Recently, Zhanxin Electronics, a company specializing in providing silicon carbide power devices and chip - based solutions, declared the successful completion of its Series C financing round. The total amount raised in this round exceeds 1 billion yuan, and the company has also finished the relevant industrial and commercial registration modifications.

This financing round was spearheaded by the National Development Fund for Manufacturing Transformation and Upgrading. Several well - known institutions, such as CICC Capital, Beijing Green Energy and Low - Carbon Industry Fund, also took part in this investment.

The capital raised will mainly be allocated to Zhanxin Electronics' capacity expansion of silicon carbide production, product development, daily operations, and marketing initiatives. The goal is to improve product performance and bolster the company's competitiveness in the market.