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The awards will be conferred on the athletes by President Droupadi Murmu at the Rashtrapati Bhavan on January 9.
The world No.1 pair of Liang Wei Keng and Wang dashed the Indian duo's hopes of claiming a second BWF Super 750 title.
The top seeds will face another Chinese pair in the summit clash.
H S Prannoy's campaign ended after he lost to Japan's Kodai Naraoka 9-21, 14-21 in the men's singles quarterfinal.
Prannoy, seeded eighth, will now take on third-seeded Japanese Kodai Naraoka.
The top-seeded Indian combination went down to world No. 21 Lu Ching Yao and Yang Po Han of Chinese Taipei in a 63-minute match.
Sindhu quelled a strong challenge from Indonesia's Gregoria Mariska Tunjung.
The world No. 3 Indian pair lost the opening game 17-21 . However, Satwik and Chirag won the second game 21-13 and the decider 21-14.
The world No. 3 Indian combination, seeded third, got the better of the second seeds in the semifinal.
The world No. 3 pair beat Takuro Hoki and Yugo Kobayashi 21-14, 21-17 to seal their spot in the last four.
Results 21-30 of 68
