【IPO Tracking】H shares jump on the first day! SG Micro receives institutional favor, with continuous performance growth

SG Micro's H shares opened nearly 24% higher on their first day of listing, trading at HKD 105.4, favored by institutions. Its international placement was subscribed 23.5 times, attracting luxury cornerstone investors such as GIC. As a leading company in the simulation IC sector, it has seen continuous growth in performance, ranking first among domestic manufacturers in China. On the same day, KEYTOP PARKING and WENGE AI, which also debuted on the Hong Kong stock market, showed varied performances, while SG Micro's A shares experienced a slight decline of over 3%

On June 26, the new stock market welcomed a "multi-pronged approach," with multiple stocks including SG Micro (03661.HK), KEYTOP PARKING (02272.HK), and WENGE AI (01956.HK) debuting on the Hong Kong stock exchange on the same day.

Among them, SG Micro's H shares opened high and rose, with an increase of nearly 24% as of the time of writing, and the stock price is currently HKD 105.4. However, its A shares SG Micro (300661.SZ) experienced a slight decline, currently down over 3%, with a stock price of RMB 133.16.

From the performance during the recent IPO stage, SG Micro's Hong Kong public offering was 251.73 times subscribed, with the final number of publicly offered shares being 5.4002 million, accounting for about 10% of the total shares offered. A total of approximately 153,900 valid applications were received, with about 34,300 applications accepted, and the first batch's winning rate was 10.00%.

In addition, during the international placement phase, SG Micro was subscribed 23.50 times, with the final number of international offering shares being 48.610 million, equivalent to 90% of the total shares offered.

Comparing the recent new stock data, SG Micro's performance in the Hong Kong public offering was average, but the international placement data was quite impressive, favored by institutions.

It is worth mentioning that during the previous issuance phase, SG Micro introduced more than twenty cornerstone investors, including GIC, JP Morgan Asset Management, GF Fund, Harvest Global Investments, Sungrow Power Supply, Huqin Technology, and Tongfu Microelectronics, forming a luxurious lineup.

SG Micro's final offering price was HKD 85.20, and its stock price is currently HKD 105.4, with each lot consisting of 100 shares, resulting in a profit of approximately HKD 2,020 per lot, excluding handling fees.

SG Micro is a leading analog integrated circuit company in China, designing, developing, and selling analog integrated circuits and sensors with functions such as sensing, amplification, conversion, and driving, forming the basic building blocks of all electronic systems. Its products cover two major areas: signal chain and power management.

According to data, as of now, the company has over 7,200 analog and sensor products, covering 38 major product categories, widely applied in industrial, automotive electronics, data centers, consumer electronics, and other fields.

According to Frost & Sullivan data, based on revenue in 2025, SG Micro ranks first among domestic analog IC manufacturers in China and eighth globally, holding a 1.8% share of the global market.

In terms of performance, SG Micro has maintained steady growth in recent years, with outstanding profit resilience. For 2023-2025, revenues are projected to be RMB 2.616 billion, RMB 3.347 billion, and RMB 3.898 billion, respectively; annual profits are expected to be RMB 270 million, RMB 491 million, and RMB 534 million; During the same period, the adjusted net profits were 389 million yuan, 576 million yuan, and 693 million yuan, respectively