According to the announcement of165438+1October 8th, a company mainly engaged in new energy vehicle business will purchase silicon carbide chips from Hunan Sanan, a wholly-owned subsidiary of Sanan Optoelectronics. By 2027, the total amount is expected to be 3.8 billion yuan (including tax).
However, Sanan Optoelectronics did not disclose the name of this new energy automobile company. It said that the company has fulfilled the disclosure exemption procedure for the relevant commercially sensitive information of the counterparty of this transaction, and exempted some information from disclosure.
Hunan Sanan's products (silicon carbide chips) are already in production, and the other party (new energy automobile company) is now in trial production. 1On the afternoon of October 8, relevant persons of Sanan Optoelectronics told 2 1. 1 Century Business Herald.
Silicon carbide business gradually landed.
Although it won a large bill of 3.8 billion yuan this time, it has no impact on the operating performance of Sanan Optoelectronics in the past two years.
The content of the intentional purchase agreement disclosed by Sanan Optoelectronics shows that the demander (new energy automobile company) promises to purchase silicon carbide chips from Sanan, Hunan every year from 2024 to 2027.
The order amount of 3.8 billion yuan is based on the market price perception in 2022 and includes the forecast of R&D business demand in 2023.
The agreed delivery time is 4 years, including 2027. The above-mentioned Sanan Optoelectronics related person told the reporter of 2 1 Century Business Herald.
As for why the buyer should start purchasing silicon carbide chips in 2024, the person in charge of Sanan Optoelectronics said that the demand of the buyer is not great now, and the trial production of the product is time-consuming, and our own production capacity needs time to improve.
However, Sanan Optoelectronics announced that the silicon carbide chips supplied to the demand side will be applied to new energy vehicle owners, which will help to further increase the market share of the company's products, enhance the company's popularity, and lay a solid foundation for the long-term development of the company's silicon carbide business.
In fact, before Hunan Sanan's silicon carbide chip has made a breakthrough.
In September this year, Hunan Sanan released 1200V silicon carbide MOSFET series products, and subsequently obtained the IATF 16949:20 16 quality management system certification officially issued by the international authoritative third-party certification leading brand DQS recognized by IATF (International Automobile Working Group).
And this time the quality certification is silicon carbide products. Therefore, the industry expects Hunan Sanan to accelerate the introduction of such products to customers.
10, 12 In June, Sanan Optoelectronics said through an interactive platform that the company's silicon carbide substrate had been sent to many international manufacturers for verification, and it had been verified by customers and sold.
In fact, as early as March this year, Hunan Sanan's automotive-grade semiconductor products have achieved the project landing.
According to the information in the semi-annual report of Sanan Optoelectronics in 2022, Hunan Sanan and Li (:Li, 020 15. HK) Beijing Chehejia, an affiliated company, jointly established Suzhou Cisco Semiconductor Co., Ltd., with 90 million yuan invested by Hunan Sanan, holding 30% of the shares. The joint venture company is mainly engaged in R&D, importing, manufacturing and selling special power modules for automobiles and power electronic modules.
The semi-annual report of Sanan Optoelectronics in 2022 also shows that Hunan Sanan is mainly engaged in the research and development and industrialization of third-generation compound semiconductors such as silicon carbide and silicon-based gallium nitride, including long crystal-substrate fabrication-epitaxial growth-chip preparation-packaging industry chain, with a total area of about 1 1,000 mu, a total construction area of over 500,000 square meters, a total investment of 654.38+0.6 billion yuan, and supporting production capacity of about.
According to the official announcement of Sanan Optoelectronics, Hunan Sanan Phase II project started in July this year and is expected to be completed and put into operation this year. It will mainly build a third-generation semiconductor industry chain production research and development base based on silicon carbide and gallium nitride. Products are mainly used in new energy vehicles, high-speed locomotives, aerospace and wireless (5G) communication.
Increase the sales proportion of high-end products
Regarding the progress of silicon carbide chips, Sanan Optoelectronics claims that it has opened the door for its expansion in the global automobile market.
However, the current performance of Sanan Optoelectronics is slightly embarrassing.
The third quarterly report in 2022 shows that the net profit of Sanan Optoelectronics in the third quarter decreased by 86.36% year-on-year, only 549,654,338+0.10.50 million yuan, and even decreased by 65,438+0.34.73% year-on-year, with a loss of 65,438+007 million yuan.
The poor performance in the third quarter was mainly due to the fact that the LED sales in the traditional field did not meet expectations, the profitability of new projects had not yet gone up, and the financial expenses increased. The above-mentioned Sanan Optoelectronics related person explained this to the reporter of 2 1 Century Business Herald.
According to the third quarterly report, the financial expenses of Sanan Optoelectronics in the first three quarters of 2022 reached 245 million yuan, compared with 5 1.8883 million yuan in the same period last year.
The company's new projects are mainly in Quanzhou, Hubei and Hunan, Fujian, and the direction is to produce more high-end applications. MiniLED and silicon carbide are relatively high-end, which are the key products to be developed in the future and are available. The above-mentioned Sanan Optoelectronics related person said.
According to the data regularly reported, besides Hunan Sanan, Sanan Optoelectronics has two projects in Quanzhou, Fujian, namely Quanzhou Sanan Semiconductor R&D and Industrialization Project (Phase I) with a total investment of 654.38+0.38 billion yuan and Quanzhou Sanan Integrated Circuit Industrialization Project with an investment of 3.365 billion yuan.
These two projects are mainly engaged in gallium nitride, gallium arsenide and special packaging business, mainly engaged in optical filters and packaging business. Sanan Optoelectronics said that the production capacity continued to be released.
Hubei Sanan is mainly engaged in Mini/MicroLED epitaxial wafers, chips and deep processing of chips, with a total investment of 654.38+02 billion yuan.
In the company's current revenue, traditional products account for a relatively large proportion, but high-end products are growing rapidly. The above-mentioned Sanan Optoelectronics related person pointed out.
However, the market is more concerned about the prospect of Sanan photoelectric silicon carbide.
Dongguan Securities Research Institute believes that silicon carbide has superior electrical characteristics and is expected to become one of the most promising semiconductor materials. Downstream new energy vehicles, photovoltaic and other fields are driving the growth of the industry.
Essence Securities Research Report believes that under the market demand of high battery life and fast charging, the upgrading trend of new energy vehicles from 400V to 800V has become an overall situation, and the power devices made of silicon carbide have obvious advantages, and the industry is on the eve of rapid growth.
Yole forecast quoted by Sanan Optoelectronics shows that the silicon carbide power device market is expected to grow from 65.438+0.9 billion US dollars in 202 1 to 6.297 billion US dollars in 2027, with a compound annual growth rate of 34%.
Sanan Optoelectronics said in the semi-annual report that at present, Hunan Sanan has reached a production capacity of 6,000 pieces/month.
The production capacity of Hunan Sanan is also gradually increasing, and it has now exceeded 6,000 tablets/month. The person in charge of Sanan Optoelectronics said that silicon carbide is mainly produced in Sanan, Hunan, and Sanan integration is also partially produced. Silicon carbide will be a big growth point in the future.