As one of China's key strategic industries during the 13th Five Year Plan period, the integrated circuit industry drives the development of downstream emerging industries such as cloud computing, big data and the Internet of things. It is an important force to maintain national competitiveness and ensure information security. In recent years, China's integrated circuit design industry has developed rapidly and the industrial scale has been expanding. Since 2014, the average annual growth rate has reached more than 20%. In this context of rapid development, IC listed companies may pay too much attention to the growth rate, resulting in insufficient economic resources and affecting the long-term development of enterprises. Therefore, it is of great significance to realize the sustainable financial growth of IC listing. The research idea of this paper is mainly divided into three parts: firstly, it studies the development status and industrial value chain of China's integrated circuit industry, and obtains the smile curve of the integrated circuit industry according to the current situation of China's integrated circuit listed enterprises. Secondly, 45 A-share listed companies are analyzed by using factor analysis and regression analysis, and the main factors affecting the financial sustainable growth of China's IC listed enterprises are obtained. Finally, select typical case enterprises from the final direction of IC industry upgrading - IC design field, and conduct comparative analysis from the two perspectives of the main influencing factors obtained from regression analysis and sustainable growth model, so as to find the problems and loopholes existing in the financial sustainable growth of listed IC enterprises, And get the relevant enlightenment to make the listed integrated circuit companies achieve sustainable growth. According to the above ideas, the paper draws four main conclusions: first, the value creation ability of the integrated circuit industry taking the sample listed companies as an example shows a typical smile curve, but in theory, the final direction of industrial upgrading with high added value - the design field has not opened the gap with other fields; Second, China's listed IC companies have not yet achieved sustainable financial growth, the actual growth rate is higher than the sustainable growth rate, the overall growth is too fast, the situation of sustainable financial growth is not optimistic, and profitability, operating capacity and solvency have a certain impact on the sustainable growth of China's listed IC companies, among which profitability is the most important factor; Third, the case listed company has not achieved sustainable growth, which can be improved by optimizing capital structure, strengthening asset turnover and establishing core products; Fourth, there is a significant relationship between the strategic choice of IC design enterprises and the financial sustainable growth ability and specific financial influencing factors.