Core Viewpoint - Zhuhai Ga Future Technology Co., Ltd. has completed a billion-level B++ round of financing, which will primarily be used for the development of high-voltage/high-power products, supply chain construction, and business expansion [1] Group 1: Company Overview - Ga Future was established in October 2020 and focuses on the research and application of gallium nitride (GaN) power devices, having mass-produced over 40 product models covering applications from 30W to 10kW at voltage levels of 650V and 900V [1] - The company has already achieved reliability verification for its first product based on a third-generation chip design platform and has begun mass production and shipment [1][4] Group 2: Product Development and Technology - The third-generation products have seen a 40% improvement in figure of merit compared to the first generation, indicating significant advancements in device performance [4] - Ga Future has optimized its production processes by forming a dedicated team to iterate on core processes at wafer fabs, enhancing production yield and efficiency [4] - The company has independently developed a bidirectional device that is currently in mass production, along with a GaN device integrated with a driver that has seen significant shipment volumes [5][7] Group 3: Cost Reduction and Market Strategy - Ga Future has achieved a 50% reduction in production costs compared to three years ago, with the manufacturing cost of its GaN devices now lower than that of comparable silicon-based devices [7] - The company aims to balance its focus between consumer electronics and industrial markets, with industrial products expected to contribute over half of its sales revenue in 2024 [10] - The overall gross margin for Ga Future is currently between 15% and 20%, with industrial products yielding higher margins than consumer products [10] Group 4: Future Plans and Management - The company plans to invest in production and supply chain construction to expand capacity and aims to complete all third-generation product iterations by 2026, targeting a 100% increase in sales revenue [12] - To adapt to rapid growth, Ga Future has established a rotating CEO system to focus on business development and management improvements [11]