On the evening of October 26, SG Micro Corp announced that it plans to acquire a 58.2878% stake in Shanghai Shenxiling Microelectronics Technology Co., Ltd. (hereinafter referred to as "Sensylink") for a total consideration of CNY 833 million, using own funds, self-raised funds, and/or proceeds raised from its H-share listing. Upon completion of the transaction, SG Micro will become the controlling shareholder of Sensylink, and Sensylink will be included in SG Micro's consolidated financial statements.
By reading this article, you will understand: What exactly is this acquisition? What kind of company is Sensylink, and why did SG Micro decide to buy it? Which other companies has SG Micro acquired in recent years?
01 Acquisition Details Revealed: Why Acquire Sensylink?
According to the announcement, SG Micro intends to acquire a 58.2878% stake in Sensylink via cash transfer from 27 parties, including Shanghai Feiyu Enterprise Management Consulting Partnership (Limited Partnership) and Shanghai Jinruobo Investment Management Co., Ltd., with a total transaction price of CNY832.698626 million.
The transaction adopts differentiated pricing, comprehensively considering factors such as the investment duration and cost of different transferring parties, determined through negotiation among all parties.
In terms of transferring parties, there are 27 entities involved, including 5 natural persons and 22 enterprises such as Yunnan Nantian Yingfutaik, Hangzhou Hetang Innovation, Beijing Hetang Exploration, Suzhou Juyuan Zhenxin, and Shenzhen Nanshan Skyworth. After the transaction is completed, these 27 parties will fully exit Sensylink .
Five partnership enterprises—Shanghai Sisen, Shanghai Silin, Shanghai Siling Sen, Shanghai Linsi, and Shanghai Sensi—as well as Anhui Chuangwei Qihang, Shanghai Xiyu Electronics, and legal representative Wang Yu, will not participate in this transfer and collectively retain a 41.71% stake in Sensylink . Among them, Shanghai Sisen holds 24.46%, making it the second-largest shareholder.
Currently, this transaction has been approved by the 22nd meeting of the fifth board of directors of SG Micro, and a "Share Transfer Agreement" has been signed. It does not require approval by the shareholders' meeting.
What kind of company is Sensylink ?
Sensylink was established in 2015 with a registered capital of CNY 60 million. Its legal representative is Wang Yu.
The company focuses on the design of sensor chips and mixed-signal chips. Its products cover categories such as temperature sensors, humidity and temperature sensors, digital interface chips, and digital-to-analog converter chips. Downstream applications span industrial, networking and computing, medical, and smart wearable fields.
In the field of temperature sensing, an article published on Sensylink's official website on March 5 of this year indicated that Sensylink was collaborating with Qualcomm to implement miniaturized high-precision temperature sensing on the new Snapdragon Wear Elite platform.
Additionally, the announcement disclosed some unaudited financial data of Sensylink . As of June 30, 2026, Sensylink's total assets amounted to CNY389 million, and net assets were CNY 348 million. In 2025, Sensylink achieved operating revenue of CNY 240 million and net profit of CNY 7.2037 million. From January to June 2026, it achieved operating revenue of CNY 150 million and net profit of CNY 14.4987 million. In the first half of this year, Sensylink's revenue reached more than 60% of last year's full-year figure, while net profit was approximately double that of last year's full-year amount.
The announcement stated that this transaction represents horizontal business integration for SG Micro within the analog chip sector. Sensylink and SG Micro both belong to the semiconductor industry, with their products and application scenarios forming complementary differences, and they have accumulated a pool of high-quality end-customer resources. Both parties possess strong synergies in market channels, customer resources, and supply chains. Through this acquisition, SG Micro will consolidate advantageous resources from all sides, further refine its product line layout, expand R&D team capabilities, and enhance overall competitiveness.
02 Which Companies Have Been Acquired Along the Way?
SG Micro was founded in 2007 and listed on the ChiNext board of the Shenzhen Stock Exchange in 2017. Its products cover analog signal and mixed-signal products, spanning fields such as signal chain, power management, sensors, and memory. Signal chain and power management are the company's two core businesses and also form the important foundation for its competitiveness in the domestic analog chip market.
Since the establishment of SG Micro, the company's M&A history is roughly as follows:
From 2018 to 2021, SG Micro successively acquired relevant assets of Dalian Alpha, Yutai Semiconductor (acquiring a 28.7% equity stake), Shanghai Pingsheng, Hangzhou Shen'an, Suzhou Qingxinfang, and Shanghai Fangtai. These acquisitions focused on expanding product lines and R&D teams in areas such as power management, signal chain, and RF.
Starting from 2025, the direction of M&A has further broadened. SG Micro acquired Ganrui Intelligent and Shanghai Yicunxin, strengthening its product layout in magnetic sensors and memory. In October 2026, it announced plans to acquire a 58.29% stake in Sensylink for approximately CNY 833 million, supplementing its product lines in temperature sensors and mixed-signal chips.
SG Micro's M&A path has gradually become clear. Initially, it focused on completing products in core analog chips such as power management and signal chain. In the past two years, it has further expanded into fields like sensors and memory.
According to SG Micro's 2025 annual report, the company currently offers over 6,800 sellable products across 38 major categories, covering signal chain, power management, and sensors, including more than 500 automotive-grade chips. In 2025, the company launched nearly 900 new products with independent intellectual property rights, continuously expanding its product matrix.
Since 2017, benefiting from the acceleration of domestic substitution and combined with internal R&D and external expansion to constantly broaden downstream customers and product varieties, SG Micro's revenue has maintained an overall upward trend.
The company's revenue jumped from CNY 532 million in 2017 to CNY 3.188 billion in 2022, with revenue and net profit growing rapidly in tandem. In 2024-2025, revenue hit historical highs consecutively, achieving approximately CNY 3.898 billion in 2025.
However, although the revenue scale has exceeded the peak of the previous boom cycle, net profit attributable to parent company shareholders had not yet recovered to the 2022 level as of 2025.
In 2023, the semiconductor industry entered an inventory adjustment cycle. Weak demand in downstream consumer electronics and industrial control sectors led to a decline in revenue, causing net profit attributable to parent company shareholders to drop significantly to CNY 281 million. Net profit attributable to parent company shareholders in 2025 was CNY 547 million, still below the 2022 peak.
In the first half of 2026, the company achieved operating revenue of CNY 2.595 billion and net profit attributable to parent company shareholders of CNY 420 million, representing year-on-year increases of 42.70% and 109.28%, respectively.
By business segment, signal chain product revenue in the first half was CNY 1.036 billion, up 53.13% year-on-year; power management product revenue was CNY 1.521 billion, up 35.45% year-on-year. Both core businesses maintained relatively fast growth.
SG Micro stated that performance growth mainly benefited from the continuous launch of new products, an increased proportion of high-end products, and the expansion of application fields and customer groups. Specifically, the company completed multi-category product layouts in the optical module field, while sales of related products in the industrial sector grew, jointly driving the increase in first-half revenue.
03 Conclusion
Aside from SG Micro, domestic analog chip manufacturers such as NOVOSENSE and Awinic Electronics are also continuously broadening their product lines, extending into fields like MCU, sensors, and interface chips. Moving from single products to multi-category layouts is becoming a choice for an increasing number of vendors.
As product lines become richer, they can meet more diverse customer needs. However, buying in products is only the first step. The more critical task ahead lies in how to truly integrate technology, teams, and customer resources.