BASiC Semi Passes HKEX Listing Hearing; Ranks Top 10 in Both SiC Discrete Devices & Gate Driver Segments
NewTimeSpace News: BASiC Semiconductor Co., Ltd. passed the HKEX listing hearing on 21 June, with Guojin Securities (Hong Kong) and BOC International acting as joint sponsors. Founded in 2016, the firm focuses on R&D, manufacturing and sales of silicon carbide power devices. Per Frost & Sullivan data based on 2024 revenue, it ranks 6th in China’s SiC power module market with a 2.9% share, and 9th in both China’s SiC discrete device market (2.7% share) and power semiconductor gate driver market (1.7% share). The domestic SiC power device market surged from RMB1.1 billion in 2020 to RMB6.9 billion in 2024 at a CAGR of 59.7%, and is projected to hit RMB42.8 billion by 2029. The market remains highly concentrated, with leading international players capturing over 50% share in both SiC module and discrete device markets.
NewTimeSpace News: On 21 June 2026, BASiC Semiconductor Co., Ltd. cleared the listing hearing of The Stock Exchange of Hong Kong Limited, with Guojin Securities (Hong Kong) Limited and BOC International Holdings Limited appointed as joint sponsors.
Established in 2016, the Group operates across the full value chain of silicon carbide (SiC) power devices in China, covering research, development, manufacturing and sales. Its core product portfolio includes automotive-grade and industrial-grade SiC power modules, SiC discrete devices, and power semiconductor gate drivers.
The domestic SiC power device industry has maintained explosive growth. Market revenue expanded from RMB1.1 billion in 2020 to RMB6.9 billion in 2024, representing a compound annual growth rate (CAGR) of 59.7%. Forecasts indicate the market will sustain a 47.1% CAGR from 2025 to 2029, reaching a total scale of RMB42.8 billion by 2029.
According to industry statistics from Frost & Sullivan measured by 2024 revenue:China SiC power module market: Ranked 6th overall, market share 2.9% (3rd among domestic manufacturers);China SiC discrete device market: Ranked 9th, market share 2.7%;China power semiconductor gate driver market: Ranked 9th, market share 1.7%.
The three core SiC downstream markets are highly concentrated and dominated by global multinational vendors. In 2024, top international suppliers held a 54.6% share of China’s SiC power module market and a 50.0% share of the SiC discrete device market respectively.
Notably, BASiC Semiconductor is the only domestic enterprise integrating full IDM capabilities including SiC chip design, wafer fabrication, module packaging, and gate driver R&D & testing, serving downstream sectors such as new energy vehicles, photovoltaic power generation, energy storage and high-end industrial equipment.
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