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Taiwan-invested PCB manufacturer based in Kunshan, making multilayer circuit boards for consumer electronics and communications equipment.
Taiwan-invested PCB manufacturer based in Kunshan, making multilayer circuit boards for consumer electronics and communications equipment.
In one line: A China-based peer to Taiwan's Unimicron/TTM in PCB manufacturing.
Moat: none (process know-how). Commodity multilayer PCB manufacturing in a highly fragmented, price-competitive industry.
Headquarters: Kunshan, China · Founded: 1996 · Employees: 15,243
Size Wus Printed Circuit (Kunshan) (002463.SZ) is a China Information Technology company (Electronic Components) with a market value of $21.2B, the 101st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥73.21 on 6 Nov 2026.
Performance Over six months the shares fell 28.6%, against -24.6% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 60.6% over the last twelve months (peer median +33.4%); the operating margin is 27.7% (peer median 12.9%).
Valuation It trades at 18.2× forward earnings against a peer median of 21.2× (9th cheapest of 21).
Capital Return on invested capital runs 15.6 points above its cost of capital (12.2% WACC).
Next results Next results expected around 25 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥28.7B | CN¥18.9B | CN¥13.3B | CN¥8.89B | CN¥8.29B |
| Revenue growth | — | +42% | +49% | +7% | — |
| Gross profit | CN¥11.9B | CN¥6.58B | CN¥4.49B | CN¥2.70B | CN¥2.45B |
| EBITDA | n/a | CN¥4.89B | CN¥3.36B | CN¥2.03B | CN¥1.77B |
| Net income | CN¥6.73B | CN¥3.82B | CN¥2.59B | CN¥1.51B | CN¥1.36B |
| Free cash flow | -CN¥2.46B | CN¥760M | CN¥279M | CN¥1.56B | CN¥750M |
| Capital expenditure | CN¥6.37B | CN¥3.20B | CN¥2.15B | CN¥810M | CN¥877M |
| Total debt | CN¥10.3B | CN¥5.49B | CN¥4.24B | CN¥2.97B | CN¥1.84B |
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 |
|---|---|---|---|---|---|---|
| Wus Printed Circuit (Kunshan) 002463.SZ | $21.2B | -29% | +61% | 28% | 18.2× | n/a |
| Shennan Circuit 002916.SZ | $20.4B | -36% | +51% | 18% | 22.6× | n/a |
| Victory Giant Technology (HuiZhou) 300476.SZ | $18.3B | -62% | +38% | 26% | 17.2× | n/a |
| Unimicron Technology 3037.TW | $35.4B | -19% | +33% | 13% | 20.1× | 45.9% |
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 | 002463.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -36.8% | -39.8% | 8th highest of 21 |
| 6-month return | -28.6% | -24.6% | 9th lowest of 21 |
| Distance from 52-week high | -53.7% | -50.8% | 8th lowest of 21 |
| Revenue growth (TTM) | +60.6% | +33.4% | 4th highest of 21 |
| Operating margin | 27.7% | 12.9% | 3rd highest of 21 |
| Forward P/E | 18.2× | 21.2× | 9th cheapest of 21 |
| ROIC minus cost of capital | +15.6 pp | +3.9 pp | 5th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wus Printed Circuit (Kunshan) 002463.SZ | China | $21.2B | -29% | +61% | 28% | 18.2× | n/a | n/a |
| Chaozhou Three-Circle (Group) 300408.SZ | China | $21.6B | -15% | +65% | 34% | 28.1× | 23.7% | +17.7% |
| Shennan Circuit 002916.SZ | China | $20.4B | -36% | +51% | 18% | 22.6× | n/a | n/a |
| Ibiden 4062.T | Japan | $22.1B | +164% | +26% | 18% | 39.2× | 39.2% | +5.2% |
| Victory Giant Technology (HuiZhou) 300476.SZ | China | $18.3B | -62% | +38% | 26% | 17.2× | n/a | n/a |
| Largan Precision 3008.TW | Taiwan | $17.7B | +76% | 0% | 35% | 26.0× | 12.6% | +1.8% |
| Tdk 6762.T | Japan | $25.4B | -27% | +25% | 10% | 15.0× | 18.2% | +11.1% |
| NVT NVT | United States | $17.2B | -38% | +48% | 18% | 16.4× | 16.2% | +14.3% |
| Nan Ya Printed Circuit Board 8046.TW | Taiwan | $17.1B | -12% | +34% | 12% | 26.1× | 58.7% | +0.8% |
| Celestica CLS.TO | Canada | $26.3B | -44% | +61% | 9% | 11.5× | 11.0% | +17.6% |
| Suzhou Dongshan Precision Manufacturing 002384.SZ | China | $26.9B | -57% | +56% | 11% | 18.0× | n/a | n/a |
| Avary Holding (Shenzhen) 002938.SZ | China | $16.2B | -35% | +8% | 10% | 22.4× | n/a | n/a |
| Gold Circuit Electronics 2368.TW | Taiwan | $12.9B | -45% | +68% | 26% | 14.5× | 14.2% | +20.7% |
| Zhen Ding Technology Holding Lt 4958.TW | Taiwan | $12.8B | -12% | +5% | 9% | 18.4× | n/a | n/a |
| Unimicron Technology 3037.TW | Taiwan | $35.4B | -19% | +33% | 13% | 20.1× | 45.9% | +8.3% |
| Accelink Technologies 002281.SZ | China | $10.8B | -37% | +32% | 11% | 42.6× | n/a | n/a |
| Kinsus Interconnect Technology 3189.TW | Taiwan | $10.7B | +27% | +34% | 14% | 29.4× | 41.2% | +7.7% |
| Sunny Optical 2382.HK | Hong Kong | $8.92B | -3% | +20% | 8% | 14.8× | 4.9% | +1.9% |
| Innolux 3481.TW | Taiwan | $8.71B | +32% | +11% | 0% | 62.6× | 37.3% | -3.4% |
| Shenzhen Kinwong Electronic 603228.SS | China | $8.38B | -23% | +33% | 12% | 22.6× | n/a | n/a |
| Taiwan Union Technology 6274.TWO | Taiwan | $8.21B | -26% | +87% | 23% | 13.9× | n/a | n/a |