On September 12, the 2026 Supplier Conference of Shenzhen Megmeet Electrical Co., Ltd. (Stock Code: 002851) was held in Changsha.
"Expert Talk on 3rd Generation Semiconductors" observed that Megmeet mainly revealed two highlights at this conference:
The procurement order amount for 2026 reached as high as CNY 8.3 billion, and the procurement volume is expected to reach CNY 25 billion by 2029, covering products such as SiC and GaN;
Megmeet also announced the list of strategic partners, including multiple SiC and GaN manufacturers such as Infineon, Wolfspeed, CR Micro, STMicroelectronics, Novosense, Yangjie Technology, and Silan Microelectronics.
Expected Procurement Volume to Reach CNY 25 Billion by 2029, Cooperation Achieved with Multiple SiC/GaN Manufacturers
At the conference, Zhu Di, General Manager of the Supply Chain Management Center of Megmeet, proposed strengthening supply and demand coordination through information sharing and rolling plans, coordinating material reserves and capacity guarantee, promoting overseas local procurement and delivery coordination, and disclosed Megmeet's expected procurement demand for the next three years.
It was revealed that Megmeet's procurement volume in 2026 is expected to be CNY 8.3 billion, increasing to CNY 25 billion by 2029, with a compound annual growth rate (CAGR) of approximately 45%. Specifically, its planned procurement product categories will cover power semiconductors such as high-voltage/current-sharing SiC and high-frequency/bidirectional GaN, as well as structural parts, electrolytic capacitors, and other multiple product types.
The substantial increase in Megmeet's procurement amount is driven by the strong demand for AIDC. Megmeet stated that as the power of power supply solutions increases from 120kW to 500kW, system complexity has significantly risen, and the usage of most core components has shown substantial growth. For example, the demand for switching devices such as MOSFETs in a single 120kW cabinet is about 2,688 units, while a 500kW cabinet requires 5,238 units. The usage of PCBs, control chips, connectors, magnetic components, and structural parts will also increase significantly with the power upgrade, so the procurement amount will maintain steady growth.
In addition, Megmeet also announced the lists of multiple awards including strategic partners and the Best Delivery Award. Multiple SiC/GaN manufacturers such as Infineon, Texas Instruments, Wolfspeed, CR Micro, STMicroelectronics, Renesas Electronics, Novosense, Jilin SinoMicro, Yangjie Technology, onsemi, and Silan Microelectronics were "on the list".
Infineon
In March this year, according to Infineon's official WeChat account, by adopting CoolMOS™ 8 MOSFETs, 80V and 100V OptiMOS™ 6 devices, and second-generation 650V CooSiC™ MOSFET technology, Megmeet has not only achieved Titanium Plus efficiency certification, but also significantly improved power density and cost-effectiveness compared to previous generations.
Infineon Technologies AG is a global leading semiconductor solution provider headquartered in Germany, providing chip and system solutions for business areas such as automotive electronics, industrial power control, and power management; relying on its global R&D and manufacturing network in Dresden, Villach, and Kulim, Malaysia, Infineon is vigorously promoting the development of wide bandgap semiconductors such as SiC and GaN to meet the strong demand for AI data centers, green energy, and smart mobility.
Silan Microelectronics
Silan Microelectronics focuses on the design, manufacturing, and packaging of silicon semiconductors and compound semiconductor products. It can provide customers with high-quality silicon-based ICs, discrete devices, and compound semiconductor devices (LED chips and finished products, SiC and GaN power devices). Currently, it has established a complete IDM model, integrating the entire industry chain of "chip design, chip manufacturing, and chip packaging."
CR Micro
The main business of CR Micro includes the design, production, and sales of power semiconductors, intelligent sensors, and intelligent control products, as well as providing manufacturing services such as open foundry and packaging & testing. Currently, CR Micro has achieved important breakthroughs in both its SiC and GaN product series and market supply.
