SG Micro plans Hong Kong listing, adjusts board and stock options

SG Micro Corp announced its plan to issue and list H-shares on the main board of The Stock Exchange of Hong Kong Limited to deepen its globalization strategy and enhance competitiveness. This move, approved by the board of directors on August 28, 2025, is subject to shareholder approval and regulatory filings. Concurrently, the company is adjusting its board size from five to seven members, including an increase in independent non-executive directors from two to three and the addition of one employee representative director. Chen Yibin has been nominated as a new independent non-executive director.

In line with the proposed H-share listing, the company will adopt a revised version of its articles of association and related internal governance policies to align with Hong Kong listing rules. Separately, SG Micro Corp has initiated the cancellation of 34,523 stock options and 40,906 restricted shares from its 2023 and 2021 incentive plans, respectively, due to employee departures and performance criteria not being met. Ernst & Young has been appointed as the auditor for the H-share issuance and listing. The board changes and stock option adjustments are contingent on the H-share listing.