New stock news | Basis Semiconductor's Hong Kong IPO prospectus invalid

Shenzhen Basic Semiconductor Co., Ltd. (referred to as Basic Semiconductor) submitted its Hong Kong IPO prospectus on May 27, which expired after 6 months on November 27. When submitting the application, CITIC SEC, Sinolink (Hong Kong) Limited, and BOC International acted as its joint sponsors. According to the previous prospectus, Basic Semiconductor is a leading enterprise in China's third-generation semiconductor power device industry, focusing on research, development, manufacturing, and sales of silicon carbide power devices. As a pioneer in this field, the company is the only one in China that integrates silicon carbide chip design, wafer manufacturing, module packaging, and gate drive design and testing capabilities. The sales volume of Basic Semiconductor's silicon carbide power modules increased from over 500 in 2022 to over 30,000 in 2023, and further increased to over 61,000 in 2024.