Listing Success | Frost & Sullivan Supports Sanbang Microelectronics (Beijing) Co., Ltd. in Successful Listing in Hong Kong (3661.HK)

Shenbang Microelectronics (Beijing) Co., Ltd. (hereinafter referred to as "Shenbang Microelectronics") was successfully listed on June 26, 2026. The company plans to offer 54,001,200 H-share shares globally, with 90% going to international investors and 10% to public offerings in Hong Kong. The highest offering price per share is HK$85.20, raising approximately HK$4.5 billion in net funds.

During the Hong Kong listing process, Frost & Sullivan carried out the following tasks: helping the issuer accurately and objectively understand its position in the target market, using objective market data to identify and highlight the issuer’s competitive advantages, assisting the issuer, investment banks, and other intermediaries in drafting important sections of the prospectus such as overview, competitive advantages and strategy, industry overview, and business section, helping the issuer communicate with the Stock Exchange and investors, and assisting the issuer in responding to various questions from the Stock Exchange regarding the industry.

Frost & Sullivan has always been a leader in helping companies list on the Hong Kong stock market. According to LiveReport Big Data (data as of March 31, 2026), over the past 36 months and 12 months, and from January to March 2026, Frost & Sullivan provided listing industry consulting services for 195 (market share: 71%), 101 (market share: 73%), and 30 (market share: 77%) Hong Kong IPOs, ranking first in terms of number of services provided. Frost & Sullivan possesses rich industry experience and communication skills with regulatory authorities, exchanges, investment and financing institutions, and related organizations.

•The company is a leading analog IC enterprise in China, offering a complete product portfolio centered around signal chains, power management, and sensors. Its products are widely used in high-value terminal markets such as automotive and energy, automotive, network and computing, and consumer electronics.

•The company has a comprehensive and continuously expanding product portfolio. As of the last practical date, it has produced over 7,200 analog ICs and sensors, covering 38 product categories, and approximately 3,400 new products were introduced during the past performance period up to the last practical date.

•The company has solid design capabilities for analog chips, accumulated proprietary manufacturing technologies, and extensive IP reserves. As of December 31, 2025, it had 588 authorized patents (including 497 invention patents) and 401 integrated circuit layout designs registered, and served more than 6,000 end-users in 2025.

According to Frost & Sullivan’s report, based on 2025 revenue, the company:

•Is the largest Chinese manufacturer in the analog IC market and the eighth largest globally.

•Is thesignal chain IClargest Chinese manufacturer and the sixth largest globally.

•Is the second largest Chinese manufacturer in power management ICs and the seventh largest globally, and the largest Chinese manufacturer in amplifier and comparator, ADC/DAC, AMOLED power chip, and LDO markets.

Analog ICs act as a core bridge between the real world and the digital world, converting continuous analog signals such as sound, light, temperature, pressure, and current into digital signals, or converting digital signals from digital ICs into analog signals to drive physical devices. Unlike digital ICs, analog ICs directly handle continuous real-world signals and are used in various applications including sensing and detection, signal processing, power management, and drive control. They are essential components that ensure stable, efficient, and reliable operation of almost all electronic systems.

By function, analog ICs mainly include signal chain ICs and power management ICs. Signal chain ICs have functions such as receiving, transmitting, converting, amplifying, and conditioning analog signals, enabling precise data exchange between the physical world and digital processing systems. Power management ICs are responsible for power conversion, distribution, monitoring, and control in electronic systems, ensuring stable operation under different working conditions.

China is one of the largest consumer markets for analog ICs in the world. The market size of analog ICs in China increased from RMB 158 billion in 2021 to RMB 218.4 billion in 2025, and is expected to reach RMB 389.4 billion by 2030. In terms of product types, the market size of Chinese signal chain ICs increased from RMB 57.1 billion in 2021 to RMB 79.3 billion in 2025, and is expected to reach RMB 133 billion by 2030. The market size of Chinese power management ICs increased from RMB 99 billion in 2021 to RMB 139 billion in 2025, and is expected to reach RMB 256.4 billion by 2030.

Source: Frost & Sullivan Analysis

●Demand Side

The rapid development of fields such as AI, automotive, industrial, and energy is driving growth in the demand for analog ICs and placing higher requirements on their performance. In the AI sector, both cloud and edge deployments increase the demand for high-performance signal chain and power management solutions. In the automotive sector, electrification, intelligence, and connectivity enhance the value of semiconductors in vehicles, promoting the adoption of analog ICs in BMS, autonomous driving, smart cabins, and body control. In industrial and energy sectors, increasing demands for reliability, operating conditions, and system stability further support the simultaneous growth in both quantity and quality of analog ICs.

● Product Side

High-precision signal chains and efficient power management architectures are continuously being upgraded. Low-noise operational amplifiers,low-drift reference sources, high-resolution/high-speed ADCs, low-RON analog switches, and high power suppression ratio LDOs are optimized to support high-quality signal acquisition and processing in complex scenarios. Multi-phase power supplies,DrMOS, digital power control, PoL, GaN drivers, and other power architecture improvements significantly improve power supply efficiency and energy management levels. Companies with platform-based, serialized, and mass-item layout capabilities are better able to meet the diverse needs of different end-users regarding power consumption, speed, accuracy, temperature range, and interface compatibility.

