New Stock News | Sicc Co., Ltd. (688234.SH) submits application to Hong Kong Stock Exchange, aiming to become a leading enterprise in the global wide forbidden zone of semiconductor materials industry.

According to the disclosure by the Hong Kong Stock Exchange on February 24th, Shandong Sicc Co., Ltd. Technology Co., Ltd. (688234.SH) submitted its application to the Hong Kong Stock Exchange, with CICC and CITIC SEC as its joint sponsors. The prospectus shows that Sicc Co., Ltd. is a leading company in the global wide bandgap semiconductor materials industry, focusing on the research and industrialization of high-quality silicon carbide substrates since its establishment. According to Frost & Sullivan data, based on sales revenue of silicon carbide substrates by 2023, the company is one of the top three silicon carbide substrate manufacturers globally. The continuous deep cultivation of material science by Sicc Co., Ltd. is leading the development of multiple industries, providing core support for new energy and AI industries with innovative silicon carbide materials, empowering future technological revolution. The company's silicon carbide substrates can be widely used in electric vehicles, AI data centers, photovoltaic systems, AI glasses, rail transportation, power grids, household appliances, and advanced communication base stations. With industry-leading technological innovation capabilities, strong mass production capabilities, high-quality product portfolio, close cooperation with upstream and downstream market participants, and efficient management capabilities, Sicc Co., Ltd. is leading the thriving development of the silicon carbide industry. According to Frost & Sullivan data, as of September 30, 2024, Sicc Co., Ltd. is one of the few companies globally that can achieve mass production of 8-inch silicon carbide substrates, the first to commercialize 2-inch to 8-inch silicon carbide substrates, and the first to introduce 12-inch silicon carbide substrates, and also one of the first to use liquid-phase method to produce P-type silicon carbide substrates. Sicc Co., Ltd. has become an important supplier to internationally renowned semiconductor companies, as of September 30, 2024, the company has established business partnerships with more than half of the top ten power semiconductor device manufacturers globally (based on 2023 revenues). The company's silicon carbide substrates are used by customers to produce successful devices and RF devices, which are ultimately used in various end products such as electric vehicles, AI data centers, and photovoltaic systems. Leveraging research and development, production, and management experience, the company's advantage in large-scale productization continues to improve. Currently, Sicc Co., Ltd. has upgraded from 2-inch to 8-inch silicon carbide substrates in mass production, and launched the industry's first 12-inch silicon carbide substrate in 2024. Not only in large-scale silicon carbide substrates, but the company can also continue to maintain its global leadership in industrialization capabilities and product quality. Financially, in the fiscal years 2022, 2023, and the nine months ending on September 30, 2024, Sicc Co., Ltd. achieved revenues of approximately RMB 417 million, RMB 1.251 billion, and RMB 1.281 billion, respectively; during the same period, the company achieved profits of -RMB 176 million, -RMB 45.72 million, and RMB 143 million, respectively.