Monthly Revenue Surpasses 10 Million: Former CAS National Project Lead Ventures into Advanced Chip Packaging Sector | Hardkrypton Exclusive

Author: Ou Xue

Editor: Yuan Silai

Yingke has learned that Shenzhen Zhongke Sihe Technology Co., Ltd. (hereinafter referred to as "Zhongke Sihe") is conducting a new round of financing. The funds will mainly be used to supplement R & D expenses and working capital, and it has recently received a capital increase of 60 million yuan.

Founded in 2014, Zhongke Sihe is an enterprise that manufactures specialty products (power and analog chips/modules) and integrated circuit substrate products based on board-level fan-out packaging technology. It is one of the earliest manufacturers in the world to mass-produce board-level fan-out packaging technology for power chips.

Currently, Zhongke Sihe has a first-phase production and manufacturing base in Xiamen, focusing on industries such as AI, communications, consumer goods, industry, and new energy vehicles. It has taken the lead in achieving mass production of three-dimensional board-level fan-out packaging technology based on wet processes, producing high-end power and analog chips/modules such as TVS, MOSFET, GaN, and power modules.

Huang Mian, the founder and general manager of Zhongke Sihe, has 17 years of R & D experience at the Chinese Academy of Sciences. He is the person in charge of a national "bottleneck" confidential project and a national major science and technology project. Currently, he has obtained more than 18 authorized invention patents.

Yingke has learned that in the field of AI servers, power modules usually need to occupy about 60% of the area of the computing power card. Huang Mian pointed out that in the past decade, with the rapid iteration of GPU performance, its working current has soared to nearly 1500A, and this growth trend will continue. He said, "The continuous increase in the current demand of GPUs will directly drive a corresponding increase in the number of power modules."

"Power modules are the core basic modules of AI computing power cards, which directly determine whether the computing power chips can stably release high performance," Huang Mian further told Yingke. In artificial intelligence computing scenarios, the instantaneous power consumption of large model training and inference can reach the kilowatt level, and power modules need to precisely regulate the current through multi-layer voltage conversion (such as 48V → 12V → 1V). Therefore, overall, power modules currently need to face three major challenges simultaneously: ultra-high current carrying, extreme stability guarantee, and balance between space and efficiency.

To solve the above problems, Zhongke Sihe has successfully developed power PLP products including power modules by virtue of its unique board-level fan-out packaging (FOPLP) technology, achieving revolutionary breakthroughs in dimensions such as volume, power density, heat dissipation performance, electrical performance indicators, and system integration.

(Comparison between Zhongke Sihe's power module solution and traditional solutions/Enterprise-provided image)

Huang Mian explained to Yingke that the company's three-dimensional board-level fan-out packaging technology based on wet processes can achieve high-density integration of power chips in a limited space. Currently, the power modules have been introduced to the top customers and have entered the mass production stage.

"Upgrading the traditional two-dimensional structure to a three-dimensional stack must simultaneously solve challenges such as heat dissipation and low parasitic parameters (inductance/resistance). From the perspective of the existing domestic technology paths, the three-dimensional improvement solution using wet processes may be the only feasible solution at present," Huang Mian said.

With the explosive growth of AI computing power demand, application scenarios such as AI servers have accelerated the mature implementation of Zhongke Sihe's technology. In addition, Huang Mian said that Zhongke Sihe's solutions are not only applicable to AI power modules but also can empower fields such as drones, 5G infrastructure, wearable devices, robots, and new energy vehicles. These industries all have core requirements for power sources such as "small volume, large current, high heat dissipation, and low parasitics," and Zhongke Sihe's technology is in line with the development trend of the industry.

Huang Mian revealed to Yingke that from November 2024 to April 2025, Zhongke Sihe achieved monthly revenues of over 10 million yuan for six consecutive months. The annual revenue target for 2025 is set at 150 - 180 million yuan.