New IPO News | 'Semiconductor Power Device Company' Basics Semiconductor has launched its initial public offering and plans to list on July 8, with a minimum subscription amount of HK$6,387.78 per lot

Futu News, June 29: $BASICSEMI (09971.HK)$ The company announced that the subscription period will run from June 29 to July 3. It plans to offer approximately 27,386,200 shares globally, with listing expected on July 8.

Company Overview

Basics Semiconductor is a Chinese company in the third-generation semiconductor power device industry, specializing in the research and development, manufacturing, and sales of silicon carbide (SiC) power devices. According to Frost & Sullivan, the company is the only enterprise in China that integrates SiC chip design, wafer fabrication, module packaging, and gate driver design and testing capabilities. It was among the first domestic companies to mass-produce and deliver SiC products for new energy vehicles—the largest end-market for SiC semiconductors.

The company has an international founding team and R&D team, and through sustained innovation, it has established and solidified its position in the silicon carbide power device industry. According to Frost & Sullivan, as of December 31, 2025, the company holds 170 registered patents and has filed 132 patent applications, with core product performance reaching international benchmark levels.

Financial Summary

For the years ended 2023, 2024, and 2025, Basics Semiconductor reported revenues of RMB 220.6 million, RMB 299.0 million, and RMB 311.2 million, respectively. For the years ended December 31, 2023, 2024, and 2025, the company reported gross losses of RMB 131.6 million, RMB 29.0 million, and RMB 33.9 million, respectively.

The company's research and development expenses increased from RMB 75.8 million in 2023 to RMB 91.1 million in 2024, and further rose to RMB 109.7 million in 2025, representing 34.4%, 30.5%, and 35.3% of the company's total revenue in the respective years.

Source: Prospectus

Use of Proceeds

Regarding the use of proceeds, Basic Semiconductor expects net proceeds of approximately HKD 713 million from the global offering (based on the mid-point of the offer price range at HKD 29.56 per share). According to the prospectus, Basic Semiconductor intends to allocate the proceeds from the global offering as follows:

Approximately 60% will be used over the next four years to expand the company’s wafer and module production capacity and to purchase and upgrade production equipment and machinery; approximately 20% will be allocated over the next five years to research and development of new silicon carbide products and technological innovation; approximately 10% will be used over the next five years to expand the company’s global distribution network for silicon carbide products; and the remaining 10% will be used for working capital and other general corporate purposes.

Further reading:Basic Semiconductor Prospectus

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