Basic Semiconductor (9971.HK) climbed nearly 6% in Hong Kong trading to HK$52.15. The company previously announced it signed a 193 million yuan EPC contract with China Construction Second Engineering Bureau for a SiC module packaging production line in Shenzhen, accelerating its silicon carbide capacity expansion. Separately, the company said it will raise prices for certain products by up to 25% starting from the third quarter of 2026.
The company's IPO price stabilization period ended on August 2, during which no price stabilization actions were taken and the over-allotment option was not exercised. Basic Semiconductor, listed under Hong Kong's Chapter 18C regime for specialist technology companies, has seen its shares recover from a recent pullback, aided by a broader SiC industry pricing uptrend.