On July 14, BASiC Semiconductor fell 6.19% in regular trading, trading at HK$36.8/share, with turnover of HK$5.21 million.

The decline follows a sharp rally in the previous session, when the stock surged over 18% and touched an intraday high of HK$40.5 after the company announced it would raise prices on certain products by up to 25% starting from the third quarter. The price adjustment was attributed to sustained demand growth driven by artificial intelligence and new energy vehicle applications, which have maintained tight supply-demand dynamics in the silicon carbide industry. With the positive catalyst fully priced in during the prior session, short-term profit-taking funds concentrated their selling pressure on the stock.

Additionally, the global semiconductor sector remains under pressure, with the Philadelphia Semiconductor Index continuing to pull back amid hedge fund de-risking in chip hardware names for a fourth consecutive week, further weighing on sentiment toward recently listed semiconductor stocks.

BASiC Semiconductor listed on the Hong Kong Stock Exchange on July 8 at an offer price of HK$31.62 per share, becoming the first pure-play SiC chip company on the HKEX. The company is a vertically integrated manufacturer covering SiC chip design, wafer fabrication, and module packaging.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)