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Silan Micro

600460.SSFounded 1997HangzhouReviewed 2026-08-30

Hangzhou Silan Microelectronics, founded in September 1997 and listed on the Shanghai Stock Exchange since March 2003 as the first mainland-listed IC design company, operates as an IDM spanning chip design, 5-inch/6-inch/8-inch/12-inch wafer fabrication, compound semiconductors and packaging. Its IPM intelligent power modules dominate Chinese white-goods inverter designs, and it is scaling SiC MOSFETs for electric-vehicle main-drive inverters plus a planned CNY 10 billion 12-inch analog fab.

Scale

~$1.8Brevenue FY2025 · CNY 13.1B
~$7.1Bmarket cap · 2026-10-04

Gap vs frontier

Substitutesector position

Sector-level position; no priceable accelerator silicon to compare chip-by-chip.

Silan Micro: substitute tier in Analog / power management, ~$1.8B FY2025 revenue.

The chip stackEach layer depends on the layers below it
1 · ChipsWhat the stack produces
Analog / power · Substitute
2 · Design toolsSoftware and IP to design them
3 · ManufacturingPlants that turn designs into silicon
4 · EquipmentMachines inside the plants
5 · MaterialsWhat the plants consume

Company at a glance

Scale

Revenue up 40% since FY2023

Growth prospects

Expanding customer base and product roadmap

via stcn.com ↗The Silan Jike 12-inch line produced 637,400 wafers in 2025, up 19%, generating CNY 3.187 billion of revenuevia silan.com.cn ↗Self-developed 1200V SiC modules have passed validation at multiple automakers and entered volume delivery for main-drive applications

China competition

Competes with 3PEAK, Novosense, Silergy, Maxscend in Analog / power — peers listed at sector level.

Substitute

Global comparables

Global reference set: Texas Instruments, Analog Devices, Infineon.

Infineon

Technical gap

Sector rated substitute vs the frontier.

Obstacles

Sector bottleneck applies

Reliability, mixed-signal design depth, long qualification cycles, and high-end customer trust.

Official filings: 2025 semi-annual report highlights (official) ↗

All sourced facts (8)
  • Headquarters: Hangzhou, China
  • Founded: September 1997 as Hangzhou Silan Electronics; reorganized into a joint-stock company in October 2000 via silan.com.cn ↗
  • Listing: Shanghai Stock Exchange main board, 600460.SS, since March 2003; first IC design company listed in mainland China via silan.com.cn ↗
  • IPM scale: Chinese white-goods makers used more than 250 million Silan IPM modules in 2025, up about 47% year over year via silan.com.cn ↗
  • 12-inch line output: The Silan Jike 12-inch line produced 637,400 wafers in 2025, up 19%, generating CNY 3.187 billion of revenue via stcn.com ↗
  • SiC capacity: The 6-inch SiC line has reached 10,000 wafers-per-month SiC MOSFET capability, and the phase-1 8-inch SiC line with 420,000 wafers-per-year planned capacity has come on line targeting EV main-drive inverters via eet-china.com ↗
  • Automotive SiC traction: Self-developed 1200V SiC modules have passed validation at multiple automakers and entered volume delivery for main-drive applications via silan.com.cn ↗
  • FY2025 profit: Net profit of CNY 399 million in 2025, up 81.27% year over year via stcn.com ↗

About

IDM: designs and manufactures power devices (IGBT, SiC/GaN, IPM modules), MEMS sensors, LEDs, and analog/MCU chips in its own fabs, selling to appliance makers, EV and industrial customers; also provides foundry wafer output through its Silan Jike 12-inch line.

Hangzhou · Founded 1997

Why it matters

Silan is China's most complete domestic power-semiconductor IDM and a direct substitute target for Infineon and onsemi in IPM modules, IGBTs and SiC. Its vertically integrated 12-inch line and 8-inch SiC line make it a bellwether for whether domestic IDM economics can work in analog and power.

Where it sits in the stack

Compute

Analog / power management

Substitute

Reliability, mixed-signal design depth, long qualification cycles, and high-end customer trust.

AI trainingAI inferenceRoboticsEV / auto

Key semiconductor products

  • IPM intelligent power modules for appliance and industrial motor control
  • IGBTs and SiC/GaN power devices·incl. 1200V SiC modules for EV main drive
  • 5-inch/6-inch/8-inch/12-inch wafer fabrication and foundry services
  • MEMS sensors and 32-bit MCUs
  • LED chips and lighting products
  • Power management and analog ICs

Financials

600460.SS · Shanghai Stock Exchange (main board) 600460.SS · via Yahoo Finance ↗

Financial trajectory via annual filings via Yahoo Finance

RMB billions
RMB 9.34BRMB -0.04B
2023
RMB 11.2BRMB 0.22B
2024
RMB 13.1BRMB 0.4B
2025

Market data refreshed daily; annual figures from exchange filings. Figures in the reporting currency shown on the chart.

Ecosystem

Global peer set

  • Infineon
  • onsemi
  • STMicroelectronics (SiC)
  • Mitsubishi Electric (IPM)
  • ROHM

Competitive position

  • Domestic IPM leader whose modules ship in the hundreds of millions per year into Chinese inverter air-conditioners and white goods, displacing Infineon and onsemi imports
  • Among the first Chinese IDMs with volume 12-inch capability and SiC MOSFET production at scale
  • FY2025 revenue of CNY 13.05 billion makes it one of China's largest IDMs
  • Global comparables: Infineon
  • Global comparables: onsemi
  • Global comparables: STMicroelectronics (SiC)
  • Global comparables: Mitsubishi Electric (IPM)
  • Global comparables: ROHM

Milestones and signals

  • 1997—Silan Micro was founded.
  • 2003—Shanghai Stock Exchange main board, 600460.SS, since March 2003
  • 2025—12-Inch Line Wafer Output: n/a 637,400 wafers
  • 2025—IPM Module Shipments Into White Goods: n/a Over 250 million units
  • 2026-10-04—Market cap: RMB 51.2B
  • FY2025—Revenue: RMB 13.1B

What to watch

  • Ramp and utilization of the planned CNY 10 billion 12-inch high-end analog IC fab serving automotive, AI-server and robotics demand
  • 8-inch SiC line yield and design wins in 800V EV platforms as SiC prices fall
  • Margin trajectory as commodity IGBT/LED pricing pressure offsets automotive mix

Questions

Last reviewed 2026-07-11

Answered questions

What is the measurable gap versus global reference companies?

Domestic IPM leader whose modules ship in the hundreds of millions per year into Chinese inverter air-conditioners and white goods, displacing Infineon and onsemi imports.

Open questions

  • Which products are qualified beyond pilots in compute_company?
  • Which customers, fabs, or end markets show real adoption rather than policy interest?