Company Overview - Basic Semiconductor has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities, Guotai Junan Securities (Hong Kong) Limited, and Bank of China International as joint sponsors [1] - The company focuses on the research, manufacturing, and sales of silicon carbide (SiC) power devices, being the only Chinese enterprise that integrates SiC chip design, wafer manufacturing, module packaging, and gate driver design and testing capabilities [1][2] - Basic Semiconductor is one of the first companies in China to mass-produce and deliver SiC solutions for electric vehicles, which is the largest end-use market for SiC semiconductors [1][2] Product Portfolio - The company has developed a comprehensive product portfolio that includes SiC discrete devices, automotive-grade and industrial-grade SiC power modules, and power semiconductor gate drivers [2] - Basic Semiconductor's solutions serve various industries, including electric vehicles, renewable energy systems, energy storage systems, industrial control, data and server centers, and rail transportation [2] Market Position - According to Frost & Sullivan, Basic Semiconductor ranks sixth in the Chinese SiC power module market with a market share of 2.9%, and ranks third among domestic companies [2] - The company ranks ninth in both the Chinese SiC discrete device market and the power semiconductor gate driver market, with market shares of 2.7% and 1.7%, respectively [2] Sales Performance - As of June 30, 2025, the cumulative shipment of products for energy vehicles exceeded 110,000 units, with sales of SiC power modules increasing from over 500 units in 2022 to over 30,000 units in 2023, and further to over 61,000 units in 2024 [3] Financial Performance - The company recorded revenues of RMB 117 million, RMB 221 million, RMB 299 million, and RMB 104 million for the fiscal years 2022, 2023, 2024, and the six months ending June 30, 2025, respectively [4] - Basic Semiconductor reported losses of RMB 242 million, RMB 342 million, RMB 237 million, and RMB 177 million for the same periods [5] - Research and development expenses were RMB 59.4 million, RMB 75.8 million, RMB 91.1 million, and RMB 53.9 million for the respective years [6] Industry Overview - The global SiC power device industry has experienced significant growth from RMB 4.5 billion in 2020 to RMB 22.7 billion in 2024, with a compound annual growth rate (CAGR) of 49.8% [7] - The market is expected to continue growing at a CAGR of 40.5% from 2025 to 2029, reaching approximately RMB 110.6 billion by 2029 [8] - In China, the SiC power device market sales revenue increased from RMB 1.1 billion in 2020 to RMB 6.9 billion in 2024, with a CAGR of 59.7% [8] - The penetration rate of SiC in the Chinese power device market is projected to rise from 0.9% in 2020 to 5.4% in 2024, and is expected to reach 19.0% by 2029 [8][9]
新股消息 | 基本半导体二次递表港交所 专注于碳化硅功率器件的研发、制造及销售
Zhi Tong Cai Jing·2025-12-04 08:39