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Chinese maker of LCD and OLED display panels used in smartphones, tablets, automotive and industrial screens.
Chinese maker of LCD and OLED display panels used in smartphones, tablets, automotive and industrial screens.
Specializes in small and mid-sized displays rather than TV panels, so its niche is phones, car dashboards and industrial devices where designs are customised. AVIC, the state-owned aviation group, is the controlling shareholder. Fabs are capital-intensive and run across several Chinese cities.
In one line: A China-focused, smaller BOE.
Moat: narrow (scale, customer qualification). Capital-intensive panel fabs and OEM design-in qualification create switching costs, though the industry is cyclical.
Headquarters: Shenzhen, China · Employees: 23,538
Size Tianma Microelectronics (000050.SZ) is a China Information Technology company (Computer Peripherals) with a market value of $2.05B, the 1233rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.60 on 6 Nov 2026.
Performance Over six months the shares fell 26.5%, against -16.9% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue fell 3.4% over the last twelve months (peer median +8.9%); the operating margin is -0.7% (peer median 8.0%).
Valuation It trades at 29.5× forward earnings against a peer median of 16.5× (6th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 15 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥34.9B | CN¥36.2B | CN¥33.4B | CN¥32.2B | CN¥31.4B |
| Revenue growth | — | +8% | +4% | +3% | — |
| Gross profit | CN¥8.70B | CN¥4.69B | CN¥3.19B | CN¥1.51B | CN¥3.54B |
| EBITDA | n/a | CN¥6.62B | CN¥5.35B | CN¥2.15B | CN¥3.25B |
| Net income | -CN¥1.41B | CN¥167M | -CN¥669M | -CN¥2.10B | CN¥112M |
| Free cash flow | CN¥2.40B | CN¥4.73B | CN¥2.74B | -CN¥426M | CN¥1.16B |
| Capital expenditure | CN¥2.46B | CN¥2.25B | CN¥3.01B | CN¥4.40B | CN¥2.81B |
| Total debt | CN¥29.0B | CN¥30.8B | CN¥36.7B | CN¥40.0B | CN¥38.6B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Tianma Microelectronics 000050.SZ | $2.05B | -27% | -3% | -1% | 29.5× | -6.2% |
| BOE Technology 000725.SZ | $25.3B | +9% | -4% | 2% | 21.4× | -3.9% |
| TCL Technology 000100.SZ | $15.0B | +7% | +5% | 0% | 13.1× | -4.7% |
| Japan Display 6740.T | $773M | -74% | -25% | -9% | n/a | n/a |
| LG Display Co., Ltd Sponsored ADR LPL | $2.72B | -42% | -10% | 2% | 10.8× | -8.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000050.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.4% | -8.0% | 10th lowest of 21 |
| 6-month return | -26.5% | -16.9% | 4th lowest of 21 |
| Distance from 52-week high | -49.0% | -40.0% | 5th lowest of 21 |
| Revenue growth (TTM) | -3.4% | +8.9% | 5th lowest of 21 |
| Operating margin | -0.7% | 8.0% | 8th lowest of 21 |
| Forward P/E | 29.5× | 16.5× | 6th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | -6.2% | 27.3% | 2nd least demanding of 10 |
| Growth delivered (Del g) | +4.4% | +4.9% | 4th lowest of 10 |
| Hurdle (Req g minus delivered) | -10.6 pp | +22.4 pp | 3rd least demanding of 10 |
| ROIC minus cost of capital | +0.5 pp | +9.3 pp | 10th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tianma Microelectronics 000050.SZ | China | $2.05B | -27% | -3% | -1% | 29.5× | -6.2% | +4.4% |
| Beijing Dahao Technology 603025.SS | China | $2.04B | -25% | +23% | 29% | n/a | 7.4% | +29.2% |
| Chicony Electronics 2385.TW | Taiwan | $1.96B | -31% | -8% | 7% | 15.4× | -9.6% | +0.1% |
| Kardex KARN.SW | Switzerland | $2.35B | -9% | +3% | 9% | 30.3× | 11.8% | +12.5% |
| Netweb Technologies India NETWEB.NS | India | $2.37B | -12% | +175% | 13% | 55.9× | 46.1% | +72.5% |
| Societe Industrielle & Financiere de l'Artois ARTO.PA | France | $2.55B | -26% | -6% | -8% | n/a | n/a | n/a |
| Newland Digital Technology 000997.SZ | China | $2.56B | -14% | +29% | 11% | 16.0× | n/a | n/a |
| Venustech 002439.SZ | China | $2.58B | -9% | 0% | -16% | 169.0× | 19.0% | -8.6% |
| VusionGroup VU.PA | France | $2.61B | +11% | +45% | 10% | 16.5× | n/a | n/a |
| InfoVision Optoelectronics (Kunshan) 688055.SS | China | $1.56B | -23% | -24% | -19% | n/a | n/a | n/a |
| Innodisk 5289.TWO | Taiwan | $2.76B | -35% | +334% | 49% | 2.5× | n/a | n/a |
| Nancal Technology 603859.SS | China | $1.49B | -5% | +10% | 12% | 42.5× | n/a | n/a |
| Toyou Feiji Electronics 300302.SZ | China | $1.49B | -24% | +5% | -15% | n/a | n/a | n/a |
| AURAS Technology 3324.TWO | Taiwan | $2.90B | -10% | +71% | 16% | 15.1× | n/a | n/a |
| Visionox Technology 002387.SZ | China | $1.35B | -20% | -1% | -35% | n/a | 50.6% | +18.9% |
| Extreme Networks EXTR | United States | $3.15B | 0% | +11% | 6% | 17.2× | 27.3% | +4.9% |
| ADATA Technology 3260.TWO | Taiwan | $3.16B | -33% | +125% | 34% | 4.5× | n/a | n/a |
| Scantech (Hangzhou) 688583.SS | China | $1.31B | -20% | +4% | 1% | n/a | n/a | n/a |
| Transcend Information 2451.TW | Taiwan | $3.22B | -13% | +286% | 67% | 3.2× | n/a | n/a |
| NSFOCUS Technologies 300369.SZ | China | $1.29B | +45% | +8% | -4% | 266.0× | 38.1% | +4.9% |
| Hua Ying Technology (Group) 000536.SZ | China | $1.27B | -23% | -13% | -54% | n/a | 47.9% | -8.6% |