Recently, SICC signed a long-term sales contract, stipulating that SICC and its wholly-owned subsidiary SICC Shanghai will sell 6-inch N-type SiC substrate products to one customer from 2023 to 2025. According to the annual benchmark unit price agreed in the contract (the exchange rate of USD to RMB is 6.7), the total sales amount in three years is expected to reach 1.393 billion yuan (tax included).

The signing of this long-term sales contract provides a strong guarantee for the sales of the 6-inch N-type SiC substrates, which is in line with the future strategic planning and marketing policy of the company. At the same time, the customer has good reputation and ability of performing contract. This contract will have a positive impact on the company's operating revenue and market expansion, and is also an important strategic opportunity for the sustainable development.

SICC will continue to uphold the business philosophy of "Technology, Quality, Sustainability ", seize the development opportunities of N-type substrate market, provide more customers with better products and services, and keep moving forward to the vision of becoming an international famous semiconductor material company.

* For details, please refer to the Company Announcement (Announcement No. 2022-032)