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Chinese maker of IP phones, video-conferencing devices and headsets for business unified-communications systems.
Chinese maker of IP phones, video-conferencing devices and headsets for business unified-communications systems.
Sells hardware mainly through channel distributors and resellers and to service providers, with more than half of sales outside China. Its growth comes from video-conferencing rooms and devices certified for Microsoft Teams and Zoom, where it competes on cost against Western rivals.
In one line: China's Poly (Plantronics/Polycom).
Moat: narrow (brand, distribution, scale). Leading volume share in IP phones/video bars via cost-competitive hardware and broad channel distribution.
Headquarters: Xiamen, China · Founded: 2001 · Employees: 2,394
Size Yealink Network Technology (300628.SZ) is a China Information Technology company (Telecommunications Equipment) with a market value of $7.50B, the 329th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥39.59 on 6 Nov 2026.
Performance Over six months the shares gained 8.4%, against -35.0% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 20 in its peer set.
Growth Revenue grew 17.3% over the last twelve months (peer median +10.5%); the operating margin is 45.7% (peer median 2.8%).
Valuation It trades at 16.2× forward earnings against a peer median of 21.5× (8th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 48.0 points above its cost of capital (7.4% WACC).
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.79B | CN¥5.98B | CN¥5.55B | CN¥4.31B | CN¥4.77B |
| Revenue growth | — | +8% | +29% | -10% | — |
| Gross profit | CN¥4.38B | CN¥3.71B | CN¥3.56B | CN¥2.77B | CN¥2.94B |
| EBITDA | n/a | CN¥2.72B | CN¥2.67B | CN¥1.97B | CN¥2.18B |
| Net income | CN¥2.92B | CN¥2.60B | CN¥2.65B | CN¥2.01B | CN¥2.18B |
| Free cash flow | CN¥1.93B | CN¥1.94B | CN¥2.52B | CN¥1.77B | CN¥1.61B |
| Capital expenditure | CN¥63.2M | CN¥53.0M | CN¥140M | CN¥188M | CN¥658M |
| Total debt | CN¥9.19M | CN¥8.81M | CN¥10.9M | CN¥6.15M | CN¥53.3M |
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 |
|---|---|---|---|---|---|---|
| Yealink Network Technology 300628.SZ | $7.50B | +8% | +17% | 46% | 16.2× | 4.3% |
| Cisco CSCO | $369B | -3% | +12% | 25% | 18.4× | 15.0% |
| Logitech International LOGN.SW | $13.2B | -1% | -1% | 18% | 16.8× | -5.7% |
| GN Store Nord A/S GN.CO | $2.70B | +30% | -26% | 3% | n/a | 18.5% |
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 | 300628.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.1% | -7.6% | 3rd highest of 20 |
| 6-month return | +8.4% | -35.0% | 2nd highest of 20 |
| Distance from 52-week high | -8.1% | -48.8% | 3rd highest of 21 |
| Revenue growth (TTM) | +17.3% | +10.5% | 9th highest of 21 |
| Operating margin | 45.7% | 2.8% | highest of 21 |
| Forward P/E | 16.2× | 21.5× | 8th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 4.3% | 17.5% | 3rd least demanding of 12 |
| Growth delivered (Del g) | +17.0% | +6.9% | 4th highest of 12 |
| Hurdle (Req g minus delivered) | -12.7 pp | +9.4 pp | 3rd least demanding of 12 |
| ROIC minus cost of capital | +48.0 pp | -2.8 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Yealink Network Technology 300628.SZ | China | $7.50B | +8% | +17% | 46% | 16.2× | 4.3% | +17.0% |
| Zhejiang Dahua Technology 002236.SZ | China | $7.04B | -21% | +7% | 7% | 12.3× | n/a | n/a |
| ViaSat VSAT | United States | $8.81B | -9% | +1% | 2% | n/a | 42.8% | +15.5% |
| Shenzhen Sunway Communication 300136.SZ | China | $6.14B | -54% | +2% | 9% | 47.1× | 30.6% | +6.9% |
| China Spacesat 600118.SS | China | $9.75B | -46% | +6% | 1% | 531.4× | n/a | n/a |
| Fiberhome Telecommunication Technologies 600498.SS | China | $5.50B | -42% | +16% | 1% | 21.5× | 12.8% | +3.4% |
| Shenzhen Transsion 2636.HK | Hong Kong | $11.3B | n/a | +4% | 5% | 10.6× | n/a | n/a |
| Jiang Su Etern 600105.SS | China | $4.82B | -48% | +49% | 12% | 24.4× | n/a | n/a |
| QuantumCTek 688027.SS | China | $4.60B | -48% | -19% | -33% | 4,259.0× | n/a | n/a |
| Ohb OHB.DE | Germany | $4.45B | -61% | +18% | 5% | 60.7× | n/a | n/a |
| Huaqin 3296.HK | Hong Kong | $12.7B | -30% | +35% | 2% | 12.3× | n/a | n/a |
| TCL Technology 000100.SZ | China | $15.0B | +7% | +5% | 0% | 13.1× | -4.7% | +19.1% |
| Huber + Suhner HUBN.SW | Switzerland | $3.49B | -44% | -4% | 9% | 30.9× | 11.1% | +3.2% |
| Digital China 000034.SZ | China | $3.16B | -22% | +28% | 1% | 26.6× | n/a | n/a |
| Ondas ONDS | United States | $3.11B | -41% | +979% | -127% | n/a | n/a | n/a |
| ZTE 000063.SZ | China | $19.0B | -23% | +14% | 1% | 24.2× | 19.0% | +5.6% |
| ZTE 0763.HK | Hong Kong | $19.0B | -27% | +20% | 1% | 14.6× | 17.5% | +4.9% |
| GN Store Nord A/S GN.CO | Denmark | $2.70B | +30% | -26% | 3% | n/a | 18.5% | +4.7% |
| Accton Technology 2345.TW | Taiwan | $21.6B | -49% | +82% | 14% | 12.5× | 4.5% | +35.4% |
| Shanghai HuaCe Navigation Technology 300627.SZ | China | $2.44B | -35% | 0% | 13% | 21.0× | 18.6% | +21.3% |
| WNC 6285.TW | Taiwan | $2.41B | -29% | +30% | 5% | 10.8× | -0.5% | +12.0% |