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Laser-equipment and optoelectronics group making industrial lasers, optical modules for telecom/datacom, and sensors.
Laser-equipment and optoelectronics group making industrial lasers, optical modules for telecom/datacom, and sensors.
Sells laser machines to manufacturers, and optical modules, the plug-in parts that convert electrical signals to light in networking gear, to telecom and data-center equipment makers, where speed upgrades drive orders. The two lines follow separate cycles: factory investment for lasers, network and AI build-outs for modules.
In one line: A Chinese IPG Photonics/Lumentum hybrid.
Moat: narrow (process know-how, IP / patents). University-linked (HUST) laser and photonics R&D heritage gives technical depth across several niches.
Headquarters: Wuhan, Hubei, China · Founded: 1999 · Employees: 9,462
Size Huagong Tech (000988.SZ) is a China Industrials company (Industrial Machinery) with a market value of $9.54B, the 262nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥63.26 on 6 Nov 2026.
Performance Over six months the shares fell 47.1%, against -13.3% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 16.2% over the last twelve months (peer median +9.1%); the operating margin is 7.0% (peer median 16.1%).
Valuation It trades at 30.9× forward earnings against a peer median of 21.0× (6th most expensive of 21).
Capital Return on invested capital runs 4.2 points below its cost of capital (11.9% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥16.0B | CN¥14.3B | CN¥11.7B | CN¥10.3B | CN¥12.0B |
| Revenue growth | — | +23% | +14% | -14% | — |
| Gross profit | CN¥3.47B | CN¥2.86B | CN¥2.37B | CN¥2.17B | CN¥2.12B |
| EBITDA | n/a | CN¥1.66B | CN¥1.11B | CN¥860M | CN¥810M |
| Net income | CN¥1.82B | CN¥1.47B | CN¥1.22B | CN¥1.01B | CN¥906M |
| Free cash flow | -CN¥1.00B | CN¥246M | CN¥23.3M | CN¥1.09B | CN¥285M |
| Capital expenditure | CN¥1.17B | CN¥1.01B | CN¥710M | CN¥399M | CN¥296M |
| Total debt | CN¥6.30B | CN¥6.58B | CN¥5.62B | CN¥4.43B | CN¥4.52B |
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 |
|---|---|---|---|---|---|---|
| Huagong Tech 000988.SZ | $9.54B | -47% | +16% | 7% | 30.9× | n/a |
| IPG Photonics IPGP | $2.78B | -38% | +15% | 5% | 32.8× | 24.8% |
| Lumentum LITE | $48.9B | -40% | +103% | 23% | 18.8× | 41.7% |
| Han's Laser Technology Industry 002008.SZ | $7.97B | -48% | +59% | 12% | 19.1× | 19.6% |
| Zhongji Innolight 300308.SZ | $79.4B | -48% | +162% | 41% | 15.4× | 23.2% |
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 | 000988.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -27.3% | -6.0% | 6th lowest of 21 |
| 6-month return | -47.1% | -13.3% | 3rd lowest of 21 |
| Distance from 52-week high | -66.3% | -41.9% | 4th lowest of 21 |
| Revenue growth (TTM) | +16.2% | +9.1% | 10th highest of 21 |
| Operating margin | 7.0% | 16.1% | lowest of 21 |
| Forward P/E | 30.9× | 21.0× | 6th most expensive of 21 |
| ROIC minus cost of capital | -4.2 pp | +3.1 pp | 6th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Huagong Tech 000988.SZ | China | $9.54B | -47% | +16% | 7% | 30.9× | n/a | n/a |
| Ebara 6361.T | Japan | $9.28B | -40% | +9% | 11% | 14.5× | n/a | n/a |
| NIBE Industrier NIBE-B.ST | Sweden | $9.25B | +7% | +2% | 10% | 27.3× | 13.5% | +8.5% |
| Guangdong Dtech Technology 301377.SZ | China | $9.23B | -18% | +119% | 36% | 50.9× | n/a | n/a |
| Indutrade INDT.ST | Sweden | $9.94B | +39% | +6% | 12% | 28.6× | 18.4% | +10.9% |
| Shenzhen Han's CNC Technology 301200.SZ | China | $9.08B | -25% | +98% | 21% | 32.1× | n/a | n/a |
| Beijing E-Town Semiconductor Technology 688729.SS | China | $8.94B | -14% | +10% | 12% | 52.3× | n/a | n/a |
| Flowserve FLS | United States | $10.2B | +13% | 0% | 14% | 17.8× | 15.0% | +4.9% |
| IMI IMI.L | United Kingdom | $8.81B | +3% | +8% | 21% | 19.9× | 14.3% | +4.8% |
| Pentair PNR | United States | $10.9B | -11% | -4% | 22% | 13.2× | 7.1% | +6.7% |
| Graco GGG | United States | $10.9B | -13% | +5% | 27% | 20.0× | 8.1% | +6.3% |
| Daifuku 6383.T | Japan | $10.9B | -33% | +21% | 15% | 18.9× | 14.7% | +8.3% |
| BELIMO BEAN.SW | Switzerland | $11.0B | +1% | +20% | 21% | 37.2× | 12.5% | +11.1% |
| GlobalWafers 6488.TWO | Taiwan | $8.15B | -23% | -6% | 11% | 21.4× | n/a | n/a |
| Han's Laser Technology Industry 002008.SZ | China | $7.97B | -48% | +59% | 12% | 19.1× | 19.6% | +9.5% |
| Rational Aktiengesellschaft RAA.DE | Germany | $7.95B | -4% | +6% | 27% | 26.1× | 14.8% | +14.2% |
| Wuxi Lead Intelligent Equipment 0470.HK | Hong Kong | $7.95B | -61% | +35% | 10% | 13.3× | 8.2% | +19.0% |
| Watts Water Technologies WTS | United States | $11.6B | +17% | +17% | 19% | 24.6× | 15.8% | +10.1% |
| Madison Air Solutions MAIR | United States | $11.6B | -45% | +27% | 17% | 20.6× | 31.9% | +27.3% |
| Leader Harmonious Drive Systems 688017.SS | China | $7.84B | +27% | +46% | 15% | 283.8× | n/a | n/a |
| Lennox International LII | United States | $11.7B | -34% | +2% | 19% | 15.3× | 5.0% | +7.4% |