New IPO News | "Analog IC company" SGM Microelectronics has launched its IPO, aiming to list on June 26, with a minimum subscription amount of HK$8,605.92 per lot

Futu News, June 17:$SG MICRO (03661.HK)$The company announced that the subscription period will run from June 17 to June 23. It plans to offer approximately 54,001,200 shares globally, with listing expected on June 26.

Company Overview

The company is a leading Chinese analog integrated circuit (IC) firm. It designs, develops, and sells high-performance analog ICs and sensors featuring functions such as sensing, amplification, conversion, and driving—serving as fundamental building blocks for all electronic systems. According to Frost & Sullivan, based on 2025 revenue, the company ranks first among domestic firms in China’s analog IC market and eighth globally, holding a 1.8% market share.

Since its founding in 2007, the company has continuously developed and expanded its comprehensive product portfolio, pushing the boundaries of electronic technology. As of the latest practicable date, it offers over 7,200 analog and sensor products across 38 categories, providing system-level solutions backed by robust design and process capabilities to accelerate time-to-market.

Financial Summary

The company’s revenue amounted to RMB 26,157 million, RMB 33,470 million, and RMB 38,981 million in 2023, 2024, and 2025, respectively, representing a compound annual growth rate (CAGR) of 22.1% from 2023 to 2025. The company maintained sustainable profitability throughout the entire track record period. Its gross margins were 44.9%, 47.2%, and 46.2%, respectively. Adjusted net profit (a non-IFRS measure) was RMB 3,887 million, RMB 5,760 million, and RMB 6,935 million, respectively.

Use of Proceeds

Regarding the use of proceeds, Shengbang Holdings expects the net proceeds from the global offering to be approximately HK$4.5 billion (assuming the over-allotment option is not exercised and based on an issue price of HK$85.2 per share). According to the prospectus, Shengbang Holdings intends to allocate the net proceeds from the global offering to the following purposes:

Approximately 60.0% of the net proceeds are expected to be used to enhance the company's research and development capabilities and expand its product portfolio over the next five years. Approximately 26.0% of the net proceeds are expected to be allocated to strategic investments and/or acquisitions aimed at integrating industry resources. Approximately 6.0% of the net proceeds are anticipated to be used over the next five years to expand overseas sales networks, particularly strengthening sales and marketing capabilities in Europe, Japan, South Korea, and Singapore. The remaining approximately 8.0% of the net proceeds will be allocated to working capital and general corporate purposes.

Further reading:Shengbang Holdings Prospectus

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Editor/Vincent

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