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Chinese maker of passive electronic components -- inductors, RF/LTCC filters and EMI shielding -- for smartphones and electronics.
Chinese maker of passive electronic components -- inductors, RF/LTCC filters and EMI shielding -- for smartphones and electronics.
In one line: A small China-based Murata/TDK in passive RF components.
Moat: none (process know-how). Commodity passive-component maker in a crowded, price-competitive market.
Headquarters: Shenzhen, China · Employees: 4,057
Size Shenzhen Microgate Technology (300319.SZ) is a China Information Technology company (Electronic Production Equipment) with a market value of $1.86B, the 1348th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥14.01 on 6 Nov 2026.
Performance Over six months the shares gained 12.4%, against -27.4% for the median peer and -16.4% for the China market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 11.4% over the last twelve months (peer median +9.0%); the operating margin is 8.2% (peer median 6.5%).
Valuation It trades at 30.5× forward earnings against a peer median of 27.1× (9th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 23% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +12 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 3.1 points below its cost of capital (11.4% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.09B | CN¥3.78B | CN¥3.14B | CN¥3.01B | CN¥3.15B |
| Revenue growth | — | +21% | +4% | -4% | — |
| Gross profit | CN¥977M | CN¥585M | CN¥607M | CN¥551M | CN¥545M |
| EBITDA | n/a | CN¥552M | CN¥554M | CN¥475M | CN¥374M |
| Net income | CN¥361M | CN¥316M | CN¥333M | CN¥270M | CN¥200M |
| Free cash flow | CN¥135M | CN¥114M | CN¥80.1M | CN¥303M | CN¥440M |
| Capital expenditure | CN¥477M | CN¥514M | CN¥369M | CN¥151M | CN¥257M |
| Total debt | CN¥948M | CN¥1.04B | CN¥952M | CN¥622M | CN¥556M |
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 |
|---|---|---|---|---|---|---|
| Shenzhen Microgate Technology 300319.SZ | $1.86B | +12% | +11% | 8% | 30.5× | 22.5% |
| Murata Manufacturing 6981.T | $57.1B | -5% | +15% | 20% | 23.0× | 29.8% |
| Tdk 6762.T | $25.4B | -27% | +25% | 10% | 15.0× | 18.2% |
| Shenzhen Sunlord Electronics 002138.SZ | $4.55B | +11% | +20% | 16% | 24.4× | 14.5% |
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 | 300319.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.2% | -16.9% | 8th lowest of 21 |
| 6-month return | +12.4% | -27.4% | highest of 21 |
| Distance from 52-week high | -58.0% | -50.8% | 6th lowest of 21 |
| Revenue growth (TTM) | +11.4% | +9.0% | 10th highest of 21 |
| Operating margin | 8.2% | 6.5% | 9th highest of 21 |
| Forward P/E | 30.5× | 27.1× | 9th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 22.5% | 8.5% | 4th most demanding of 12 |
| Growth delivered (Del g) | +10.3% | +7.9% | 5th highest of 12 |
| Hurdle (Req g minus delivered) | +12.3 pp | -1.9 pp | 3rd most demanding of 12 |
| ROIC minus cost of capital | -3.1 pp | -1.6 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Microgate Technology 300319.SZ | China | $1.86B | +12% | +11% | 8% | 30.5× | 22.5% | +10.3% |
| DBG Technology 300735.SZ | China | $1.81B | -28% | +17% | 2% | 26.0× | 3.5% | +31.6% |
| Visual Photonics Epitaxy 2455.TW | Taiwan | $1.80B | -17% | +34% | 26% | 34.1× | 38.7% | +5.0% |
| Aehr Test Systems AEHR | United States | $1.75B | -45% | -15% | -28% | n/a | n/a | n/a |
| Kitron KIT.OL | Norway | $2.02B | -20% | +54% | 10% | 22.0× | -0.6% | +16.9% |
| Sichuan Injet Electric 300820.SZ | China | $1.71B | +4% | -12% | 13% | 35.8× | 29.9% | +29.0% |
| Plug Power PLUG | United States | $2.03B | -54% | +11% | -68% | n/a | n/a | n/a |
| Shenzhen Bluetrum Technology 688332.SS | China | $1.71B | -17% | +6% | 7% | 37.6× | n/a | n/a |
| Shenzhen SED Industry 000032.SZ | China | $2.03B | -36% | +5% | 1% | 42.9× | 7.0% | +8.9% |
| Beijing Relpow Technology 300593.SZ | China | $1.68B | -27% | +16% | -14% | 286.9× | n/a | n/a |
| CTS CTS | United States | $1.65B | -6% | +7% | 16% | 20.3× | 8.5% | +5.0% |
| Photronics PLAB | United States | $1.61B | -49% | +1% | 22% | 13.3× | 1.9% | +6.9% |
| Xiamen Intretech 002925.SZ | China | $2.16B | -3% | +39% | 9% | 32.1× | n/a | n/a |
| Benchmark Electronics BHE | United States | $2.16B | -29% | +13% | 4% | 17.7× | 13.8% | +5.3% |
| Shenzhen Sinexcel Electric 300693.SZ | China | $1.57B | -28% | +27% | 15% | 17.2× | 13.1% | +35.0% |
| XiaMen HongXin Electron-tech 300657.SZ | China | $2.21B | -18% | +4% | 8% | 28.2× | n/a | n/a |
| Foxconn Technology 2354.TW | Taiwan | $2.23B | -11% | +13% | 2% | 13.3× | n/a | n/a |
| Shenzhen H&T Intelligent Control 002402.SZ | China | $2.23B | -49% | +2% | 6% | 41.3× | n/a | n/a |
| Alps Alpine 6770.T | Japan | $2.23B | -24% | +5% | 3% | 10.8× | -3.8% | +7.3% |
| Universal Microwave Technology 3491.TWO | Taiwan | $2.26B | -36% | +36% | 27% | 42.9× | n/a | n/a |
| VECO VECO | United States | $2.27B | -37% | -3% | 4% | 13.3× | 37.1% | +7.9% |