In the first half of the year, SICC achieved revenue of approximately 794 million yuan, with continued increases in R&D investment, leading industry innovation in silicon carbide technology

According to the Zhitong Finance APP, SICC (02631) announced its interim results for 2025, achieving total revenue of approximately 794 million yuan, a year-on-year decrease of about 12.98%; R&D expenditure of approximately 75.85 million yuan, a year-on-year increase of about 34.94%; and a net profit attributable to shareholders of the listed company of approximately 10.88 million yuan, with earnings per share of 0.03 yuan.

The announcement stated that the increase in R&D expenditure was mainly used for technological breakthroughs in large-size substrate products and the expansion into emerging application fields such as AR glasses. The decrease in revenue was primarily due to the company's efforts to continuously increase the penetration of silicon carbide substrate materials in downstream applications and improve the market share of its products, leading to a year-on-year decline in substrate sales prices.

In the first half of 2025, the group continued to enhance the production capacity and output of its core products. The production capacity and output of the group's Jinan factory steadily advanced through technological and process improvements, while the Shanghai Lingang factory achieved its annual production capacity planning of 300,000 conductive substrates ahead of schedule by mid-2024. Currently, the second phase of the capacity enhancement plan is underway, with the combined designed capacity of the two factories exceeding 400,000 pieces.

The group has achieved quality and mass supply of 8-inch conductive substrate products. As of the end of the reporting period, the group has established business cooperation relationships with more than half of the top ten power semiconductor device manufacturers globally, further improving its customer system. The group continues to explore customers in emerging fields such as optics and has established partnerships with leading optical manufacturers globally, securing multiple orders related to the sales of silicon carbide substrate products in the optical field.

The group has made advanced layouts in the silicon carbide substrate product matrix. The group's quality and mass supply capability for 8-inch conductive substrate products is leading, making it one of the few market participants capable of mass shipping 8-inch silicon carbide substrates, continuously encouraging leading customers to actively transition to 8-inch.

Currently, the group has formed a product matrix for 6/8/12-inch silicon carbide substrates, including 12-inch high-purity semi-insulating silicon carbide substrates, 12-inch conductive P-type, and 12-inch conductive N-type silicon carbide substrates. As the silicon carbide industry fully enters the "12-inch new era," the group will leverage ultra-large size technology and products as a pivot to continue deepening its exploration of the blue ocean market for silicon carbide semiconductor materials