3年亏超8亿元！基本半导体递表港交所，经营现金流持续“失血”

Group 1 - The core viewpoint of the news is that Shenzhen Basic Semiconductor Co., Ltd. has submitted its listing application, indicating its intent to go public and raise capital for its operations in the silicon carbide power device sector [1] - Basic Semiconductor was established in 2016 and specializes in the research and industrialization of silicon carbide power devices, with headquarters in Shenzhen and R&D centers in multiple locations including Beijing, Shanghai, and Japan [1] - The company has experienced significant losses over the reporting period from 2022 to 2024, with cumulative losses amounting to approximately 821 million yuan [2] Group 2 - Revenue figures for Basic Semiconductor during the reporting period are approximately 117 million yuan for 2022, 221 million yuan for 2023, and 299 million yuan for 2024, reflecting a compound annual growth rate of 59.9% [2] - The company has reported losses of approximately 242 million yuan, 342 million yuan, and 237 million yuan for the respective years, indicating ongoing financial challenges [2] - The revenue from distributors has shown a downward trend, with income from this channel being 41.8 million yuan, 68.6 million yuan, and 75.8 million yuan over the same period, while the number of distributors decreased from 169 to 141 [4] Group 3 - Basic Semiconductor's customer concentration is high, with revenue from the top five customers accounting for 32.2%, 46.4%, and 63.1% of total sales during the reporting period [5] - The company employs a combination of direct sales and distribution channels, with approximately 30% of revenue coming from distributors, which helps to quickly establish regional sales networks [2][4] - The company has been investing heavily in R&D, with expenditures of 59.4 million yuan, 75.8 million yuan, and 91.1 million yuan over the reporting period, representing 50.8%, 34.4%, and 30.5% of total revenue respectively [6][7] Group 4 - Basic Semiconductor's operating cash flow has been negative, with net cash used in operating activities reported as -307 million yuan, -120 million yuan, and -24.1 million yuan for the respective years [6][7] - The company emphasizes that its strategic investments in R&D, despite leading to losses, are intended to create unique competitive advantages and drive technological progress [6] - As of the end of 2024, Basic Semiconductor holds 163 patents and has submitted 122 patent applications, showcasing its commitment to innovation [6]