BASICSEMI

BASiC Semiconductor (9971.HK) saw a sharp afternoon sell-off, closing at HKD 64.6, down 5.00% from the previous close of HKD 68.0, erasing morning gains and posting an intraday range of 5.8%. Despite announcing a partnership with UBTECH ROBOTICS to apply SiC power devices in humanoid robots on August 21, the news failed to sustain positive momentum, likely due to profit-taking after a substantial YTD rally of 94.46%. The stock now sits 10.28% below its 52-week high of HKD 72 and has fallen below its 20-day moving average of HKD 57.97, signaling near-term weakness. With a PE of -52.96x and an extremely high PB of 1287.41x, the valuation remains driven by long-term expectations rather than earnings. However, very low turnover of HKD 10.15 million and a turnover rate of 0.05% suggest limited selling pressure, leaving room for a potential rebound if AI/robotics catalysts materialize.

BASICSEMI opened higher this morning and closed the morning session up 5.1% at HK$68.40, with an intraday high of HK$68.40 and low of HK$65.25, driven by the partnership news with UBTECH ROBOTICS to apply silicon carbide power devices in humanoid robots. The stock is now just 5% below its 52-week high of HK$72.00 set on August 18, and has surged 105.9% year-to-date, significantly outperforming the Hang Seng Index. It currently trades well above its 20-day MA (HK$57.365) and 60-day MA (HK$51.17), yet the PB ratio of 1,364x and negative PE ratio (-56.12) underscore the lack of near-term profitability. The company has scheduled a board meeting to review interim results and consider a dividend, though the stock has eased from its recent peak, suggesting some profit-taking pressure.

BASiC Semiconductor (9971.HK) opened higher but quickly reversed, hitting an intraday high of HK$70.70 before settling at HK$68.15, down 5.35% from the prior close, likely due to profit-taking ahead of its board meeting to review interim results. The stock has surged 108.41% from its 52-week low of HK$32.70 on July 9, now trading well above its 20-day MA of HK$56.942 and 60-day MA of HK$50.784, with a YTD gain of 105.15%. The company's trailing P/E stands at -55.88x, P/B at 1,358.16x, and market cap at approximately HK$20.74 billion, though daily turnover is thin at only HK$1.28 million. Despite the pullback, recent strategic cooperation with Episil on 8-inch SiC wafers and sustained AI-driven semiconductor demand continue to underpin the longer-term narrative.

Basic Semiconductor (9971.HK) extended its afternoon rally to close 4.8% higher at HK$69.2, driven by the announcement of a board meeting on August 26 to review interim results and consider dividend distribution, fueling optimism on earnings. The intraday session followed a 'recovery from lows' pattern, dipping to an intraday low of HK$65.6 in the morning amid broader market softness, then rebounding sharply to hit a high of HK$69.2 in the afternoon and closing near the session peak, with total turnover of approximately HK$15.6 million. The stock currently trades just 2.5% below its 52-week high of HK$71, boasts a YTD gain of 108.3%, and stands well above its 20-day (HK$55.71) and 60-day (HK$50.11) moving averages, reflecting sustained bullish sentiment. However, its negative P/E ratio of -56.7 underscores that profitability has yet to be achieved, leaving the upcoming earnings results as a key validation point.

Basic Semiconductor surged in a single-session uptrend, gaining over 5.2% to hit a record high of HK$70.9, driven by AI demand boosting the silicon carbide chip sector. The stock traded with a turnover of HK$8.96 million, climbing from HK$67.05 to HK$70.9 during the morning session, with an intraday range of 7.4%. The price now sits above its 20-day MA (HK$54.705) and 60-day MA (HK$49.622), with a YTD gain of 113.43% and a 116.82% rebound from its 52-week low of HK$32.7. Recent catalysts include the conversion of domestic shares to H-shares, an equity incentive plan, and a strategic SiC wafer partnership with Episil Technologies. However, the stock's PB stands at 1,412.96x with a negative PE, highlighting valuation concerns.