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Maker of cover glass, structural components and modules for smartphones and other consumer-electronics devices, led by Apple.
Maker of cover glass, structural components and modules for smartphones and other consumer-electronics devices, led by Apple.
Wins a place on each phone model and then ships glass, metal frames and assembled modules in volume, so orders follow the launch calendars of a few handset makers, Apple most of all. Founder Zhou Qunfei, who started with phone glass screens, still controls the company, which is stretching its capacity into car and wearable parts.
In one line: China's Corning-meets-Foxconn for device cover glass and assembly.
Moat: narrow (scale, customer qualification, process know-how). Deeply qualified into Apple's supply chain with large-scale precision glass-processing capacity.
Headquarters: Changsha, Hunan, China · Founded: 2003 · Employees: 145,683
Size Lens Technology (300433.SZ) is a China Consumer Discretionary company (Home Furnishings) with a market value of $20.1B, the 110th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥27.01 on 6 Nov 2026.
Performance Over six months the shares gained 5.1%, against -2.5% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 5 in its peer set.
Growth Revenue fell 11.2% over the last twelve months (peer median +24.6%); the operating margin is 4.9% (peer median 19.6%).
Valuation It trades at 42.6× forward earnings against a peer median of 17.3× (most expensive of 5).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is +2 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 0.7 points below its cost of capital (10.5% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥68.6B | CN¥74.3B | CN¥69.7B | CN¥54.3B | CN¥46.6B |
| Revenue growth | — | +7% | +28% | +17% | — |
| Gross profit | CN¥14.7B | CN¥10.7B | CN¥9.84B | CN¥7.85B | CN¥7.81B |
| EBITDA | n/a | CN¥9.83B | CN¥8.70B | CN¥7.62B | CN¥7.46B |
| Net income | CN¥2.59B | CN¥4.02B | CN¥3.62B | CN¥3.02B | CN¥2.45B |
| Free cash flow | CN¥3.05B | CN¥5.39B | CN¥6.24B | CN¥4.83B | CN¥10.4B |
| Capital expenditure | CN¥10.6B | CN¥9.44B | CN¥6.33B | CN¥5.44B | CN¥6.85B |
| Total debt | CN¥15.0B | CN¥10.5B | CN¥14.6B | CN¥16.4B | CN¥20.0B |
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 |
|---|---|---|---|---|---|---|
| Lens Technology 300433.SZ | $20.1B | +5% | -11% | 5% | 42.6× | 16.9% |
| Corning GLW | $91.4B | -43% | +19% | 17% | 25.4× | 24.7% |
| Sunny Optical 2382.HK | $8.92B | -3% | +20% | 8% | 14.8× | 4.9% |
| BYD Electronic 0285.HK | $6.15B | -24% | +4% | 1% | 19.5× | -0.8% |
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 | 300433.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.1% | -11.8% | 3rd highest of 5 |
| 6-month return | +5.1% | -2.5% | 2nd highest of 5 |
| Distance from 52-week high | -53.8% | -34.7% | 2nd lowest of 5 |
| Revenue growth (TTM) | -11.2% | +24.6% | lowest of 5 |
| Operating margin | 4.9% | 19.6% | lowest of 5 |
| Forward P/E | 42.6× | 17.3× | most expensive of 5 |
| Growth the price implies (Req g, 7 yrs) | 16.9% | n/a | — |
| Growth delivered (Del g) | +15.0% | n/a | — |
| Hurdle (Req g minus delivered) | +1.9 pp | n/a | — |
| ROIC minus cost of capital | -0.7 pp | +4.3 pp | 3rd highest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lens Technology 300433.SZ | China | $20.1B | +5% | -11% | 5% | 42.6× | 16.9% | +15.0% |
| Fuyao Glass Industry 600660.SS | China | $21.0B | -5% | +5% | 22% | 16.2× | -3.2% | +18.2% |
| Guangdong Songfa Ceramics 603268.SS | China | $22.8B | 0% | +302% | 21% | 16.1× | n/a | n/a |
| Somnigroup International SGI | United States | $14.8B | -7% | +27% | 14% | 18.3× | 15.0% | +15.3% |
| Chongqing Polycomp International 301526.SZ | China | $11.0B | +21% | +22% | 18% | 36.8× | n/a | n/a |