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Zhejiang-based technology company; specific product line is not confirmed.
Zhejiang-based technology company; specific product line is not confirmed.
Moat: narrow
Headquarters: Zhejiang, China · Employees: 871
Size Zhejiang MTCN Technology (003026.SZ) is a China Information Technology company (Semiconductors) with a market value of $742M, the 2939th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥26.10 on 6 Nov 2026.
Performance Over six months the shares fell 24.3%, against -32.7% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 19 in its peer set.
Growth Revenue grew 29.5% over the last twelve months (peer median +29.8%); the operating margin is 17.5% (peer median -5.3%).
Valuation It trades at 9.5× enterprise value to sales against a peer median of 4.5× (3rd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 31% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +21 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 0.8 points above its cost of capital (10.7% WACC).
Next results Next results expected around 4 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥547M | CN¥426M | CN¥420M | CN¥346M | CN¥336M |
| Revenue growth | — | +2% | +21% | +3% | — |
| Gross profit | CN¥267M | CN¥150M | CN¥106M | CN¥90.3M | CN¥115M |
| EBITDA | n/a | CN¥115M | CN¥92.0M | CN¥18.9M | CN¥78.3M |
| Net income | CN¥83.3M | CN¥43.1M | CN¥22.8M | -CN¥34.1M | CN¥19.4M |
| Free cash flow | CN¥24.1M | CN¥42.7M | CN¥12.9M | -CN¥70.5M | -CN¥114M |
| Capital expenditure | CN¥12.3M | CN¥8.77M | CN¥29.0M | CN¥127M | CN¥226M |
| Total debt | CN¥398M | CN¥392M | CN¥395M | CN¥354M | CN¥355M |
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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 | 003026.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.4% | -13.0% | 11th highest of 21 |
| 6-month return | -24.3% | -32.7% | 6th highest of 19 |
| Distance from 52-week high | -47.6% | -56.5% | 6th highest of 21 |
| Revenue growth (TTM) | +29.5% | +29.8% | 11th highest of 21 |
| Operating margin | 17.5% | -5.3% | 3rd highest of 21 |
| EV / Sales | 9.5× | 4.5× | 3rd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 30.7% | 19.9% | 3rd most demanding of 7 |
| Growth delivered (Del g) | +9.5% | +3.4% | 2nd highest of 7 |
| Hurdle (Req g minus delivered) | +21.2 pp | +12.2 pp | 4th least demanding of 7 |
| ROIC minus cost of capital | +0.8 pp | -6.9 pp | 5th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhejiang MTCN Technology 003026.SZ | China | $742M | -24% | +29% | 17% | 9.5× | 30.7% | +9.5% |
| Changzhou Shichuang Energy 688429.SS | China | $733M | -13% | +30% | -38% | 5.7× | n/a | n/a |
| Canadian Solar CSIQ | United States | $755M | -45% | -16% | -2% | 1.7× | n/a | n/a |
| Yuneng Technology 688348.SS | China | $729M | -39% | -40% | -58% | 5.6× | n/a | n/a |
| SFA Semicon 036540.KS | South Korea | $728M | -27% | +37% | -4% | 2.2× | n/a | n/a |
| Myson Century 5314.TWO | Taiwan | $759M | -39% | +235% | 19% | 5.9× | 9.2% | +172.5% |
| Changzhou Galaxy Century Microelectronics 688689.SS | China | $723M | -9% | +29% | 11% | 3.1× | n/a | n/a |
| CEVA CEVA | United States | $763M | -27% | +9% | -10% | 4.8× | n/a | n/a |
| Tech Semiconductors 300046.SZ | China | $766M | -33% | +27% | 8% | 9.2× | 45.7% | -1.6% |
| Aeva Technologies AEVA | United States | $767M | -34% | +56% | -611% | 33.4× | n/a | n/a |
| Alpha and Omega Semiconductor L AOSL | United States | $716M | -38% | -2% | -6% | 0.8× | n/a | n/a |
| Hd Hyundai Energy Solutions 322000.KS | South Korea | $714M | -63% | +39% | 16% | 1.5× | 3.2% | +4.5% |
| X-FAB Silicon Foundries XFAB.PA | France | $709M | -38% | -8% | 2% | 1.3× | n/a | n/a |
| Xinte Energy 1799.HK | Hong Kong | $707M | -41% | +12% | -6% | 1.8× | n/a | n/a |
| SENASIC Electronics Technology 6675.HK | Hong Kong | $779M | n/a | +45% | -11% | 8.4× | n/a | n/a |
| Shenzhen Topray Solar 002218.SZ | China | $779M | -32% | -8% | -17% | 6.7× | 35.9% | -5.6% |
| PixArt Imaging 3227.TWO | Taiwan | $781M | -20% | +5% | 18% | 2.7× | 0.0% | +2.3% |
| Infotmic 000670.SZ | China | $782M | -18% | +38% | 2% | 1.1× | n/a | n/a |
| Lingda 300125.SZ | China | $702M | -26% | +54% | -102% | 26.2× | n/a | n/a |
| Shenzhen Sunmoon Microelectronics 688699.SS | China | $698M | -24% | +50% | 9% | 4.9× | 30.7% | +4.9% |
| Crealights Technology 1191.HK | Hong Kong | $790M | n/a | +42% | -7% | 4.2× | n/a | n/a |