Recently, Roshow Technoiogy Co.Ltd(002617) announced that the company's application for non-public offering of shares was approved by the CSRC. This Roshow Technoiogy Co.Ltd(002617) plans to issue no more than 481 million shares to 35 specific objects in a non-public manner, with a total fund-raising of no more than 2.567 billion yuan, which will be used for the third generation power semiconductor (silicon carbide) Industrial Park project, large-size silicon carbide substrate R & D center project and supplementary working capital.
Wide band gap semiconductor materials are the key strategic materials encouraged by China's industrial policies. The technical threshold for the manufacturing of silicon carbide substrate materials is high. The manufacturers that can stably supply 6-inch silicon carbide substrates to enterprise users in China are relatively limited.
Affected by the international economic situation, in recent years, the supply of raw materials for Chinese silicon carbide device manufacturers has been restricted to a great extent, and the downstream market has been in short supply. Improving the localization rate of silicon carbide substrate materials and realizing import substitution are the industrial bottlenecks that need to be broken through in China's wide band gap semiconductor industry.
It is reported that Roshow Technoiogy Co.Ltd(002617) after the completion of this raised investment project, it will form an annual production capacity of 240000 pieces of 6-inch conductive silicon carbide substrate Roshow Technoiogy Co.Ltd(002617) said that the company has developed 6-inch conductive silicon carbide substrate, and the substrate quality is basically the same as that of foreign manufacturers. With the continuous investment in R & D of the company, the technology of 6-inch conductive silicon carbide substrate is becoming more and more mature, and the output will increase steadily. It is expected to become the first manufacturer of 6-inch conductive substrate in China.
According to IHS data, the global demand for silicon carbide devices is expected to reach US $1.644 billion in 2023, with a compound growth rate of about 26.6% from 2017 to 2023; The main downstream application scenarios include EV, fast charging pile, UPS power supply (Communication), photovoltaic, rail transit, Aerospace Military Industry and other fields. Among them, the electric vehicle industry is expected to usher in a rapid outbreak, and there is a large market space for communication, photovoltaic and so on. With the decrease of the cost of silicon carbide devices, the cost performance advantage of the whole life cycle is expected to be continuously amplified, and the potential replacement space is huge.
