IPO Timeline Raw facts
Broker Deadline
Morning deadline
HKEX Deadline
Noon deadline
Broker Results (T-2)
Some brokers release in afternoon
Grey Market (T-1)
Afternoon
HKEX Allotment (T-1)
Evening
Registrar Allotment (T-1)
Evening
Listing Day (T)
First day of trading
Cross-Market Price Comparison
| Other Listed Market | Shenzhen (SZSE) |
|---|---|
| Other Market Stock Code | 300661 |
| H-Share Offer Price | HK$ 85.20 |
| Other Market Price | Loading... |
| Reference Exchange Rate | Loading... |
| H-Share Offer Price Premium/Discount vs Other Market | Loading... |
Company Overview
| Stock Name | SG Micro |
|---|---|
| Stock Code | 03661 |
| Company Full Name | SG Micro Corp |
| Industry | Information Technology |
| Principal Activities | Design, develop and sell high-performance analog integrated circuits and sensors, covering the two major areas of signal chain and power management, with wide applications in end markets such as industrial, automotive, networking and computing, and consumer electronics. |
| Listing Date | 2026-06-26 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 北京市海淀區西三環北路87號11層4-1106 |
| Business Address (Hong Kong) | 香港銅鑼灣希慎道33號利園一期19樓1910室 |
| Place of Incorporation | China |
| Listing Method | Global Offering |
| Listing Board | Main Board |
| Website | www.sg-micro.com |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | 卓佳证券登记有限公司，香港金钟道89号力宝中心1座31楼3101-3103室 |
| A-Share/US Dual Listing | Yes (A股) |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 85.20 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 8,520 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-06-17 to 2026-06-23 |
| Global Offering Shares | 54,001,200 shares |
| HK Public Offer Shares (Initial) | 5,400,200 shares (10.0%) |
| Public Offer Lots (Initial) | 54,002lots (Pool A27,001lots，Pool B27,001lots) |
| International Placing Shares (Initial) | 48,601,000 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 675,015,824 shares |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 49.9% |
| Clawback Tiers | Mechanism B: no clawback mechanism |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 4,600,902,240 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 8,520 |
| 2 lots | 200 | HK$ 17,040 |
| 3 lots | 300 | HK$ 25,560 |
| 4 lots | 400 | HK$ 34,080 |
| 5 lots | 500 | HK$ 42,600 |
| 6 lots | 600 | HK$ 51,120 |
| 7 lots | 700 | HK$ 59,640 |
| 8 lots | 800 | HK$ 68,160 |
| 9 lots | 900 | HK$ 76,680 |
| 10 lots | 1,000 | HK$ 85,200 |
| 15 lots | 1,500 | HK$ 127,800 |
| 20 lots | 2,000 | HK$ 170,400 |
| 25 lots | 2,500 | HK$ 213,000 |
| 30 lots | 3,000 | HK$ 255,600 |
| 35 lots | 3,500 | HK$ 298,200 |
| 40 lots | 4,000 | HK$ 340,800 |
| 45 lots | 4,500 | HK$ 383,400 |
| 50 lots | 5,000 | HK$ 426,000 |
| 60 lots | 6,000 | HK$ 511,200 |
| 70 lots | 7,000 | HK$ 596,400 |
| 80 lots | 8,000 | HK$ 681,600 |
| 90 lots | 9,000 | HK$ 766,800 |
| 100 lots | 10,000 | HK$ 852,000 |
| 200 lots | 20,000 | HK$ 1,704,000 |
| 300 lots | 30,000 | HK$ 2,556,000 |
| 400 lots | 40,000 | HK$ 3,408,000 |
| 500 lots | 50,000 | HK$ 4,260,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 600 lots | 60,000 | HK$ 5,112,000 |
| 700 lots | 70,000 | HK$ 5,964,000 |
| 800 lots | 80,000 | HK$ 6,816,000 |
| 900 lots | 90,000 | HK$ 7,668,000 |
| 1,000 lots | 100,000 | HK$ 8,520,000 |
| 2,000 lots | 200,000 | HK$ 17,040,000 |
| 3,000 lots | 300,000 | HK$ 25,560,000 |
| 4,000 lots | 400,000 | HK$ 34,080,000 |
| 5,000 lots | 500,000 | HK$ 42,600,000 |
| 6,000 lots | 600,000 | HK$ 51,120,000 |
| 7,000 lots | 700,000 | HK$ 59,640,000 |
| 8,000 lots | 800,000 | HK$ 68,160,000 |
| 9,000 lots | 900,000 | HK$ 76,680,000 |
| 10,000 lots | 1,000,000 | HK$ 85,200,000 |
| 15,000 lots | 1,500,000 | HK$ 127,800,000 |
| 20,000 lots | 2,000,000 | HK$ 170,400,000 |
| 27,001 lots | 2,700,100 | HK$ 230,048,520 |
Stock Connect Inclusion Analysis
| HK Market Cap | HK$ 4.91B |
|---|---|
| Analysis Result | Already included in Stock Connect (both) |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 57,511,348,285 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Approximately 83.7x (based on offer price HK$85.2 and 2025 EPS) |
| Profit/Loss Status | Net profit RMB 534.4 million |
| Period-End Cash Balance | RMB 1,340.09 million |
| Listing Expenses | ~HK$ 101,000,000 |
| Listing Expenses / Funds Raised | ~2.2% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | Loading... |
