On July 27, China's leading silicon carbide substrate manufacturer: SDTY Advanced Electronic Materials Technology Group successfully listed on the Shanghai Stock Exchange.
According to statistics from consulting agency Yole, SDTY has ranked among the top three in the world in the semi-insulating silicon carbide substrate market in 2019 and 2020, and semi-insulating silicon carbide substrates have achieved import substitution.
Since the 2008 "Wassenaar Agreement" clearly restricts semi-insulating silicon carbide substrate materials, the procurement of semi-insulating silicon carbide substrates in China is mainly imported through other channels. Therefore, before 2017, semi-insulating silicon carbide substrates were mainly occupied by overseas companies such as American Cree and II.
SDTY achieved the mass production capacity of 4-inch semi-insulating silicon carbide substrates in 2015. And in 2017, it began to ship and verify small batches to the major leading customer customer A in the downstream industry. In January 2018, it passed its verification and began to place orders in batches. Since then, the company passed the certification of major customers in the downstream industry and obtained large quantities of orders.
Its largest customer's purchase of SDTY semi-insulating silicon carbide substrates rose from 68.1142 million to 190 million yuan; its second largest customer's purchase of semi-insulating silicon carbide substrates from the company rose from 1.4821 million to 140 million Yuan.
"The main customers stated that the company's products have achieved import substitution. After the realization of import substitution, the company's global market share of semi-insulating silicon carbide substrates has increased from 18% in 2019 to 30% in 2020. It is China's semi-insulating The main supplier of type silicon carbide substrates".
The production plan for the 6-inch semi-insulating silicon carbide substrate developed by SDTY will be formulated according to the downstream industry and customer demand for 6-inch products, and mass production is expected to be formed in 2023.
At present, SDTY's production capacity is mainly used to digest the demand for semi-insulating silicon carbide substrates. Therefore, there is not enough production capacity to release to the conductive silicon carbide substrate market, which is an essential material for epitaxial production of silicon carbide power devices. Market space huge.
In this IPO, SDTY plans to invest all the 2.5 billion raised funds in the silicon carbide semiconductor material project. The project is mainly used to produce 6-inch conductive silicon carbide substrate materials. It is expected to reach 100% production in 2026 and will add carbonization. The production capacity of silicon substrate materials is about 300,000 pieces/year.