Chinese chip companies soar in Hong Kong debut after IPOs

Two Chinese semiconductor companies debuted strongly in Hong Kong this Friday (26), after together raising around US$1 billion in IPOs (initial share offerings).

Circuit Fabology Microelectronics Equipment, a chip equipment maker based in Hefei, Anhui province, raised 3.24 billion Hong Kong dollars ($413.2 million), with the IPO priced at HK$252.73 per share.

The shares closed up 103.8%.

The company, also known as CFMEE, is a leading producer of direct imaging equipment used in manufacturing high-end PCBs (printed circuit boards) - the bridge that connects tiny chips to larger electronic systems.

The company's revenue increased almost 50% in 2025, while net profit increased 31%, driven by higher sales volume of direct imaging equipment for PCBs and automation systems.

CFMEE intends to use the resources to strengthen its research and development capacity, expand production capacity and make strategic investments.

The SG Micro group, based in Beijing, also debuted on the Hong Kong market this Friday. The company manufactures analog chips used in the automotive, consumer electronics and other industries.

It raised 4.60 billion Hong Kong dollars ($586.5 million) by issuing 54 million shares at HK$85.20 each. The shares ended the trading session up 47%.

The majority of the amount raised by SG Micro will be used to reinforce research and development and expand the product portfolio over the next five years.

The two companies join a wave of Chinese semiconductor companies turning to the Hong Kong market for fresh capital, amid China's push for technological self-sufficiency and the global boom in artificial intelligence.

Source: CNN