pieces, forming a synergy among Guangzhou, Zhongshan, and Jinan, aiming to build the largest 8-inch SiC substrate production base in China.
(6) Beijing Lattice Domain
[Company Profile]: A forward-looking innovative leading enterprise in the industrialization of liquid phase method (LPE) SiC single-crystal substrates in China, dedicated to solving the thickness and defect density bottlenecks of the traditional PVT method. [Core Technology]: Mastered the core technology of liquid phase method (LPE) SiC single-crystal growth with independent intellectual property rights, effectively improving crystal crystallization quality, and breaking through the difficulties in growing high-quality 4H-p-type and 3C-n-type cubic SiC single crystals. [Main Products]: 4-8-inch p-type and 4-6-inch 3C-n-type cubic SiC single-crystal substrates and polished wafers. [Market Competitiveness]: A 4-6-inch liquid phase method pilot line has been built, and the 6-8-inch liquid phase method pilot line will be completed in 2025. By providing differentiated high-performance P-type and 3C-type special substrates, it effectively fills the domestic technological gap and establishes a strong patent barrier in segmented materials.
(7) Zhenjing Semiconductor
[Company Profile]: A high-growth semiconductor material enterprise focusing on the R&D and mass production of high-end, large-size, high-quality SiC single-crystal substrates. [Core Technology]: Deeply engaged in the precise design of thermal and temperature fields for PVT method crystal growth, conquering the ultra-low dislocation large-area single-crystal growth process, as well as high-efficiency crack-free cutting, grinding, and polishing of large-size crystals. [Main Products]: 6-inch and 8-inch conductive and semi-insulating high-quality SiC single-crystal substrate wafers. [Market Competitiveness]: Based on its breakthroughs in the consistency of high-end large-size single-crystal growth and low defect density control, it is inferred that its products are rapidly passing quality validation by several top-tier domestic automotive-grade power device foundries, showing strong growth potential in the import substitution of 6/8-inch high-end materials.
(8) Keyou Semiconductor
[Company Profile]: A closed-loop high-tech material enterprise integrating the R&D of core SiC crystal growth equipment, process development, and substrate manufacturing. [Core Technology]: Independently developed compatible crystal growth equipment, conquering the multi-field fine control and precise defect control in extreme environments of 2300°C high temperature and vacuum degree better than 8x10^-5 mbar. [Main Products]: Compatible SiC crystal physical growth equipment, 6/8-inch conductive and semi-insulating SiC single-crystal substrates. [Market Competitiveness]: The 8-inch capacity in 2025 is 5,000 pieces/year, with 100% self-developed equipment. The second phase is planned to expand to tens of thousands of pieces; self-developed crystal growth equipment significantly reduces capital expenditure for capacity expansion, building a strong cost and process collaboration barrier.
(9) Chaoxinxing Semiconductor
[Company Profile]: An innovative material manufacturer led by returned power semiconductor material experts, taking the lead in China to achieve batch exports of large-size, high-purity SiC substrates. [Core Technology]: Core mastery of PVT method large-size high-purity crystal growth, low-stress crack-free cutting, ultra-low dislocation density control for large wafers, and surface atomic-level flat processing technology. [Main Products]: 6-inch and 8-inch high-quality conductive and semi-insulating SiC single-crystal polished substrate wafers. [Market Competitiveness]: Took the lead in China to achieve scaled shipments of large-size substrates. It is the only domestic large-size SiC substrate supplier that has entered the pre-installation supply chain of international first-tier power device major customers, occupying an excellent market export position during the global generational transition.
3. Epitaxy Manufacturers
(1) CETC New Materials
[Company Profile]: A high-end wide bandgap semiconductor epitaxial material industrial platform under CETC, possessing strong group-level support in the core chain of automotive-grade and high-voltage grid-level SiC epitaxy. [Core Technology]: Mastered the core process of rapid chemical vapor deposition (CVD) growth for large-size automotive-grade SiC epitaxial layers with low defects, high thickness, and high doping concentration uniformity. [Main Products]: 6-inch and 8-inch high-quality automotive-grade and high-voltage grid-level SiC epitaxial wafers for power devices. [Market Competitiveness]: Relying on the seamless integration advantages of the full industry chain of CETC, it has extremely smooth downstream core device foundry validation channels and is rapidly advancing the scaled validation and capacity construction of 8-inch epitaxy technology.
