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    Industrial - Specialties
SICC Co., Ltd.

SICC Co., Ltd.

688234.SS
SICC Co., Ltd.CN flagShanghai Stock Exchange
146.00
CNY
+4.59
- -
62.74BMarket Cap
SICC Co., Ltd.
688234.SS
(Shanghai Stock Exchange)

Recent

price

146.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
- -
- -
1.1
1.26
0.97
3.01
4.15
3.31
3.87
Revenue per Share
- -
- -
-1.66
0.23
-0.41
-0.11
0.42
-0.47
0.21
Basic EPS, GAAP
- -
- -
-1.28
-0.58
-2.55
-3.33
-1.18
-0.39
-0.94
Free Cash Flow per Basic Share
- -
- -
0.06
- -
- -
- -
0.02
0.06
0.04
Dividend per Share
- -
- -
0.59
0.79
0.42
0.32
0.72
0.35
0.75
Book Value per Share
- -
- -
4.85
5.03
11.66
11.92
11.82
15.58
11.88
Tangible Book Value per Share
- -
- -
387
391
428
416
426
443
426
Basic Weighted Avg Shares
136
269
425
494
417
1,251
1,768
1,465
1,650
Sales/Revenue/Turnover
5.55
-56.92
-142.18
16.99
-53.91
-5.29
9.97
-5.3
5.18
Operating Margin (%)
52
80
107
132
146
223
349
364
- -
Depreciation Expense
-42
-201
-642
90
-176
-46
179
-208
88
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
-30.95
-74.73
-151.03
18.21
-42.13
-3.66
10.13
-14.22
5.34
Profit Margin (%)
-663
-175
870
866
3,001
1,500
1,582
3,753
1,951
Working Capital
315
239
- -
1
3
15
86
357
315
LT Debt
-19
499
2,133
2,222
5,250
5,227
5,313
7,175
5,330
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
33.32
-71.91
-29.5
81.58
-90.56
31.91
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
614
660
629
LT Borrowings
86
265
315
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
430
430
430
Market Capitalization
21,457
26,406
24,937

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
3,125
3,350
3,506
Cash, Cash Equivalents & STI
1,239
1,475
1,631
Accounts Receivable, Net
520
530
519
Inventories
1,022
1,033
1,051
Total Current Liabilities
1,543
1,553
1,555
Payables & Accruals
- -
- -
- -
ST Debt
614
660
629
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
35.34%
35.05%
Free Cash Flow
- -
45.39%
-65.6%
Net Income, GAAP
- -
-238.25%
-216.36%
Sales/Revenue/Turnover
- -
44.96%
-17.15%
Total Cash Common Dividend
- -
- -
276.24%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
426
486
369
487
1,768
2025
408
386
353
- -
1,465
2026
366
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.11
- -
- -
- -
0.42
2025
0.02
- -
- -
- -
-0.47
2026
-0.13
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.02
2025
0.01
- -
- -
- -
0.06
2026
0.01
- -
- -
- -
- -
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Business
SICC Co., Ltd. (688234.SS) engages in the research, development, production, and sales of silicon carbide (SiC) substrate materials principally in China and internationally. The company offers conductive SiC substrates, including n-type and p-type variants in sizes from 6-inch to 12-inch; semi-insulating SiC substrates, also spanning 6-inch to 12-inch diameters; and emerging optical-grade SiC products, serving applications in power electronics such as electric vehicles, photovoltaics, energy storage, power grids, and rail transportation; microwave electronics including 5G communications and advanced telecommunications base stations; as well as AI data centers, AI glasses, smartphones, semiconductor lasers, and optical waveguides. Founded in 2010 and headquartered at No. 99 South Tianyue Road, Huaiyin District, Jinan, Shandong Province, China, SICC operates manufacturing facilities in Jinan and Shanghai, with exports to global markets and a workforce of approximately 1,322 employees. In recent developments, SICC introduced the industry's first 12-inch SiC substrates in November 2024, followed by announcements in 2025 of 12-inch offerings across n-type, semi-insulating, and p-type products; launched high-quality low-resistance p-type SiC substrates in November 2024 to support high-voltage applications like smart grids and SiC-IGBT devices; entered a strategic cooperation agreement in July 2025 with Sunny OmniLight NanoOptics Co., Ltd. to advance SiC applications in micro-nano optics; signed a memorandum of understanding in August 2025 with Toshiba Electronic Devices & Storage Corporation to collaborate on improving SiC power semiconductor wafer quality and expanding stable supply; and successfully listed H shares (2631.HK) on the Hong Kong Stock Exchange in August 2025 following CSRC approval in June 2025, enhancing its internationalization and financing capabilities.