On October 10, Ningbo Deye Technology Co., Ltd. held its 2027 Global Supplier Conference. As a leading domestic inverter manufacturer, Deye is actively adopting silicon carbide (SiC) technology and has already achieved product implementation.
During the conference, Deye also disclosed multiple key pieces of information, with two major highlights worthy of industry attention:
Procurement demand for 2027 is expected to exceed CNY 18 billion, with core materials including power devices and other multiple categories;
Deye has already cooperated with multiple SiC vendors, including Sanan Bandaoti, Lingrui Bandaoti, Paienjie Bandaoti, Huarunwei, Wolfspeed, etc.
01. 2027 Procurement Demand to Exceed CNY 18 Billion, Inverter Capacity to Reach 680,000 Units/Month
Recently, vendors such as Anfeili and Guangtai Yongli successively released statements announcing their joint participation in Deye's Global Supplier Conference. At the meeting, Deye disclosed multiple core data points covering procurement demand, capacity planning, and cumulative sales, sending a clear signal of sustained growth over the next three years to the supply chain.
Procurement Demand: Exceeding CNY 18 billion in 2027, with a CAGR of 66.8% from 2024 to 2027
Deye estimates that its annual procurement demand in 2027 will exceed CNY 18 billion, with a procurement compound annual growth rate (CAGR) of up to 66.8% from 2024 to 2027. Core materials cover multiple categories including battery cells, magnetic devices, power devices, capacitors and resistors, IC chips, PCBs and board-level auxiliary materials, structural parts, and wire harnesses.
Capacity and Sales: Global cumulative sales exceed 9 million units, with clear monthly capacity planning for 2027
In terms of sales, Deye's global cumulative sales of inverters and energy storage battery packs have reached over 9 million units. In the first half of 2026 alone, the company sold a total of 1.153 million inverters.
Regarding capacity, Deye expects to achieve over 30% growth in shipments and capacity next year. Specifically, the inverter capacity plan for 2027 is 680,000 units per month, and the energy storage battery pack capacity plan is 600,000 units per month.
Financial Performance: Inverter revenue in H1 2026 grew 94.09% year-on-year
In the first half of 2026, Deye's inverter products generated operating revenue of approximately CNY 5.132 billion, accounting for 48.36% of the company's total operating revenue, a year-on-year increase of 94.09%. Meanwhile, Deye also predicts that the capacity of the entire distributed photovoltaic market is expected to leap from 704GW to nearly 1500GW over the next five years, with market space gradually expanding.
Alongside the simultaneous high growth in procurement demand, capacity planning, and financial performance, Deye is also accelerating its SiC technology upgrades.
Public information shows that Deye, founded in August 2000, is a globalized PV and energy storage product manufacturer listed on the Shanghai Stock Exchange and currently advancing its listing on the Hong Kong Stock Exchange. The company covers two major business segments: new energy and environmental appliances, with the new energy segment including various inverters and energy storage battery pack products.
Deye revealed in its Hong Kong stock prospectus that it is transitioning its inverter products from traditional second-generation semiconductor technology to third-generation SiC semiconductor technology, thereby further reducing manufacturing costs and improving conversion efficiency.
According to observations from 'Hangjia Shuo Sandaiban', Deye's adoption of SiC technology has entered the implementation stage. On the one hand, the sixth-generation residential low-voltage energy storage inverter SG06 series launched by Deye extensively utilizes SiC materials; on the other hand, they are developing scalable and parallelable solid-state transformer solutions with power coverage from 1.25MW to 5MW, which are also expected to adopt SiC technology in the future.
This means that as Deye continuously increases its procurement demand and capacity planning, its demand for core materials such as SiC power devices, magnetic devices, and battery cells is expected to grow simultaneously. Especially against the backdrop of accelerating iteration of inverter products to SiC technology and the gradual advancement of new applications like solid-state transformers, this will provide new incremental space for the SiC industry chain.
02. Cooperating with Multiple SiC Vendors to Advance Penetration in the PV and Energy Storage Industry
'Hangjia Shuo Sandaiban' found that Deye disclosed a partial list of cooperating vendors at the conference. Additionally, multiple enterprises are already working closely with it, including several SiC vendors.
Sanan Guangdian revealed in its 2025 annual report that it maintains deep cooperation with leading customers such as Yangguang Dianyuan, Gudewei, Jinlang, Guruiwate, Shangneng, Aishiwei, and Deye in the PV and energy storage field, with continuous and stable batch delivery of SiC SBDs and MOSFETs.
Sanan Bandaoti mainly engages in the R&D, design, manufacturing, sales, and services of wide-bandgap semiconductors. It has taken the lead in building a SiC full-industry-chain vertical integration manufacturing service platform. Its products and services include SiC MOSFET/SBD, SiC substrates/epitaxial wafers, and automotive-grade SiC power module foundry services, serving over 1,000 customers globally.
