"Zhanxin Electronics" Secures Over 1 Billion Yuan in Series C Financing

Recently, Shanghai Ingenic Semiconductor Co., Ltd., a provider of silicon carbide (SiC) power devices and chip solutions, announced the completion of its entire Series C financing round, raising over RMB 1 billion in total. The industrial and commercial change procedures were recently finalized. The Series C financing was led by the National Development and Reform Commission Manufacturing Transformation and Upgrading Fund, with co - investors including CICC Capital, Beijing Green Energy and Low - Carbon Industry Fund, Guoji Guofang Investment, SDIC IC Fund, GIC Private Limited, Haiwang Capital, and Xinxin Capital, a joint investment by national - level funds and well - known investment institutions. This financing will be primarily used for Shanghai Ingenic Semiconductor Co., Ltd.'s expansion of its in - house silicon carbide (SiC) production capacity, product R & D, operation, and market promotion to further enhance product performance and market competitiveness.