Stada Semiconductor's R&D expenses increased by 35.94% last year, with a focus on carrying out the development of next-generation IGBT and other R&D initiatives.

On the evening of March 31, Steda Semiconductor (603290) released its 2025 performance earnings report.

During the reporting period, the company achieved operating revenue of RMB 4.012 billion, a year-on-year increase of 18.34%; attributable net profit to shareholders of RMB 405 million, a year-on-year decrease of 20.2%; and net profit after deducting non-recurring items of RMB 377 million, a year-on-year decrease of 22.64%.

Steda Semiconductor’s main business is the design, R&D, production, and sales of power semiconductor chips and modules mainly based on IGBTs and SiC. Its products are widely used in areas such as new energy, new energy vehicles, industrial control and power supplies, white home appliances, AI server power supplies, data centers, robots, and low-altitude/high-altitude aircraft and UAVs.

In 2025, relying on its core technical strength and industry-leading position, Steda Semiconductor focused on its core business, fully leveraged the advantages of its “Fabless + IDM dual-wheel-driven” business model, and simultaneously advanced the deep integration of driver ICs, industrial-grade and automotive-grade MCU chips with its existing power semiconductor business, continuously enhancing the company’s core competitiveness and long-term development potential.

During the reporting period, Steda Semiconductor’s operating revenue grew steadily and reached a record high. The rapid growth in demand in industries such as new energy vehicles, new energy power generation (wind/solar/storage), and variable-frequency white home appliances provided core support for the company’s revenue growth during the reporting period. At the same time, the company actively expanded into emerging application areas such as AI server power supplies, data centers, industrial robots, and low-altitude/high-altitude aircraft, continuously expanding the boundaries of product applications and opening up new long-term growth space for the company’s business.

Although revenue reached a new high, Steda Semiconductor’s net profit last year declined. According to the performance earnings report, this was mainly due to higher R&D spending and rising costs.

The performance earnings report shows that in 2025, Steda Semiconductor’s R&D expenses increased by RMB 127 million year-on-year, up 35.94%. In 2024, Steda Semiconductor’s R&D expenses were RMB 354 million, up 23.27% from the same period in 2023.

In 2025, Steda Semiconductor continued to increase R&D investment, focusing on R&D for next-generation IGBTs, fast-recovery diodes, SiC MOSFETs, GaN, and other power chips and modules, as well as core products such as driver ICs and industrial-grade and automotive-grade MCUs.

In addition, affected by factors such as intensified competition in some downstream markets and rising raw material costs, Steda Semiconductor’s consolidated gross margin declined last year.

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