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Shengxin Materials Surges 80% on Emerging Market Debut Amid Taiwan Stock Market Sell-off

Electronic Technology · Semiconductors · economic_daily · 2026-10-15

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Despite a massive 1,600-point drop in the Taiwan stock market, silicon carbide manufacturer Shengxin Materials defied the trend during its emerging stock market debut.

What Happened

Market Performance: The Taiwan stock market faced significant downward pressure on the 15th, with the weighted index plunging over 1,600 points and breaking below the monthly moving average. Amidst this broad market decline, silicon carbide specialist Shengxin Materials made its debut on the emerging stock board, surging as much as 80% from its subscription price of 35 TWD.

Core Business: Shengxin focuses on the R&D and manufacturing of silicon carbide (SiC) ingots and substrates, targeting high-growth sectors such as AI data centers, electric vehicles, and renewable energy. The company has recently showcased domestic 12-inch SiC crystal technology, aiming to solidify its position in the high-end power semiconductor supply chain.

Shareholder Structure: The company boasts a strong backing from major industry players, with Foxconn Group holding a 6.98% stake through its investment arm. Other key shareholders include Guang Yun and Tai-I, with the latter serving as the largest shareholder, reflecting significant strategic interest in the company's technical roadmap.

Operational Outlook: While Shengxin remains in an early-stage expansion phase with ongoing losses, its revenue has shown strong momentum with a 138% year-over-year increase through September. Future success hinges on the company's ability to scale production of large-diameter substrates and secure critical customer certifications to drive profitability.

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