Shenzhen Basic Semiconductor Co., Ltd. (Basic Semiconductor) saw its Hong Kong IPO prospectus lapse on November 27 after the six-month validity period expired. The company had initially submitted the application on May 27, with CITIC Securities, Guojin Securities (Hong Kong), and BOCI acting as joint sponsors.
According to the prospectus, Basic Semiconductor is a leading player in China's third-generation semiconductor power device industry, specializing in the R&D, manufacturing, and sales of silicon carbide (SiC) power devices. As a pioneer in the field, it is the only company in China with integrated capabilities spanning SiC chip design, wafer manufacturing, module packaging, and gate driver design and testing.
The company's sales of SiC power modules surged from over 500 units in 2022 to more than 30,000 units in 2023, and further climbed to over 61,000 units in 2024.