Recently, SkyPower Advanced Materials (Stock Code: 688234) and Wolfspeed released their latest financial reports, detailing progress in SiC revenue and other key areas:
SICC Advanced Materials: Revenue in the first half of 2026 reached RMB 9.14 billion, with 8-inch products accounting for over 50% of total revenue;
Wolfspeed: SiC revenue in Q4 of fiscal year 2026 reached 10.92 billion yuan; AI business revenue doubled for the full year.
Tianyue Advanced: SiC Revenue Hits Record High for a Single Quarter
On 8 20, Skyverse Advanced Materials released its semi-annual report for 2026. During the reporting period, the company achieved revenue of 9.14 billion yuan, a year-over-year increase of 15.10%, with a gross margin of 22.86%. By quarter, Q2 2026 generated revenue of 5.48 billion yuan, setting a new single-quarter record and marking a 42.06% year-over-year growth.
During the reporting period, revenue from SiC substrates of 8 inches accounted for over 50% of Tianyue Advanced's total business revenue, exceeding RMB 4.57 billion. As of now, Tianyue Advanced has secured orders from leading customers and completed deliveries for its 12-inch SiC substrate products.
Tianyue Advanced Materials reported that in the first half of the year, operations were at full capacity with significantly increased downstream order demand and stronger customer requirements. Product production and sales grew steadily. As of the reporting period end, Shanghai and Jinan plants are proceeding with Phase II capacity expansion plans, while the overseas plant has begun its construction planning phase.
From a practical application standpoint, during the reporting period, SICC Advanced Materials continued to advance technical collaborations with downstream customers.
In the field of micro-nano optics, SINOMAX Advanced Materials continues to supply optical-grade silicon carbide products to leading global customers.
AI Data Centers: In collaboration with global leading power device manufacturers, SICC is closely partnering on the development of next-generation power management ICs focused on power supply solutions.
Advanced Packaging: SINOCERA Advanced Materials is collaborating with top global clients to advance SiC application breakthroughs. Additionally, in chip thermal management, they have successfully integrated semi-insulating SiC substrates into the heat dissipation layers of downstream high-power laser chips, validating the feasibility of scalable industrial adoption of SiC-based thermal solutions.
Wolfspeed: SiC revenue exceeds 10 billion
On 8 19, Wolfspeed released its fourth-quarter fiscal year 2026 financial results (covering 26 from month 4 to month 6). The report shows revenue of $6 million (approximately ¥7 billion RMB) for the quarter, a year-over-year decrease of about 8%, and a net loss of $9 million (approximately ¥10 billion RMB), representing a year-over-year loss reduction of about 11%.
By business segment, Wolfspeed's power products revenue was 1.063 billion USD (approximately 7.76 billion RMB), down 10.4% year over year. Materials segment revenue was 0.433 billion USD (approximately 3.16 billion RMB), down 44.8% year over year.
Meanwhile, Wolfspeed CEO Robert Feurle and others disclosed the latest progress of the company's silicon carbide business across various sectors during the earnings call.
Automotive Business: Wolfspeed secured its first order from a European Tier 1 supplier for onboard charging (OBC) products destined for a major German OEM. The company is further deepening its partnership with Toyota, continuing collaboration in the area of vehicle-mounted charging systems.
Industrial & Energy: AI data center revenue grew 20% quarter-over-quarter and doubled in fiscal year 2026. Wolfspeed has secured design wins from power suppliers including Lite-On and MACOM to support numerous hyperscale data center projects, both existing and emerging HVDC AI architectures. Additionally, the company is collaborating with multiple solid-state transformer firms, primarily supplying 23kV and 33kV modules.
Aerospace & Defense: Wolfspeed signs a Memorandum of Understanding with GE Aerospace to supply 1kV SiC MOSFETs; partners with a leading eVTOL manufacturer to power next-generation electric aviation platforms.
Materials Business: Wolfspeed continues to serve multiple power and RF customers, including existing 6-inch LTA (Long-Term Agreement) clients, while driving their transition to 8-inch. Additionally, they have shipped 12-inch samples to customers for potential use in next-generation AI and high-performance computing (HPC) packaging.
