LeiDi Network, Lei Jianping, June 26

SG Micro (Beijing) Co., Ltd. (abbreviated as "SG Micro", stock code: "03661") was listed on the Hong Kong Stock Exchange today.

SG Micro's issue price was HKD 85.2, issuing 54 million shares, raising HKD 4.6 billion; after deducting listing expenses of HKD 100 million, the net fundraising amount is HKD 4.5 billion.

SG Micro's opening price today was HKD 105.1, up 23% from the issue price; the closing price was HKD 125.3, up 47% from the issue price; based on the closing price, the company's market value is HKD 84.6 billion.

SG Micro has been listed on the A-share market, and with this listing on the Hong Kong stock market, SG Micro has formed an "A+H" share structure.

As of today's close, SG Micro's stock price is HKD 131.55, down 4.87% from the previous day; based on the closing price, the company's market value is HKD 89 billion. The premium of SG Micro's Hong Kong shares to A shares is -17.45%.

GIC and JPMAMAPL both have floating profits exceeding USD 20 million.

SG Micro's cornerstone investors include GIC, JPMAMAPL, CPE Ginkgo, Da Cheng International, Taikang Life, DAMSIMF, First Sentier Investors, GF Fund Management, GF Fund Hong Kong, Golden Continent, Harvest Global Investments, Hillhouse HHLRA, HHLRA (as the investment manager of the SMA managed by CPP Investments), Huadeng Technology, Singapore Huqin, Sungrow Power under Sungrow, ICBC Wealth Management, iSoftStone HK under SoftStone, LMR Master Fund, Millennium Capital, Ninety One Asia, Ocean Fine Industrial, China Post Wealth Management, Taikang Life, Value Partners Hong Kong Limited, Value Partners Limited, with a total subscription of USD 293 million (approximately HKD 2.3 billion) 。

Among them, GIC subscribed for USD 50 million, JPMAMAPL subscribed for USD 49 million, CPE Ginkgo subscribed for USD 38 million, Da Cheng International, Taikang Life, and DAMSIMF each subscribed for USD 3 million, First Sentier Investors subscribed for USD 20 million, GF Fund Management subscribed for USD 10 million, and GF Fund Hong Kong subscribed for USD 2 million;

Golden Continent and Harvest Global Investments each subscribed for USD 3 million, Hillhouse HHLRA subscribed for USD 39 million, HHLRA (as the investment manager of the SMA managed by CPP Investments) subscribed for USD 10 million, Huadeng Technology subscribed for USD 5 million;

Singapore Huqin subscribed for USD 7 million, Sungrow Power subscribed for USD 4 million, ICBC Credit Suisse, iSoftStone HK, and LMR Master Fund each subscribed for USD 3 million, Millennium Capital subscribed for USD 5 million, Ninety One Asia subscribed for USD 3 million, Ocean Fine Industrial subscribed for USD 4 million, China Post Life subscribed for USD 3 million, Taikang Life subscribed for USD 8 million, Value Partners Hong Kong Limited subscribed for USD 10.1 million, and Value Partners subscribed for USD 1.9 million.

Based on this calculation, both GIC and JPMAMAPL have floating profits exceeding USD 20 million, while CPE has a floating profit of nearly USD 20 million.

Annual revenue of 3.9 billion, net profit of 530 million

SG Micro was established in 2007 and is a comprehensive analog integrated circuit (IC) company that develops and sells high-performance analog integrated circuits and sensors with functions such as sensing, amplification, conversion, and driving, forming the basic building blocks of all electronic systems.

SG Micro's products are core components in end markets such as industrial, networking, and consumer electronics, and are now also driving advancements in applications such as electric vehicles (EV), data centers, robotics, renewable energy, and next-generation consumer devices.

The prospectus shows that SG Micro's revenue for 2023, 2024, and 2025 is expected to be 2.616 billion yuan, 3.347 billion yuan, and 3.9 billion yuan, respectively; gross profit is expected to be 1.176 billion yuan, 1.58 billion yuan, and 1.8 billion yuan, respectively; and net profit for the period is expected to be 270 million yuan, 491 million yuan, and 534 million yuan.

SG Micro's adjusted net profit for 2023, 2024, and 2025 is expected to be 389 million yuan, 576 million yuan, and 693 million yuan, respectively.

In the first quarter of 2026, SG Micro's revenue was 1.1 billion yuan, a 39% increase from 790 million yuan in the same period last year; net profit was 120 million yuan, a 107% increase from 59.77 million yuan in the same period last year; and net profit after deducting non-recurring items was 100 million yuan, a 195% increase from 33.96 million yuan in the same period last year.

Zhang Shilong controls 36% of the shares.

The executive directors of SG Micro are Dr. Zhang Shilong and Ms. Zhang Qin, while the non-executive directors are Lin Lin and Ms. Liu Ming; the independent non-executive directors are Dr. Du Meijie, Ms. Tang Chunlin, and Chen Yibin.

As of March 31, 2026, Zhang Shilong's Chongqing Hongshun Xiangtai Enterprise Management Co., Ltd. holds 18.93% of the shares, Ms. Zhang Qin's Chongqing Baoli Hongya Enterprise Management Co., Ltd. holds 8.17%, Hongwei International Development Co., Ltd. holds 4.64%, and Lin Lin holds 3.81%.

As of March 31, 2026, the equity structure of SG Micro Hong Kong Central Clearing Limited holds 3.03%, Industrial and Commercial Bank of China Limited - Nuode Growth Mixed Securities Investment Fund holds 2.24%, Qianhai Life Insurance Co., Ltd. - Dividend Insurance Product holds 0.83%, Bank of Communications Co., Ltd. - Wanji Industry Preferred Mixed Securities Investment Fund (LOF) holds 0.81%;

China Construction Bank Corporation - Huaxia National Securities Semiconductor Chip Exchange-Traded Open-Ended Index Securities Investment Fund holds 0.79%, Industrial and Commercial Bank of China Limited - E Fund Growth Enterprise Market Exchange-Traded Open-Ended Index Securities Investment Fund holds 0.64%.

The company's shareholders Chongqing Hongshun Xiangtai Enterprise Management Co., Ltd., Chongqing Baoli Hongya Enterprise Management Co., Ltd., Hongwei International Development Co., Ltd., Ms. Zhang Qin, and Lin Lin are acting in concert.

Dr. Zhang Shilong controls a total of 36.19% of the company's equity.

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