HK Stock Market Move | BASICSEMI (09971) surged over 8%. The Shenzhen packaging production line base has made significant progress. The company is expanding production immediately after going public to seize the high-growth AI market.

BASICSEMI (09971) rose over 8%, reaching a gain of 6.94% to HKD 48.1, with a trading volume of HKD 12.7053 million as of the time of writing. In terms of news, BASICSEMI recently announced that it has signed a general contract for the engineering project of a silicon carbide module packaging production line base with China State Construction Engineering Corporations Second Engineering Bureau Co., Ltd. This marks a significant step for the company, which has just been listed on the main board of the Hong Kong Stock Exchange as the "first stock in Chinese silicon carbide chips," to rapidly expand its production capacity with the support of capital. The BASICSEMI board believes that signing the general contracting project will benefit the companys future operational strategy and support its ability to meet the growing downstream market demand for new energy vehicles, intelligent computing centers, photovoltaic storage, and more. Notably, BASICSEMI's accelerated capacity construction following its listing coincides with a profound cyclical turnaround and price rise in the silicon carbide industry. Driven by supply and demand shortages, leading international companies like Infineon and STMicroelectronics have begun adjusting prices, with domestic substrate and device manufacturers following suit, pushing the entire industry into a price increase cycle. Recently, BASICSEMI issued a voluntary announcement stating that it will adjust prices for some products starting from the third quarter of 2026, with the maximum increase not exceeding 25%. BASICSEMI's rapid initiation of its expansion plan following its IPO reflects both its accurate assessment of industry trends and its foresight in capacity planning.