今天，半导体领域再次成为全市场的焦点，芯源微、恒坤新材、南大光电、安集科技、长川科技等均涨超10cm！ 与此同时，又有半导体公司正在冲击IPO。 公司的机构股东包括湾区社保基金（深创投管理）、达晨创投、国信资本等。 在2025年7月的股权转让中，中图半导体的投后估值约31亿元。 格隆汇获悉，广东中图半导体科技股份有限公司（简称"中图半导体"）于12月31日递表上交所，寻求科创板上市，由 国泰海通证券担任保荐人。 01 专注于图形化衬底材料领域，深创投、达晨押注 中图半导体成立于2013年12月，2020年9月改制为股份公司，总部坐落于东莞市松山湖高新技术产业开发区。 本次发行前，陈健民通过直接及间接的方式合计控制公司79.66%的股份，为实际控制人。 公司前十名股东合计持有96.30%的股份，公司仅有两名自然人股东，即陈健民和康凯。 本次发行前的股权架构，来源：招股书 陈健民出生于1983年，研究生学历，工商管理专业，目前任中图科技董事。他同时还在光大企业集团、中民控股任 职。 康凯出生于1963年，本科学历，半导体物理与器件专业，目前任董事长兼总经理。此前，他曾在长春市半导体厂研究 所、长春市朝阳区劳动局、 ...

今天，半导体领域再次成为全市场的焦点，芯源微、恒坤新材、南大光电、安集科技、长川科技等均涨超10cm！ 与此同时，又有半导体公司正在冲击IPO。 格隆汇获悉，广东中图半导体科技股份有限公司（简称"中图半导体"）于12月31日递表上交所，寻求科创板上市，由 国泰海通证券担任保荐人。 01 专注于图形化衬底材料领域，深创投、达晨押注 中图半导体成立于2013年12月，2020年9月改制为股份公司，总部坐落于东莞市松山湖高新技术产业开发区。 本次发行前，陈健民通过直接及间接的方式合计控制公司79.66%的股份，为实际控制人。 公司前十名股东合计持有96.30%的股份，公司仅有两名自然人股东，即陈健民和康凯。 公司的主要产品包括2至6英寸图形化蓝宝石衬底（PSS）和4至6英寸图形化复合材料衬底（MMS），是半导体产业链 上游核心衬底材料之一；公司折合4英寸的图形化衬底年产能超1800万片。 上述产品主要应用于Mini/MicroLED、汽车照明及车载显示、RGB直显、背光显示、照明等领域，并在氮化镓功率器 件等领域已有日渐成熟的应用。 | 应用大类 | 应用领域 | 衬底产品 | 主要应用场景 | | --- | - ...

随着人工智能军备竞赛进入新阶段，英伟达正引领全球数据中心进行一场史无前例的供电架构"革命"： 将电压标准从传统的交流电转向800伏直流电。 英伟达已于近期宣布了包括CoreWeave、甲骨文在内的十余家合作伙伴，旨在为800伏直流电源架构和 单机柜功率密度达到1兆瓦（MW）的超高密度计算环境做准备。这一转变是为了支持其下一代"Vera Rubin"架构及"Kyber"系统，后者预计于2027年面世，单机柜将集成576个GPU，其对电力和冷却系统的 要求远远超出了当前415伏交流电架构的承载极限。 高盛在最新的研究报告中指出，这一技术飞跃意味着数据中心资本支出的重心将发生显著转移。投资者 已开始重新评估资本货物行业的赢家与输家，因为这不仅代表着基础设施融资缺口将进一步扩大，更意 味着从变压器、断路器到线缆和冷却系统，整个产业链都将面临强制性的技术升级与换代。 尽管英伟达预计这一架构长期可将总拥有成本（TCO）降低30%，但在短期内，这无疑构成了一道巨大 的资本支出门槛。这场变革迫使运营商采购数以百万计的新设备，从而引发该行业第一轮大规模的硬件 升级周期。 突破物理极限：从几十千瓦到兆瓦级飞跃 数据中心向800V ...

