Recently, another 4 domestic silicon carbide (SiC) enterprises have disclosed their financing progress:
Core Energy Semiconductor: Completed over CNY 100 million Series A financing, with key investments in fields such as SiC plastic-encapsulated power modules;
Silicon Microelectronics: Completed a Series B financing of hundreds of millions of CNY, and wafer packaging projects for SiC and other materials have been put into production;
FORMITEK: Completed a cumulative CNY 170 million financing, and has established the entire SiC/GaN technology industry chain;
SFFIC: Advancing a CNY 8 million angel round financing to accelerate the tape-out of 3300V and 6500V SiC chips.
1. Core Energy Semiconductor: Completed Over CNY 100 Million Series A Financing
On October 12, Hongwei Technology announced on its official WeChat account that its subsidiary, Core Energy Semiconductor Co., Ltd., has officially completed a Series A financing of over CNY 100 million. The investors include state-owned industrial capital such as the Jiangsu Changzhou New Energy Industry Special Fund of Funds and the Huatai Strategic Emerging (Changzhou) New Energy Equity Investment Fund.
Hongwei Technology stated that the financing funds will be primarily invested in capacity expansion and product innovation in the field of plastic-encapsulated power modules, helping the enterprise fully respond to the requirements of Changzhou's "6+X" future industrial system construction, and continuously strengthening its core competitiveness in the compound semiconductor track.
Founded in May 2023, Core Energy Semiconductor was jointly incubated by Hongwei Technology and Changzhou Xinbei District. It focuses on third-generation compound semiconductor plastic-encapsulated power modules based mainly on SiC and GaN, while also being compatible with Si IGBT plastic-encapsulated power modules. The company has built multiple automated production lines and achieved stable production, completing the development and scaled mass production of mainstream plastic-encapsulated modules such as DSC, SSC, SDC, Tpak, SMIT, and DIP.
Currently, the automotive-grade DSC double-sided cooling and SSC single-sided cooling plastic-encapsulated modules of Core Energy Semiconductor have been stably matched with the main drives of exported vehicle models. Compatible with Si IGBT/SiC MOSFET chips, the cumulative shipments have exceeded 3.8 million units, with revenue growing by over 18 times. They have also successfully passed the stringent automotive-grade reliability verification and on-site audits by well-known European automakers.
Meanwhile, the SMPD and DIP series products, such as OBC power modules, automotive air conditioning thermal management, and electronic suspension modules, have also achieved automated and stable supply.
The head of Core Energy stated that they will make good use of the financing funds, continuously increase R&D investment in third-generation semiconductor plastic-encapsulated power modules, expand the capacity of automated production lines, and continuously refine the reliability of automotive-grade products.
2. Silicon Microelectronics: Completed Hundreds of Millions of CNY Series B Financing
Recently, according to Chengdu Jiaotou Group, its invested enterprise Silicon Microelectronics has successfully completed a Series B financing of hundreds of millions of CNY, jointly invested by funds under Changjiang Industry Investment Group, funds under Qingshi Asset Management, and other enterprises/institutions such as Xinjieneng.
Founded in 2015, Silicon Microelectronics focuses on the field of semiconductor advanced packaging. Its current business mainly covers power semiconductors (IGBT/SiC MOSFET/power IC, etc.) and RF microwave fields, and its products are widely used in industries such as NEV (New Energy Vehicle), new energy, AI (Artificial Intelligence), automation, and consumer electronics.
Chengdu Jiaotou Group stated that this investment is based on the needs of regional industrial development and will effectively make up for the local shortcomings in capacity and technology in the field of advanced packaging, providing support for strengthening and supplementing the Chengdu IC (Integrated Circuit) industry chain and improving the industrial ecosystem.
According to public information from the Electronic Information Industry Bureau of Chengdu High-tech Zone, in April this year, the Silicon Microelectronics Chengdu base project saw the first 8-inch wafer successfully processed and rolled off the production line, and smoothly completed small-batch trial production. The project officially started plant renovation in the West High-tech Zone in October last year and officially achieved production in March this year.
The relevant person in charge of Silicon Microelectronics stated that after the completion of the Chengdu base, the company's total capacity can process and package 60,000 finished wafers per month, involving 6-12 inch wafers, including silicon-based, SiC, GaN, gallium arsenide, lithium tantalate, and other various substrate wafers; based on current orders and intended orders, it will soon reach full capacity production.
3. FORMITEK: Completed a Cumulative CNY 170 Million Financing
Recently, according to Zhejiang Economic Broadcasting, Formitek Electric (Zhoushan) Co., Ltd. (formerly known as Nanjing Xinganxian Technology Co., Ltd.) has completed a cumulative CNY 170 million financing.
FORMITEK is a high-tech power enterprise centered on third-generation power semiconductor technology, focusing on the R&D and innovation of intelligent high-power density power products, and providing professional AC/DC power supply and distribution solutions for multi-scenario applications.
Currently, FORMITEK has a dual-brand division of labor layout: Xinganxian focuses on the R&D and manufacturing of GaN and SiC power devices; FORMITEK Energy Level deeply cultivates bidirectional DCDC, energy storage converters, onboard charging, and complete ship energy storage power equipment.
FORMITEK stated that, unlike enterprises in the market that only do power supply assembly, they have established a complete industry chain from GaN/SiC chips to power modules, complete machine systems, and reliability testing, achieving independent and controllable core components. Their products cover application scenarios such as photovoltaic energy storage, NEV charging and battery swapping, and industrial and commercial microgrids.
Among them, the core product, the solid-state power supply for ocean-going ships, can save fuel costs of over CNY 1 million per year for a single ship, and batch landing verification has been completed in Zhoushan. At the same time, they are also deploying products such as bidirectional DC-DC converters and solid-state transformers, which are widely adapted to diverse scenarios such as vehicle-mounted mobile power supplies and AI data centers.
4. SFFIC Advances CNY 8 Million Angel Round Financing
Recently, according to 36Kr, Shanghai Xinfufa Technology Co., Ltd. (SFFIC) is advancing an angel round financing of CNY 8 million. The raised funds will be primarily used for multi-batch tape-outs of 3300V and 6500V high-voltage devices at wafer foundries, procurement of high-purity materials, assembly of SFFSIC7K ultra-high voltage anti-arcing probe test prototypes, and the construction of customer verification laboratories.
SFFIC was established in April 2026, and its technical solutions cover the full series of 650V-6500V SiC power devices. Specifically, SFFIC's business content covers four major sectors: first, providing a complete set of mature process solutions for planar and trench-type ultra-high voltage power devices; second, providing ultra-high voltage CP test equipment; third, providing high-voltage resistant and strong electric field resistant passivation processes; and fourth, providing technical support from device simulation, engineering tape-out, batch quality control to failure physical analysis.
According to 36Kr, SFFIC has currently established cooperative foundry production lines and set up preliminary connections with domestic mainstream automotive-grade and rail transit traction institutions. After the CNY 8 million angel round financing is in place, SFFIC will accelerate the completion of solidified tape-outs for 3300V and 6500V commercial-grade IP at cooperative foundries, accelerate the mass production and landing of high-voltage anti-arcing test equipment, and strive to achieve scaled signing of commercial contracts in the ninth month after delivery.