Which companies are Shenzhen Fluence Technology's closest peers?

The cockpit's peer set: Taiwan Semiconductor (5425.TWO), Backblaze (BLZE), Sato (6287.T), Huasu (000509.SZ), Surfilter Network Technology (300311.SZ), Stratasys (SSYS), Newcapec Electronics (300248.SZ), Quantum (QMCO).

Is Shenzhen Fluence Technology expensive compared with its peers?

On ev / sales it trades at 5.2× against a peer median of 1.2×, 3rd most expensive of 21 in its peer set.

How has Shenzhen Fluence Technology stock performed?

Over six months to 6 Nov 2026 the shares returned +6.7% against -10.2% for the median peer; over one year +10.9%.

← CockpitCompetitor Analysis › 300647.SZ Shenzhen Fluence Technology Plc Class AOpen in the cockpit ↗

Shenzhen Fluence Technology Plc Class A300647.SZCompetitor analysis, valuation and peers

China · CNY·Information Technology›Computer Peripherals

Chinese maker of PC cooling/thermal components and LED lighting that has diversified into lithium-battery cathode materials.

≈ A small thermal/lighting components maker moving into battery materialsMomentum leader 95

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$517M

US dollars, full cap

Free float

96%

of shares outstanding

$/day

$39.1M

20-day average traded

Fwd P/E

n/m

no positive forecast

ROIC−WACC

-15.9 pp

WACC 7.3%

Hurdle

n/a

no reverse DCF

Close · CNYCN¥7.54

1D-1.8%

1W+22.2%

1M-21.5%

3M+44.2%

6M+6.7%

YTD+9.4%

1Y+10.9%

ATR %8.5%

52w lowhigh26.6% off high

What Shenzhen Fluence Technology does

Chinese maker of PC cooling/thermal components and LED lighting that has diversified into lithium-battery cathode materials.

In one line: A small thermal/lighting components maker moving into battery materials.

Products and services

PC/electronics cooling (heat sinks, fans, radiators)
LED lighting fixtures
Lithium battery cathode materials
Computer cases/accessories

Customers

PC/electronics OEMs
Stadium, street and industrial lighting projects
Battery material buyers (emerging segment)

Where it sits in the supply chain

Electronic components
Thermal management & lighting
Cooling hardware / LED fixtures…

What could go right

Battery-materials expansion
Data-center/AI cooling demand

What could go wrong

New, unproven battery-materials business
Competitive, low-margin lighting/cooling markets

Moat: none. Commodity components and contract lighting projects; battery-materials push is unproven and unscaled.

Headquarters: Shenzhen, China · Employees: 1,091

Shenzhen Fluence Technology at a glance

Size Shenzhen Fluence Technology (300647.SZ) is a China Information Technology company (Computer Peripherals) with a market value of $517M, the 3790th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.54 on 6 Nov 2026.

Performance Over six months the shares gained 6.7%, against -10.2% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 21 in its peer set.

Growth Revenue grew 12.0% over the last twelve months (peer median +5.1%); the operating margin is -20.0% (peer median 6.2%).

Valuation It trades at 5.2× enterprise value to sales against a peer median of 1.2× (3rd most expensive of 21).

Capital Return on invested capital runs 15.9 points below its cost of capital (7.3% WACC).

Relative performance

Six months, rebased to 100: Shenzhen Fluence Technology against the median of its 20 peers (local-currency closes).

Shenzhen Fluence Technology financials

Reported figures in CNY; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	CN¥864M	CN¥705M	CN¥698M	CN¥860M	CN¥1.14B
Revenue growth	—	+1%	-19%	-25%	—
Gross profit	CN¥44.2M	CN¥15.7M	CN¥81.5M	CN¥97.8M	CN¥166M
EBITDA	-CN¥89.8M	-CN¥110M	-CN¥173M	-CN¥210M	CN¥89.9M
Net income	-CN¥140M	-CN¥146M	-CN¥418M	-CN¥241M	CN¥19.4M
Free cash flow	-CN¥120M	-CN¥6.93M	-CN¥115M	-CN¥351M	-CN¥254M
Capital expenditure	CN¥95.2M	CN¥107M	CN¥113M	CN¥324M	CN¥112M
Total debt	CN¥1.24B	CN¥1.07B	CN¥1.08B	CN¥992M	CN¥772M

Quarterly statements and history in the cockpit →

Shenzhen Fluence Technology competitor charts

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.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Shenzhen Fluence Technology is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Shenzhen Fluence Technology is the large dot.