(2) Puxing Electronics
[Company Profile]: Controlled by the 13th Institute of CETC, it is a leading domestic semiconductor epitaxial material industrialization manufacturer with top-tier construction scale and technical level. [Core Technology]: Possesses mature multi-wafer CVD epitaxial growth key processes, ranking at the top of the industry in large-thickness, high-concentration doping precise control, low-stress deposition, and apparent defect suppression technology. [Main Products]: 6-inch and 8-inch automotive-grade/industrial control-grade high-quality SiC power epitaxial wafers, and multi-specification silicon-based epitaxial wafers. [Market Competitiveness]: Taking 8-inch as the core direction for epitaxial generational growth, it has an extremely large epitaxial capacity layout. It deeply cooperates with well-known domestic and foreign device tape-out giants and IDM manufacturers, establishing an extremely solid supply barrier in the field of high-end epitaxial material supporting.
4. Device Design Manufacturers (Including Fab-lite Model)
(1) Jingneng Microelectronics
[Company Profile]: A core automotive-grade power semiconductor enterprise incubated under the Geely Capital ecosystem, focusing on providing high-reliability power chips and advanced modules for main drive inverters of mainstream passenger vehicles. [Core Technology]: Mastered advanced packaging and heat dissipation technologies for automotive-grade high-power SiC modules, conquering the high heat dissipation pin-fin structure design and multi-layer nano-silver sintering process. [Main Products]: 750V and 1200V automotive-grade main drive SiC MOSFET power modules, and high-frequency automotive-grade discrete devices. [Market Competitiveness]: Based on the whole vehicle macro-ecosystem of the major shareholder Geely Holding Group, its SiC main drive modules are directly locked in for pre-installation in multiple main models, crossing the extremely long preliminary validation threshold of conventional automotive-grade chips, possessing massive vehicle installation scale and shipment growth rate.
(2) UAES
[Company Profile]: A domestic giant in the passenger vehicle powertrain and electronic control system industry, it is a top-tier system integration supplier of automotive-grade high-power main drive SiC power modules and electric drive systems. [Core Technology]: Introduced and innovated Bosch's advanced automotive-grade power electronic packaging and electronic control architecture, mastering the core processes of ultra-low stray inductance thermal field design, laser welding, and high-strength, high-reliability nano-silver sintering. [Main Products]: 1200V high power density automotive-grade main drive SiC power modules, highly integrated "multi-in-one" electric drive systems, and high-performance automotive-grade main drive inverters. [Market Competitiveness]: Possesses strong control in the passenger vehicle main drive inverter and whole vehicle control system market. Its main drive SiC electronic control system and module solutions have obtained mass production design wins for dozens of mainstream pre-installation whole vehicle projects in China, with extremely high system integration and brand barriers.
(3) Siko Semiconductor
[Company Profile]: A professional supplier focusing on the design of automotive-grade high power density SiC power chips and high-reliability module packaging & testing. [Core Technology]: Proficient in the structural design of high-performance automotive-grade planar gate and new trench gate SiC MOSFETs, mastering the packaging technologies for multiple high heat dissipation and low inductance SiC discrete devices and half-bridge modules. [Main Products]: 1200V series automotive-grade SiC MOSFET chips, high-current automotive-grade power discrete devices, and customized high-power half-bridge modules. [Market Competitiveness]: Based on its deeply bound automakers and high-power Tier 1 component ecosystem resources, products are accelerating the passage of automotive-grade AEC-Q101 testing and rapidly integrating into the mainstream whole vehicle powertrain supply chain.
(4) WeEn Semiconductors
[Company Profile]: A global leading power semiconductor enterprise jointly established by Jianguang Asset and NXP, operating with a highly efficient Fab-lite model. [Core Technology]: Integrating NXP's decades of accumulation in chip-level electromagnetic shielding, electrical performance protection, and multi-layer metallization packaging processes, it masters the design of high-quality SiC MOSFETs and diodes with ultra-low on-resistance and extremely short reverse recovery time. [Main Products]: 650V/1200V/1700V high-reliability SiC diodes (SBD), high-voltage SiC MOSFET discrete devices, and customized power modules. [Market Competitiveness]: The sales channel network spans the globe. Its SiC diodes rank among the top in global market share, supplying in large quantities to global first-tier PV inverter giants, vehicle OBCs, and high-end industrial control inverters, with prominent global competitive advantages.
