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Chinese maker of camera modules, touch panels and optical components for smartphones, autos and AR/VR devices.
Chinese maker of camera modules, touch panels and optical components for smartphones, autos and AR/VR devices.
Sells modules in large volumes to phone makers and carmakers at thin margins, so profit depends on yield and factory utilisation more than on price. After losing Apple's business, it refocused on Chinese phone brands and, increasingly, automotive cameras.
In one line: A China-based Largan Precision / Sunny Optical peer in camera modules.
Moat: narrow (scale, customer qualification). High-volume module assembly qualified across major domestic phone and auto-ADAS supply chains.
Headquarters: Nanchang, China · Founded: 2002 · Employees: 11,415
Size OFILM (002456.SZ) is a China Information Technology company (Electronic Production Equipment) with a market value of $3.10B, the 836th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.66 on 6 Nov 2026.
Performance Over six months the shares fell 35.0%, against -22.6% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 17.0% over the last twelve months (peer median +19.7%); the operating margin is -1.1% (peer median 7.4%).
Valuation It trades at 1.5× enterprise value to sales against a peer median of 5.7× (6th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 27% a year for seven years (Req g). Recent delivered growth is -14%, so the hurdle is +41 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 3.4 points below its cost of capital (7.6% WACC).
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥18.1B | CN¥22.1B | CN¥20.4B | CN¥16.8B | CN¥14.8B |
| Revenue growth | — | +8% | +22% | +14% | — |
| Gross profit | CN¥2.17B | CN¥1.80B | CN¥1.92B | CN¥1.25B | -CN¥531M |
| EBITDA | n/a | CN¥1.61B | CN¥1.51B | CN¥896M | -CN¥2.32B |
| Net income | -CN¥600M | CN¥41.6M | CN¥58.4M | CN¥76.9M | -CN¥5.18B |
| Free cash flow | CN¥128M | -CN¥261M | -CN¥423M | -CN¥798M | CN¥1.12B |
| Capital expenditure | CN¥522M | CN¥538M | CN¥502M | CN¥303M | CN¥726M |
| Total debt | CN¥8.27B | CN¥9.03B | CN¥8.87B | CN¥8.30B | CN¥8.57B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| OFILM 002456.SZ | $3.10B | -35% | -17% | -1% | 1.5× | 27.0% |
| Largan Precision 3008.TW | $17.7B | +76% | 0% | 35% | 7.5× | 12.6% |
| Sunny Optical 2382.HK | $8.92B | -3% | +20% | 8% | 1.2× | 4.9% |
| LG Innotek 011070.KS | $4.62B | -54% | +20% | 4% | 0.2× | -0.3% |
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 | 002456.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.4% | -27.8% | 6th highest of 21 |
| 6-month return | -35.0% | -22.6% | 8th lowest of 21 |
| Distance from 52-week high | -56.3% | -49.7% | 10th lowest of 21 |
| Revenue growth (TTM) | -17.0% | +19.7% | lowest of 21 |
| Operating margin | -1.1% | 7.4% | 2nd lowest of 21 |
| EV / Sales | 1.5× | 5.7× | 6th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 27.0% | 14.5% | 3rd most demanding of 11 |
| Growth delivered (Del g) | -14.4% | +8.3% | lowest of 11 |
| Hurdle (Req g minus delivered) | +41.5 pp | -2.0 pp | most demanding of 11 |
| ROIC minus cost of capital | -3.4 pp | -2.8 pp | 10th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| OFILM 002456.SZ | China | $3.10B | -35% | -17% | -1% | 1.5× | 27.0% | -14.4% |
| Guangdong Create Century Intelligent Equipment 300083.SZ | China | $3.13B | +7% | +35% | 11% | 3.3× | n/a | n/a |
| OPT Machine Vision Tech 688686.SS | China | $2.96B | +48% | +38% | 12% | 11.6× | n/a | n/a |
| Exosens EXENS.PA | France | $2.95B | -11% | +15% | 17% | 5.7× | 24.3% | +25.6% |
| Olympic Circuit Technology 603920.SS | China | $3.29B | -42% | +21% | 6% | 3.1× | n/a | n/a |
| Fositek 6805.TW | Taiwan | $3.50B | -15% | +46% | 27% | 7.1× | 14.7% | +41.1% |
| Zhejiang Jiemei Electronic & Technology 002859.SZ | China | $2.71B | -21% | +26% | 13% | 8.3× | n/a | n/a |
| Vishay Intertechnology VSH | United States | $3.57B | -32% | +18% | 5% | 0.9× | 18.8% | +4.2% |
| Marketech International 6196.TW | Taiwan | $2.68B | +8% | +44% | 7% | 1.3× | 6.3% | +15.5% |
| Changsha Jingjia Microelectronics 300474.SZ | China | $3.59B | -30% | +50% | -77% | 27.9× | n/a | n/a |
| Forehope Electronic (Ningbo) 688362.SS | China | $2.67B | -19% | +19% | 0% | 5.4× | n/a | n/a |
| LG Display 034220.KS | South Korea | $2.61B | -42% | -7% | 2% | 0.1× | -13.4% | +1.2% |
| AXT AXTI | United States | $2.55B | -67% | +89% | 20% | 12.5× | n/a | n/a |
| Sinomag Technology 300835.SZ | China | $2.54B | +10% | +18% | 6% | 11.8× | n/a | n/a |
| Jones Tech 300684.SZ | China | $3.83B | +20% | +15% | 20% | 12.2× | 42.9% | +9.8% |
| Universal Display OLED | United States | $3.98B | -4% | -2% | 35% | 5.7× | 14.3% | +8.7% |
| Shenzhen Zesum Technology 301486.SZ | China | $2.41B | -42% | +57% | 3% | 9.9× | n/a | n/a |
| Nippon Electric Glass 5214.T | Japan | $2.32B | -44% | +3% | 8% | 1.1× | 2.4% | +5.1% |
| VECO VECO | United States | $2.27B | -37% | -3% | 4% | 3.1× | 37.1% | +7.9% |
| Universal Microwave Technology 3491.TWO | Taiwan | $2.26B | -36% | +36% | 27% | 22.6× | n/a | n/a |
| Alps Alpine 6770.T | Japan | $2.23B | -24% | +5% | 3% | 0.3× | -3.8% | +7.3% |