On July 8, BASiC Semiconductor rose 8.48% in regular trading, trading at HK$35.08/share with turnover of HK$228 million, on its first day of listing on the Hong Kong Stock Exchange.

The company listed at an offer price of HK$31.62 per share, earning the title of the first silicon carbide (SiC) chip stock on HKEX. The Hong Kong public offering was oversubscribed approximately 4,812.72 times, with a ballot rate of just 0.17%, reflecting exceptional retail investor enthusiasm. The global offering comprised 27.39 million H shares, raising net proceeds of approximately HK$766 million. Joint sponsors were China International Capital Securities (Hong Kong) and BOCI.

BASiC Semiconductor, founded in 2016 and headquartered in Shenzhen, is one of China's first IDM enterprises to mass-produce automotive-grade SiC products. By 2024 revenue, it ranked sixth in China's SiC power module market with a 2.9% share, and third among domestic companies. The company remains in a loss-making phase, reporting a net loss of RMB 3.35 billion for the fiscal year, while SiC power module revenue reached RMB 122 million in 2025, accounting for 39.3% of total revenue.

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