(5) The 55th Institute of CETC
[Company Profile]: The main force of the national team in the field of power semiconductors under CETC, it is the domestic leader with the deepest heritage and strongest strength in the integration of SiC design, tape-out, and packaging & testing. [Core Technology]: Fully mastered the design and manufacturing processes for automotive-grade and high-voltage grid-level SiC MOSFET/SBD chips, possessing independently built and stably mass-produced 6/8-inch automotive-grade tape-out and advanced packaging & testing lines for power modules. [Main Products]: 650V-6500V automotive-grade and industrial-grade high-power SiC MOSFET chips, and high-power automotive-grade main drive SiC power modules. [Market Competitiveness]: It is one of the very few domestic backbone units that have successfully achieved scaled vehicle installation of independently designed SiC chips and main drive modules, accumulating long-term safe operation experience. It is strategically positioned in the UHV DC grid, high-speed rail transit, and domestic mainstream passenger vehicle supply chains.
(6) Xinjuneng
[Company Profile]: An industry pioneer enterprise focusing on the R&D, design, and packaging & testing manufacturing of automotive-grade high-power SiC power devices and modules. It is bound with AscenPower to form a virtual IDM model. [Core Technology]: Mastered advanced packaging technologies for automotive-grade main drive power modules with low inductance and high heat dissipation, conquering leading processes such as double-sided nano-silver sintering, full plastic packaging injection molding, and high-efficiency fluid direct cooling pin-fin. [Main Products]: 1200V automotive-grade APD series high-power main drive SiC power modules, and automotive-grade and industrial-grade high-blocking discrete devices. [Market Competitiveness]: Its independently developed and packaged 1200V main drive SiC power modules have achieved large-scale vehicle installation in multiple pre-installation projects for domestic and overseas high-end models such as Geely Thor electric drive and Smart. Cumulative shipments have reached the hundred-thousand-set level, ranking at the top of domestic automotive-grade main drive module shipments.
(7) InventChip
[Company Profile]: The first domestic high-tech enterprise to independently R&D and mass-produce SiC MOSFETs, dedicated to providing customers with one-stop system application solutions of "SiC chips + driver chips". [Core Technology]: Core mastery of the design and manufacturing processes for planar gate and new trench gate automotive-grade SiC MOSFETs with independent intellectual property rights, and independently conquered the design of supporting high-frequency and high-voltage SiC dedicated gate driver chips. [Main Products]: 650V-1700V conductive SiC MOSFETs, high-frequency high-blocking SiC SBDs, and self-developed high-parameter dedicated gate driver ICs. [Market Competitiveness]: The first domestic design manufacturer to break through the "MOSFET + driver chip" collaborative solution, it has cumulatively shipped tens of millions of pieces in vehicle OBC/DCDC, high-power PV and energy storage, and charging systems, building a strong technology and system-level supporting barrier.
(8) Xingan Electronics
[Company Profile]: A high-growth enterprise focusing on the R&D and design of SiC MOSFET power chips and module solution packaging & testing. [Core Technology]: Mastered the precise design of SiC MOSFET cells and terminals with high consistency and high avalanche ruggedness, conquering ultra-low warpage wafer dicing and polishing, and high-reliability heat dissipation lead packaging. [Main Products]: 1200V/1700V conductive high-frequency SiC MOSFET discrete devices and high-reliability power half-bridge modules. [Market Competitiveness]: Focusing on PV and energy storage inverter systems and new energy high-power charging piles, relying on its excellent low impedance, low dynamic loss, and high reliability, it has rapidly achieved batch design wins at domestic hundred-billion-level energy storage and PV+storage major customers.
