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Fabless designer of MIPS-based microprocessors and AIoT SoCs for smart cameras, wearables and industrial edge devices.
Fabless designer of MIPS-based microprocessors and AIoT SoCs for smart cameras, wearables and industrial edge devices.
After buying the owner of US-based ISSI in 2020, a large part of revenue now comes from memory chips, DRAM and SRAM used in cars and industrial gear, rather than from its own processors. Its MIPS-derived processor cores are the original business.
In one line: A small, MIPS-based edge-AI chip designer, akin to a niche Ambarella.
Moat: narrow (IP / patents, process know-how). Owns its own MIPS-derived CPU core IP; competes in a crowded, price-competitive edge-AI SoC market.
Headquarters: Beijing, China · Founded: 2005 · Employees: 1,125
Size Ingenic Semiconductor (300223.SZ) is a China Information Technology company (Semiconductors) with a market value of $7.59B, the 324th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥105.20 on 6 Nov 2026.
Performance Over six months the shares fell 15.3%, against -20.4% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 89.0% over the last twelve months (peer median +19.5%); the operating margin is 34.7% (peer median 6.9%).
Valuation It trades at 16.7× forward earnings against a peer median of 24.3× (6th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 21% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is +4 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 8.6 points above its cost of capital (17.0% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.41B | CN¥4.73B | CN¥4.21B | CN¥4.53B | CN¥5.41B |
| Revenue growth | — | +12% | -7% | -16% | — |
| Gross profit | CN¥4.64B | CN¥1.53B | CN¥1.47B | CN¥1.59B | CN¥2.03B |
| EBITDA | n/a | CN¥418M | CN¥467M | CN¥635M | CN¥954M |
| Net income | CN¥2.74B | CN¥376M | CN¥366M | CN¥537M | CN¥789M |
| Free cash flow | CN¥1.77B | CN¥561M | CN¥281M | CN¥484M | -CN¥181M |
| Capital expenditure | CN¥278M | CN¥96.9M | CN¥113M | CN¥104M | CN¥139M |
| Total debt | CN¥13.5M | CN¥17.8M | CN¥23.7M | CN¥32.3M | CN¥14.9M |
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 |
|---|---|---|---|---|---|---|
| Ingenic Semiconductor 300223.SZ | $7.59B | -15% | +89% | 35% | 16.7× | 21.3% |
| Sunwoda Electronic 300207.SZ | $5.37B | -33% | +36% | -1% | 16.0× | n/a |
| Espressif Systems (Shanghai) 688018.SS | $5.61B | +30% | +23% | 19% | 48.8× | 36.0% |
| Ambarella AMBA | $2.58B | -23% | +20% | -15% | 66.0× | 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 | 300223.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.1% | -19.3% | 9th highest of 21 |
| 6-month return | -15.3% | -20.4% | 9th highest of 21 |
| Distance from 52-week high | -62.4% | -51.6% | 4th lowest of 21 |
| Revenue growth (TTM) | +89.0% | +19.5% | 2nd highest of 21 |
| Operating margin | 34.7% | 6.9% | 3rd highest of 21 |
| Forward P/E | 16.7× | 24.3× | 6th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 21.3% | 24.5% | 3rd least demanding of 8 |
| Growth delivered (Del g) | +16.9% | +23.5% | 4th lowest of 8 |
| Hurdle (Req g minus delivered) | +4.4 pp | +9.2 pp | 4th least demanding of 8 |
| ROIC minus cost of capital | +8.6 pp | -3.7 pp | 5th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ingenic Semiconductor 300223.SZ | China | $7.59B | -15% | +89% | 35% | 16.7× | 21.3% | +16.9% |
| Powerchip Semiconductor Manufacturing 6770.TW | Taiwan | $7.54B | -5% | +22% | -5% | 7.6× | 11.3% | +0.5% |
| Tianshui Huatian Technology 002185.SZ | China | $7.74B | +10% | +33% | 4% | 45.0× | n/a | n/a |
| WAAREE Energies WAAREEENER.NS | India | $7.41B | -24% | +75% | 16% | 17.3× | n/a | n/a |
| Silicon Laboratories SLAB | United States | $7.39B | +2% | +22% | -3% | 60.3× | n/a | n/a |
| Alchip Technologies Limitd 3661.TW | Taiwan | $7.35B | -32% | -51% | 23% | 14.4× | n/a | n/a |
| RMBS RMBS | United States | $7.98B | -42% | +17% | 37% | 19.9× | 24.5% | +23.5% |
| Konfoong Materials International 300666.SZ | China | $8.09B | +9% | +35% | 10% | 53.5× | n/a | n/a |
| Shenzhen Techwinsemi Technology 001309.SZ | China | $8.12B | -64% | +317% | 35% | 6.7× | n/a | n/a |
| Amkor Technology AMKR | United States | $8.13B | -57% | +16% | 10% | 12.1× | n/a | n/a |
| Smartsens Technology (Shanghai) 688213.SS | China | $7.01B | +21% | +27% | 13% | 30.9× | 23.1% | +42.7% |
| Minebea Mitsumi 6479.T | Japan | $6.97B | -13% | +12% | 7% | 11.9× | 10.8% | +11.0% |
| VeriSilicon Microelectronics (Shanghai) 688521.SS | China | $8.31B | -63% | +39% | -23% | n/a | 40.5% | +15.9% |
| SG Micro 300661.SZ | China | $8.33B | -12% | +46% | 17% | 55.7× | 35.9% | +26.7% |
| Sanan Optoelectronics 600703.SS | China | $6.87B | -33% | -22% | -7% | n/a | n/a | n/a |
| Vanguard International Semiconductor 5347.TWO | Taiwan | $6.82B | -22% | +10% | 17% | 17.7× | n/a | n/a |
| Rohm 6963.T | Japan | $6.76B | -19% | +12% | 4% | 24.3× | n/a | n/a |
| Jinko Solar 688223.SS | China | $6.73B | -34% | -18% | -11% | n/a | n/a | n/a |
| Suzhou Maxwell Technologies 300751.SZ | China | $6.72B | -33% | -26% | 6% | 72.0× | 47.7% | +29.0% |
| Nexchip Semiconductor 688249.SS | China | $8.80B | -17% | +14% | 7% | 66.4× | n/a | n/a |
| United Nova Technology 688469.SS | China | $8.92B | +4% | +42% | -10% | 102.1× | n/a | n/a |