Shenyang Xingguang Technical Ceramics Secures Angel Round Financing to Boost SiC Kiln Furniture Layout in Semiconductor and PV Industries

In mid-December 2025, Shenyang Xingguang Technical Ceramics Co., Ltd. (“Xingguang Ceramics”), a leading domestic manufacturer of high-grade silicon carbide products, announced the completion of its angel round financing. This round was exclusively led by Shenyang Shengjing Financial Holding Investment Group Co., Ltd. (“Shengjing Financial Holding”), Shenyang’s state-owned financial capital platform.

Deep Roots in Silicon Carbide Kiln Furniture, Built on Innovation

Founded in 1995, Xingguang Ceramics is a pioneer in China’s high-grade silicon carbide kiln furniture industry. As the country’s first joint venture with Germany’s FCT Feinwerktechnik GmbH, the company has accumulated over 20 years of R&D and manufacturing experience in high-performance silicon carbide products. Its core offerings include recrystallized silicon carbide and silicon nitride-bonded silicon carbide kiln furniture, which serve as critical consumables in high-end industrial firing due to exceptional heat resistance, wear resistance, and thermal shock stability.

Prior to this financing, Xingguang Ceramics had already secured stable market shares across high-temperature alumina & zirconia products, domestic ceramics, lithium batteries, metallurgy, and chemical industries. The company has also proactively expanded into emerging applications, including ceramic membranes for environmental protection, electronic ceramic firing frames, SiC particulate filters, and advanced materials for the semiconductor sector, laying a solid foundation for high-value market penetration.

State-owned Capital Empowers Accelerated R&D and Global Expansion

Established in June 2017 with a registered capital of RMB 21.889 billion, Shengjing Financial Holding is Shenyang’s core state-owned financial capital platform. Its mission is to serve the real economy through equity investment and fund management, supporting regional key industries and tech enterprises — a strategic alignment with Xingguang Ceramics’ development goals.

Proceeds from the angel round will be allocated to two strategic priorities:

• Strengthen R&D: Funding will optimize SiC product performance and accelerate applied R&D for semiconductors and photovoltaics. Amid explosive growth in global semiconductor and new energy industries, high-purity, high-performance SiC kiln furniture has become a key enabler of technological breakthroughs. Xingguang Ceramics aims to seize the window for domestic substitution of semiconductor-grade SiC products.
• Expand Domestic & Global Markets: Capital will reinforce the company’s overseas footprint while unlocking new domestic and international markets, enhancing competitiveness in the global high-grade SiC products sector. This aligns with China’s SiC kiln furniture industry trajectory: the market is projected to exceed RMB 6 billion in 2025, with a CAGR of over 10%, driven primarily by demand from semiconductors and photovoltaics.

Silicon Carbide Kiln Furniture: Riding the Wave of Strategic Emerging Industries

With superior hardness, high-temperature resistance, and wear resistance, silicon carbide ceramics have become essential “hardcore” materials for strategic emerging sectors including new energy vehicles, semiconductors, and aerospace. Provinces and cities across China have included SiC and SiC ceramics in development plans, attracting strong capital interest.

Demand for high-end SiC kiln furniture is particularly robust in semiconductors and photovoltaics. In semiconductors, SiC components are used in critical parts such as diffusion furnace tubes and epitaxial reactor liners, with steadily rising domestic adoption. In photovoltaics, SiC kiln furniture is a core consumable in high-efficiency solar cell manufacturing. Industry reports forecast RMB 1.9 billion in electronic industry demand for SiC kiln furniture in 2025, growing at a CAGR of 12.4%.

Xingguang Ceramics’ focus on recrystallized SiC and silicon nitride-bonded SiC aligns perfectly with industry trends. Driven by stricter environmental policies, silicon nitride-bonded SiC reached a 41% market penetration rate in 2023.

Outlook: Xingguang Ceramics Embarks on a New Global SiC Market Journey

Backed by state-owned capital from Shengjing Financial Holding, Xingguang Ceramics is poised to accelerate technology upgrades and market expansion. Leveraging its deep industry expertise and focus on high-growth semiconductor and PV sectors, the company will further strengthen its position in the global SiC kiln furniture market.

As global demand for high-grade SiC materials continues to surge, Xingguang Ceramics’ strategic layout will benefit from dual drivers of policy support and market demand. Its push for domestic substitution and global expansion will not only boost its own competitiveness but also inject new momentum into China’s advanced ceramic materials industry.