Leading SiC power device manufacturer Basic Semiconductor officially went public on the HKEX Main Board (09971.HK) on July 8, 2026, claiming the title of Hong Kong's very first SiC stock. Issuing 27.3862 million H shares globally at HK$31.62 each, the firm witnessed a jaw-dropping 4,812.72x oversubscription in its Hong Kong public offering. Netting approximately HK$766 million, the capital injection is earmarked for capacity scaling, equipment modernization, and next-gen SiC R&D, symbolizing a watershed moment for China's third-generation semiconductor sector on the global financial stage.
Established in 2016, Basic Semiconductor operates on a steadfast IDM (Integrated Device Manufacturer) model, maintaining full control from chip design and wafer fabrication to packaging and testing. The company’s portfolio features automotive and industrial SiC modules, discrete devices, and gate drivers, fueling NEVs, renewable energy hubs, and computing data centers. By late 2025, its automotive modules had powered over 140,000 vehicles. Driven by heavy R&D, the firm posted 2025 revenues of RMB 311 million against R&D investments of RMB 110 million (with a net loss of RMB 335 million), squarely reflecting a high-growth tech disruptor in rapid expansion mode.
Basic Semiconductor's HKEX debut secures vital financial ammunition to execute its capacity blueprints and global sales expansion while showcasing the robust competitiveness of Chinese SiC innovators. As NEVs and AI power ecosystems increasingly demand high-efficiency, high-density energy conversion, the company is primed to harness this capital tailwind to fast-track technological upgrades and mass production. As third-generation silicon carbide adoption accelerates globally, this high-profile listing paves the way for a new era of high-quality growth across the domestic power semiconductor supply chain.
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