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Chinese analog and mixed-signal integrated circuit designer, making power-management and signal-chain chips.
Chinese analog and mixed-signal integrated circuit designer, making power-management and signal-chain chips.
Designs chips and has foundries make them, selling a catalogue of thousands of low-priced parts, so income is spread over many small orders and rests on getting new parts designed into customers' products. Chinese makers of consumer, industrial and car electronics are the main buyers.
In one line: A Chinese analog IC designer, akin to a smaller Texas Instruments in analog chips.
Moat: narrow (IP / patents, process know-how). Broad analog IC portfolio and design know-how built over years, though facing intense local competition.
Headquarters: Beijing, China · Founded: 2007 · Employees: 1,835
Size SG Micro (3661.HK) is a Hong Kong Information Technology company (Semiconductors) with a market value of $5.78B, the 238th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$66.00 on 6 Nov 2026.
Growth Revenue grew 53.7% over the last twelve months (peer median +28.5%); the operating margin is 17.1% (peer median 17.2%).
Valuation It trades at 38.7× forward earnings against a peer median of 34.8× (9th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 15.9 points above its cost of capital (5.3% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$6.15B | HK$4.22B | HK$3.62B | HK$2.88B | HK$3.69B |
| Revenue growth | — | +17% | +26% | -22% | — |
| Gross profit | HK$3.28B | HK$2.03B | HK$1.76B | HK$1.34B | HK$2.10B |
| EBITDA | n/a | HK$648M | HK$592M | HK$328M | HK$1.07B |
| Net income | HK$1.08B | HK$593M | HK$542M | HK$310M | HK$1.02B |
| Free cash flow | HK$588M | HK$259M | HK$335M | -HK$69.2M | HK$819M |
| Capital expenditure | HK$524M | HK$278M | HK$261M | HK$258M | HK$302M |
| Total debt | HK$811M | HK$465M | HK$111M | HK$49.4M | HK$64.6M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| SG Micro 3661.HK | $5.78B | n/a | +54% | 17% | 38.7× | 3.4% |
| Texas Instruments TXN | $253B | -4% | +20% | 41% | 24.6× | 23.3% |
| Analog Devices ADI | $176B | -13% | +34% | 36% | 22.4× | 27.8% |
| Shanghai Fudan Microelectronics 1385.HK | $4.55B | -48% | +21% | 13% | 12.7× | 19.3% |
| Omnivision Integrated Circuits 0501.HK | $15.7B | -16% | +7% | 13% | 23.2× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 3661.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.1% | -22.0% | 10th highest of 21 |
| Distance from 52-week high | -53.6% | -47.9% | 10th lowest of 21 |
| Revenue growth (TTM) | +53.7% | +28.5% | 6th highest of 21 |
| Operating margin | 17.1% | 17.2% | 11th highest of 21 |
| Forward P/E | 38.7× | 34.8× | 9th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 3.4% | 26.6% | 2nd least demanding of 11 |
| Growth delivered (Del g) | +25.8% | +11.0% | highest of 11 |
| Hurdle (Req g minus delivered) | -22.4 pp | +15.4 pp | least demanding of 11 |
| ROIC minus cost of capital | +15.9 pp | -3.6 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SG Micro 3661.HK | Hong Kong | $5.78B | n/a | +54% | 17% | 38.7× | 3.4% | +25.8% |
| Amlogic (Shanghai) 688099.SS | China | $5.84B | -13% | +39% | 17% | 22.4× | n/a | n/a |
| Henan Shijia Photons Technology 688313.SS | China | $5.72B | -36% | +73% | 22% | 47.9× | n/a | n/a |
| Beijing YanDong MicroElectronic 688172.SS | China | $5.86B | -26% | +22% | -89% | 63.3× | n/a | n/a |
| Cirrus Logic CRUS | United States | $5.69B | -34% | +6% | 23% | 16.9× | 1.5% | +7.8% |
| TCL Zhonghuan Renewable Energy Technology 002129.SZ | China | $5.68B | +9% | +13% | -27% | n/a | n/a | n/a |
| Hangzhou Silan Microelectronics 600460.SS | China | $5.93B | -18% | +12% | 2% | 41.1× | n/a | n/a |
| Espressif Systems (Shanghai) 688018.SS | China | $5.61B | +30% | +23% | 19% | 48.8× | 36.0% | +25.3% |
| Yangzhou Yangjie Electronic Technology 300373.SZ | China | $5.99B | -3% | +29% | 18% | 22.4× | 18.1% | +22.3% |
| Shanghai Biren Technology 6082.HK | Hong Kong | $6.03B | -67% | +542% | -47% | n/a | n/a | n/a |
| Silicon Motion Technology Corporation Sponsored ADR SIMO | United States | $5.52B | -36% | +104% | 21% | 8.4× | n/a | n/a |
| Shanghai Iluvatar CoreX Semiconductor 9903.HK | Hong Kong | $6.06B | -6% | +158% | -65% | n/a | n/a | n/a |
| Sigmastar Technology 301536.SZ | China | $5.41B | +4% | +99% | 31% | n/a | 19.6% | +20.0% |
| GalaxyCore 688728.SS | China | $5.41B | +1% | +16% | 3% | 86.7× | 28.8% | +3.8% |
| Hubei Feilihua Quartz Glass 300395.SZ | China | $5.35B | -38% | +50% | 24% | 52.7× | n/a | n/a |
| Impinj PI | United States | $5.28B | +12% | +8% | -1% | 62.6× | 47.2% | +21.1% |
| GRINM Semiconductor Materials 688432.SS | China | $6.34B | +131% | +36% | 19% | 161.4× | n/a | n/a |
| FormFactor FORM | United States | $6.36B | -45% | +29% | 21% | 19.7× | 22.4% | +2.5% |
| Allegro MicroSystems ALGM | United States | $5.25B | -42% | +28% | 9% | 22.1× | 45.3% | +8.5% |
| Unigroup Guoxin Microelectronics 002049.SZ | China | $6.37B | -35% | -1% | 18% | 25.5× | 24.4% | +13.5% |
| Win Semiconductors 3105.TWO | Taiwan | $5.19B | -27% | +24% | 11% | 28.5× | 48.8% | -8.2% |