On January 25, STMicroelectronics released its full-year 2023 financial results. According to the financial report, STMicroelectronics' net revenue for the full year of 2023 is 172900 million US dollars (equivalent to about 124.1 billion yuan), with a growth rate of 72%。；Gross margin was 479%；Operating margin was 267%, net profit 42100 million US dollars (equivalent to about 30.2 billion yuan).
Among them, STMicroelectronics' silicon carbide (SiC) product revenue reached 11400 million US dollars (equivalent to about 8.2 billion yuan), an increase of more than 60% over 2022.
On the business front, JMicroelectronics CEO Jean-Marc Chery said at the conference that the company has about 160 Design-win projects across more than 100 customers by the end of 2023, including automotive agreements and a partnership with Airbus on aircraft electrification. This strengthens the company's confidence in achieving the goal of achieving SIC product revenue of US$2 billion (equivalent to about 14.4 billion yuan) in 2025.
On the SiC manufacturing side, ST added front-end equipment to its facilities in Catania and Singapore, and increased back-end manufacturing capacity at its facilities in Morocco and China. In addition, the start of production of a new integrated SiC substrate plant at its Catania plant is an important step in the company's SIC vertical integration strategy.
In 2023, the company also announced a joint venture with Sanan Optoelectronics for the large-scale production of 200mm SiC wafers in China, which is expected to start production in the second quarter of 2024.
These important initiatives will further expand ST's global SIC manufacturing operations, and they will also be key enablers in achieving the company's goal of reaching US$5 billion (approximately 35.9 billion yuan) in SIC revenue by 2030.