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Chinese designer of automotive-grade chips and software for autonomous driving and smart-cockpit systems.
Chinese designer of automotive-grade chips and software for autonomous driving and smart-cockpit systems.
Sells its driving chips together with software and development tools to Chinese carmakers and their tier-1 suppliers, so revenue arrives as design wins turn into vehicle production, usually with a long lag. Listed in Hong Kong in 2024, it invests heavily in chip development ahead of that revenue.
In one line: A small Chinese Mobileye/Qualcomm-Auto challenger.
Moat: narrow (IP / patents, process know-how, customer qualification). In-house chip-plus-software stack positions it as a domestic alternative to Qualcomm/Mobileye/Nvidia in Chinese cars.
Headquarters: Shanghai, China · Founded: 2016 · Employees: 1,037
Size Black Sesame International (2533.HK) is a Hong Kong Information Technology company (Semiconductors) with a market value of $555M, the 732nd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$6.29 on 6 Nov 2026.
Performance Over six months the shares fell 65.7%, against -39.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 73.4% over the last twelve months (peer median +20.1%); the operating margin is -147.8% (peer median 2.2%).
Valuation It trades at 3.4× enterprise value to sales against a peer median of 3.6× (9th cheapest of 20).
Capital Return on invested capital runs 117.4 points below its cost of capital (8.3% WACC).
Next results Next results expected around 6 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$1.15B | HK$892M | HK$514M | HK$345M | HK$192M |
| Revenue growth | — | +73% | +49% | +79% | — |
| Gross profit | HK$438M | HK$248M | HK$89.1M | -HK$10.4M | -HK$1.26M |
| EBITDA | -HK$1.57B | -HK$1.48B | -HK$1.79B | -HK$1.80B | -HK$1.17B |
| Net income | -HK$1.60B | -HK$1.55B | HK$340M | -HK$5.36B | -HK$3.20B |
| Free cash flow | -HK$1.77B | -HK$1.15B | -HK$1.36B | -HK$1.26B | -HK$931M |
| Capital expenditure | HK$113M | HK$93.0M | HK$60.3M | HK$148M | HK$76.8M |
| Total debt | n/a | HK$856M | HK$768M | HK$13.9B | HK$9.35B |
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 |
|---|---|---|---|---|---|---|
| Black Sesame International 2533.HK | $555M | -66% | +73% | -148% | 3.4× | n/a |
| Horizon Robotics 9660.HK | $7.61B | -48% | +46% | -101% | 11.0× | n/a |
| Qualcomm QCOM | $177B | -24% | +2% | 24% | 4.2× | 15.9% |
| Mobileye Global MBLY | $4.87B | -38% | +3% | -18% | 1.7× | 1.8% |
| Nvidia NVDA | $4.50T | -13% | +83% | 65% | 14.7× | 26.3% |
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 | 2533.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -33.4% | -16.6% | 3rd lowest of 21 |
| 6-month return | -65.7% | -39.4% | lowest of 20 |
| Distance from 52-week high | -76.1% | -54.8% | lowest of 21 |
| Revenue growth (TTM) | +73.4% | +20.1% | 3rd highest of 20 |
| Operating margin | -147.8% | 2.2% | lowest of 20 |
| EV / Sales | 3.4× | 3.6× | 9th cheapest of 20 |
| ROIC minus cost of capital | -117.4 pp | -6.3 pp | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Black Sesame International 2533.HK | Hong Kong | $555M | -66% | +73% | -148% | 3.4× | n/a | n/a |
| Yingkou Jinchen Machinery 603396.SS | China | $555M | -24% | -5% | 5% | 1.3× | 21.1% | +21.8% |
| JinkoSolar Holding Co., Ltd. Sponsored ADR JKS | United States | $551M | -55% | -15% | -8% | 0.8× | n/a | n/a |
| Shenzhen EXC-LED Technology 300889.SZ | China | $562M | -29% | +20% | -7% | 3.2× | n/a | n/a |
| Jiangsu Rijiu Optoelectronics Jointstock 003015.SZ | China | $548M | -22% | +5% | 12% | 5.3× | 15.8% | +5.3% |
| Kopin KOPN | United States | $564M | -44% | -7% | -35% | 11.8× | n/a | n/a |
| Vikram Solar VIKRAMSOLR.NS | India | $546M | -37% | +40% | 12% | 1.0× | n/a | n/a |
| QD Laser 6613.T | Japan | $546M | +43% | +7% | -19% | 56.3× | n/a | n/a |
| Jiangsu Transimage Technology 002866.SZ | China | $567M | -49% | -5% | 3% | 1.9× | 12.9% | +4.2% |
| TFE 425420.KS | South Korea | $544M | -8% | +54% | 17% | 5.2× | 7.4% | +15.5% |
| Suzhou Convert Semiconductor 688693.SS | China | $543M | -48% | +49% | -34% | 10.0× | n/a | n/a |
| Taiwan Microloops 6831.TW | Taiwan | $569M | -46% | +117% | 12% | 4.6× | n/a | n/a |
| Brite Semiconductor (Shanghai) 688691.SS | China | $542M | -59% | +27% | -18% | 3.1× | n/a | n/a |
| Silex Systems SLX.AX | Australia | $574M | -49% | +89% | -33% | 47.3× | 43.3% | +48.1% |
| Advanced Wireless Semiconductor 8086.TWO | Taiwan | $537M | -41% | +36% | 23% | 3.6× | 6.3% | +3.0% |
| Hubei W-Olf Photoelectric Technology 002962.SZ | China | $534M | -25% | +3% | 1% | 2.2× | 24.2% | +15.0% |
| Centera Photonics 7917.TWO | Taiwan | $579M | n/a | n/a | n/a | n/a | n/a | n/a |
| Shenzhen China Micro Semicon 688380.SS | China | $532M | -39% | +40% | 21% | 1.6× | 6.0% | +24.3% |
| Shenzhen SOSEN Electronics 301002.SZ | China | $587M | -39% | +22% | 2% | 3.4× | n/a | n/a |
| Inner Mongolia OJing Science and Technology 001269.SZ | China | $523M | -16% | -2% | -51% | 7.8× | n/a | n/a |
| First Sensor SIS.DE | Germany | $591M | -6% | -18% | 7% | 5.7× | 13.5% | -7.4% |