Currently, Sanan Bandaoti has co-compiled the '2026 Silicon Carbide (SiC) Devices and Modules Industry Research White Paper'. As a research unit, it will continue to promote technical exchanges and ecosystem construction in the SiC industry.
At this conference, Lingrui Bandaoti won the [Frontier Innovation Award] presented by Deye. It is reported that Lingrui Bandaoti has been deeply engaged in the high-performance and high-reliability SiC MOS track and has conducted deep collaboration with Deye.
Founded in 2022, Lingrui Bandaoti focuses on the R&D and sales of high-performance and high-reliability chips and devices for third-generation semiconductor SiC. Its products are widely used in industries such as electric vehicles, charging piles, PV, energy storage, data centers, and power grids.
Huarunwei Microelectronics once revealed in its financial report that it has increased customer expansion efforts in new energy fields such as PV inverters and frequency converters, resulting in an increased market share. Its products have entered key customers including Yangguang Dianyuan, Deye, and Inovance.
Huarunwei Microelectronics is a semiconductor enterprise with full-industry-chain integrated operation capabilities including chip design, mask manufacturing, wafer manufacturing, and packaging and testing. Currently, Huarunwei Microelectronics is advancing its third-generation wide-bandgap semiconductor business layout. SiC MOS has achieved batch supply for commercial vehicle main drives and high-power fast charging modules, and SiC JBS products have achieved stable delivery, widely used in fields such as PV inversion, energy storage, and charging piles.
On October 10, Paienjie Bandaoti released a statement indicating that, as a long-term strategic partner of Deye, it was invited to attend the conference and was honored with the 'Frontier Innovation Award' title among Deye's suppliers, thanks to its stable delivery and collaborative cooperation in the field of SiC power devices.
Founded in September 2018, Paienjie Bandaoti, as a third-generation semiconductor power device design and solution provider, has mass-produced over a hundred 650V/1200V/1700V SiC SBD and SiC MOSFET products, with simultaneous layout of the GaN HEMT series. Among them, SiC MOSFET chips have been introduced on a large scale into new energy passenger vehicles and Tier-1 power platforms.
Changjing Keji is a comprehensive semiconductor enterprise operating in parallel with both Fabless and IDM models. Its main products cover various semiconductor products such as discrete devices including SiC MOS, SiC SBD, MOSFET, and IGBT, PMIC (Power Management IC), and discrete device wafers. From 2023 to 2025, Changjing Keji's operating revenues were CNY 2.260 billion, CNY 2.678 billion, and CNY 2.985 billion, respectively.
In September this year, Changjing Keji officially submitted its prospectus, planning to list on the Main Board of the Shenzhen Stock Exchange. According to the prospectus, Changjing Keji plans to raise CNY 1.4904 billion to fund projects such as the construction of 'MOSFET, IGBT, and third-generation semiconductor technology R&D'.
Shenzhen Vergiga Semiconductor Co., Ltd. was founded in 2012, focusing on the R&D of power devices and application technology research. Its products cover traditional silicon-based and third-generation compound semiconductors SiC and GaN, and are widely used in fields such as consumer power supplies, automotive electronics, motor drives, industrial power supplies, and communications.
Wolfspeed is an American company focusing on wide-bandgap semiconductors. Formerly known as Cree, it was renamed in 2021 and is headquartered in Durham, North Carolina. The company's core business focuses on SiC materials and power devices, providing SiC materials, power modules, discrete power devices, and bare die power products for various applications.
Texas Instruments (TI), founded in 1930 and headquartered in Dallas, USA, is a global leader in analog and embedded processing chips. TI began investing in GaN R&D in 2010 and launched mass-produced GaN devices in 2016. To verify long-term reliability, TI has conducted cumulative reliability tests of over 80 million hours on its GaN FETs, as well as cumulative power conversion application scenario tests of over 5GWh. These devices have also been widely deployed in industrial and automotive applications.
MinebeaMitsumi Group, founded in 1951, has now laid out multiple business segments including precision technology, semiconductors, and automotive electronics. In June 2024, MinebeaMitsumi announced the completion of a 100% equity acquisition of Hitachi Power Semiconductor, a subsidiary of Hitachi, Ltd., and renamed it Minebea Power Devices Company. Through this, it obtained a complete IGBT and SiC power semiconductor business line, including front-end processes, back-end packaging, and module production capabilities.
Toshiba Electronic Devices & Storage Corporation is a supplier of semiconductor and storage solutions, providing discrete semiconductors, system LSIs, and HDD products. It now has annual sales exceeding JPY 797.1 billion (USD 4.96 billion). Currently, Toshiba Electronics can provide multiple SiC products, including 1200V industrial-grade SiC MOSFET half-bridge modules.
From the above vendor list, it can be seen that Deye's SiC supply chain has covered key links from SiC chips to power modules. As a leading manufacturer, Deye's actions serve as a demonstration and will accelerate the application pace of SiC in the PV and energy storage field.