HK Stock Market Move | BASICSEMI (09971) rose over 8%, silicon carbide MOSFET revenue surged 582%, the company has been active with moves since the second half of the year.

BASICSEMI (09971) rose over 8%, up 7.91% as of press time, at HK$43.38, with a turnover of HK$7.9383 million. On the news front, BASICSEMI achieved revenue of RMB 121 million in the first half of this year, up 15.5% year-on-year. Gross margin improved significantly by 31.6 percentage points, marking a milestone of turning gross margin positive. During the period, industrial-grade silicon carbide power modules grew 2825.1% year-on-year; SiC MOSFET revenue surged 582.3% year-on-year. This means industrial modules and SiC MOSFET revenue grew approximately 876% year-on-year; their share of total revenue rapidly increased from about 3.6% to 30.5%. It is worth noting that the company has been active with frequent moves since the second half of the year. In mid-July, BASICSEMI announced price increases for some products starting from the third quarter, with the maximum increase not exceeding 25%; in late July, it announced plans to expand its Shenzhen silicon carbide module packaging base; in early August, BASICSEMI reached a strategic cooperation with leading wafer foundry Hanlei Technology to accelerate the development and mass production of 8-inch silicon carbide wafers and jointly promote the implementation of a new process platform; and reached a strategic cooperation with UBTECH ROBOTICS, making it the first among silicon carbide companies to lay out in the embodied intelligence track.