--- title: "700 billion! Beijing's simulated chip giant goes public, opening up 23% increase" type: "News" locale: "en" url: "https://longbridge.com/en/news/290911158.md" description: "Beijing-based analog chip leader SG Micro was listed on the Hong Kong Stock Exchange on June 26, with an issue price of HKD 85.20, opening up 23.4%, and a total market value exceeding HKD 70 billion. The company was established in 2007 and ranks among the top three domestically and globally in the fields of signal chain and power management, aiming to be the number one in China's analog integrated circuit market by 2025. It was previously listed on the A-share Growth Enterprise Market in 2017" datetime: "2026-06-26T03:55:39.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290911158.md) - [en](https://longbridge.com/en/news/290911158.md) - [zh-HK](https://longbridge.com/zh-HK/news/290911158.md) --- # 700 billion! Beijing's simulated chip giant goes public, opening up 23% increase **Chip Things (WeChat Official Account: aichip001)** **Author | ZeR0** **Editor | Mo Ying** Chip Things reported on June 26 that today, Beijing high-performance analog chip leader **SG Micro** officially listed on the Hong Kong Stock Exchange. Its issue price was HKD 85.20 per share (approximately RMB 73.86), opening up 23.4% to HKD 105.10 per share (approximately RMB 91.11). As of 09:35, its stock price rose as much as 27.9% to HKD 109.00 per share (approximately RMB 94.49), with a total market value exceeding HKD 70 billion (approximately RMB 60.8 billion). SG Micro was established in 2007 and is the only company ranked in the top three in China in the comprehensive analog integrated circuit market, signal chain integrated circuit market, and power management integrated circuit market, with **signal chain** and **power management** as its two main product pillars. In 2025, SG Micro ranked **first in China and eighth globally** in the Chinese analog integrated circuit market; in the global analog integrated circuit market, SG Micro ranked **among the top fifteen globally**. The company's rankings in segmented markets are as follows: - In the signal chain integrated circuit field, it ranks **first in China** and **sixth globally**; in the global market, it ranks **twelfth globally**; - In the power management integrated circuit field, it ranks **second in China** and **seventh globally**; in the global market, it ranks **tenth globally** According to the segmented product categories, the rankings are as follows: - In the signal chain integrated circuit field, it ranks **first in China** and **fourth globally** in the operational amplifier and comparator as well as ADC/DAC markets; - In the power management integrated circuit field, it ranks **first in China** and **third globally** in the LDO market; and ranks **first in China** and **fourth globally** in the AMOLED power chip market. As of June 8, 2026, SG Micro has approximately **7,200** analog integrated circuit and sensor products, covering **38** product categories. SG Micro was listed on the ChiNext board of the Shenzhen Stock Exchange in June 2017. As of the close on June 25, 2026, its latest market capitalization was 85.874 billion yuan. ## **1\. Former Texas Instruments Engineer Returns to Start a Business, Annual Income Nearly 3.9 Billion Yuan** In 2003, Zhang Shilong and six other returnees came back to China and founded SG Microelectronics in Harbin. Later, Zhang Shilong gradually shifted the business focus southward, officially registering SG Microelectronics (Beijing) Co., Ltd. in January 2007, which is the predecessor of SG Micro. Zhang Shilong was born in Zhangjiakou City, Hebei Province. He was admitted to North China Transportation University (now Beijing Jiaotong University) in 1983, obtained a master's degree in 1990, and went to the United States for further study in 1993. In May 1999, he obtained a Ph.D. from the University of Arizona, majoring in mechanical engineering and minoring in electronic and computer engineering. After graduation, he worked as an engineer at the international analog chip giant Texas Instruments. Zhang Shilong is currently 60 years old and serves as the executive director, chairman, and general manager of SG Micro. The controlling shareholders of SG Micro include Hongshun Xiangtai, Baoli Hongya, Hongwei International, Zhang Shilong, Zhang Qin, Lin Lin, and Wen Li, who collectively exercise approximately 32.82% of the voting rights. In 2023, 2024, and 