What Fulford Semiconductor does

Fulford Semiconductor, legally Jiangsu Ferrotec Semiconductor Technology Co., Ltd. (江苏富乐华半导体科技股份有限公司) and branded as Ferrotec, is a Chinese manufacturer of copper-bonded ceramic substrates and silicon nitride ceramic pieces used as the thermal-management, electrical-insulation, and mechanical-support backbone of power semiconductor modules. Founded in 2018 in Dongtai, Jiangsu, as a subsidiary of Ferrotec Group (China), the company operates three Chinese production bases (Dongtai/Jiangsu, Shanghai Baoshan, Sichuan Neijiang) plus a Malaysia plant in Johor Bahru that reached structural completion in May 2024, with sales offices in Tokyo, Singapore, and Stuttgart and active selling into 22 countries. The portfolio comprises six core product lines: DCB ZTA (Direct Copper Bonding on zirconium-doped alumina), AMB (Active Metal Brazing on aluminium nitride or silicon nitride), DPC (Direct Plated Copper with 50–70μm line width), DAB (Direct Aluminum Bonded), and two grades of silicon nitride ceramic pieces (85 W/(m·K) and 110 W/(m·K) thermal conductivity). These substrates are qualified under IATF16949 for automotive use and serve new-energy-vehicle IGBT/SiC modules, wind/rail/industrial inverters, 5G RF, optical communication, laser radar, and emerging eVTOL power electronics.

The company's technology stack centers on proprietary ceramic-metallurgy processes developed over what the company describes as 28 years of group-level expertise in power-semiconductor packaging materials, anchored by an R&D team of 82 (including 2 PhDs, a Shanghai University Ph.D. technical lead, and 10+ expert advisors), 510+ patent applications with 283 granted (212 invention patents), and industry-university-research collaborations with Nanjing University of Aeronautics and Astronautics, Shanghai University, Tsinghua University, the Chinese Academy of Sciences, and the 43rd Research Institute of CETC. Fulford claims first-mover localization of DCB, AMB, DPC, and DAB substrates in China, displacing previously dominant Japanese imports, and has received National Manufacturing Single Champion, Unicorn Enterprise, and National IP Strong Country Demonstration Enterprise designations. Manufacturing is highly automated with APQP, PPAP, FMEA, MSA, and SPC quality tools in use, and the company holds ISO9001, ISO14001, ISO27001, ISO45001, QC080000, and UL certifications alongside IATF16949.

Commercially, Fulford sells directly to enterprise customers via a global field-sales motion spanning automotive, industrial, energy, and AI/optical segments, with a quote-based B2B hardware pricing model and multi-year contracts. Named global strategic customers include ON Semiconductor, Infineon, Fuji Electric, and STMicroelectronics (the latter having awarded two Best Supplier Awards), with Xinlian Integrated Circuit awarding a 2025 Excellence in Quality Award; the Malaysia facility was specifically structured to serve Southeast Asia supply-chain proximity for these IDM customers. Revenue is not publicly disclosed despite the company's SSE listing (ticker 602088) under the broader Ferrotec Group; ongoing capacity expansion — a 1.8M-piece/year high-end sputtered substrate project (Phase 1, 318.33M RMB) topping out in December 2025 and a 6M-piece/year Malaysia plant — provides the most concrete scale signal.

Name

Fulford Semiconductor

Legal name

Jiangsu Ferrotec Semiconductor Technology Co., Ltd. (江苏富乐华半导体科技股份有限公司)

Website

https://ftpowersemi.com

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Jiangsu Ferrotec Semiconductor Technology Co., Ltd. (branded Fulford Semiconductor / 富乐华) manufactures copper-bonded ceramic substrates (DCB, AMB, DPC, DAB) and silicon nitride ceramic pieces for power semiconductor packaging, supplying global IDMs across automotive, industrial, renewable energy, and emerging AI/eVTOL applications.

Ownership category

akta.pro rank

Product category

Power Semiconductor Ceramic Substrates

NAICS

Semiconductor and Related Device Manufacturing (334413), Semiconductor and Other Electronic Component Manufacturing (3344)

SIC

Semiconductors & Related Devices (3674), Printed Circuit Boards (3672)

akta.pro primary industry

Leadframes & Package Interconnect Materials (HDAHADAF)

Keywords

• Copper-clad ceramic substrates
• Power semiconductor packaging
• DCB AMB DPC substrates
• Silicon nitride ceramic sheets
• IGBT SiC module materials

Headquarters

HQ city

Dongtai

HQ country

China

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Infrastructure, Operations, Personnel

