China Resources Microelectronics (CRM) reported H1 2026 revenue of RMB 6.13 billion ($859M) , up 17.4% year‑on‑year, with net profit jumping 113.2% to RMB 722M. Core operating profit (ex‑non‑recurring) rose 51.5% to RMB 414M, and operating cash flow climbed 95.1% to RMB 1.39B – signaling a solid fundamental recovery.
Key growth drivers:
4th‑gen SJ‑MOS revenue soared 255% , driven by server power, EV charging, and industrial applications.
8‑inch IGBT sales grew 119% , with wind/solar/storage and industrial control contributing 80% of IGBT revenue; 12‑inch IGBT entered volume production.
32‑bit MCU rose 29%, while display‑control MCU jumped 400% on smart appliance and terminal demand.
Vehicle‑grade OBC half‑bridge modules entered mass supply; commercial‑vehicle main‑drive IGBT and SiC modules are now in stable delivery.
Capacity ladder: 8‑inch IGBT drives current earnings; 12‑inch MOSFET is scaling; 12‑inch IGBT (650V‑1200V G7 platform) is the next growth engine, cutting per‑chip cost and enabling stable large‑volume supply to key clients.
Emerging bets: CRM is pivoting to AI server power (SJ‑MOS qualified, SiC MOS in sampling, GaN platforms in market ramp), and expanding into robotics and low‑altitude economy via MOSFET and motor‑control MCU. Automotive electronics passed AEC‑Q100 for ultrasonic driver ICs, with multiple tier‑1 qualifications.
ICgoodFind Takeaway:
CRM’s H1 beat confirms high‑voltage MOS and IGBT are in a sweet spot. AI power and EV segments are next in line to convert design‑ins into revenue – worth watching closely.