In the first half of 2026, CR Micro's SiC business achieved a year-on-year revenue growth of more than double, with continuous optimization of its business structure, among which the revenue proportion of automotive and energy storage terminals reached a total of 85%. The third and fourth-generation D-mode GaN series products are widely used in mobile phone fast charging, TVs, displays, and adapters.
Novosense
Novosense is a company dedicated to solving high-performance and high-reliability analog and mixed-signal chips. Since its establishment in 2013, the company has focused on three major directions: sensors, signal chains, and power management, providing rich semiconductor products and solutions for automotive, industrial, information & communications, and consumer electronics fields. Currently, Novosense's SiC isolated drivers have achieved large-scale shipments in automotive OBC, charging piles, and photovoltaic markets; AI server GaN drivers are shipped in large quantities.
Wolfspeed
Wolfspeed is a US company focusing on wide bandgap semiconductors, formerly known as Cree, and was renamed in 2021. Headquartered in Durham, North Carolina, the company's core business focuses on SiC materials and power devices, providing SiC materials, power modules, discrete power devices, and bare die power products for various applications.
STMicroelectronics
Founded in 1987, STMicroelectronics is a top-ranked global semiconductor company operating under the IDM model. STMicroelectronics has been deployed in the SiC field for many years. Regarding capacity supply, it adopts a vertically integrated model, establishing a global SiC production network. It has deployed 8-inch fabs in Catania, Italy, and Chongqing, China. In the second quarter of 2026, its SiC operating revenue achieved an approximately double-digit year-on-year growth compared to the same period last year.
onsemi
onsemi is a global leading intelligent power and intelligent sensing technology supplier headquartered in Scottsdale, Arizona, USA, focusing on the automotive, industrial, and AI data center markets. onsemi's SiC business is centered around the EliteSiC™ brand. They revealed in their Q2 FY2026 financial report that SiC performance in the AIDC and Chinese automotive markets was outstanding, expecting a full-year growth of 60% or more.
Texas Instruments
Texas Instruments (TI), founded in 1930 and headquartered in Dallas, USA, is a global leading analog and embedded processing chip company. TI started investing in GaN R&D in 2010 and launched mass-produced GaN devices in 2016. To verify long-term reliability, TI has conducted a cumulative total of over 80 million hours of reliability testing on its GaN FETs, as well as over 5GWh of power conversion application scenario testing. These devices have also been widely deployed in industrial and automotive applications.
PI
According to PI's official WeChat account, they won the "Best Delivery Award" with their stable performance of zero overdue deliveries throughout the year. For a long time, PI has maintained deep strategic coordination with Megmeet. Its power solutions are widely used in core fields of home appliances and industrial power supplies, covering medical power supplies, OA office equipment power supplies, and TV power supplies. At the same time, it steadily empowers emerging application scenarios of AIDC auxiliary power supplies, providing solid support for the stable mass production and performance upgrade of multi-category terminal products.
Power Integrations is a technology innovation company focusing on high-voltage power conversion in the semiconductor field, deeply cultivating high-voltage GaN technology and application innovation. In August this year, it launched 2200V GaN technology, which can provide sufficient voltage margin for high-voltage power systems such as next-generation AI data centers and NEVs, while achieving high switching frequency to meet the design requirements for maximizing power density.
Renesas Electronics
Renesas Electronics is a semiconductor solution supplier headquartered in Tokyo, Japan. Its core business focuses on embedded processors, analog, power, and connectivity products. It acquired Transphorm in 2024 and launched multiple 650V GaN FET products, focusing on high-power markets such as AI data centers, EVs, and renewable energy. Currently, they are building their second self-owned GaN fab, transitioning the production line from the current 6-inch to 8-inch.
Yangjie Technology
Yangjie Technology is a domestic semiconductor IDM manufacturer. Its product line covers discrete device chips, MOSFETs, IGBT & power modules, SiC, rectifier devices, protection devices, small signals, etc., which are widely used in numerous fields such as AI data centers, embodied intelligence, automotive electronics, clean energy, 5G communications, smart homes, industrial, and consumer electronics. It was listed on the Shenzhen Stock Exchange on January 23, 2014.
