Two Chinese Semiconductor Companies Raise Around US$1 Billion in Hong Kong IPOs

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By Sherry QinTwo Chinese semiconductor companies surged at their debut in Hong Kong on Friday, after raising about US$1 billion in total.Circuit Fabology Microelectronics Equipment, a chip equipment maker headquartered in Hefei, Anhui Province, raised 3.24 billion Hong Kong dollar, equivalent to US$413.2 million, with its IPO priced at HK$252.73 a share. Its shares surged 73% in early session to HK$439.00.The company, also known as CFMEE, is a leading producer of direct imaging equipment used to fabricate high-end printed circuit boards, the bridge connecting tiny chips to larger electronic systems.The company's revenue rose almost 50% in 2025 while its net profit was up 31% thanks to higher sales volume of PCB direct imaging equipment and automation systems,It plans to use its proceeds on strengthening its research and development capabilities, expanding production capacity and strategic investments.Beijing-based SG Micro Group also hit the Hong Kong market Friday. It is an analog chip maker with products used in automotive, consumer electronics and other sectors. It raised 4.60 billion Hong Kong dollars by issuing 54 million shares at HK$85.20 each. Its shares rose 22% to HK$104.30 in early trade.The majority of its funds from the offering will be used to enhance its research and development capabilities and expanding its product portfolio over the next five years.The two companies joined a wave of Chinese semiconductor companies tapping the Hong Kong market for fresh funds amid China's push toward tech self-sufficiency and amid the global AI boom.Write to Sherry Qin at [email protected]

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