Recently, Qingchun Semiconductor (Ningbo) Co., Ltd. (hereinafter referred to as "Qingchun Semiconductor") announced the completion of hundreds of millions of yuan in Series A+financing. This round of financing is jointly led by NIO Capital, Shilanwei and its strategic funds, and Huadeng International, with continued funding from old shareholder GL Ventures. At the same time, it has received strong support from institutions such as Hongwei Technology, Hongfu Asset Management, and multiple power and photovoltaic companies. This financing will be used to further improve the supply chain layout, expand the team, build mass production laboratories, and support product volume.

    Since the end of 2021, Qingchun Semiconductor has made significant progress in the research and development of silicon carbide (SiC) device technology and product development. The 1200V SiC MOSFET platform technology is mature, and multiple specifications of products have been mass-produced, and have passed AEC-Q101 automotive grade certification and 960V-H3TRB reliability verification; We have launched the first domestically mass-produced 15V driven SiC MOSFET series products to fill the domestic gap, with all performance indicators reaching or exceeding international similar products, achieving nearly one million SiC MOSFET chip shipments and serving multiple top customers in the photovoltaic and energy storage industries; We have launched a 1200V 14m Ω SiC MOSFET with the lowest on resistance in China, which has been verified by Tier 1 manufacturers and benchmarked against mainstream international driver chips. It is currently being validated by multiple automotive companies. In the future, Pure Semiconductors will continue to focus on electric vehicle main drive chips, customizing high-performance, high reliability, and cost-effective main drive chips for new energy vehicle companies, and taking the lead in achieving domestic substitution of main drive silicon carbide chips.

    Zhu Yan, Managing Partner of NIO Capital, stated that compared to silicon-based devices, silicon carbide power devices have significant advantages in both system and application aspects. The silicon carbide market has a large space and fast growth rate, and has a wide range of application scenarios in fields such as new energy vehicles. Qingchun Semiconductor is one of the best start-ups in the field of silicon carbide in China. The team has the richest experience in silicon carbide design and manufacturing in the industry. The company has completed the research and development of SiC MOSFET products in just over a year and has passed the vehicle specification certification. The product performance is comparable to overseas peers, and it is expected to be the first to achieve localization in electric vehicle main drive and other aspects.

    Dr. Chen Xiangming, CEO of Shilan Holdings and founder of Ginkgo Valley Capital, stated that the founding team of Qingchun Semiconductor has profound technical and industrial experience in the SiC chip field, and its products have been highly praised by customers and the market. This round of financing marks the full implementation of the strategic cooperation between Qingchun Semiconductor and Silan Microelectronics. Shilanwei will rely on its leading domestic SiC wafer production line to provide production capacity guarantee for pure semiconductors, fully supporting the development needs of pure semiconductors in all aspects. Through the strong alliance between the two parties, it will quickly promote the technological iteration of SiC devices and accelerate the improvement of the domestic substitution level of SiC power chips and modules.

    Wang Lin, a partner at Huadeng International, said that it is rare for Qingchun Semiconductor to have world-class process research and development accumulation. What is even more valuable is that the team still maintains strong continuous innovation capabilities. Since its establishment, the company has rapidly formed a complete SiC product matrix and completed multiple product iterations, benchmarking its performance against international giants. Huadeng International adheres to a long-term approach and looks forward to working with the team for a long time, growing together, and building a leading enterprise in the next generation of power devices industry.

    The project leader of GL Ventures stated that as an inevitable choice in the era of electrification, the demand for silicon carbide power devices has exploded rapidly in recent years. Although Qingchun Semiconductor has not been established for a long time, it has achieved unexpected development in technology and products in the past two years through cutting-edge technology pursuit, as well as years of deep research and production experience in this field. In a very short period of time, it has achieved comprehensive breakthroughs in technology and market. SiC MOSFET products have been delivered in bulk to photovoltaic and energy storage customers, and 14 milliohm products have passed vehicle specification testing and multiple module factory verifications in all aspects. As an early leading investor in Qingchun Semiconductor, Hillhouse Capital continues to increase its investment in this round. We are very optimistic about the company's long-term development and believe that Qingchun will