[quote="liu_wanqing, post:1, topic:1123"]
Let's look at some data: 3.2 billion in fundraising, over 6 years, ultimately 90% used to replenish working capital, stock price down nearly 40% in 8 trading days. Luxiao Technology's (002617.SZ) silicon carbide project has turned from a former "10-billion blueprint" into just a few lines in a termination announcement.
As a newcomer who just entered the industry doing wide-bandgap semiconductor device simulation, I've recently been reading a paper on the impact of SiC substrate defects on device yield. After seeing this case with Luxiao, I only had one feeling: in this industry, the gap between PowerPoint presentations and actual papers is bigger than the micropipe density in substrates.
In the short term, Luxiao Technology's problems are typical. In 20…
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Technical feasibility isn't the issue, but industrialization can't be achieved just by piling up funding and second-hand equipment. This case shows that customer willingness to pay is ultimately anchored to yield and cost. No matter how good the PPT is, if the production line can't deliver data, it's useless.
Physix Frontier
