SMIC's silicon carbide business revenue will exceed 1 billion in 2024

In its full-year performance forecast for 2024, Xinlian Integrated Circuit revealed that its silicon carbide business revenue exceeded 1 billion yuan. The company has publicly stated in its third-quarter 2024 financial report that their SiC power module mass production and fixed-point projects are continuing to grow, and have obtained fixed-point purchases from many well-known vehicle manufacturers including BYD, Xiaopeng, Weilai, Ideal, and GAC Aion, and have successfully entered overseas markets such as Europe, winning mass imports from well-known European automakers and many overseas Tier1s.