Revenue model

1. Ceramic Substrate Sales (DCB, AMB, DPC, DAB): Sales of copper-bonded ceramic substrates for power semiconductor packaging. Products are sold as electronic base materials to semiconductor manufacturers and module assemblers.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Fulford Semiconductor manufactures copper-bonded ceramic substrates (DCB, AMB, DPC, DAB) and silicon nitride ceramic sheets used as thermal, electrical, and mechanical base materials for power semiconductor packaging. The company produces six core product lines sold as electronic base materials to power semiconductor IDMs and module assemblers serving electric vehicles, industrial control, renewable energy, rail transit, and AI/data center applications. Manufacturing is performed at facilities in Dongtai (Jiangsu), Shanghai, Sichuan, and Johor Bahru (Malaysia), with products shipped directly to global customers.

Product overview

Fulford Semiconductor (江苏富乐华半导体科技股份有限公司, branded as Ferrotec) is a semiconductor materials company specializing in the R&D, manufacturing, and sales of copper-bonded ceramic substrates and silicon nitride ceramic pieces for power semiconductor packaging. The product portfolio consists of six core product lines: DCB ZTA (direct copper bonding on zirconium-doped alumina), AMB (active metal brazing on aluminium nitride/silicon nitride), DPC (direct plated copper for precision applications), DAB (direct aluminum bonding for high-voltage applications), and two silicon nitride ceramic piece grades (85W and 110W thermal conductivity). These products serve as essential heat dissipation, electrical insulation, and mechanical support materials in semiconductor power modules for new energy vehicles, wind power, rail transport, 5G communication, industrial control, and laser radar applications. The company operates three production sites (Jiangsu/Dongtai, Sichuan/Neijiang, and Malaysia/Johor) and has a high-thermal-conductivity large-power sputtered ceramic substrate project under construction in Dongtai.

Differentiator

Problem solved

Functional benefit

Products and services

• DCB ZTA Copper-Bonded Ceramic Substrate (DCB ZTA覆铜陶瓷载板) Direct Copper Bonding ceramic substrate using zirconium-doped (9%) alumina (ZTA) with thermal conductivity 1.1x and flexural strength 1.7x that of standard alumina. Used in mid-power modules requiring high reliability, such as automotive applications.
• AMB Copper-Bonded Ceramic Substrate (AMB覆铜陶瓷载板) Active Metal Brazing copper-bonded substrate available in aluminum nitride (AlN) and silicon nitride (Si3N4) variants. Offers higher bonding strength and reliability than DCB, suitable for IGBT modules in EVs and locomotives.
• DPC Copper-Bonded Ceramic Substrate (DPC覆铜陶瓷载板) Direct Plated Copper substrate using magnetron sputtering + electroplating for fine-line patterning (50–70 μm line/space). Used in 5G communication, high-power LEDs, RF devices, and hybrid integrated circuits.
• DAB (Direct Aluminum Bonded) Substrate (DAB直接覆铝基板) Direct Aluminum Bonded substrate using diffusion bonding for high-voltage, high-current power devices. Features strong thermal shock resistance and excellent thermal conductivity, applied in hybrid EVs, industrial inverters, wind power, and rail transport.
• 85W Silicon Nitride Ceramic Piece (85W氮化硅陶瓷片) Silicon nitride ceramic piece with 85 W/(m·K) thermal conductivity. Applied in EV battery pack bottom protection, high-voltage DC relay arc-extinguishing materials, and SiC power module base plates for new energy vehicles.
• 110W Silicon Nitride Ceramic Piece (110W氮化硅陶瓷片) High-thermal-conductivity silicon nitride ceramic substrate reaching 110 W/(m·K), achieving simultaneous high thermal conductivity and high flexural strength. Applied in next-generation SiC and IGBT power module packaging.

Quantifiable outcome

• Silicon nitride ceramic thermal conductivity up to 110 W/(m·K), reaching international advanced level
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Ten partnerships are on record, tiered core.