● Policy Side

Policies such as independent control of integrated circuits, domesticization of industrial and automotive equipment, energy structure transformation, and the "Dual Carbon" goal continue to support industry development. These policies provide support for domestic semiconductor companies through tax incentives, R&D support, facilitation of investment and financing, and market validation. At the same time, industrial automation, intelligent equipment, smart production systems, and expansion of new energy infrastructure directly increase the demand for signal chain and power management ICs.

The Chinese analog IC market has long shown a competitive landscape with multiple companies coexisting and being relatively fragmented. International leading enterprises dominate the market due to their long-term technical expertise and product portfolios, while Chinese companies have gradually narrowed the gap with overseas leaders driven by growing demand, domestic substitution, and technological breakthroughs. In 2025, the top eight manufacturers accounted for 37.3% of the market share. By revenue, Shenbang Microelectronics ranked first among Chinese manufacturers and eighth globally with approximately RMB 3.9 billion in revenue and a 1.8% market share. Globally, the company also ranks among the top fifteen in the analog IC market.

Source: Frost & Sullivan Analysis

The Chinese sensor market also has long-term growth potential. Sensors are core devices that convert physical or chemical quantities such as temperature, pressure, acceleration, light, electricity, magnetism, and gas into manageable electrical signals, and are closely related to analog and mixed-signal ICs. In 2025, the market size of Chinese sensors reached RMB 795 billion, and is expected to reach RMB 1,303 billion by 2030. The electrification and intelligence of automobiles, AI infrastructure construction, and breakthroughs and industrialization of embodied intelligence will collectively drive the demand for sensors in areas such as temperature, magnetism, current, pressure, and position detection.

As a leading analog IC company in China, Shenbang Microelectronics can benefit from these industry trends in multiple dimensions: in terms of products, the company continues to expand its product portfolio around signal chains, power management, and sensors, covering various application scenarios such as automotive and energy, automotive, network and computing, and consumer electronics; in terms of technology, the company strengthens its long-term competitive advantages through proprietary manufacturing technologies, platform-based products, and extensive IP reserves; in terms of market, the company, with over 6,000 end-users and continuous design introduction capabilities, is expected to maintain its competitive position in the Chinese and global analog IC markets.

The Chinese sensor market shows steady growth overall. By revenue, the market size of Chinese sensors increased from RMB 649 billion in 2021 to RMB 795 billion in 2025, with a compound annual growth rate of 5.2% from 2021 to 2025. In the future, with the continued development of new energy and smart cars, industrial automation, AI infrastructure, andedge AIintelligent devices, the Chinese sensor market is expected to maintain stable growth. It is predicted that from 2026 to 2030, the compound annual growth rate of the Chinese sensor market will reach 11.0%, and the market size will further grow to RMB 1,303 billion by 2030.

Source: Frost & Sullivan Analysis

The Chinese sensor market shows steady growth overall. By revenue, the market size of Chinese sensors increased from RMB 649 billion in 2021 to RMB 795 billion in 2025, with a compound annual growth rate of 5.2% from 2021 to 2025. In the future, with the continued development of new energy and smart cars, industrial automation, AI infrastructure, and edge AI intelligent devices, the Chinese sensor market is expected to maintain stable growth. It is predicted that from 2026 to 2030, the compound annual growth rate of the Chinese sensor market will reach 11.0%, and the market size will further grow to RMB 1,303 billion by 2030.

● Acceleration of Automotive Electrification and Intelligence

With the transformation of the automotive industry toward electrification and intelligence, the demand for sensors and the technical barriers have increased significantly. The number of sensors per vehicle in new energy and smart cars has more than doubled compared to traditional fuel vehicles. The "three-electric systems" require higher demands for current detection, temperature monitoring, and battery safety management, while motor control systems drive angle sensors to achieve higher precision, lower power consumption, and wider temperature ranges. Additionally, applications such as electric power steering systems, electronic throttle pedals, and electric seats also drive continuous increases in the demand for magnetic sensors.

● Expansion of AI Infrastructure Construction

The rapid construction of computing centers and AI data centers creates continuous demand for sensors. AI data centers integrate a large number of servers, networks, and storage devices, generating significant heat during long-term high-load operations, requiring high-precision monitoring and early warning of core components through temperature sensors to ensure the stability of cooling systems and equipment. Meanwhile, current, pressure, and position sensors support power management, cabinet safety, and operation optimization, becoming an important part of the underlying hardware system in AI data centers.

● Breakthroughs and Industrialization of Embodied Intelligence

Embodied intelligence relies on high-precision motion control and real-time feedback, demanding higher accuracy, sensitivity, and anti-interference capabilities from sensors. Magnetic sensors, with their non-contact, high sensitivity, and strong anti-interference properties, can capture tiny position changes in robot joints and work together with accelerometers and gyroscopes in IMUs to achieve autonomous navigation, dynamic balance, and complex motion control. At the micron-level precision level, a single joint typically requires multiple magnetic sensors and their signal conditioning circuits, further driving the demand for high-performance sensors.