Two Chinese semiconductor companies debuted strongly in Hong Kong this Friday, the 26th, after raising, together, around US$ 1 billion in initial public offerings (IPOs). 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 printed circuit boards (PCBs) – the bridge that connects tiny chips to larger electronic systems.
The company’s revenue increased by almost 50% in 2025, while net profit increased by 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.
Beijing-based SG Micro group also debuted on the Hong Kong market this Friday. The company manufactures analog chips, used in the automotive, consumer electronics and other sectors. 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.
