News

Semiconductor Industry Network News: On August 18, the third-generation semiconductor concept stocks strengthened, and the Choice Silicon Carbide Index (861369) rose by more than 4%. As of the close, the daily limit of Tianyue Advanced and Minde Electronics was 20cm; Guangpu shares rose more than 17%; Jingsheng Electromechanical rose more than 10%, setting a record high; Tony Electronics, Yuhuan CNC daily limit; YOFC, Sanan Optoelectronics, Core Guide Technology, China Ceramic Electronics, Roshow Technology followed suit.

Light and car accelerated penetration of SiC or will usher in the "fastest growth" for three years

From the perspective of downstream terminal applications, the main application fields of SiC include new energy vehicles, photovoltaics, and industry. Founder Securities believes that in the era of new energy, SiC is about to usher in its "singularity moment" of cost performance.

This is also reflected in the list of STMicroelectronics SiC business customers. In early July, the company's CEO revealed in an interview that the Chinese manufacturers it cooperates with include: BYD, Geely, Great Wall, Hyundai, Xiaopeng and other OEMs, as well as Delta, Huawei , Huichuan Technology, Quanta, Xinrui Technology, Sunshine Power, Weimax New Energy, etc. The SiC business is expected to achieve its $1 billion revenue target next year

New energy vehicles and charging piles have already begun to carry SiC components, and judging from the recent statements of industry manufacturers, the photovoltaic industry has also begun to increase the application of SiC. E.g,

Roshow Technology stated in the survey summary disclosed on July 28 that at present, the 6-inch conductive substrate for photovoltaic inverters is in short supply. It is expected that prices will be difficult to fall within 1-2 years, and may even rise.

Jinlang Technology has promoted SiC to replace IGBT in diode and MOSFET devices. And a lot of SiC devices have been ordered next year, and almost all product series will be used.

New Clean Energy previously stated that it plans to send samples to photovoltaic inverter customers to try SiC MOSFET products in the second half of the year.

In general, with the rapid growth of terminal shipments in key industries such as new energy vehicles and photovoltaics, and the rising penetration rate of SiC, CICC expects that SiC devices are expected to usher in the fastest three-year cycle from 2022 to 2024.

According to the report of Industrial Securities on August 17, the global market space for 6-inch SiC wafers for new energy vehicles will reach 14.3 billion yuan in 2025; 4.45 billion yuan in demand increment.

Although local SiC suppliers started late, thanks to the increase in the market share of local brands of new energy vehicles and photovoltaic inverters, analysts believe that domestic companies have gained entry opportunities and are expected to benefit from rapid technological iteration and capacity expansion .

Under the outbreak of demand, the supply gap has been further opened, and the substrate is a key bottleneck for the production capacity of SiC devices.

According to CICC's calculations, driven by new energy vehicles and photovoltaic applications, the supply of conductive substrates still restricts the rapid development of the SiC device market before 8-inch SiC wafers are widely popularized.

Founder Securities estimates that the global effective production capacity of SiC substrates in 2026 will be 3.3 million pieces, which is still far from the demand for 6.29 million pieces of substrates in the same year. Before a stable and high-yield large-scale shipment is formed in the industry, the entire industry will continue to be in short supply.

Other SiC-related events this month

On the 17th, Gaoyi Group, which has the second largest market share of silicon carbide (SiC) substrates in the world, announced that it has signed a US$100 million supply order with Dongguan Tianyu Semiconductor to supply the latter with 6-inch SiC substrates, starting this quarter. Delivery by the end of 2023.

On the same day, Wolfspeed, which has the largest market share of SiC substrates in the world, announced that its revenue in the fourth fiscal quarter of this year reached US$229 million, a year-on-year increase of 56.7%. The company also raised its 2026 revenue forecast by 30%-40% from the $2.1 billion target it proposed at the end of last year.

On the 16th, Great Wall Holding Group signed a strategic cooperation agreement with Xishan Economic and Technological Development Zone, Jiangsu Province, and the third-generation semiconductor module packaging and testing manufacturing base project of Great Wall Motor's Honeycomb E-Chuang landed in Xishan Economic and Technological Development Zone.

On the 13th, Jingsheng Electromechanical announced that it has successfully developed an 8-inch N-type silicon carbide crystal.

On the 12th, ON Semiconductor's new SiC plant in New Hampshire, USA was inaugurated. Through this plant, ON Semiconductor's SiC wafer production capacity will increase by 5 times year-on-year by the end of 2022.

Article source: "Science and Technology Innovation Board Daily"