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Shenzhen-based electronics/connector maker; specific product line not established from available knowledge.
Shenzhen-based electronics/connector maker; specific product line not established from available knowledge.
Moat: none
Headquarters: Shenzhen, China · Employees: 180
Size Shenzhen Success Electronics (002289.SZ) is a China Information Technology company (Electronic Production Equipment) with a market value of $1.33B, the 1819th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥31.68 on 6 Nov 2026.
Performance Over six months the shares fell 9.0%, against -25.7% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 237.2% over the last twelve months (peer median +11.6%); the operating margin is 27.3% (peer median 8.5%).
Valuation It trades at 11.9× enterprise value to sales against a peer median of 3.4× (3rd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 24% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.1 points below its cost of capital (9.9% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥931M | CN¥327M | CN¥217M | CN¥155M | CN¥135M |
| Revenue growth | — | +51% | +40% | +15% | — |
| Gross profit | CN¥436M | CN¥79.7M | CN¥36.2M | CN¥16.7M | CN¥10.0M |
| EBITDA | n/a | CN¥34.7M | -CN¥5.93M | -CN¥10.2M | -CN¥18.3M |
| Net income | CN¥290M | -CN¥14.6M | -CN¥17.6M | CN¥964,417 | -CN¥25.5M |
| Free cash flow | CN¥354M | CN¥120M | -CN¥50.3M | -CN¥15.3M | -CN¥7.95M |
| Capital expenditure | CN¥78.0M | CN¥2.27M | CN¥4.43M | CN¥6.07M | CN¥666,984 |
| Total debt | CN¥2.37B | CN¥3.43B | CN¥44.2M | CN¥33.2M | CN¥14.7M |
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.
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 | 002289.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.0% | -14.3% | 5th highest of 21 |
| 6-month return | -9.0% | -25.7% | 6th highest of 20 |
| Distance from 52-week high | -37.9% | -51.1% | 7th highest of 21 |
| Revenue growth (TTM) | +237.2% | +11.6% | highest of 21 |
| Operating margin | 27.3% | 8.5% | highest of 21 |
| EV / Sales | 11.9× | 3.4× | 3rd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 24.4% | 13.1% | 5th most demanding of 13 |
| Growth delivered (Del g) | +18.8% | +5.9% | 5th highest of 13 |
| Hurdle (Req g minus delivered) | +5.5 pp | +3.5 pp | 6th most demanding of 13 |
| ROIC minus cost of capital | -3.1 pp | -2.4 pp | 10th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Success Electronics 002289.SZ | China | $1.33B | -9% | +237% | 27% | 11.9× | 24.4% | +18.8% |
| Dongguan Tarry Electronics 300976.SZ | China | $1.33B | +4% | +19% | 9% | 2.2× | 17.5% | +27.2% |
| Doosan Fuel Cell 336260.KS | South Korea | $1.33B | -56% | -19% | -31% | 3.8× | n/a | n/a |
| TPV Technology 000727.SZ | China | $1.38B | -23% | +7% | -1% | 0.5× | n/a | n/a |
| TXC 3042.TW | Taiwan | $1.28B | -26% | +9% | 17% | 2.9× | 10.7% | +3.9% |
| TKD Science and Technology 603738.SS | China | $1.39B | -37% | +20% | 9% | 8.3× | 44.4% | +8.4% |
| Grand Process Technology 3131.TWO | Taiwan | $1.27B | -51% | +38% | 22% | 5.5× | 13.0% | +21.2% |
| Nolato NOLA-B.ST | Sweden | $1.40B | +5% | 0% | 10% | 1.4× | 3.9% | +0.2% |
| Shenzhen Hui Chuang Da Technology 300909.SZ | China | $1.26B | +4% | +3% | 2% | 5.6× | n/a | n/a |
| Maxvision Technology 002990.SZ | China | $1.26B | -39% | +36% | 14% | 6.6× | n/a | n/a |
| Suzhou Betely Polymer Materials 301697.SZ | China | $1.44B | n/a | +45% | 5% | 2.6× | n/a | n/a |
| WindSun Science & Technology 688663.SS | China | $1.23B | -14% | -9% | 3% | 4.2× | 48.5% | +18.9% |
| Aurora Optoelectronics 600666.SS | China | $1.22B | -44% | +44% | -15% | 13.6× | 35.2% | -1.9% |
| Fuman Microelectronics 300671.SZ | China | $1.21B | -22% | +71% | 3% | 6.4× | n/a | n/a |
| Shenzhen Fenda Technology 002681.SZ | China | $1.19B | -15% | +7% | -1% | 3.0× | 27.1% | -5.2% |
| Dongjin Semichem 005290.KS | South Korea | $1.18B | -44% | -4% | 16% | 1.2× | -4.4% | +5.0% |
| Guangdong Suqun New Material 301489.SZ | China | $1.16B | -54% | +24% | 8% | 6.7× | n/a | n/a |
| Shenzhen Sinexcel Electric 300693.SZ | China | $1.57B | -28% | +27% | 15% | 2.6× | 13.1% | +35.0% |
| Harbin Xinguang Optic-Electronics Technology 688011.SS | China | $1.11B | +17% | +14% | -42% | 42.7× | n/a | n/a |
| Photronics PLAB | United States | $1.61B | -49% | +1% | 22% | 1.6× | 1.9% | +6.9% |
| CTS CTS | United States | $1.65B | -6% | +7% | 16% | 2.8× | 8.5% | +5.0% |