Group 1 - InnoLux (02577) shares rose over 4%, currently trading at 75.8 HKD with a transaction volume of 218 million HKD [1] - The company achieved a significant legal victory regarding the validity of its two core GaN patents, with the Chinese National Intellectual Property Administration ruling in favor of InnoLux and rejecting Infineon's invalidation request [1] - Bank of America Securities highlighted InnoLux as a leading player in the GaN power semiconductor market, holding a 30% global market share by revenue last year [1] Group 2 - The global GaN power semiconductor market is projected to grow at a compound annual growth rate (CAGR) of 63% from 2024 to 2028, indicating strong long-term growth prospects for InnoLux [1] - Economies of scale and technological innovation are expected to continuously improve the company's profitability [1] - InnoLux's collaboration with NVIDIA to develop an 800V HVDC architecture is anticipated to enhance revenue potential starting in 2027 [1]

Core Insights - Wolfspeed has officially commercialized its 200mm SiC material products, marking a significant milestone in the industry's transition from silicon to silicon carbide [2] - The 200mm SiC wafers and epitaxial layers are designed to enhance scalability and quality, supporting the development of next-generation high-performance power devices [2][3] - DB HiTek has completed the development of its next-generation power semiconductor process, the 650V E-Mode GaN HEMT, aimed at improving power efficiency in AI data centers and robotics [3][4] Wolfspeed Developments - The 200mm SiC wafers feature improved specifications, including a thickness of 350µm, and industry-leading doping and thickness uniformity, which enhance MOSFET yield and accelerate time-to-market [2] - The commercial launch of these products is driven by positive market feedback and the significant advantages they offer [2] - The company emphasizes that this advancement is not just about wafer size but represents a material innovation that enables customers to confidently accelerate their device roadmaps [3] DB HiTek Innovations - DB HiTek's new 650V GaN process is expected to significantly reduce power loss compared to silicon, making it a viable alternative for high-efficiency applications [4] - The company anticipates that the GaN process will synergize with its existing BCDMOS technology, which integrates analog, digital, and high-power circuits [4] - Market research predicts that the GaN market will grow at an annual rate of approximately 40%, increasing from $530 million in 2025 to $2.013 billion by 2029 [4] Capacity Expansion - To meet the growing demand for GaN technology, DB HiTek plans to expand its cleanroom capacity, increasing monthly wafer production from 154,000 to approximately 190,000 wafers, representing a 23% increase [4]

Core Insights - Navitas Semiconductor has announced a strategic partnership with Powerchip Semiconductor Manufacturing Corporation (PSMC) to produce and develop 200mm silicon-based gallium nitride (GaN) technology after TSMC plans to terminate its GaN foundry business by 2027 [1][2] - The collaboration aims to meet the growing demand for GaN products in 48V infrastructure, including large-scale AI data centers and electric vehicles, with initial devices expected to be certified by Q4 2025 [1][2] Group 1 - Navitas will utilize Powerchip's 200mm wafer production capabilities at its 8B fab in Taiwan, which has been operational since 2019, to support various GaN mass production processes [1] - Powerchip's advanced 180nm CMOS technology will enhance performance, power efficiency, integration, and cost-effectiveness of Navitas's GaN product lineup, which will range from 100V to 650V [1][2] - The first 100V series is expected to enter production in H1 2026, while the 650V devices will transition from TSMC to Powerchip within the next 12-24 months [1] Group 2 - Navitas has made several announcements in the AI data center, electric vehicle, and solar markets, including collaborations with NVIDIA and Enphase, showcasing its GaN and SiC technology [2] - The CEO of Navitas expressed excitement about the partnership with Powerchip, emphasizing the commitment to continuous innovation in product performance and cost efficiency [2] - Powerchip's general manager highlighted the long-standing collaboration with Navitas in GaN-on-Si technology and the nearing completion of product certification, paving the way for mass production [2]

Core Viewpoint - The article discusses the advancements and strategic initiatives of 京东方华灿 in the GaN (Gallium Nitride) power device sector, emphasizing their commitment to reliability and standardization in the consumer market while aiming for broader industrial and automotive applications [2][7]. Group 1: Technological Breakthroughs - 京东方华灿's 650V product platform has achieved 1000H reliability certification, which is crucial for establishing a standardized foundation for consumer-grade GaN power devices [4][5]. - The company has developed a GaN epitaxial structure that enhances the device's breakdown voltage (BV) from 1400V to over 2000V, significantly improving reliability margins [6]. - 京东方华灿 is also preparing for 1200V GaN product technology, indicating a proactive approach to future product development [6]. Group 2: Market Strategy - 京东方华灿 is implementing a three-tier strategy focusing on consumer, industrial, and automotive applications, aiming to transition from a technology competition phase to practical market applications [7]. - The company is enhancing its competitive edge through a collaborative approach across various aspects of its operations, including manufacturing stability and product yield improvements [5][6]. Group 3: Quality Assurance and Testing - 京东方华灿 has established dynamic testing and reliability laboratories to meet the testing demands of the GaN power device market, ensuring efficient analysis and support [10]. - The company is committed to a comprehensive quality assurance process from product development to mass production, ensuring high-quality product delivery to customers [10].

