YASC recently announced the completion of a CNY 1 billion-plus Series A+ round equity funding, a prime example that the company gained market recognition once again after it raised more than CNY 3.8 billion in the Series A funding round in 2023. This round of financing was led by Jiangcheng Industrial Investment Fund and Yangtze River Industry Group, with participation from institutions including Optics Valley Financial Holding Group and Chery’s Auto Connectivity Chip Fund. The funds raised will primarily be used to help YASC extend its technology footprint across the whole industrial chain of silicon carbide (SiC) power semiconductors and capture the global market in emerging sectors at a faster pace.

Silicon carbide is typical representative third-generation semiconductor material with various material advantages such as high temperature tolerance, high voltage tolerance, increased frequency and low loss. It has become key material in new energy vehicles (NEVs), photovoltaic power generation, smart grid and rail transit, and had strategic weight in the global energy transition and semiconductor technology upgrade. Moreover, as the technology coming of age and production at scale in the industry continue to drive down the cost, downstream SiC applications are experiencing rapid expansion. The outlook for the industry is highly anticipated as not only traditional core markets are maintaining hypergrowth, but also emerging areas such as AI data centers and consumer appliances are also becoming as new growth drivers in the silicon carbide market.

Notably, with the rapid growth and increasing market competition in the semiconductor industry over recent years, the global semiconductor industry is entering a new phase of development. The semiconductor capital market is also shifting from “investing in arenas” to “investing in companies”, and the industry is embracing a new cycle of smart growth in overall development. Against this backdrop, YASC’s successful completion of Series A+ round funding signifies full recognition of its technological prowess and market prospects in the capital market.

YASC has set itself the mission of “breaking up international monopoly, filling the blanks in China” since its inception, and always focused on the research, development and manufacturing of SiC power semiconductor products. It has unremittingly ramped up breakthroughs and innovations on core technologies in key fields, and steadily improved the yield rate and product reliability. With its strategic presence of two production bases in Wuhu and Wuhan, YASC now has the manufacturing capabilities of 420,000 SiC wafers a year, ranking among the top in China. The wafer production line at Wuhu Base has achieved full capacity production; Wuhan Base successfully went into production in May 2025, with all key technical metrics reaching the international leading level to fully meet the reliability and stable mass production requirements for NEV traction inverters.

Looking ahead, YASC will take the Series A+ round funding as an opportunity to constantly make technological breakthroughs and speed up product iteration. In the meantime, the company will strengthen strategic cooperation with top players in core fields, and consolidate its dominant position in both traditional and emerging SiC markets, which is poised to provide the core driving force for outperforming the SiC power semiconductor sector in the future.

【Investor Representatives' Views】

“Silicon carbide is key third-generation semiconductor material crucial for strategic industries such as new energy and 5G. Wuhan, the National Memory Base and an optoelectronic industrial hub, is racing to seize the commanding heights of the compound semiconductor industry. The 360,000-SiC wafer production capacity project developed by YASC in Wuhan is highly aligned with our city’s strategy of building a CNY 1 trillion industrial cluster of ‘optical communications, chips, new display screens, smart terminals, and digital economy’,” said Chen Chiguang, a Party member and Deputy General Manager of Wuhan Financial Holdings (Group), and Chairman of Jiangcheng Industrial Investment Fund. “We firmly support YASC in strengthening its position as a ‘chain master’ of the local SiC industrial chain through technological breakthroughs and production expansion. In collaboration with JFS Laboratory, we’ll help Hubei build a leading CNY 100 billion compound semiconductor industrial innovation zone in China.”