SMM News: recently, the first domestic independent design and development, domestic 6-inch production line manufacturing silicon carbide (SiC) MOSFET in Shanghai Lingang released. Shanghai Zhanxin Electronics Technology Co., Ltd. (hereinafter referred to as "Zhanxin Electronics") has completed 130 million yuan of financing this year, of which Liba shares (603519.SH) invested 60 million yuan in Zhanxin Electronics through a fund with partners, holding 9.23%, becoming a new shareholder.
Zhanxin Electronics releases its first domestic 6-inch SiC MOSFET
As Zhan Core's SiC MOSFET products with completely independent intellectual property rights have passed the industrial specification certification and released, Zhan Core has successfully become one of the mainstream industrial grade SiC MOSFET power device manufacturers in China. The release of this product has filled the domestic gap, and the product performance has reached the international advanced level. Zhan Core Electronics has also become the first company in China to independently develop and master 6-inch SiC MOSFET products and process platforms.
Silicon carbide is one of the main materials of the third generation semiconductors. when used in products, silicon carbide has the advantages of miniaturizing equipment, increasing switching speed and greatly reducing power consumption. Therefore, Zhanxin Electronics self-research 6-inch SiC products and achieve mass production, domestic replacement, and then reduce the corresponding cost of downstream enterprises is of great significance.
At present, Zhan Core Electronics provides power conversion solutions based on SiC power devices, SiC/SiMOSFET driver chips and SiC modules. Downstream enterprises are involved in wind energy inverter, photovoltaic inverter, industrial power supply, new energy vehicles, motor drives, charging piles and other fields.
At the end of 2019, Zhanxin's silicon carbide diode product line passed the 002851.SZ certification and launched a small batch verification trial production. After half a year of production practice, in September 2020, Magmet agreed that the product series of Zhanxin Electronics can gradually replace imported devices on the charging module product line and enter the stage of batch procurement.
IHS Market, a consultancy, predicts that the market for SiC power devices will reach 70 billion yuan by 2027 and will require 6 million 6-inch SiC wafers. Chen Jian, COO of Zhanxin Electronics, said at the new product conference that Zhanxin's three-year plan is expected to achieve a market size of 3 billion yuan for 10 amperes and 20 amperes in March 2023.
Liba Co., Ltd. Cheng Zhanxin Electronics New shareholders
Recently, Zhanxin A+ round financing has been completed, Wind data show that the financing amount reached 130 million yuan, the introduction of Ningde era, BAIC and other strong industrial chain strategic investors. Among them, listed company Liba shares (603519.SH) invested 60 million yuan in Zhanxin through a fund with partners in August this year, accounting for 9.23% of Zhanxin's total registered capital after this round of capital increase.
The entry of Liba shares is not a hasty move. Previously, 002851.SZ, a listed company of Zhanxin's downstream customers, invested 21.5 million yuan as an angel wheel investor as early as 2017, holding 10.75% of Zhanxin.
Standing in the tuyere of the third-generation semiconductor industry, with excellent self-developed products, and with the support of Magmet, Liba shares, Ningde era, BAIC production and Investment Industry strategic investors and professional investment team, the development prospect of Zhanxin Electronics is worthy of market expectation.
Strategic partners help Liba shares transform and upgrade
Yancheng Oriental, the new second shareholder of Liba shares, has a wealth of successful experience in semiconductor project investment, which also provides a direction for Liba shares to invest in high-quality semiconductor targets. Liba shares is a home appliance appearance composite supplier for well-known home appliance enterprises at home and abroad. It was listed on the Shanghai main board in 2015 and achieved year-on-year growth in business income and net profit from 2015 to 2019. In June 2019, after Yancheng Oriental became the second shareholder of Liba shares, the investment vision of Liba shares began to turn to the semiconductor industry. At the end of 2019, Liba shares took a stake in Tuojing Technology, the leading semiconductor coating equipment in China, becoming the fourth largest shareholder of the latter, and joined Zhanxin Electronics in August this year.
Public data show that Yancheng Oriental Yancheng state-owned enterprises began to pay attention to the implementation of equity investment projects in the semiconductor industry as early as 2016. At present, three investment projects have landed on the Kechuang board, two projects are being reported, and a number of projects are preparing to be listed on the stock market. Of the 50 listed companies in the Kechuang 50 Index, the group has invested in 3. At present, it has withdrawn from the 1/3 investment in the micro semiconductor project, with a net income of 570 million yuan, with a return of more than 15 times; the investment in the "king of profits of Science and Technology Innovation Board"-Lanqi science and technology project, currently has a floating profit of as high as 509%; plus Tuojing technology, the project is planning to declare the company's pioneering board.
It is worth noting that Linxin Investment, which is leading Liba share investment in Tuojing Technology and Zhanxin Electronics, has cooperated with Yancheng Oriental for many times and is a well-known investment management organization in the field of integrated circuits in China. Up to now, Linxin Investment has invested in nearly 10 successful IPO, integrated circuit projects, including Lan Qi Technology, China Micro and Micro shares, Dike shares, Xinyuan Micro, Xinjie Micro, and so on. There are also a number of projects in the IPO process. Recently, Linxin Investment was awarded many honors, such as "Top 10 Investment institutions in China Semiconductor Industry in Qingke 2019", "TOP10 in China's Best Advanced Manufacturing Industry Investment in 2019", "China's Best return Venture Capital firm TOP10 in 2019", "China's Best Private Equity Investor in 2019" and so on.
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