Cedarlake Capital's portfolio company, SICC Co., Ltd. ("SICC"), made its debut on the Science and Technology Innovation Board (STAR Market) on January 12, 2022 under the ticker "688234" and the stock abbreviation "SICC."

Founded in 2010, SICC is a leading manufacturer of wide-bandgap semiconductor substrates, specifically third-generation semiconductor materials in China.  The company has been focusing on the R&D, production and sales of silicon carbide (SiC) substrate material, which are essential components for microwave electronics and power electronics. These substrates are projected to be instrumental in industries such as 5G, electric vehicles, renewable energy, and defense, indicating a significant growth path for the semiconductor industry.

In the face of technological blockades and export controls imposed by certain developed nations, SICC has achieved a proprietary technological advancement with its semi-insulating silicon carbide substrates. This milestone enhances the self-reliance of China's strategic materials, ensuring a stable domestic supply and fostering the sustained development of the nation's wide-bandgap semiconductor industry. SICC's products are already being supplied in bulk to key downstream clients within China's silicon carbide semiconductor sector and have also gained recognition from prominent international semiconductor companies. In the conductive silicon carbide substrate market, SICC's 6-inch products are in the sampling phase with a number of esteemed global customers.

Green technology has always been a focus of Cedarlake Capital's investment strategy. The investment in SICC has created synergies with the eco-system of Cedarlake, in particular, with companies in the EV makers, major vehicle manufacturers and chip makers.  The IPO of SICC marks a milestone in advancing the self-sufficiency of China's semiconductor materials sector and is poised to significantly contribute to the growth of the country's advanced materials and semiconductor industries.