• 南京航空航天大学 (Nanjing University of Aeronautics and Astronautics)coreStrategic or Co-development Partner · 1 January 2024Collaborative project on advanced ceramic packaging materials and packaging technology. Joint research in ceramic substrate materials for aerospace and power semiconductor applications.
• 上海大学 (Shanghai University)coreStrategic or Co-development Partner · 1 January 2024Collaborative project on aluminum nitride ceramic substrate performance research and pilot development for DCB applications. Ferrotec's R&D team led by Dr. Wang Bin, a Ph.D. from Shanghai University.
• 清华大学 (Tsinghua University)coreStrategic or Co-development PartnerMulti-level R&D partnerships established for new materials, material processing, and mechanical design. Part of industry-university-research collaboration network.
• 中国科学院硅酸盐研究所 (Institute of Silicate Chemistry, Chinese Academy of Sciences)coreStrategic or Co-development PartnerMulti-level R&D partnerships for ceramic materials research and development.
• 中国电子科技集团第43研究所 (The 43rd Research Institute of CETC)coreStrategic or Co-development PartnerMulti-level R&D partnerships for semiconductor packaging and materials.
• 安森美半导体 (ON Semiconductor)coreStrategic or Co-development PartnerGlobal strategic customer for ceramic substrates; ON Semiconductor global procurement director attended the Malaysia project topping-out ceremony. Partnership focused on power semiconductor ceramic substrate supply.
• 英飞凌 (Infineon)coreStrategic or Co-development PartnerGlobal strategic customer for ceramic substrates. Infineon collaboration part of global strategy to strengthen Southeast Asia semiconductor supply chain.
• 富士电机 (Fuji Electric)coreStrategic or Co-development PartnerGlobal strategic customer for ceramic substrates, collaborating on automotive and industrial power module applications.
• 意法半导体 (STMicroelectronics)coreStrategic or Co-development PartnerAwarded two Best Supplier Awards by STMicroelectronics, indicating a strong strategic supply partnership.
• FerroTec Group (China) / 杭州大和热磁电子coreOthersParent company. Jiangsu Ferrotec is a key member of FerroTec Group (China), sharing brand, technology platform, and customer network. FerroTec Group provides centralized leadership, shared services, and group-wide R&D synergies.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Resonac (formerly Showa Denko / Toshiba Materials): Resonac is the global leader in silicon nitride and AMB copper-bonded ceramic substrates for power semiconductor packaging, with deep incumbency at major SiC and IGBT module makers including Infineon, ST, and Mitsubishi Electric. Direct overlap with Fulford across the entire DCB/AMB/SiN product portfolio and the same Tier-1 IDM customer base.
• Denka (Tokyo Denki Kagaku Kogyo): Denka is one of the leading Japanese manufacturers of high-thermal-conductivity silicon nitride substrates for automotive power modules, with strong qualifications at major EV OEM power module suppliers. Direct competitor in the SiN substrate category where Fulford claims 110 W/(m·K) parity.
• Maruwa Co., Ltd. Maruwa produces ceramic substrates (DCB, AMB, DPC) and high-thermal-conductivity ceramic materials for power electronics, LED, and RF applications. Direct overlap with Fulford across the full substrate portfolio, particularly in DPC precision substrates for optoelectronics and 5G/RF.
• NGK Insulators: NGK is a major Japanese ceramic substrate supplier with a wide DCB/AMB/SiN portfolio serving global power semiconductor module manufacturers. Direct competitor across multiple product lines, particularly in automotive-grade substrates where NGK has deep qualification history.
• Rogers Corporation (Curamik): Rogers' Curamik division is a leading Western supplier of DCB and AMB ceramic substrates for power semiconductor modules in EV, renewable, and industrial applications. Direct competitor serving the same Western IDM customer base as Fulford.
• KCC (Korea Circuit Company): KCC is a Korean manufacturer of ceramic substrates (DCB/AMB) supplying power semiconductor module makers. Comparable product portfolio and serves a similar customer base across automotive and industrial power electronics.
• Mitsubishi Materials: Mitsubishi Materials manufactures DCB and AMB ceramic substrates as part of its advanced materials business, serving power module manufacturers globally. Direct product overlap with Fulford's DCB/AMB portfolio, particularly in industrial and rail traction applications.

Emerging players

• Shengda Tech (胜达科技): Shengda Tech is a Chinese emerging supplier of ceramic substrates for power semiconductor packaging, positioning itself as a domestic competitor to Fulford in the China localization wave. Comparable product focus (DCB/AMB substrates) and serves overlapping Chinese IDM customers.

Regional players

• BYD Semiconductor: BYD Semiconductor is a vertically integrated Chinese power semiconductor manufacturer that produces IGBT/SiC modules and is exploring internal substrate capabilities. Potential adjacent competitor for ceramic substrate demand from internal captive sourcing within the Chinese NEV supply chain.

Broad incumbents

• Ferrotec Corporation (Japan parent group): Ferrotec Corporation (Japan) is the parent group of Fulford/Ferrotec (China) and operates a global portfolio of semiconductor materials, equipment, and electronic device businesses. Related via the group structure and overlapping ceramic substrate technology, but operates at a much broader conglomerate level.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ferrotec-power-semiconductor-singapore-pte-ltd

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fulford Semiconductor