Company at a glance
Scale
Revenue up 17% since FY2023
Growth prospects
Expanding customer base and product roadmap
6-inch commercial qualification and 8-inch transition are the key topology markers for SiC substrates.All sourced facts (8)
- Headquarters: Jinan, Shandong, China
- Listing status: Shanghai Stock Exchange STAR Market · 688234 · A-share common stock
- Listing: Listed on the Shanghai STAR Market as 688234.
- Core material: Silicon-carbide substrate wafers for power electronics and RF applications.
- Diameter watch: 6-inch commercial qualification and 8-inch transition are the key topology markers for SiC substrates.
- Application pull: EV traction inverters, charging, industrial power, solar/storage, rail, and RF infrastructure drive substrate demand.
- Global reference set: Wolfspeed, Coherent, Rohm, SiCrystal, and II-VI/Coherent-linked SiC substrate capability are the main comparison points.
- Founded: Founded in 2010.
About
Produces and sells silicon-carbide substrates and related materials to power-device and RF semiconductor customers. Its economics depend on crystal growth, wafer quality, diameter transition, yield, and customer qualification.
Jinan, Shandong · Founded 2010 · Ticker 688234
Why it matters
SiC is a strategic materials bottleneck. Device makers cannot scale automotive and industrial power modules without reliable substrates, and substrate quality is a separate capability from packaging or device design.
Where it sits in the stack
Key semiconductor products
- SiC crystal growth, wafer processing, and substrate quality-control capabilities.
- Diameter roadmap from 6-inch supply toward 8-inch qualification/commercialization.
- Conductive SiC substrates
- Semi-insulating SiC substrates
- P-type SiC substrates
Financials
688234.SS · Shanghai STAR Market 688234 · via Yahoo Finance ↗
Financial trajectory via annual filings via Yahoo Finance
RMB billionsMarket data refreshed daily; annual figures from exchange filings. Figures in the reporting currency shown on the chart.
Ecosystem
Investors / affiliates
- Shanghai SICC Semiconductor Materials Co., Ltd
Constraints
- Shanghai SICC
Competitors
- Wolfspeed
- Coherent (formerly II-VI)
- SK Siltron CSS
- Soitec
- Tankeblue (天科合达)
- Hebei Synlight (河北同光半导体)
Customers / end markets
- SICC (山东天岳先进科技股份有限公司 / Shandong SICC Advanced Materials)
- Power-device makers serving EV, industrial, renewable-energy, charging, rail, and grid applications
- RF device makers serving telecom and microwave applications for semi-insulating SiC
Global peer set
- Wolfspeed, Coherent, Rohm/SiCrystal, and other SiC substrate leaders
- Domestic comparison set includes TankeBlue and other Chinese SiC substrate/materials suppliers
Affiliates
- Shanghai SICC Semiconductor Materials Co., Ltd. (上海天岳半导体材料有限公司, wholly-owned subsidiary)
Competitive position
- SICC is best understood as a materials chokepoint — a substrate supplier — not a power-module vendor.
- China can have strong downstream EV demand and power-module assembly while still facing tests in substrate quality, diameter, yield, and customer qualification.
- The meaningful comparison is wafer diameter, defect density, boule growth consistency, and qualified customer programs.
- SICC is a leading Chinese SiC substrate maker with 6-inch volume production, 8-inch scaling, and pilots in 8-inch liquid-phase growth and 12-inch P-type wafers. The strategic significance is that 8-inch liquid-phase could lower defect density versus standard PVT, while 12-inch P-type extends the roadmap; both remain pre-volume and are where SICC must close ground on the global frontier led by Wolfspeed and Coherent.
- The main bottleneck is 8-inch yield and capacity ramp, plus long customer-qualification cycles at power-device and RF fabs; revenue and capacity figures are not publicly disclosed in the available signals, limiting any size comparison.
- Global comparables: Wolfspeed, Coherent, Rohm/SiCrystal, and other SiC substrate leaders.
- Global comparables: Domestic comparison set includes TankeBlue and other Chinese SiC substrate/materials suppliers.
- The main constraints are crystal growth quality, defect density, wafer diameter transition, polishing/epitaxy readiness, and long customer qualification cycles.
Recent activity
- 2025-06—Parent company provided an RMB 1 billion guarantee for Shanghai SICC's (Lingang) fixed-asset expansion loan from ICBC Shanghai FTZ branch. [via big5.sse.com.cn]
- 2025—Company reported becoming the global #1 SiC substrate supplier by market share in 2025, citing Fuji Keizai. [via chinaservicesinfo.com]
Milestones and signals
- 2010—SICC was founded.
- 2025—Capacity: CNY Shanghai Lingang expansion backed by RMB 1 billion fixed-asset loan (financing scale, not wafer capacity)
- 2025—Market share: Self-reported global #1 in SiC substrates
- 2026-10-04—Market cap: RMB 50.6B
- FY2025—Revenue: RMB 1.5B
- Listing—Shanghai Stock Exchange STAR Market · 688234 · A-share common stock
What to watch
- 6-inch shipment scale and 8-inch qualification announcements.
- Automotive-grade customer qualification for EV power devices.
- Conductive versus semi-insulating product mix.
- Yield, defect-density, and pricing signals versus Wolfspeed/Coherent/Rohm.
Answered questions
Last reviewed 2026-07-01How much of SICC's output is 6-inch versus 8-inch, and how much is conductive versus semi-insulating?
Against Wolfspeed, Coherent, SK Siltron CSS, and Soitec: SICC is a leading Chinese SiC substrate maker with 6-inch volume production, 8-inch scaling, and pilots in 8-inch liquid-phase growth and 12-inch P-type wafers. The strategic significance is that 8-inch liquid-phase could lower defect density versus standard PVT, while 12-inch P-type extends the roadmap; both remain pre-volume and are where SICC must close ground on the global frontier led by Wolfspeed and Coherent.
Which customers have qualified SICC substrates in volume products?
On the record: 8-inch liquid-phase crystal and 12-inch P-type substrate (Prototype) and a RMB 1 billion (100,000万元) guarantee (Commercial use) at Shanghai SICC for fixed-asset loan from ICBC Shanghai FTZ branch.
How do defect density, yield, and pricing compare with Wolfspeed and other global substrate leaders?
Against Wolfspeed, Coherent, SK Siltron CSS, and Soitec: SICC is a leading Chinese SiC substrate maker with 6-inch volume production, 8-inch scaling, and pilots in 8-inch liquid-phase growth and 12-inch P-type wafers. The strategic significance is that 8-inch liquid-phase could lower defect density versus standard PVT, while 12-inch P-type extends the roadmap; both remain pre-volume and are where SICC must close ground on the global frontier led by Wolfspeed and Coherent.
Does China have enough upstream crystal-growth equipment, consumables, and process know-how to scale SiC substrate supply?
The main bottleneck is 8-inch yield and capacity ramp, plus long customer-qualification cycles at power-device and RF fabs; revenue and capacity figures are not publicly disclosed in the available signals, limiting any size comparison. The main constraints are crystal growth quality, defect density, wafer diameter transition, polishing/epitaxy readiness, and long customer qualification cycles.