Shenzhen Fluence Technology competitors and peer comparison

How Shenzhen Fluence Technology compares with its peers

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.

Shenzhen Fluence Technology against its 20 peers (data as of 6 Nov 2026)
Measure	300647.SZ	Peer median	Rank in peer set
1-month return	-21.5%	-17.1%	6th lowest of 21
6-month return	+6.7%	-10.2%	6th highest of 21
Distance from 52-week high	-26.6%	-37.3%	4th highest of 21
Revenue growth (TTM)	+12.0%	+5.1%	6th highest of 21
Operating margin	-20.0%	6.2%	lowest of 21
EV / Sales	5.2×	1.2×	3rd most expensive of 21
ROIC minus cost of capital	-15.9 pp	-1.0 pp	3rd lowest of 20

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	EV / Sales	Req g	Delivered g
Shenzhen Fluence Technology 300647.SZ	China	$517M	+7%	+12%	-20%	5.2×	n/a	n/a
Taiwan Semiconductor 5425.TWO	Taiwan	$520M	+7%	+5%	9%	1.2×	7.6%	+11.6%
Backblaze BLZE	United States	$523M	+10%	+17%	-4%	3.5×	12.7%	+22.1%
Sato 6287.T	Japan	$508M	+19%	+10%	7%	0.5×	-11.3%	+8.4%
Huasu 000509.SZ	China	$502M	-13%	-23%	-2%	5.0×	n/a	n/a
Surfilter Network Technology 300311.SZ	China	$488M	-11%	+15%	7%	6.2×	n/a	n/a
Stratasys SSYS	United States	$565M	-25%	-3%	-14%	0.7×	n/a	n/a
Newcapec Electronics 300248.SZ	China	$567M	-17%	+1%	1%	3.7×	21.5%	+0.9%
Quantum QMCO	United States	$570M	+100%	+11%	0%	1.8×	n/a	n/a
Wacom 6727.T	Japan	$570M	-6%	-3%	13%	0.7×	-6.0%	+0.3%
Buffalo 6676.T	Japan	$458M	+23%	-19%	8%	0.4×	-10.5%	-2.0%
Hanwang Technology 002362.SZ	China	$596M	-12%	-2%	-13%	2.2×	n/a	n/a
Chengdu Jiafaantai Education Technology 300559.SZ	China	$602M	-26%	-26%	0%	10.8×	35.7%	-6.0%
Alpha Networks 3380.TW	Taiwan	$437M	-23%	+11%	1%	0.9×	n/a	n/a
Shenzhen Emperor Technology 300546.SZ	China	$434M	-22%	+8%	3%	3.8×	38.7%	+7.9%
AAEON Technology 6579.TW	Taiwan	$633M	-10%	+30%	9%	2.1×	n/a	n/a
Riso Kagaku 6413.T	Japan	$418M	+3%	+5%	6%	0.7×	-2.7%	+2.9%
Quanta Storage 6188.TWO	Taiwan	$409M	-45%	+3%	7%	1.2×	n/a	n/a
Apacer Technology 8271.TW	Taiwan	$655M	-28%	+182%	31%	0.8×	n/a	n/a
IEI Integration 3022.TW	Taiwan	$405M	+1%	+3%	6%	1.2×	n/a	n/a
PC Partner PCT.SI	Singapore	$662M	+4%	+18%	7%	0.3×	n/a	n/a

Questions

Which companies are Shenzhen Fluence Technology's closest peers?: The cockpit's peer set: Taiwan Semiconductor (5425.TWO), Backblaze (BLZE), Sato (6287.T), Huasu (000509.SZ), Surfilter Network Technology (300311.SZ), Stratasys (SSYS), Newcapec Electronics (300248.SZ), Quantum (QMCO).
Is Shenzhen Fluence Technology expensive compared with its peers?: On ev / sales it trades at 5.2× against a peer median of 1.2×, 3rd most expensive of 21 in its peer set.
How has Shenzhen Fluence Technology stock performed?: Over six months to 6 Nov 2026 the shares returned +6.7% against -10.2% for the median peer; over one year +10.9%.