BASiC Semiconductor Co., Ltd. Passes HKEX Listing Hearing, Ranking the 3rd Largest Domestic Player in China’s Silicon Carbide Power Module Market

NewTimeSpace News: BASiC Semiconductor Co., Ltd. passed the Hong Kong Stock Exchange listing hearing on 22 June 2026, with Guojin Securities (Hong Kong) and BOCI International as joint sponsors.

Founded in 2016, the Company engages in the research, development, manufacturing and sales of silicon carbide power devices in China, and mainly provides automotive-grade and industrial-grade silicon carbide power modules, silicon carbide discrete devices and power semiconductor gate drivers. According to Frost & Sullivan, calculated based on revenue in 2024, the Company ranked sixth in China’s silicon carbide power module market with a market share of 2.9%, and ranked third among domestic manufacturers in China; it ranked ninth in China’s silicon carbide discrete device market with a market share of 2.7%; and ranked ninth in the power semiconductor gate driver market with a market share of 1.7%. China’s silicon carbide power device market is expected to reach RMB42.8 billion by 2029.

The sales revenue of China’s silicon carbide power device market grew from RMB1.1 billion in 2020 to RMB6.9 billion in 2024, representing a compound annual growth rate of 59.7%, and the market scale is projected to hit RMB42.8 billion by 2029. Such markets are highly concentrated and dominated by a small number of major international manufacturers, whose combined market share exceeds 50% in both the silicon carbide power module market and the discrete device market.