onsemi raises prices again today; power-chip lead times top 30 weeks and CR Micro may follow
onsemi's increases take effect on October 10, joining TI, Renesas and STMicro in a global power-chip repricing. China's CR Micro has raised prices twice this year and drawn a October 9 Buy upgrade from China Post; its third-quarter report, due late October, is the first clean test of whether the wave reaches Chinese bottom lines faster than rising costs and new capacity.
Vincent Jiang · 3 min read
onsemi's new prices start today
onsemi's−2.28% — onsemi, down 2.28 percent today second price increase of the year takes effect today, covering rising raw-material, manufacturing, energy and infrastructure costs 1. The company expects the industry's high-price regime to hold through 2027 1. Infineon, Texas Instruments−1.35% — Texas Instruments, down 1.35 percent today and STMicroelectronics have all raised prices this year, with ST's third increase effective August 23 23. Renesas, which has already lifted prices twice this year, announced another on September 9, effective January 1, 2027 24. Lead times on mainstream power chips have stretched from 8–12 weeks to more than 30 5.
A Buy upgrade lands on two banked hikes
China Post upgraded CR Micro−0.23% — CR Micro, down 0.23 percent today (688396.SS) to Buy on October 9, citing high-end product volume from its 12-inch line 6. The company designs and makes its own power chips, and it has raised prices twice this year, in February and again from July 1, the second round starting at 15% across the whole lineup 78. February's round met low acceptance; by July, some customers were offering to pay up just to lock supply 7.
First-half revenue rose 17.44% to RMB 6.128 billion and net profit more than doubled to RMB 722 million, with fabs running near full 7. Q2 set a single-quarter revenue record of RMB 3.271 billion at a 27.61% gross margin, though profit growth cooled to 53.53% from the half's 113.23% 7. Chairman He Xiaolong tied the demand to AI's power bill, with silicon-carbide revenue up 148% 7. Finance chief Wu Guoyi did not rule out a third hike this half; channel checks pencilled one in for late September or early October 79.
CR Micro's H1 profit grew more than six times as fast as sales
Data
| Value | |
|---|---|
| Manufacturing & services | 11.72% |
| Total revenue | 17.44% |
| Products & solutions | 23.18% |
| Operating cash flow | 95.13% |
| Net profit | 113.23% |
Buyers stopped shopping on price
The shift is measurable. Customers no longer use price as their first yardstick, finance chief Wu Guoyi says; they weigh supply stability, delivery and reliability 7. Roughly 10% of downstream customers accepted the increases in the first quarter; by the second it was 50–60% 9.
Customers accepting CR Micro's hikes went from about one in ten to half or more
- Low end
- High end
Data
| Low end | High end | |
|---|---|---|
| Q1 2026 | 10% | 10% |
| Q2 2026 | 50% | 60% |
Broker tracking sees third-quarter blended prices up 6–7%, with wind, solar, storage and industrial equipment up 15–20% 9. Order visibility stretches to nine months, the backlog is at a record, and first-half operating cash flow of RMB 1.391 billion, up 95%, says the profit is cash-backed 7.
The same boom funds the capacity that could end it
Precious-metal target costs have doubled and silicon wafers are 60% of the input bill 9. Supply is being financed at the top of the cycle: CR Micro's Shenzhen 12-inch line reached 25,000 wafers a month in June 7.
Guangzhou foundry CanSemi (301660.SZ) closed a ChiNext IPO oversubscribed about 2,360 times online, raising RMB 6.16 billion 10. The money goes toward a third 12-inch line budgeted at RMB 16.25 billion, even though the company lost RMB 1.14 billion in the first half 10. Hua Hong, three rounds into its own increases, is already meeting customer resistance to another 9. The buyers who traded price for supply security are bankrolling the fabs that could end the shortage.
The tell lands in late October
CR Micro filed last year's third-quarter report on the evening of October 30, so this year's is due within weeks 11. China Post has already voted with its Buy rating 6. Two numbers decide it for everyone else: the blended price the July round actually commands, and whether gross margin clears 27.61% against doubled precious-metal target costs 79.
Deepdive
AI-generated from this story and its cited sources. Not investment advice.
