GREE(SZ:000651) Xin Lang Cai Jing·2026-01-20 08:37Core Insights - Gree Electric Appliances is set to mass-produce silicon carbide (SiC) chips for photovoltaic energy storage and logistics vehicles in addition to home appliances this year, following the successful production of SiC chips for home appliances [1][2] - SiC chips are known for their high voltage, high frequency, and high-temperature resistance, significantly improving efficiency and range in electric vehicles [1] - Gree's semiconductor business is expected to generate over 10 billion yuan in revenue by 2024, with cumulative chip sales exceeding 300 million by 2025 [2] Group 1 - Gree Electric's SiC chip factory has already shipped over 2 million units for air conditioning, enhancing temperature reduction and energy efficiency [2] - The company has established a fully automated SiC chip production line in Zhuhai, with an annual capacity of 240,000 six-inch wafers, ensuring a fully controllable supply chain from substrate to packaging [2] - Gree's chip team consists of nearly 1,000 members, with over 60% being technical personnel, reflecting the company's strong focus on semiconductor technology since entering the field in 2015 [2] Group 2 - Gree's collaboration with GAC Group aims to replace half of GAC's automotive chips with Gree's products, aligning with the growing demand for domestic chips [1][2] - The automotive industry is increasingly relying on SiC chips, with GAC planning to develop 12 vehicle-grade chips by 2025, indicating a robust market for Gree's offerings [2] - The efficiency improvements from SiC chips in electric vehicles can lead to a 2%-3% increase in range for 400V platforms and a 5%-8% increase for 800V platforms [1]