SMIC Microelectronics rushes to list on Hong Kong Stock Exchange: annual revenue of 1.1 billion, profit of 280 million, Zhou Yan cashes out 347 million

Lei Direxch Lei Jianping April 5

Micron Semiconductor (Shenzhen) Co., Ltd. (hereinafter referred to as “Micron Semiconductor”) has recently submitted its prospectus and is preparing to list on the Hong Kong Stock Exchange.

Micron Semiconductor was listed on the STAR Market in August 2022, issuing 63.0 million shares, at an issue price of 30.86 yuan, raising a total amount of 1.944 billion yuan.

As of Friday’s close, Micron Semiconductor’s share price was 40.6 yuan, and its market value was 16.3 billion yuan.

Micron Semiconductor distributed dividends of 180 million yuan, 99.9 million yuan, and 99.7 million yuan in 2023, 2024, and 2025, respectively. The dividends declared in 2023 and 2024 were settled as of the last practicable date.

For the year ended December 31, 2025, the recommended dividend of approximately 120 million yuan to be distributed by Micron Semiconductor to existing shareholders was approved by the board of directors.

Annual revenue 1.1 billion, profit 280 million

Micron Semiconductor is a provider of intelligent control solution, focusing on the design and delivery of integrated circuit chips, and using microcontroller units (MCUs) as the core of its products.

With MCU design and development capabilities at its core, Micron Semiconductor’s products further extend to various system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, providing customers with end-to-end overall solutions including the chips and underlying algorithms required for intelligent control, enabling a range of application scenarios such as consumer electronics, smart home appliances, industrial control, and automotive electronics.

During the track record period, Micron Semiconductor’s revenue was mainly derived from the provision of MCU, SoC, and ASIC solutions, as well as sales of other related products.

The prospectus shows that Micron Semiconductor’s revenue in 2023, 2024, and 2025 was 714 million, 912 million, and 1.122 billion yuan, respectively; gross profit was 69.23 million, 261 million, and 369 million yuan, respectively.

Micron Semiconductor’s revenue from MCU solutions in 2025 was 846 million yuan, accounting for 75.4%; its revenue from SoC solutions was 241 million yuan, accounting for 21.5%.

Micron Semiconductor’s annual profit in 2023, 2024, and 2025 was -21.95 million, 137 million, and 284 million yuan, respectively.

As of December 31, 2025, Micron Semiconductor held cash and cash equivalents of 319 million yuan.

Zhou Yan cashed out 347 million

Micron Semiconductor’s executive directors are Yang Yong, Zhou Yan, and Liu Zeyu, respectively; its independent non-executive directors are Dr. Song Xiaoke, Dr. Sun Xiaoling, and Dr. Chu Junhong, respectively.

Yang Yong is the chairman and general manager of Micron Semiconductor. Born in 1972, he holds New Zealand nationality, with permanent residency in Hong Kong. He obtained a bachelor’s degree from Fushun Petroleum Institute (now renamed “Liaoning Petrochemical University,” the same applies below) and a master’s degree from Southeast University. Zhou Yan was born in 1970 and holds a bachelor’s degree from Zhongfushun Petroleum Institute.

As of December 31, 2025, Yang Yong holds 31.47% of the shares, Zhou Yan holds 22.93%, Jiang Zhiyong holds 3.92%, Luo Yong holds 3.85%, and Zhou Fei holds 3.37%;

Shunwei Xinhu (Shenzhen) Investment Limited Partnership (Limited Partnership) holds 2.89%, and Ningbo Shunwei Zhiyuan Venture Capital Partnership (Limited Partnership) holds 1.28%;

Jinna holds 0.8%, Hong Kong Securities Clearing Company Limited holds 0.45%, and Shenzhen Dacheng Caizhi Venture Capital Management Co., Ltd. – Shenzhen Dacheng Chuanghong Private Equity Investment Enterprise (Limited Partnership) holds 0.4%.

Micron Semiconductor announced on March 3, 2026 that shareholder Zhou Yan transferred 8,007,300 shares at a transfer price of 43.35 yuan per share, cashing out 347 million yuan.

Zhou Yan, together with Yang Yong and Zhou Fei, are acting in concert. After this reduction in their holdings, the three together control 55.77% of the company’s equity.

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