(9) PN Junction Semiconductor
[Company Profile]: A high-tech enterprise led by a well-known team of returned experts, focusing on the design of high-quality SiC power semiconductor chips with leading specific on-resistance. [Core Technology]: Mastered the design of high-voltage low specific on-resistance trench gate and planar gate SiC MOSFETs with ultra-high cell density, achieving extremely high gate capacitance matching and ultra-low dynamic loss. [Main Products]: 650V/1200V/1700V/3300V full-series automotive-grade SiC MOSFETs, and high-frequency high-blocking SiC SBDs. [Market Competitiveness]: The core indicators of its products compete directly with international giants. The automotive-grade MOSFETs have passed AEC-Q101 certification and successfully entered in large quantities the pre-installation vehicle power supply systems of well-known domestic automakers and high-power PV inverter giants, with significant export competitiveness.
(10) AccoPower
[Company Profile]: A national high-tech enterprise and a specialized, refined, differential, and innovation "Little Giant" enterprise, focusing on the R&D of SiC MOSFET power chips, module design, and advanced packaging & testing. [Core Technology]: Mastered domestically leading SiC MOSFET core design and packaging processes, conquering high heat dissipation multi-layer nano-silver sintering and wide-temperature high-current electromagnetic shielding design. [Main Products]: 1200V/1700V automotive-grade and industrial control-grade high-power SiC MOSFET chips, and high-performance plastic packaged and potting half-bridge modules. [Market Competitiveness]: Possesses closed-loop R&D and packaging & testing capabilities with completely autonomous and controllable chips and modules. Product applications cover high-barrier and high-load scenarios such as new energy heavy trucks, rail transit, smart microgrids, and high-power charging piles.
(11) Lipulse Semiconductor
[Company Profile]: An international technology design enterprise dedicated to the R&D of automotive-grade and industrial control high-power SiC modules and high-density advanced packaging. [Core Technology]: Pioneered the "Arc-M" wire-free 3D packaging module connection technology, adopting high-performance double-sided thermocompression welding and nano-silver sintering matching processes, greatly reducing inductance and thermal resistance. [Main Products]: 750V/1200V automotive-grade three-phase full-bridge SiC main drive power modules, and industrial-grade high-voltage, high-power, high-current SiC modules. [Market Competitiveness]: Through the layout of collaborative dual R&D centers in Japan and China, its core main drive SiC modules have achieved mass production and vehicle installation in multiple passenger vehicle inverter projects and high-power hydrogen fuel DCDCs at home and abroad, successfully integrating into the pre-installation supply chains of Japan, South Korea, and Europe.
(12) SiChain
[Company Profile]: A leading domestic enterprise focusing on the R&D of high-reliability SiC power devices and MOSFET design, and the industrialization of main drive power modules. [Core Technology]: Mastered the core design of 1200V/1700V high junction temperature ultra-high cell density planar gate SiC MOSFETs, possessing excellent specific on-resistance and high avalanche ruggedness energy efficiency. [Main Products]: 650V-1700V high-frequency low specific on-resistance SiC MOSFETs, and 1200V automotive-grade high-power main drive power modules. [Market Competitiveness]: The 1200V main drive MOSFET chips have achieved mass production and large-scale vehicle installation in the new energy passenger vehicle main drive inverter market. The vehicle installation volume of main drive chips from domestic brands ranks at the forefront, and the market share in high-barrier scenarios such as high-power PV and vehicle power supplies is extremely high. In 2026, it won the mass production design win for the main drive of an international first-tier automaker's overseas projects, ranking at the forefront of global market expansion.
(13) Flying Semiconductor
[Company Profile]: A high-tech design company dedicated to the R&D and mass production of third-generation semiconductor SiC power diodes and MOSFET devices. [Core Technology]: Mastered high-blocking and low-impedance automotive-grade SiC SBD and high-frequency MOSFET processes. Multiple automotive-grade MOSFETs have successfully passed AEC-Q101 certification and 960V high-voltage H3TRB severe temperature and humidity testing. [Main Products]: 650V and 1200V specification automotive-grade SiC MOSFETs, low-loss SiC diodes, and full SiC power modules. [Market Competitiveness]: Automotive-grade products have fully achieved scaled mass production, with batch shipments supplied to domestic vehicle charging (OBC), vehicle high-voltage DC-DC, vehicle high-frequency inverter power supply, and leading PV power generation inverter system enterprises.
