StarPower

Business

StarPower (斯达半导体股份有限公司) designs and makes IGBT and silicon carbide (SiC) power modules, with a fabless and in-house manufacturing model, for electric vehicles, solar and energy storage, industrial control, appliances and other uses (2026 interim report, pp. 11, 12).

Results

In the first half of 2026 revenue fell 0.41% to ¥1.93bn and net profit attributable to shareholders fell 76.4% to ¥65.0m. The company says the profit fall comes mainly from higher raw material costs and price cuts made last year (p. 11). Revenue from new-energy markets fell 16.02% to ¥1.02bn, which it blames on temporary swings in demand for electric vehicles and a high base from last year's solar grid connections, while industrial control and power supply revenue grew faster (p. 11).

Automotive

It says its automotive IGBT modules, on its seventh-generation process, are in volume delivery on several 800V platforms, and that its second-generation SiC MOSFET modules ship in volume for 400V and 800V drives, with a 1,500V module in volume delivery on one leading carmaker's 1,000V platform. Revenue from supplying overseas electric vehicle makers directly rose more than 70%, and it delivers automotive modules to a leading European Tier 1. It expects a three-level SiC module to reach volume in 2027, a gallium nitride (GaN) module in 2028 to 2030, and a 320MHz automotive microcontroller in small batches by the end of 2026 (p. 11).

Where it stands

StarPower's sales held flat while its margin fell on cost increases and earlier price cuts, a squeeze like the one in electric drive systems.