Jilin SinoMicro
Jilin SinoMicroelectronics Co., Ltd. is a mixed-ownership listed company with relative holding by state-owned capital, and a national high-tech enterprise integrating power semiconductor chip design, processing, packaging, testing, and product marketing under the IDM model. Its core products include IGBT (Insulated Gate Bipolar Transistor), MOSFET (Field-Effect Transistor), IPM (Intelligent Power Module), PM (Power Module), SiC MOSFET (Silicon Carbide MOSFET), SiC SBD (Silicon Carbide Schottky Barrier Diode), etc.
Megmeet Actively Introduces SiC/GaN Technology, Landing in Multiple Application Scenarios such as Drones and Charging Piles
AI data centers are currently the most important performance driver for Megmeet.
In the first half of 2026, Megmeet achieved an operating revenue of CNY 6.061 billion, a year-on-year increase of 29.68%; it achieved an operating profit of approximately CNY 273 million, a year-on-year increase of 27.03%. Among them, benefiting from the explosion of power supply demand for AI data centers, the company's power product sales revenue reached CNY 1.841 billion, a year-on-year growth of 60.92%, accounting for 30.38% of the total operating revenue.
It is reported that Megmeet is one of the few domestic power supply manufacturers that have achieved breakthroughs in the overseas leading computing power ecosystem. It has entered the supply chain system of core customers and completed certifications and project introductions for key customers such as NVIDIA. Currently, they have achieved comprehensive coverage and docking with clients across the upstream, midstream, and downstream of the global industry chain (i.e., full coverage of the three ends: technical solution leaders, system integration manufacturers, and terminal Internet cloud providers) and have gradually formed supply access, and have successively achieved continuous batch delivery since the first quarter of 2026.
In terms of the introduction of third-generation semiconductors, in late 2025, Megmeet successively mentioned in public documents that they are promoting the R&D of projects such as AI server power supplies, high-density network power systems, and communication power supplies, and will adopt SiC/GaN power devices to improve power density and conversion efficiency.
In addition to data centers, Megmeet has actively introduced SiC and GaN technologies in multiple application markets and has entered the stage of large-scale implementation and multi-scenario penetration:
EV Charging Piles: According to Lingang Science and Technology City, at the end of 2019, Inventchip Technology's SiC diode products were certified by Megmeet and started small-batch verification trial production. After half a year of production practice, Megmeet agreed that Inventchip Technology's product series could gradually and comprehensively replace imported devices on the charging module product line, entering the stage of batch procurement. At the same time, Inventchip Technology is also an external equity investment enterprise of Megmeet.
LED Display Power Supplies: In June 2026, Megmeet announced the launch of the MCGP300WS series GaN power supplies to meet the trend of continuous iteration towards high brightness, high density, and low power consumption in the LED display industry.
On-board Power Supplies: In August 2026, according to the "Announcement of Transaction Results for the Procurement of GaN On-board Power Supply Vehicle Matching Technology and On-board Bidirectional Charger Integrated DC/DC Converter Technology" released by FAW Car Co., Ltd., Megmeet successfully won the bid.
Founded in 2003, Megmeet has built a product system of "core components + software + system solutions" around three core technology platforms: power conversion technology, digital power control technology, and system control & communication technology, forming six major business segments: power supplies, NEV transportation, industrial automation, smart life, intelligent equipment, and magnetic & electrical precision manufacturing.
In March 2017, Megmeet was listed on the Shenzhen Stock Exchange. As of the market close on September 14, 2026, its total market capitalization was approximately CNY 69.856 billion. In June 2026, Megmeet submitted its prospectus to the Hong Kong Stock Exchange, planning to IPO on the Main Board of Hong Kong to create an "A+H" dual listing layout.
This article is published by [Expert Talk on 3rd Generation Semiconductors], focusing on industry observation of third-generation semiconductors (SiC and GaN).