New stock news | Basic Semiconductor Hong Kong IPO prospectus failure.

Shenzhen Basic Semiconductor Co., Ltd. (referred to as Basic Semiconductor) submitted its Hong Kong IPO prospectus on December 4, 2025, which expired after 6 months on June 4, 2026, with CITIC SEC, Sinolink (Hong Kong) Limited, and BOC International as its joint sponsors. According to the previous prospectus, Basic Semiconductor is a company in China's third-generation semiconductor power device industry, focusing on the research, development, manufacturing, and sales of silicon carbide power devices. Based on data from Frost & Sullivan, based on revenue in 2024, Basic Semiconductor ranked sixth in the Chinese silicon carbide power module market with a market share of 2.9%, ranking third among Chinese companies. In terms of revenue in 2024, Basic Semiconductor ranked ninth in the Chinese silicon carbide discrete device market and power semiconductor gate driver market, with market shares of 2.7% and 1.7% respectively. These markets are highly concentrated and dominated by a few major international manufacturers. As of June 30, 2025, the company's cumulative shipment volume for energy vehicle products exceeded 110,000 units. The sales volume of Basic Semiconductor's silicon carbide power modules increased from over 500 units in 2022 to over 30,000 units in 2023, and further increased to over 61,000 units in 2024. The sales volume of Basic Semiconductor's silicon carbide power modules increased from over 6,000 units in the six months ended June 30, 2024, to over 25,000 units in the six months ended June 30, 2025.