Core Viewpoint - The article highlights the advancements in the GaN (Gallium Nitride) technology within the solar energy and storage sectors, showcasing the innovative products and their implications for the industry [1][3]. Group 1: GaN Technology Advancements - Growatt's NEXA 2000 system utilizes GaN inverter technology, significantly enhancing inverter performance, capable of handling 20A string current and supporting 650W high-power solar modules, with a total solar input capacity of 2600W [3]. - Compared to traditional silicon-based inverters, GaN technology results in smaller size, higher efficiency, and reduced system heat generation [3]. - The NEXA 2000 system includes a built-in 2kWh storage module, expandable to 8kWh, and is priced at approximately 750 euros (around 6000 RMB) in the German market [3]. Group 2: Industry Participation and Product Development - Numerous companies, including InnoSky, Nenghua Semiconductor, and others, are actively participating in the compilation of the "2024-2025 GaN Industry Research White Paper," contributing technical cases and market data [5]. - InnoSky has launched a 2kW micro-inverter solution based on GaN technology, featuring a Flyback + H-bridge inverter architecture, achieving higher power density and efficiency for rooftop solar applications [3]. - The ongoing research indicates that over ten companies, such as YN Energy and Yizu, have achieved mass production of GaN solar storage products, covering a wide range of applications from solar photovoltaics to industrial-grade energy storage [3].

Core Viewpoint - The article highlights the acceleration of GaN (Gallium Nitride) projects in the semiconductor industry, specifically focusing on APRO Semicon's new factory in South Korea and Polymatech's investment in India, indicating a growing trend in GaN technology development and production capacity [1][4]. Group 1: APRO Semicon - APRO Semicon's new factory in Gumi has commenced mass production of 8-inch GaN epitaxial wafers, with an annual capacity of 20,000 wafers and projected sales of 10 billion KRW (approximately 0.5 million RMB) within six months [2][4]. - The factory was completed in December of the previous year and produces silicon-based GaN epitaxial wafers for 650V power semiconductors [2]. - APRO Semicon has previously developed epitaxial wafers for 1200V GaN devices, capable of withstanding breakdown voltages of 1600V, with a growth thickness and uniformity reaching 99% [2][5]. - The company is enhancing its GaN business by collaborating with DB HiTek for supply plans and establishing a design team for next-generation GaN power semiconductor devices [2][5]. Group 2: Polymatech - Polymatech, an Indian semiconductor manufacturer, is investing 1.3 billion USD (approximately 9.3 million RMB) to build a new GaN chip factory in Chhattisgarh [6]. - The local government is providing policy support, tax incentives, infrastructure development, and special facilities to boost the electronics and semiconductor industry under the "Make in India" and "Digital India" initiatives [6]. - Polymatech aims to enhance India's semiconductor and telecom manufacturing capabilities and is prepared to offer next-generation solutions for the global 5G and 6G ecosystems [6].

能产品均可以实现更高的效率、更小的体积，多家氮化镓厂商试图切入，目前来看仅镓未来实现了量产突 破。 据镓未来在慕尼黑电子展透露，其最新开发的双向氮化镓器件，有望在光伏微型逆变器及汽车OBC市场实 现更大突破。此双向器件可以实现一颗氮化镓MOS器件 替代四颗 传统Si-MOS器件，不仅性能提升、设计 简化，更取得了根本性的成本优势。 得益于"双向逆变系统解决方案"的专利，镓未来结合氮化镓特性通过巧妙的系统设计实现一套电路既能充 电又能放电，在储能领域获得了广泛应用。目前在户外储能上，镓未来已经是安克、华宝等知名品牌的供 应商，尤其华宝的高端户外储能品牌（电小二及Jackery）用量较大，出货器件估计已 超百万颗 。 据此来看，镓未来切入的客户及场景要求高，进入周期长，同时研发难度也进一步提升，要求器件厂商不 仅要在器件上有绝对的优势，还要求其必须具备专业的系统设计能力和客户支持能力。这条路并不轻松， 在放量的同时也需要时间，考验团队的运营能力，以及投资方的耐心和加持。 插播： 英 诺 赛 科 、 能 华 半 导 体 、 致 能 半 导 体 、 京 东 方 华 灿 光 电 、 镓 奥 科 技 等 已 确 认 参 ...