Silergy (6415 TT) shows positive progress in automotive, data center, and large-scale energy storage

Featured article selection from the brokerage community:

Silergy began shipping BMS AFE to CATL in 2Q26 $CATL (03750.HK)$

Additionally, automotive customers such as BYD and other carmakers are increasingly adopting Silergy's automotive products. Battery customer Sunwoda has also adopted BMS AFE. With Silergy recently obtaining certifications from major automotive parts manufacturers Continental and Bosch, overseas automakers (US, Europe, Japan, Korea) will add Silergy to their bulk procurement lists starting in 2027. The proportion of Silergy's automotive revenue may rise from 14% in 2025 to 40% in 2030. $BYD COMPANY (01211.HK)$

Additionally, the company's power supply products for optical modules in data centers have been adopted by domestic optical module manufacturers, with volume shipments expected in 2026. The revenue contribution from data centers is projected to rise from 7–8% in 2025 to 15–20% in 2026 and 20–25% in 2027 (with 15% already achieved in Q1 2026). Large-scale energy storage products will see significant shipments in the second half of 2026 through Sungrow Power Supply and other manufacturers.

As Silergy’s in-house wafer capacity (Hangzhou Fuxin) continues to ramp up, the company is poised to gain additional market share this year amid insufficient foundry capacity among analog IC peers. Major customers, who prioritize supply stability, have recently been shifting orders to Silergy. Silergy’s revenue could grow 22–25% year-over-year in 2024. In 2027 and 2028, driven by volume production of more new products—especially those for data centers—and increased orders from new customers, its revenue growth may exceed the market’s expectation of 20–25%.

With new products carrying gross margins above the company average, gross margin is expected to improve quarter-over-quarter starting from Q2 2026. In 2027 and 2028, as more high-margin Gen-4 and Gen-5 products enter mass production, EPS could reach RMB 10–11 in 2026, RMB 18–20 in 2027, and RMB 25–30 in 2028, indicating substantial upside potential.

21K Views