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Fabless chip designer known for smart-card, security, FPGA and NFC chips used in ID cards, payments and electronics.
Fabless chip designer known for smart-card, security, FPGA and NFC chips used in ID cards, payments and electronics.
Sells security and smart-card chips on repeat orders from government identity and bank-card programmes, alongside FPGAs, chips customers program themselves after buying, for telecom and industrial equipment makers. This is the Hong Kong H-share line of the Shanghai-listed company, so both lines are claims on the same business.
In one line: A Chinese fabless chip designer specializing in smart-card and security ICs.
Moat: narrow (IP / patents, customer qualification). Established security-certification track record for government ID and payment-card chips.
Headquarters: Shanghai, China · Founded: 1998 · Employees: 1,958
Size Shanghai Fudan Microelectronics (1385.HK) is a Hong Kong Information Technology company (Semiconductors) with a market value of $4.55B, the 271st largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$22.12 on 6 Nov 2026.
Performance Over six months the shares fell 47.7%, against -26.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue grew 21.0% over the last twelve months (peer median +24.6%); the operating margin is 12.8% (peer median 6.9%).
Valuation It trades at 12.7× forward earnings against a peer median of 26.1× (3rd cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 19% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is +1 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 1.3 points above its cost of capital (8.1% WACC).
Next results Next results expected around 17 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$5.15B | HK$4.30B | HK$3.89B | HK$3.91B | HK$4.09B |
| Revenue growth | — | +11% | 0% | -5% | — |
| Gross profit | HK$3.11B | HK$2.17B | HK$1.98B | HK$2.23B | HK$2.54B |
| EBITDA | n/a | HK$582M | HK$846M | HK$952M | HK$1.42B |
| Net income | HK$1.11B | HK$252M | HK$621M | HK$795M | HK$1.25B |
| Free cash flow | HK$1.05B | HK$567M | HK$113M | -HK$1.72B | -HK$520M |
| Capital expenditure | HK$294M | HK$288M | HK$686M | HK$940M | HK$910M |
| Total debt | HK$1.53B | HK$1.69B | HK$1.83B | HK$1.67B | HK$115M |
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 |
|---|---|---|---|---|---|---|
| Shanghai Fudan Microelectronics 1385.HK | $4.55B | -48% | +21% | 13% | 12.7× | 19.3% |
| NXP Semiconductors NXPI | $62.6B | -15% | +15% | 30% | 14.1× | 16.3% |
| Advanced Micro Devices AMD | $733B | -1% | +42% | 18% | 30.0× | 60.9% |
| Unigroup Guoxin Microelectronics 002049.SZ | $6.37B | -35% | -1% | 18% | 25.5× | 24.4% |
| Infineon Technologies IFX.DE | $66.8B | -33% | +6% | 13% | 26.0× | 30.2% |
| Giga Device Semiconductor 603986.SS | $25.3B | -23% | +166% | 50% | 10.9× | 16.5% |
| Lattice Semiconductor LSCC | $14.9B | -17% | +63% | 13% | 26.2× | n/a |
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 | 1385.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.8% | -21.1% | 9th highest of 21 |
| 6-month return | -47.7% | -26.6% | 7th lowest of 20 |
| Distance from 52-week high | -61.2% | -58.3% | 9th lowest of 21 |
| Revenue growth (TTM) | +21.0% | +24.6% | 10th lowest of 21 |
| Operating margin | 12.8% | 6.9% | 10th highest of 21 |
| Forward P/E | 12.7× | 26.1× | 3rd cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 19.3% | 30.9% | 3rd least demanding of 10 |
| Growth delivered (Del g) | +18.1% | +16.5% | 4th highest of 10 |
| Hurdle (Req g minus delivered) | +1.2 pp | +15.6 pp | 3rd least demanding of 10 |
| ROIC minus cost of capital | +1.3 pp | -2.0 pp | 7th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Fudan Microelectronics 1385.HK | Hong Kong | $4.55B | -48% | +21% | 13% | 12.7× | 19.3% | +18.1% |
| Macronix International 2337.TW | Taiwan | $4.52B | -53% | +127% | 38% | 1.8× | -7.5% | -6.2% |
| Maxscend Microelectronics 300782.SZ | China | $4.51B | -47% | -6% | -25% | n/a | n/a | n/a |
| Powertech Technology 6239.TW | Taiwan | $4.61B | -11% | +24% | 13% | 13.2× | n/a | n/a |
| Synaptics SYNA | United States | $4.63B | -7% | +11% | -3% | 21.6× | 34.6% | -2.2% |
| MaxLinear MXL | United States | $4.48B | -51% | +56% | -1% | 12.1× | n/a | n/a |
| Chongqing Genori Technology 688797.SS | China | $4.45B | n/a | +37% | 29% | n/a | n/a | n/a |
| Bestechnic (Shanghai) 688608.SS | China | $4.41B | +2% | -26% | 8% | 50.6× | 42.7% | +27.1% |
| Shenzhen Goodix Technology 603160.SS | China | $4.35B | -2% | -7% | 6% | 51.0× | 26.7% | -6.8% |
| Hanwha Solutions 009830.KS | South Korea | $4.30B | -49% | +14% | 0% | 20.1× | n/a | n/a |
| Premier Energies PREMIERENE.NS | India | $4.28B | -13% | +32% | 25% | 19.7× | n/a | n/a |
| CSI Solar 688472.SS | China | $4.87B | -37% | -36% | -2% | 48.8× | n/a | n/a |
| Applied Optoelectronics AAOI | United States | $4.26B | -66% | +62% | -11% | 23.5× | n/a | n/a |
| Hunan Goke Microelectronics 300672.SZ | China | $4.24B | -27% | +54% | 5% | 56.9× | 46.0% | +19.7% |
| MaxOne Semiconductor (Suzhou) 688809.SS | China | $4.90B | +2% | +57% | 39% | n/a | n/a | n/a |
| Shanghai Aiko Solar Energy 600732.SS | China | $4.23B | -13% | +25% | -8% | n/a | n/a | n/a |
| eMemory Technology 3529.TWO | Taiwan | $4.17B | -58% | +17% | 61% | 45.0× | 32.2% | +16.7% |
| Zhejiang Quartz Crystal Optoelectronic Technology 002273.SZ | China | $5.03B | -28% | +19% | 18% | 24.9× | 16.9% | +16.5% |
| EverProX Technologies 300548.SZ | China | $5.04B | -59% | +64% | 35% | 33.5× | 30.9% | +26.6% |
| Jiangsu Leadmicro Nano Technology 688147.SS | China | $4.06B | -26% | -5% | 3% | 82.1× | n/a | n/a |
| Dosilicon 688110.SS | China | $5.13B | -7% | +375% | 54% | 27.4× | 23.6% | +3.3% |