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One of the world's largest makers of gallium-nitride (GaN) power semiconductors for chargers, data centers and automotive.
One of the world's largest makers of gallium-nitride (GaN) power semiconductors for chargers, data centers and automotive.
Designs and builds GaN chips in its own factories rather than outsourcing, which suits high-volume consumer chargers but means factory loading affects results. It sells on purchase orders to charger and power-supply makers, while data-centre and automotive sales need longer customer qualification. Some capacity is also sold as contract manufacturing for other chip designers.
In one line: A Chinese GaN power-chip maker, akin to a smaller Navitas Semiconductor.
Moat: narrow (scale, process know-how, IP / patents). Owns large 8-inch GaN-on-silicon fabs, giving cost/scale edge over fabless GaN rivals.
Headquarters: Suzhou, China · Founded: 2017 · Employees: 1,359
Size InnoScience (Suzhou) Technology (2577.HK) is a Hong Kong Information Technology company (Semiconductors) with a market value of $3.03B, the 336th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$25.92 on 6 Nov 2026.
Performance Over six months the shares fell 62.9%, against -20.0% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 55.7% over the last twelve months (peer median +22.5%); the operating margin is -49.4% (peer median 8.6%).
Valuation It trades at 14.4× enterprise value to sales against a peer median of 5.2× (3rd most expensive of 21).
Capital Return on invested capital runs 21.2 points below its cost of capital (6.9% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$1.67B | HK$1.32B | HK$898M | HK$655M | HK$158M |
| Revenue growth | — | +46% | +37% | +314% | — |
| Gross profit | HK$166M | HK$96.3M | -HK$175M | -HK$542M | -HK$602M |
| EBITDA | -HK$280M | -HK$378M | -HK$561M | -HK$568M | -HK$900M |
| Net income | -HK$803M | -HK$912M | -HK$1.13B | -HK$1.22B | -HK$2.56B |
| Free cash flow | -HK$973M | -HK$1.18B | -HK$645M | -HK$1.16B | -HK$1.78B |
| Capital expenditure | HK$630M | HK$228M | HK$186M | HK$366M | HK$540M |
| Total debt | n/a | HK$2.56B | HK$2.12B | HK$2.30B | HK$2.37B |
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 |
|---|---|---|---|---|---|---|
| InnoScience (Suzhou) Technology 2577.HK | $3.03B | -63% | +56% | -49% | 14.4× | n/a |
| NVTS NVTS | $2.32B | -53% | -29% | -273% | 44.4× | n/a |
| Infineon Technologies IFX.DE | $66.8B | -33% | +6% | 13% | 4.2× | 30.2% |
| POWI POWI | $2.25B | -45% | +2% | 8% | 4.4× | 35.9% |
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 | 2577.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -31.8% | -25.1% | 8th lowest of 21 |
| 6-month return | -62.9% | -20.0% | lowest of 20 |
| Distance from 52-week high | -71.1% | -53.9% | 2nd lowest of 21 |
| Revenue growth (TTM) | +55.7% | +22.5% | 4th highest of 21 |
| Operating margin | -49.4% | 8.6% | lowest of 20 |
| EV / Sales | 14.4× | 5.2× | 3rd most expensive of 21 |
| ROIC minus cost of capital | -21.2 pp | -2.1 pp | lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| InnoScience (Suzhou) Technology 2577.HK | Hong Kong | $3.03B | -63% | +56% | -49% | 14.4× | n/a | n/a |
| Shanghai Awinic Technology 688798.SS | China | $3.04B | -9% | +2% | 1% | 6.7× | n/a | n/a |
| AP Memory Technology 6531.TW | Taiwan | $2.99B | -35% | +63% | 29% | 11.1× | 34.1% | +9.8% |
| Xintec 3374.TWO | Taiwan | $3.08B | +88% | +17% | 23% | 12.1× | n/a | n/a |
| Rorze 6323.T | Japan | $3.11B | -24% | +10% | 27% | 3.1× | 14.3% | +20.4% |
| Shenzhen S.C New Energy Technology 300724.SZ | China | $3.12B | -36% | -67% | 8% | 1.8× | 7.6% | +30.8% |
| Airoha Technology 6526.TW | Taiwan | $3.16B | +5% | +10% | 6% | 4.5× | 23.8% | +16.5% |
| Chipbond Technology 6147.TWO | Taiwan | $3.20B | -20% | +18% | 17% | 4.2× | n/a | n/a |
| Sino-American Silicon Products 5483.TWO | Taiwan | $2.80B | 0% | -1% | 12% | 2.5× | n/a | n/a |
| Shenyang Fortune Precision Equipment 688409.SS | China | $3.28B | -2% | +34% | 4% | 5.4× | n/a | n/a |
| IPG Photonics IPGP | United States | $2.78B | -38% | +15% | 5% | 1.7× | 24.8% | -3.5% |
| Jiangsu JieJie Microelectronics 300623.SZ | China | $3.31B | -9% | +34% | 17% | 5.0× | 17.9% | +28.2% |
| Shanghai Bright Power Semiconductor 688368.SS | China | $2.72B | -20% | +90% | 6% | 6.0× | 54.1% | +7.3% |
| Maxio Technology (Hangzhou) 688449.SS | China | $2.71B | -29% | +40% | 5% | 9.9× | n/a | n/a |
| Jiangsu X-chip Semiconductor Tech 301707.SZ | China | $3.40B | n/a | +55% | 41% | 33.4× | n/a | n/a |
| Simmtech 222800.KS | South Korea | $2.69B | +7% | +42% | 9% | 1.9× | n/a | n/a |
| Topco Scientific 5434.TW | Taiwan | $2.68B | +11% | +21% | 7% | 1.1× | 3.8% | +13.3% |
| Suzhou Everbright Photonics 688048.SS | China | $3.48B | -63% | +88% | -1% | 29.4× | n/a | n/a |
| JA Solar Technology 002459.SZ | China | $3.50B | -35% | -23% | n/a | 1.5× | -20.3% | +13.7% |
| Leeno Industrial 058470.KS | South Korea | $2.60B | -61% | +24% | 49% | 7.3× | 6.3% | +13.1% |
| Asmedia Technology 5269.TW | Taiwan | $2.60B | -14% | +38% | 25% | 5.7× | 12.3% | +14.0% |