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Makes LED backlight components for phones/laptops/vehicles, plus lithium-battery composite copper foil - two unrelated businesses, not a core chipmaker.
Makes LED backlight components for phones/laptops/vehicles, plus lithium-battery composite copper foil - two unrelated businesses, not a core chipmaker.
Earns from two separate businesses: backlight units sold to display and device makers, and composite copper foil, a plastic film coated with copper, sold to battery makers as a lighter alternative to solid copper foil. Backlights are the older base, while the battery foil is a later expansion into a different industry.
In one line: A Chinese display-backlight and battery-materials maker spanning two unrelated segments.
Moat: none (scale). Operates in two competitive, capital-intensive component markets with limited differentiation.
Headquarters: Shenzhen, China · Founded: 2006 · Employees: 1,834
Size Shenzhen Baoming Technology (002992.SZ) is a China Information Technology company (Semiconductors) with a market value of $887M, the 2546th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥32.69 on 6 Nov 2026.
Performance Over six months the shares fell 37.7%, against -15.8% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue fell 20.3% over the last twelve months (peer median +7.7%); the operating margin is -0.7% (peer median 0.8%).
Valuation It trades at 5.8× enterprise value to sales against a peer median of 5.4× (10th most expensive of 21).
Capital Return on invested capital runs 2.5 points below its cost of capital (6.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.15B | CN¥1.30B | CN¥1.52B | CN¥1.32B | CN¥939M |
| Revenue growth | — | -14% | +15% | +41% | — |
| Gross profit | CN¥221M | CN¥150M | CN¥106M | CN¥80.1M | -CN¥14.6M |
| EBITDA | n/a | CN¥124M | CN¥53.9M | CN¥2,860 | -CN¥24.7M |
| Net income | -CN¥15.5M | CN¥11.9M | -CN¥76.4M | -CN¥124M | -CN¥223M |
| Free cash flow | -CN¥32.8M | CN¥2.27M | -CN¥20.0M | -CN¥176M | -CN¥144M |
| Capital expenditure | CN¥91.3M | CN¥107M | CN¥122M | CN¥93.8M | CN¥210M |
| Total debt | CN¥1.01B | CN¥906M | CN¥922M | CN¥1.02B | CN¥686M |
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 |
|---|---|---|---|---|---|---|
| Shenzhen Baoming Technology 002992.SZ | $887M | -38% | -20% | -1% | 5.8× | n/a |
| Shenzhen Jieshun Science & Technology Industry 002609.SZ | $683M | -14% | +5% | 3% | 2.4× | 1.9% |
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 | 002992.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.8% | -17.1% | 2nd highest of 21 |
| 6-month return | -37.7% | -15.8% | 4th lowest of 21 |
| Distance from 52-week high | -43.8% | -41.7% | 10th lowest of 21 |
| Revenue growth (TTM) | -20.3% | +7.7% | 2nd lowest of 21 |
| Operating margin | -0.7% | 0.8% | 11th highest of 21 |
| EV / Sales | 5.8× | 5.4× | 10th most expensive of 21 |
| ROIC minus cost of capital | -2.5 pp | -4.6 pp | 10th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Baoming Technology 002992.SZ | China | $887M | -38% | -20% | -1% | 5.8× | n/a | n/a |
| Sitronix Technology 8016.TW | Taiwan | $894M | +5% | +18% | 13% | 1.0× | -9.1% | +6.6% |
| Zhejiang Chenfeng Science and Technology 603685.SS | China | $896M | -28% | -14% | 4% | 6.9× | n/a | n/a |
| United Renewable Energy 3576.TW | Taiwan | $876M | +15% | -43% | -62% | 12.2× | n/a | n/a |
| Arteris AIP | United States | $875M | -44% | +34% | -44% | 9.0× | 55.4% | +17.3% |
| VIA Technologies 2388.TW | Taiwan | $874M | -35% | -3% | -12% | 2.5× | 17.9% | +8.0% |
| Netac Technology 300042.SZ | China | $872M | -44% | +103% | 10% | 2.7× | n/a | n/a |
| Episil-Precision 3016.TW | Taiwan | $865M | -10% | +30% | 14% | 5.8× | 40.5% | -0.7% |
| Taiwan Speciality Chemicals 4772.TWO | Taiwan | $862M | -38% | +164% | 40% | 7.8× | 11.0% | +36.7% |
| Parade Technologies 4966.TWO | Taiwan | $915M | -31% | -3% | 14% | 1.9× | 3.8% | +1.6% |
| Ambiq Micro AMBQ | United States | $933M | -13% | +32% | -43% | 5.8× | n/a | n/a |
| Smarter Microelectronics (Guangzhou) 688512.SS | China | $835M | -11% | +43% | -30% | 5.0× | n/a | n/a |
| Etron Technology 5351.TWO | Taiwan | $835M | +13% | +246% | 21% | 2.6× | 3.3% | +2.6% |
| Dioo Microcircuits Co., Ltd. Jiangsu 688381.SS | China | $948M | -15% | -18% | -46% | 11.1× | n/a | n/a |
| General Interface Solution (GIS) 6456.TW | Taiwan | $824M | 0% | -19% | -3% | 0.3× | n/a | n/a |
| Jiangsu Zongyi 600770.SS | China | $961M | -35% | +64% | -4% | 9.7× | 43.6% | +4.7% |
| Foshan Electrical and Lighting 000541.SZ | China | $967M | -8% | -3% | -2% | 1.1× | n/a | n/a |
| Shanghai Prisemi Electronics 688230.SS | China | $970M | -23% | +31% | 19% | 8.7× | 31.1% | +1.3% |
| Hangzhou Star Shuaier Electric Appliance 002860.SZ | China | $810M | +16% | -14% | 7% | 2.5× | 19.8% | +18.4% |
| Everlight Electronics 2393.TW | Taiwan | $807M | -17% | -3% | 10% | 0.8× | -11.7% | -1.9% |
| Hengbao 002104.SZ | China | $977M | -35% | -17% | -9% | 8.0× | n/a | n/a |