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Employees: 1,208
Size Launch Tech (2488.HK) is a Hong Kong Information Technology company (Electronic Production Equipment) with a market value of $466M, the 775th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$6.05 on 6 Nov 2026.
Performance Over six months the shares fell 29.2%, against -25.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 22.0% over the last twelve months (peer median +6.9%); the operating margin is 15.8% (peer median 0.5%).
Valuation It trades at 1.4× enterprise value to sales against a peer median of 2.4× (8th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -12% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -26 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 20.8 points above its cost of capital (6.2% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$2.46B | HK$2.28B | HK$2.03B | HK$1.76B | HK$1.36B |
| Revenue growth | — | +12% | +15% | +29% | — |
| Gross profit | HK$1.14B | HK$1.05B | HK$926M | HK$712M | HK$457M |
| EBITDA | HK$427M | HK$429M | HK$415M | HK$263M | HK$133M |
| Net income | HK$363M | HK$373M | HK$368M | HK$187M | HK$381M |
| Free cash flow | n/a | HK$464M | HK$344M | HK$86.7M | HK$12.0M |
| Capital expenditure | n/a | HK$59.5M | HK$81.8M | HK$95.7M | HK$72.2M |
| Total debt | n/a | HK$309M | HK$285M | HK$455M | HK$629M |
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 | 2488.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.9% | -15.4% | 8th highest of 21 |
| 6-month return | -29.2% | -25.8% | 10th lowest of 21 |
| Distance from 52-week high | -34.8% | -47.6% | 3rd highest of 21 |
| Revenue growth (TTM) | +22.0% | +6.9% | 3rd highest of 21 |
| Operating margin | 15.8% | 0.5% | 4th highest of 21 |
| EV / Sales | 1.4× | 2.4× | 8th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -12.1% | 9.9% | least demanding of 13 |
| Growth delivered (Del g) | +13.8% | +4.8% | 3rd highest of 13 |
| Hurdle (Req g minus delivered) | -25.9 pp | +3.6 pp | least demanding of 13 |
| ROIC minus cost of capital | +20.8 pp | -6.6 pp | 2nd highest of 21 |
| EV / EBITDA | 8.1× | 8.6× | 5th cheapest of 9 |
| Net debt / EBITDA | -0.5× | -1.5× | 5th most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Launch Tech 2488.HK | Hong Kong | $466M | -29% | +22% | 16% | 1.4× | -12.1% | +13.8% |
| Kimball Electronics KE | United States | $462M | -26% | -4% | 4% | 0.3× | 4.0% | +2.1% |
| Tianjin Jieqiang Power Equipment 300875.SZ | China | $451M | -23% | +143% | -28% | 8.0× | 27.9% | +3.5% |
| Solomon Technology 2359.TW | Taiwan | $483M | -25% | +3% | 0% | 2.8× | 58.1% | +3.8% |
| Group Up Industrial 6664.TWO | Taiwan | $483M | -44% | +11% | 34% | 5.2× | 3.9% | +9.8% |
| KMW 032500.KS | South Korea | $488M | -47% | -9% | -26% | 7.4× | n/a | n/a |
| Note NOTE.ST | Sweden | $445M | -12% | +9% | 9% | 1.4× | 0.0% | +15.3% |
| Ways Electron 605218.SS | China | $431M | -30% | +20% | -2% | 1.1× | n/a | n/a |
| Shenzhen Zowee Tech 002369.SZ | China | $431M | -30% | -8% | -15% | 2.2× | n/a | n/a |
| SFA Engineering 056190.KS | South Korea | $505M | -23% | -12% | 5% | 0.7× | -5.4% | +1.0% |
| AMPOC Far-East 2493.TW | Taiwan | $510M | -2% | +6% | 17% | 3.8× | 7.0% | +7.7% |
| Shanghai Hollywave Electronic System 688682.SS | China | $426M | -42% | +29% | -12% | 8.1× | 17.3% | +5.7% |
| Guangdong Tecsun Science & Technology 002908.SZ | China | $425M | -22% | -14% | -11% | 5.0× | 28.9% | -0.1% |
| Inventronics (Hangzhou) 300582.SZ | China | $424M | -35% | -4% | -20% | 1.6× | n/a | n/a |
| Yes Optoelectronics (Group) 002952.SZ | China | $423M | -38% | +14% | 3% | 2.7× | 21.7% | +14.8% |
| Chipsea Technologies Shenzhen 688595.SS | China | $521M | -30% | +12% | -16% | 4.4× | n/a | n/a |
| uPI Semiconductor 6719.TW | Taiwan | $522M | -14% | +8% | 16% | 1.2× | -6.0% | +1.8% |
| Koa 6999.T | Japan | $415M | -6% | +22% | 7% | 1.0× | 12.7% | +7.5% |
| Shenzhen Txd Technology 002845.SZ | China | $535M | -18% | -3% | 1% | 0.7× | n/a | n/a |
| Shenzhen CDL Precision Technology 300686.SZ | China | $535M | -23% | -7% | -14% | 2.5× | n/a | n/a |
| ICHIA Technologies 2402.TW | Taiwan | $405M | -38% | +13% | 6% | 1.3× | n/a | n/a |