2025, SG Micro's revenue was 2.616 billion yuan, 3.347 billion yuan, and 3.898 billion yuan, respectively, with net profits of 270 million yuan, 491 million yuan, and 534 million yuan, respectively, and R&D expenses of 737 million yuan, 871 million yuan, and 1.045 billion yuan, respectively. â–²From 2023 to 2025, the revenue, net profit, and R&D expenditure changes of SG Micro (chart created by Xindongxi) During the same period, its adjusted net profits were 389 million yuan, 576 million yuan, and 693 million yuan, respectively. The company's gross margins for 2023, 2024, and 2025 were 44.9%, 47.2%, and 46.2%, respectively. In the past three years, the power management integrated circuit business contributed over 60% of SG Micro's revenue, while the signal chain integrated circuit business contributed over 30% of SG Micro's revenue. Its cash flow is as follows: As of the end of 2025, SG Micro had 1,335 R&D employees, accounting for approximately 72.8% of the total workforce; it had been granted 588 patents in China and overseas, including 497 invention patents, and owned 401 integrated circuit layout design registrations and 156 registered trademarks in China and overseas ## **2\. Annual sales exceed 7.8 billion units, high supplier concentration** In 2025, SG Micro's sales of power management integrated circuits exceeded **5.023 billion units**, and sales of signal chain integrated circuits exceeded **2.793 billion units**. The company mainly relies on professional distributors to promote and sell its products. In 2023, 2024, and 2025, the total revenue generated by its five largest customers accounted for 37.3%, 35.6%, and 33.1% of total revenue, respectively. During the same period, the amount purchased from the five largest suppliers by SG Micro accounted for 92.4%, 92.3%, and 91.0% of the total annual purchases, respectively. ## **Conclusion: Focus on Developing Automotive-grade Chips and Advancing Proprietary Process R&D Iteration** The characteristics of the intelligent era include ubiquitous perception, massive scale and edge computing, general artificial intelligence, and all-encompassing connectivity. These aggregating forces are reshaping the global economic and technological landscape, driving the development of markets such as industrial and energy, automotive, networking and computing, and consumer electronics, thereby continuously raising the demand and performance requirements for analog integrated circuits. SG Micro has launched approximately 3,400 new products from 2023 to June 8, 2026, accelerating R&D in key analog fields and core IP expansion, while strategically expanding its analog product portfolio. The aim is to provide a comprehensive set of general-purpose and specialized solutions, expanding its business from signal chain and power management products to highly specialized areas, including the development of sensor technologies to capture, process, and transmit critical environmental and operational data with high precision and reliability. The company plans to further expand its product range, focusing on automotive-grade chips, server power management integrated circuits, sensors, BMS, high-performance audio chips, high-speed interface chips, and driver chips, continuing to deeply integrate into the technological evolution of various industries, including computing, ADAS, renewable energy devices, and photovoltaic power generation, while continuing to explore opportunities in automotive intelligence and electrification, networking and computing, industrial applications, embodied intelligence, and edge AI fields ### Related Stocks - [03661.HK](https://longbridge.com/en/quote/03661.HK.md) - [300661.CN](https://longbridge.com/en/quote/300661.CN.md) - [TXN.US](https://longbridge.com/en/quote/TXN.US.md) ## Related News & Research - [Hong Kong's 'Hard Tech' Boom Is a Chaotic Mix of Real AI Hardware and Desperate Corporate Pivots](https://longbridge.com/en/news/290939355.md) - [The White House wanted to make money from 2 chip companies. Nearly a year later, it hasn't gotten a cent.](https://longbridge.com/en/news/290707700.md) - [Hotter chip prices are just one of many summer tests for Wall Street](https://longbridge.com/en/news/290953868.md) - [INTC Stock Alert: Intel to Begin Production of Its Most Advanced Chip](https://longbridge.com/en/news/290099878.md) - [Nations race to secure sovereign AI as chips, energy become strategic assets](https://longbridge.com/en/news/290708424.md)