Cuizhan Microelectronics

About Cuizhan Microelectronics

Zhejiang Grecon Semiconductor Co., Ltd. (Cuizhan Microelectronics) is a designer and manufacturer of automotive-grade power devices and analog integrated circuits, positioning itself within China's low-carbon new energy sector. Founded in May 2018, the company is headquartered in Jiashan County, Zhejiang, strategically located near major economic hubs like Shanghai, Hangzhou, and Suzhou.

The company's core business revolves around the design, sale, packaging, and testing of power semiconductor devices. Its primary clients are in the automotive electronics, industrial control, and new energy industries. Grecon generates revenue through the sale of its semiconductor products to these sectors. The business model is focused on providing high-reliability semiconductor solutions for applications such as electric vehicle (EV) main drive inverters, onboard chargers (OBC), industrial inverters, servo drives, power conversion systems for photovoltaic and energy storage, and uninterruptible power supplies (UPS).

Grecon's product portfolio is extensive, featuring power modules like IGBT and SiC modules, discrete devices, and wafers. A key product is the automotive master-drive Insulated-Gate Bipolar Transistor (IGBT) module, crucial for electric vehicle powertrains. The company has also developed Silicon Carbide (SiC) modules, which are increasingly sought after by automakers. In 2022, the company delivered nearly 100,000 sets of these automotive IGBT modules. The firm operates multiple power device packaging and testing lines with a current annual production capacity of nearly 700,000 automotive modules and over 1 million industrial modules, with plans for significant expansion.

The company has secured significant funding to fuel its growth. In 2022 alone, Grecon completed three financing rounds, raising over 200 million yuan ($29.5 million). A Series A+ round at the end of 2022 brought in over 100 million yuan ($14.7 million), led by existing shareholder Ningbo Tianlong Electronics Co., Ltd., with participation from another existing investor, Oriza PE. Overall, Grecon has raised $30.9M to date. These funds are allocated towards constructing new production lines, acquiring new equipment, and advancing new product R&D to increase its delivery capacity and explore new markets in industrial control and photovoltaics.