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Employees: 664
Size MicroTech Medical (Hangzhou) (2235.HK) is a Hong Kong Information Technology company (Electronic Equipment/Instruments) with a market value of $354M, the 845th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$6.60 on 6 Nov 2026.
Performance Over six months the shares fell 15.4%, against -26.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 94.8% over the last twelve months (peer median +1.1%); the operating margin is 7.7% (peer median 3.2%).
Valuation It trades at 26.7× forward earnings against a peer median of 18.1× (4th most expensive of 10).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +53%, so the hurdle is -50 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.7 points above its cost of capital (6.7% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$926M | HK$713M | HK$372M | HK$279M | HK$202M |
| Revenue growth | — | +92% | +33% | +38% | — |
| Gross profit | HK$522M | HK$375M | HK$187M | HK$124M | HK$86.8M |
| EBITDA | HK$88.2M | HK$13.4M | -HK$150M | -HK$215M | -HK$154M |
| Net income | HK$92.4M | HK$43.5M | -HK$68.4M | -HK$138M | -HK$40.8M |
| Free cash flow | HK$33.6M | -HK$6.80M | -HK$221M | -HK$201M | -HK$173M |
| Capital expenditure | HK$62.8M | HK$42.2M | HK$90.2M | HK$31.7M | HK$34.6M |
| Total debt | n/a | HK$102M | HK$4.47M | HK$9.25M | HK$804,138 |
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.
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 | 2235.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.0% | -17.6% | 3rd highest of 21 |
| 6-month return | -15.4% | -26.6% | 8th highest of 21 |
| Distance from 52-week high | -20.3% | -45.0% | highest of 21 |
| Revenue growth (TTM) | +94.8% | +1.1% | 2nd highest of 21 |
| Operating margin | 7.7% | 3.2% | 6th highest of 21 |
| Forward P/E | 26.7× | 18.1× | 4th most expensive of 10 |
| Growth the price implies (Req g, 7 yrs) | 3.5% | 11.2% | 4th least demanding of 12 |
| Growth delivered (Del g) | +53.2% | +2.8% | highest of 12 |
| Hurdle (Req g minus delivered) | -49.7 pp | +15.8 pp | least demanding of 12 |
| ROIC minus cost of capital | +1.7 pp | -5.9 pp | 3rd highest of 21 |
| EV / EBITDA | 12.8× | 47.8× | 4th cheapest of 9 |
| Net debt / EBITDA | -18.7× | -0.0× | least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| MicroTech Medical (Hangzhou) 2235.HK | Hong Kong | $354M | -15% | +95% | 8% | 26.7× | 3.5% | +53.2% |
| Hefei Gocom Information Technology 688367.SS | China | $357M | -33% | -10% | -1% | n/a | 55.8% | -1.3% |
| Chongqing MAS Science & Technology 300275.SZ | China | $351M | -28% | -13% | 6% | 17.1× | 35.3% | +9.0% |
| General Oceans GENO.OL | Norway | $359M | -32% | +34% | 13% | 18.1× | -1.9% | +34.3% |
| Beijing AriTime Intelligent Control 600560.SS | China | $359M | -26% | +33% | 4% | n/a | n/a | n/a |
| Shenzhen Maxonic Automation Control 300112.SZ | China | $350M | -13% | -6% | -2% | n/a | n/a | n/a |
| Kyosan Electric Manufacturing 6742.T | Japan | $350M | +26% | +9% | 7% | 8.3× | 2.0% | +8.4% |
| INTEKPLUS 064290.KS | South Korea | $347M | +18% | -12% | -11% | 112.1× | n/a | n/a |
| Nagano Keiki 7715.T | Japan | $364M | +1% | +2% | 11% | 8.1× | -0.4% | +8.6% |
| Beijing Labtech Instruments 688056.SS | China | $368M | -1% | 0% | 5% | 66.2× | 34.7% | +2.8% |
| NEOSEM 253590.KS | South Korea | $369M | -37% | -31% | 5% | 13.0× | n/a | n/a |
| ZheJiang Tailin Bioengineering 300813.SZ | China | $340M | -27% | +6% | 2% | n/a | n/a | n/a |
| Jiangsu Skyray Instrument 300165.SZ | China | $340M | -38% | -8% | -16% | n/a | 7.8% | -8.0% |
| Hangzhou Huaxing Chuangye Communication Technology 300025.SZ | China | $373M | -15% | -16% | -24% | n/a | 36.0% | -6.5% |
| Xingyuan Environment Technology 300266.SZ | China | $378M | -33% | -27% | -22% | n/a | n/a | n/a |
| SmartGen (Zhengzhou) Technology 301361.SZ | China | $380M | -19% | +22% | 27% | n/a | 9.0% | +10.6% |
| Guangdong Fangyuan New Materials 688148.SS | China | $328M | -59% | +27% | 0% | n/a | n/a | n/a |
| C.C.P. Contact Probes 6217.TWO | Taiwan | $383M | -63% | +26% | -3% | 24.3× | n/a | n/a |
| Exicon 092870.KS | South Korea | $383M | +13% | +273% | 11% | 36.9× | n/a | n/a |
| Red Phase 300427.SZ | China | $391M | -53% | +13% | -15% | n/a | 36.9% | -13.7% |
| Hangzhou Everfine Photo-E-Info 300306.SZ | China | $394M | -23% | -3% | 10% | n/a | 11.2% | +0.2% |