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Chinese maker of silicon-carbide (SiC) epitaxial wafers used in power chips for EVs and industrial equipment.
Chinese maker of silicon-carbide (SiC) epitaxial wafers used in power chips for EVs and industrial equipment.
Sells epitaxial wafers, a thin silicon-carbide layer grown on a substrate on which the customer's chip is built, charging by wafer size, and also grows the layer on wafers supplied by customers. The business is a processing step between substrate makers and chip makers.
In one line: A small Chinese SiC-wafer supplier (epitaxy only, not devices).
Moat: narrow (process know-how, customer qualification). Wafer quality and defect-density know-how is hard to replicate quickly, but the field has many well-funded Chinese entrants.
Headquarters: Zhaoqing, Guangdong, China · Founded: 2009 · Employees: 960
Size Guangdong Tianyu Semiconductor (2658.HK) is a Hong Kong Information Technology company (Semiconductors) with a market value of $2.17B, the 401st largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$43.30 on 6 Nov 2026.
Performance Over six months the shares fell 2.8%, against -32.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 52.4% over the last twelve months (peer median +16.2%); the operating margin is -30.1% (peer median 6.1%).
Valuation It trades at 59.4× forward earnings against a peer median of 28.7× (5th most expensive of 16).
Capital Return on invested capital runs 9.6 points below its cost of capital (5.2% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$808M | HK$769M | HK$563M | HK$1.29B | HK$508M |
| Revenue growth | — | +37% | -56% | +155% | — |
| Gross profit | HK$35.9M | HK$144M | -HK$428M | HK$223M | HK$92.7M |
| EBITDA | -HK$40.4M | HK$102M | -HK$474M | HK$182M | HK$49.1M |
| Net income | -HK$235M | -HK$60.3M | -HK$534M | HK$112M | HK$8.04M |
| Free cash flow | -HK$1.11B | -HK$1.16B | -HK$1.04B | -HK$1.13B | -HK$908M |
| Capital expenditure | HK$824M | HK$653M | HK$915M | HK$1.21B | HK$600M |
| Total debt | n/a | HK$2.58B | HK$1.86B | HK$931M | HK$22.7M |
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 |
|---|---|---|---|---|---|---|
| Guangdong Tianyu Semiconductor 2658.HK | $2.17B | -3% | +52% | -30% | 59.4× | n/a |
| WOLF WOLF | $1.26B | -49% | -12% | -67% | n/a | n/a |
| SICC 688234.SS | $4.98B | -24% | +20% | -5% | 202.4× | n/a |
| STM STM | $41.0B | -29% | +16% | 7% | 17.3× | 38.6% |
| Resonac 4004.T | $12.6B | -26% | +1% | 8% | 18.0× | 26.7% |
| Coherent COHR | $38.0B | -42% | +23% | 14% | 16.6× | 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 | 2658.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.7% | -20.3% | 8th highest of 21 |
| 6-month return | -2.8% | -32.6% | 4th highest of 21 |
| Distance from 52-week high | -31.8% | -56.9% | 4th highest of 21 |
| Revenue growth (TTM) | +52.4% | +16.2% | 2nd highest of 21 |
| Operating margin | -30.1% | 6.1% | 2nd lowest of 21 |
| Forward P/E | 59.4× | 28.7× | 5th most expensive of 16 |
| ROIC minus cost of capital | -9.6 pp | -6.1 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangdong Tianyu Semiconductor 2658.HK | Hong Kong | $2.17B | -3% | +52% | -30% | 59.4× | n/a | n/a |
| nLIGHT LASR | United States | $2.19B | +72% | +43% | -5% | 61.8× | 39.2% | +3.2% |
| Union Semiconductor (Hefei) 688403.SS | China | $2.15B | -14% | +13% | 3% | 56.1× | n/a | n/a |
| Wuxi Taclink Optoelectronics Technology 688205.SS | China | $2.20B | -62% | +20% | 3% | 180.7× | n/a | n/a |
| Shanghai Belling Corp.,Ltd 600171.SS | China | $2.14B | -30% | +11% | 4% | n/a | 39.4% | +19.1% |
| Elmos Semiconductor ELG.DE | Germany | $2.13B | -36% | +9% | 20% | 16.2× | 12.9% | +20.2% |
| Xiamen UX IC 688807.SS | China | $2.22B | -48% | +26% | 13% | 144.5× | n/a | n/a |
| Ennostar 3714.TW | Taiwan | $2.23B | -23% | -5% | -13% | n/a | n/a | n/a |
| Micronics Japan 6871.T | Japan | $2.11B | -33% | +38% | 28% | 14.1× | n/a | n/a |
| Beijing BDStar Navigation 002151.SZ | China | $2.10B | -36% | +35% | -14% | n/a | n/a | n/a |
| China Wafer Level CSP 603005.SS | China | $2.10B | -31% | +7% | 23% | 28.7× | 28.3% | +6.2% |
| POWI POWI | United States | $2.25B | -45% | +2% | 8% | 22.9× | 35.9% | -1.9% |
| GCL System Integration Technology 002506.SZ | China | $2.26B | -39% | -32% | -10% | n/a | 31.8% | +20.8% |
| Ferrotec 6890.T | Japan | $2.08B | -19% | +43% | 12% | 8.3× | n/a | n/a |
| Xiamen Changelight 300102.SZ | China | $2.26B | -50% | -38% | -2% | 71.3× | 34.6% | +21.1% |
| Giantec Semiconductor 688123.SS | China | $2.27B | -23% | +13% | 22% | 23.3× | 39.2% | +19.8% |
| Hermes Testing Solutions 7856.TWO | Taiwan | $2.29B | -32% | +52% | 12% | 46.2× | 52.1% | +51.8% |
| Chunghwa Precision Test Tech 6510.TWO | Taiwan | $2.30B | -37% | +24% | 32% | 28.3× | 24.4% | +2.7% |
| NVTS NVTS | United States | $2.32B | -53% | -29% | -273% | n/a | n/a | n/a |
| Shanghai Fullhan Microelectronics 300613.SZ | China | $2.35B | +14% | +91% | 26% | 43.1× | n/a | n/a |
| MLS 002745.SZ | China | $2.36B | +11% | +19% | -4% | 24.0× | 2.4% | +0.1% |