BASiC Semiconductor Launches IPO Patrons Acts as Joint Bookrunner Joint Lead Manager and Capital Market Intermediary

BASiC Semiconductor Co., Ltd. (hereinafter referred to as "BASiC Semiconductor"), stock code 9971.HK, has officially initiated its Global Offering from June 29 to July 3, 2026. The Patrons team serves as a Joint Bookrunner, Joint Lead Manager, and Capital Market Intermediary for this IPO project.

According to Patrons' understanding, Basic Semiconductor, a Chapter 18C specialist tech company, plans to globally offer approximately 27,386,200 H Shares, with the offer price ranging from HK$27.49 to HK$31.62 per H Share. Based on the maximum offer price, the total gross proceeds to be raised from this issuance are estimated at approximately HK$866 million. The company is scheduled to be listed on the Main Board of The Stock Exchange of Hong Kong Limited on July 8, 2026.

According to the prospectus, since its inception, BASiC Semiconductor has been deeply engaged in the design, research, development, manufacturing, and sales of silicon carbide (SiC) power devices. The company is dedicated to driving clean and efficient transformations in power electronics technology and steadily advancing the localized replacement of cutting-edge core semiconductor devices.

The company has established a core product line covering a wide array of application scenarios:

• SiC Power Modules: Automotive-grade and industrial-grade silicon carbide power modules.
• SiC Discrete Devices: Including silicon carbide MOSFETs and silicon carbide Schottky diodes.
• Power Semiconductor Gate Drivers: Including gate drive integrated circuits (ICs) and gate driver boards.

In terms of its business model, the company has transcended the constraints of a single design or foundry approach. It is deeply integrated into the integrated device manufacturer (IDM) model, combining chip design, wafer fabrication, module packaging, and gate driver design and testing, thereby securing independent mass production capabilities across the entire industrial chain.

Data from Frost & Sullivan indicates that China's silicon carbide power device market has experienced robust momentum in recent years. Sales revenue from this market expanded significantly from RMB 1.1 billion in 2020 to RMB 6.9 billion in 2024, representing an impressive compound annual growth rate (CAGR) of 59.7%. It is anticipated that between 2025 and 2029, the industry will sustain growth at a CAGR of 47.1%, with the market scale expected to reach RMB 42.8 billion by 2029.

In the midst of intense global and domestic competition, BASiC Semiconductor has cemented a prominent market position. Based on 2024 revenue statistics, the company ranks sixth in China's silicon carbide power module market, capturing a 2.9% market share.

As a financial institution deeply rooted in the Hong Kong capital market, the Patrons team has participated extensively in this IPO project as a Joint Bookrunner, Joint Lead Manager, and Capital Market Intermediary. Leveraging its insights into the hard technology and advanced manufacturing sectors, combined with a well-developed international investor network, Patrons has assisted the company in precisely conveying its core commercial value and technological barriers, providing crucial support for this specialist technology company to successfully enter the international capital market.

If there is any inconsistency or ambiguity between these two versions, the Chinese version shall prevail.