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Chinese maker of LED lighting products and optoelectronic components.
Chinese maker of LED lighting products and optoelectronic components.
In one line: A China-based LED lighting maker.
Moat: none. Highly competitive, price-driven Chinese LED lighting market.
Headquarters: Dongguan, China · Employees: 813
Size Dongguan Kingsun Optoelectronic (002638.SZ) is a China Consumer Discretionary company (Other Consumer Services) with a market value of $849M, the 2625th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.94 on 6 Nov 2026.
Performance Over six months the shares fell 15.8%, against -13.4% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 23.7% over the last twelve months (peer median +4.9%); the operating margin is -34.4% (peer median 13.1%).
Valuation It trades at 15.5× enterprise value to sales against a peer median of 2.3× (most expensive of 21).
Capital Return on invested capital runs 16.6 points below its cost of capital (9.4% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥304M | CN¥384M | CN¥377M | CN¥327M | CN¥564M |
| Revenue growth | — | +2% | +15% | -42% | — |
| Gross profit | CN¥48.1M | CN¥48.8M | CN¥34.4M | CN¥9.55M | CN¥77.4M |
| EBITDA | n/a | -CN¥57.1M | -CN¥79.7M | -CN¥188M | -CN¥164M |
| Net income | -CN¥242M | -CN¥327M | -CN¥249M | -CN¥59.1M | CN¥43.4M |
| Free cash flow | -CN¥159M | -CN¥80.5M | -CN¥87.3M | CN¥61.1M | CN¥94.7M |
| Capital expenditure | CN¥56.9M | CN¥68.6M | CN¥44.2M | CN¥14.1M | CN¥6.21M |
| Total debt | CN¥45.4M | CN¥10.1M | CN¥15.2M | CN¥5.54M | CN¥0 |
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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 | 002638.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.5% | -1.4% | 5th lowest of 21 |
| 6-month return | -15.8% | -13.4% | 9th lowest of 21 |
| Distance from 52-week high | -23.8% | -35.8% | 4th highest of 21 |
| Revenue growth (TTM) | -23.7% | +4.9% | lowest of 21 |
| Operating margin | -34.4% | 13.1% | 2nd lowest of 21 |
| EV / Sales | 15.5× | 2.3× | most expensive of 21 |
| ROIC minus cost of capital | -16.6 pp | +4.5 pp | 2nd lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Dongguan Kingsun Optoelectronic 002638.SZ | China | $849M | -16% | -24% | -34% | 15.5× | n/a | n/a |
| Shaanxi Tourism Culture Industry 603402.SS | China | $832M | -36% | -18% | 54% | 3.1× | -15.9% | +27.6% |
| Webbeds WEB.AX | Australia | $871M | +45% | +20% | 25% | 2.6× | 4.5% | +50.3% |
| TripAdvisor TRIP | United States | $820M | -38% | -4% | 5% | 0.5× | -6.6% | +25.6% |
| Trainline TRN.L | United Kingdom | $887M | -5% | +1% | 27% | 2.0× | -8.0% | +46.5% |
| China Travel International Investment Hong Kong 0308.HK | Hong Kong | $809M | 0% | -7% | 11% | 1.9× | 5.4% | +15.7% |
| Mader MAD.AX | Australia | $806M | -29% | +15% | 9% | 1.1× | 5.2% | +26.9% |
| Caissa Tourism 000796.SZ | China | $805M | -36% | +42% | -10% | 5.5× | n/a | n/a |
| Voyageurs du Monde ALVDM.PA | France | $896M | +28% | +4% | 8% | 0.7× | 1.8% | +46.3% |
| Dalian Sunasia Tourism 600593.SS | China | $793M | +19% | +5% | 32% | 12.0× | n/a | n/a |
| Emei Shan Tourism 000888.SZ | China | $789M | -16% | -8% | 15% | 3.9× | 3.2% | +15.1% |
| Sats SATS.OL | Norway | $937M | +10% | +5% | 18% | 2.6× | -5.9% | +10.6% |
| Afya AFYA | United States | $960M | -25% | +17% | 32% | 1.9× | -16.3% | +23.2% |
| UTour 002707.SZ | China | $740M | -15% | -9% | 2% | 0.6× | 9.7% | +33.8% |
| China CYTS Tours 600138.SS | China | $737M | -25% | +15% | 3% | 1.0× | 1.5% | +9.7% |
| Lijiang Yulong Tourism 002033.SZ | China | $687M | -12% | +8% | 37% | 4.7× | 0.8% | +14.8% |
| American Public Education APEI | United States | $682M | -34% | +4% | 10% | 0.9× | 0.4% | +15.1% |
| CATARC Automotive Proving Ground 301215.SZ | China | $1.10B | -12% | +23% | 43% | 10.7× | n/a | n/a |
| eDreams ODIGEO EDR.MC | Spain | $637M | +59% | -3% | 12% | 1.3× | 2.9% | +44.2% |
| China Gingko Education 1851.HK | Hong Kong | $629M | +56% | +14% | 38% | 10.9× | 5.9% | +16.9% |
| Zhang Jia Jie Tourism 000430.SZ | China | $1.15B | -22% | +20% | -81% | 13.6× | n/a | n/a |