碳化硅巨头，终于逆转

Core Viewpoint - Wolfspeed has successfully exited Chapter 11 bankruptcy protection, significantly reducing its total debt by nearly 70% and annual cash interest expenses by approximately 60% [1][2]. Group 1: Bankruptcy Background and Impact - Wolfspeed, formerly known as Cree Inc., has been a pioneer in silicon carbide (SiC) materials and power devices, facing financial challenges due to increased capital expenditures for capacity expansion amid rapid growth in the electric vehicle and renewable energy markets [2]. - The company filed for Chapter 11 bankruptcy protection in June 2023, driven by uncertainties in U.S. trade policies, global economic fluctuations, and a slowdown in downstream demand, which led to cash flow constraints and debt pressure [2]. - The bankruptcy raised concerns about Wolfspeed's ability to fulfill its expansion plans for the "world's largest silicon carbide wafer factory" in Mohawk Valley, New York [2]. Group 2: Current Developments - Following the restructuring, Wolfspeed has announced the addition of five new board members, including Mike Bokan, former Senior Vice President of Global Sales at Micron, and Eric Musser, who is retiring as President of Corning this year [1]. - The company is now focusing on its core business and aims to leverage strong demand from AI, photovoltaics, and electric vehicles to regain its competitive position in the silicon carbide industry [2].