Benefiting from the new energy vehicle and photovoltaic industry, the main business of domestic IGBT module leader 603290.SH has achieved steady growth in all segments of the industry. IGBT is one of the fastest growing power semiconductor devices at present. According to Jibang Consulting, China's IGBT market will reach 52.2 billion yuan by 2025, with an annual compound growth rate of 19.11%.
In the field of new energy vehicles, the company has added a number of fixed-point main motor controllers for 800V systems using full SiC MOSFET modules, which are expected to continue from 2022 to 2028, Shen Hua, the company's chairman, said at a semi-annual performance presentation in 2021. The company's all-silicon carbide power module industrialization project has begun construction and mass supply, which is expected to start in 2022.
Shen Hua mentioned that in the field of photovoltaic power generation, the company's modules and discrete devices using independent IGBT chips have been installed in large quantities in domestic mainstream photovoltaic inverter manufacturers. "it is expected that the product revenue of the company's photovoltaic inverters will continue to increase rapidly." It is understood that the company will continue to increase the application of all kinds of SiC modules in the photovoltaic industry.
In terms of revenue in the first half of the year, Starr semiconducting IGBT products performed most prominently in the field of new energy applications, with revenue reaching 180 million yuan, a sharp increase of 162.9 percent over the same period last year. The company produces a total of more than 200000 new energy vehicles in the first half of the year, and the total number of IGBT modules used in the main motor controller has been completed for the whole year of 2020. The 650V/750V IGBT chip based on the sixth generation Trench Field Stop technology and the matching fast recovery diode chip have significantly increased the utilization rate in the new energy vehicle industry, which will also promote the sales growth of the company's new energy vehicle IGBT module from 2023 to 2029.
Zhang Zhe, the company's chief executive, added that the company's products above 160kw have been loaded and running in large quantities, and that many mainstream brands of new energy vehicles in China are using the company's IGBT module.
According to Southwest Securities Research report, the company's current product line includes 600V-3300V voltage range of IGBT modules, as well as planar, FS-Trench and other IGBT products, downstream customers include Huichuan, Inviton, Shanghai Electric Drive and other high-quality customers. At present, the market share of the company's IGBT module has reached 2.5%, and the domestic market share of new energy vehicles has reached 14.6%.
The reporter noticed that under the tide of "lack of core", Starr semiconductors expanded its production capacity and proposed to raise 3.5 billion yuan for the research and development and industrialization of high-voltage characteristic process power chips and SiC chips respectively. After the completion of the project, the production capacity will reach 300000 pieces of 6-inch high-voltage characteristic process power chips and 60, 000 pieces of 6-inch SiC chips per year, and the power semiconductor module production line will increase production capacity of 4 million chips / year.
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