Shares of Basic Semiconductor (09971) commenced trading today, opening significantly higher. The company had set its final offer price at HK$31.62 per share. The public offering involved 27.3862 million shares, with a board lot size of 200 shares. The net proceeds from the offering are approximately HK$766 million.

In early trading, the stock rose 7.91% to HK$34.12, with a turnover exceeding HK$204 million.

Public information indicates that Basic Semiconductor is a player in China's third-generation semiconductor power device sector, focusing on the research and development, manufacturing, and sales of silicon carbide (SiC) power devices. The company was among the first in China to mass-produce and deliver SiC products for the new energy vehicle market, which represents the largest end-use application for SiC semiconductors.

According to industry data, based on 2024 revenue, Basic Semiconductor ranks sixth in China's SiC power module market with a 2.9% share, placing it third among domestic Chinese companies. Furthermore, the company holds the ninth position in both China's SiC discrete device market and the power semiconductor gate driver market for 2024, with market shares of 2.7% and 1.7% respectively.