(14) Hanxin Technology
[Company Profile]: A senior domestic power semiconductor design manufacturer with completely independent intellectual property rights for high-power SiC devices and extremely profound experience in industrial control and vehicle applications. [Core Technology]: Core possession of multiple generations of independent SiC MOSFET patents and high-level process control flows, mastering low-impedance gate design, high-current current sharing, and superior short-circuit protection mechanisms. [Main Products]: 650V/1200V/1700V full-series high-reliability SiC diodes and SiC MOSFET discrete devices. [Market Competitiveness]: Shipped hundreds of thousands of pieces/units in large quantities in fields such as PV inverters, vehicle chargers, and high-power DC fast charging. It possesses extremely stable long-cycle and long-term operation performance, with strong supply chain stickiness to major customers.
(15) Top Electronics
[Company Profile]: An innovative high-tech enterprise focusing on the R&D of third-generation semiconductor SiC power chips, and the design and sales of high-power electronic control modules. [Core Technology]: Possesses independent SiC MOSFET high junction temperature and high-blocking cell design, and provides complete system-level topology adaptation technical solutions in the fields of high-frequency PV and energy storage inversion, and vehicle bidirectional power supplies. [Main Products]: 650V-1700V high-reliability SiC diodes, SiC MOSFET discrete devices, and high-strength packaged modules. [Market Competitiveness]: Deeply penetrated domestic mid-to-high-end distributed PV, energy storage, and charging inverter electronic control core major customers. Relying on the advantages of flexible and efficient solution-level customized development, it has achieved significant growth in the mainstream new energy market.
(16) Cuizhan Microelectronics
[Company Profile]: A national-level specialized, refined, differential, and innovation enterprise focusing on the R&D of new energy passenger vehicle-grade power semiconductor modules, high-precision packaging & testing, and electric drive system applications. [Core Technology]: Mastered highly automated and highly consistent power module packaging processes, conquering core processes such as low-inductance high-current wiring topology, high-energy nano-silver sintering, and direct fluid cooling pin-fin heat dissipation. [Main Products]: 1200V automotive-grade high-power new energy passenger vehicle main drive SiC modules, and high-consistency automotive-grade power discrete devices. [Market Competitiveness]: It has independently built a highly intelligent fully automated production and packaging & testing base for automotive-grade modules, and has successfully won design wins for pre-installation electric drive systems from multiple leading domestic new energy OEMs, building an extremely solid capacity moat.
5. Foundry Manufacturing Manufacturers
(1) GTA Semiconductor
[Company Profile]: The main foundry platform under Huada Semiconductor, it is a leading domestic wafer manufacturing base specializing in automotive-grade power wafer manufacturing and specialty process tape-out. [Core Technology]: Established an extremely strict IATF16949 automotive-grade quality control process, fully mastering the core technologies of specialty tape-out processes and electrical control for 6/8-inch automotive-grade SiC SBDs and MOSFETs. [Main Products]: 6-inch and 8-inch high-consistency SiC SBD and SiC MOSFET power wafer specialty foundry tape-out services. [Market Competitiveness]: As a key carrier of domestic automotive-grade power semiconductor manufacturing, its foundry capacity has long been locked by mainstream designers and automakers through dedicated line bookings, possessing an incomparable supply chain master control position and foundry discourse power.
(2) AscenPower
[Company Profile]: The first domestic leading foundry manufacturer dedicated to providing fully open and full-process automotive-grade and industrial-grade high-power SiC chip foundry manufacturing. It is bound with Xinjuneng to form a virtual IDM model. [Core Technology]: Established and successfully ran an internationally leading 6/8-inch automotive-grade SiC process foundry platform, proficient in the specialty processes of multi-generation planar gate and trench gate SiC MOSFET/SBD production and manufacturing, possessing top-tier supporting equipment such as high-energy ion implantation. [Main Products]: 6-inch and 8-inch automotive-grade/industrial-grade SiC MOSFET and SBD wafer foundry tape-out and customized process development. [Market Competitiveness]: The first phase has built an annual foundry capacity of 240,000 6-inch SiC wafers, and the 8-inch tape-out production line has been quickly ramped up. The high crystallization yield of product tape-out has passed deep engineering validation by dozens of leading domestic design companies and automakers, and has achieved large-scale mass production and vehicle installation.
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