|---|---|
| Use of Proceeds | Approximately 60% will be used to enhance research and development capabilities and expand the product portfolio, approximately 26% for strategic investments and acquisitions, approximately 6% to expand the overseas sales network, and approximately 8% for working capital and general corporate purposes. |
Underwriting Syndicate
Joint Sponsors (2)
Sponsor cum Overall Coordinator (1)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
Overall Coordinators (2)
Joint Global Coordinators (2)
Joint Bookrunners (2)
Joint Lead Managers (2)
Capital Market Intermediaries (2)
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
科律香港律师事务所 北京市君合律师事务所 Jun He Law Offices LLC |
| Legal Advisor to Sponsors/Underwriters |
Clifford Chance 世辉律师事务所 |
| Auditor and Reporting Accountant | 安永会计师事务所 |
| Industry Advisor | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| Compliance Advisor | RED SOLAR SECURITIES (INTERNATIONAL) LIMITED CE BJG062 |
| Receiving Banks |
中国银行（香港）有限公司 招商永隆银行有限公司 |
| H Share Registrar | 卓佳证券登记有限公司 |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | GIC Private Limited | 50,000,000 USD | 4,597,700 | 8.51% | 0.68% | 6 months | 2026-12-26 |
| 2 | JPMAMAPL | 49,000,000 USD | 4,505,700 | 8.34% | 0.67% | 6 months | 2026-12-26 |
| 3 | CPE Ginkgo | 38,000,000 USD | 3,494,200 | 6.47% | 0.52% | 6 months | 2026-12-26 |
| 4 | Da Cheng International | 3,000,000 USD | 275,800 | 0.51% | 0.04% | 6 months | 2026-12-26 |
| 5 | 大家人寿 | 3,000,000 USD | 275,800 | 0.51% | 0.04% | 6 months | 2026-12-26 |
| 6 | DAMSIMF | 3,000,000 USD | 275,800 | 0.51% | 0.04% | 6 months | 2026-12-26 |
| 7 | First Sentier Investors | 20,000,000 USD | 1,839,000 | 3.41% | 0.27% | 6 months | 2026-12-26 |
| 8 | 广发基金管理 | 10,000,000 USD | 919,500 | 1.70% | 0.14% | 6 months | 2026-12-26 |
| 9 | 广发基金香港 | 2,000,000 USD | 183,900 | 0.34% | 0.03% | 6 months | 2026-12-26 |
| 10 | Golden Continent | 3,000,000 USD | 275,800 | 0.51% | 0.04% | 6 months | 2026-12-26 |
| 11 | 嘉实国际资产管理 | 3,000,000 USD | 275,800 | 0.51% | 0.04% | 6 months | 2026-12-26 |
| 12 | HHLRA | 39,000,000 USD | 3,586,200 | 6.64% | 0.53% | 6 months | 2026-12-26 |
| 13 | HHLRA（身为CPP Investments管理的SMA的投资管理人） | 10,000,000 USD | 919,500 | 1.70% | 0.14% | 6 months | 2026-12-26 |
| 14 | Huadeng Technology | 5,000,000 USD | 459,700 | 0.85% | 0.07% | 6 months | 2026-12-26 |
| 15 | 新加坡华勤 | 7,000,000 USD | 643,600 | 1.19% | 0.10% | 6 months | 2026-12-26 |
| 16 | Sungrow Power | 4,000,000 USD | 367,800 | 0.68% | 0.05% | 6 months | 2026-12-26 |
| 17 | 工银理财 | 3,000,000 USD | 275,800 | 0.51% | 0.04% | 6 months | 2026-12-26 |
| 18 | iSoftStone HK | 3,000,000 USD | 275,800 | 0.51% | 0.04% | 6 months | 2026-12-26 |
| 19 | LMR Master Fund | 3,000,000 USD | 275,800 | 0.51% | 0.04% | 6 months | 2026-12-26 |
| 20 | Millennium Capital | 5,000,000 USD | 459,700 | 0.85% | 0.07% | 6 months | 2026-12-26 |
| 21 | Ninety One Asia | 3,000,000 USD | 275,800 | 0.51% | 0.04% | 6 months | 2026-12-26 |
| 22 | Ocean Fine Industrial | 4,000,000 USD | 367,800 | 0.68% | 0.05% | 6 months | 2026-12-26 |
| 23 | 中邮理财 | 3,000,000 USD | 275,800 | 0.51% | 0.04% | 6 months | 2026-12-26 |
| 24 | Taikang Life | 8,000,000 USD | 735,600 | 1.36% | 0.11% | 6 months | 2026-12-26 |
| 25 | Value Partners Hong Kong Limited | 10,100,000 USD | 928,700 | 1.72% | 0.14% | 6 months | 2026-12-26 |
| 26 | Value Partners Limited | 1,900,000 USD | 174,700 | 0.32% | 0.03% | 6 months | 2026-12-26 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman | 張世龍 | — |
| Company Secretary | 張勤、楊小慧 | — |
| Executive Director | 张世龙 | ZhangShilong |
| Non-Executive Director | 林林 | LinLin |
| Independent Non-Executive Director | 杜美杰 | DuMeijie |
| Executive Director | 张勤 | ZhangQin |
| Non-Executive Director | 刘明 | LiuMing |
| Independent Non-Executive Director | 唐春林 | TangChunlin |
| Independent Non-Executive Director | 陈奕斌 | ChanYikPun |
Major Shareholders
| Major Shareholders & Holdings | The controlling shareholder is Dr. 張世龍, Ms. 張勤, Ms. Wen Li and others, who jointly control the Company through a concerted action agreement, and in aggregate hold approximately 32.82% of the A-share interests immediately after completion of the Global Offering (assuming the over-allotment option is not exercised). |
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