JoulWatt — Database · China AI Data

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Overview

JoulWatt Technology was founded in Hangzhou in 2013 and listed on the STAR Market in December 2022. The company designs high-performance analogue and mixed-signal semiconductors, concentrating on highly integrated, high-reliability power management ICs. Its portfolio covers DC-DC, AC-DC, LED drivers and battery management, with applications in computers, industrial control, networking, servers and data centres, automotive electronics, lighting and consumer devices. In AI server multiphase power and DrMOS, it is one of the main domestic substitution candidates.

5Products 1People 7Company links

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Products

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DC-DC converter

Multiphase controllers and DrMOS for server VRMs

AC-DC and PFC

Front-end power conversion for telecom and servers

LED driver

Buck, boost and linear drivers for lighting

Battery management IC

Charging and protection ICs

Server multiphase power solution

Complete VRM solutions for CPU and accelerator rails

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Highlights

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01H1 2026 revenue of RMB 1.72 billion (+44.7% YoY) but a net loss of RMB 520 million, with gross margin at 23.9% and ROE at -39.8%.
02Full-year 2025 revenue of RMB 2.66 billion (+58.2% YoY) with a net loss of RMB 717 million.
03R&D spending reached RMB 633 million in H1 2026 - about 36.8% of revenue - with a debt-to-asset ratio of 76.2%. Growth is being bought with both R&D and leverage.

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