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Chinese maker of compound-semiconductor epitaxial wafers (GaAs/GaN) used in RF chips, LEDs and power devices.
Chinese maker of compound-semiconductor epitaxial wafers (GaAs/GaN) used in RF chips, LEDs and power devices.
In one line: A Chinese IQE plc-style compound-semiconductor epi-wafer supplier.
Moat: narrow (process know-how, scale). Epitaxial crystal-growth process know-how built over years is difficult to replicate quickly.
Headquarters: Nanchang / Suzhou, China · Founded: 2010 · Employees: 529
Size Epiworld International (2726.HK) is a Hong Kong Information Technology company (Semiconductors) with a market value of $1.17B, the 561st largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$77.30 on 6 Nov 2026.
Performance Over six months the shares fell 33.6%, against -27.5% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue fell 21.4% over the last twelve months (peer median +13.1%); the operating margin is -11.3% (peer median 3.2%).
Valuation It trades at 8.0× enterprise value to sales against a peer median of 4.3× (8th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 43% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is +25 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 8.1 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 | n/a | HK$830M | HK$1.06B | HK$1.26B | HK$512M |
| Revenue growth | — | -21% | -16% | +146% | — |
| Gross profit | n/a | HK$206M | HK$339M | HK$472M | HK$220M |
| EBITDA | n/a | HK$99.8M | HK$235M | HK$253M | HK$156M |
| Net income | n/a | HK$12.9M | HK$180M | HK$135M | HK$167M |
| Free cash flow | n/a | HK$31.4M | HK$483M | -HK$827M | -HK$424M |
| Capital expenditure | n/a | HK$158M | HK$224M | HK$1.28B | HK$621M |
| Total debt | n/a | HK$988M | HK$1.21B | HK$1.24B | HK$360M |
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 |
|---|---|---|---|---|---|---|
| Epiworld International 2726.HK | $1.17B | -34% | -21% | -11% | 8.0× | 42.8% |
| IQE IQE.L | $514M | -39% | +20% | -11% | 3.4× | n/a |
| Sanan Optoelectronics 600703.SS | $6.87B | -33% | -22% | -7% | 3.6× | n/a |
| Visual Photonics Epitaxy 2455.TW | $1.80B | -17% | +34% | 26% | 13.9× | 38.7% |
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 | 2726.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.9% | -24.7% | 7th highest of 21 |
| 6-month return | -33.6% | -27.5% | 8th lowest of 20 |
| Distance from 52-week high | -45.2% | -56.4% | 6th highest of 21 |
| Revenue growth (TTM) | -21.4% | +13.1% | lowest of 21 |
| Operating margin | -11.3% | 3.2% | 6th lowest of 21 |
| EV / Sales | 8.0× | 4.3× | 8th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 42.8% | 24.5% | 3rd most demanding of 8 |
| Growth delivered (Del g) | +17.4% | +17.1% | 4th highest of 8 |
| Hurdle (Req g minus delivered) | +25.3 pp | +4.0 pp | 2nd most demanding of 8 |
| ROIC minus cost of capital | -8.1 pp | -6.3 pp | 11th highest of 21 |
| EV / EBITDA | 66.8× | 12.4× | most expensive of 7 |
| Net debt / EBITDA | -25.4× | 0.4× | least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Epiworld International 2726.HK | Hong Kong | $1.17B | -34% | -21% | -11% | 8.0× | 42.8% | +17.4% |
| Hana Micron 067310.KS | South Korea | $1.18B | -39% | +54% | 14% | 1.4× | 0.4% | +23.3% |
| Axera Semiconductor 0600.HK | Hong Kong | $1.15B | -34% | +19% | -135% | 14.3× | n/a | n/a |
| BASiC Semiconductor 9971.HK | Hong Kong | $1.15B | n/a | +4% | -104% | 27.7× | n/a | n/a |
| Lontium Semiconductor 688486.SS | China | $1.14B | -28% | +19% | 23% | 10.6× | n/a | n/a |
| Fujiyama Power Systems UTLSOLAR.NS | India | $1.14B | +23% | +72% | 17% | 3.2× | n/a | n/a |
| Jilin Sino-Microelectronics 600360.SS | China | $1.21B | -15% | +11% | 3% | 3.5× | n/a | n/a |
| Nuvoton Technology 4919.TW | Taiwan | $1.22B | -46% | 0% | -5% | 1.2× | n/a | n/a |
| Sino Wealth Electronic 300327.SZ | China | $1.13B | -18% | +7% | 1% | 5.0× | 58.7% | +4.9% |
| CCore Technology 688262.SS | China | $1.13B | -43% | +104% | -51% | 9.3× | n/a | n/a |
| FADU 440110.KS | South Korea | $1.23B | -58% | +137% | -9% | 9.1× | 43.1% | +156.1% |
| Wafer Works (Shanghai) 688584.SS | China | $1.11B | -6% | -1% | 7% | 6.1× | n/a | n/a |
| Supreme Electronics 8112.TW | Taiwan | $1.24B | -13% | +80% | 3% | 0.4× | n/a | n/a |
| Jeju Semiconductor 080220.KS | South Korea | $1.24B | -4% | +284% | 32% | 2.5× | n/a | n/a |
| Guangdong Fuxin Technology 688662.SS | China | $1.10B | +19% | +15% | 13% | 11.8× | n/a | n/a |
| Pan Jit International 2481.TW | Taiwan | $1.25B | +6% | +9% | 9% | 3.4× | 24.5% | +4.5% |
| UMS Integration 558.SI | Singapore | $1.25B | -27% | +10% | 21% | 5.6× | 12.8% | +8.8% |
| Suzhou Good-Ark Electronics 002079.SZ | China | $1.10B | -31% | +12% | 2% | 1.3× | 32.5% | +17.1% |
| Zhuhai Aerospace Microchips Science & Technology 300053.SZ | China | $1.10B | -40% | +10% | -114% | 32.1× | n/a | n/a |
| Furuya Metal 7826.T | Japan | $1.26B | +7% | +75% | 25% | 2.0× | 13.3% | +24.2% |
| WOLF WOLF | United States | $1.26B | -49% | -12% | -67% | 3.0× | n/a | n/a |