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Chinese maker of flexible printed circuits (FPC) for smartphones, laptops and other electronic devices.
Chinese maker of flexible printed circuits (FPC) for smartphones, laptops and other electronic devices.
In one line: A smaller China-based Zhen Ding Technology in flexible circuits.
Moat: none (process know-how). FPC manufacturing is capital-intensive but competitive, with limited pricing power versus larger Taiwanese peers.
Headquarters: Xiamen, China · Employees: 5,842
Size XiaMen HongXin Electron-tech (300657.SZ) is a China Information Technology company (Electronic Production Equipment) with a market value of $2.21B, the 1155th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥29.44 on 6 Nov 2026.
Performance Over six months the shares fell 17.7%, against -28.5% for the median peer and -16.4% for the China market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 4.1% over the last twelve months (peer median +15.2%); the operating margin is 7.8% (peer median 5.0%).
Valuation It trades at 28.2× forward earnings against a peer median of 28.2× (10th cheapest of 19).
Capital Return on invested capital runs 1.1 points above its cost of capital (9.6% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.26B | CN¥7.29B | CN¥5.86B | CN¥3.47B | CN¥2.78B |
| Revenue growth | — | +24% | +69% | +25% | — |
| Gross profit | CN¥1.40B | CN¥861M | CN¥550M | CN¥39.1M | CN¥96.6M |
| EBITDA | n/a | CN¥846M | CN¥482M | -CN¥99.6M | -CN¥10.9M |
| Net income | CN¥273M | CN¥147M | CN¥56.8M | -CN¥436M | -CN¥308M |
| Free cash flow | -CN¥1.22B | -CN¥475M | -CN¥933M | -CN¥57.0M | -CN¥186M |
| Capital expenditure | CN¥1.12B | CN¥551M | CN¥1.14B | CN¥200M | CN¥290M |
| Total debt | CN¥4.74B | CN¥4.11B | CN¥2.49B | CN¥1.73B | CN¥1.72B |
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 |
|---|---|---|---|---|---|---|
| XiaMen HongXin Electron-tech 300657.SZ | $2.21B | -18% | +4% | 8% | 28.2× | n/a |
| Zhen Ding Technology Holding Lt 4958.TW | $12.8B | -12% | +5% | 9% | 18.4× | n/a |
| Career Technology (MFG.) 6153.TW | n/a | -25% | n/a | n/a | n/a | n/a |
| Suzhou Dongshan Precision Manufacturing 002384.SZ | $26.9B | -57% | +56% | 11% | 18.0× | 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 | 300657.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.6% | -20.3% | highest of 21 |
| 6-month return | -17.7% | -28.5% | 7th highest of 21 |
| Distance from 52-week high | -49.7% | -54.8% | 9th highest of 21 |
| Revenue growth (TTM) | +4.1% | +15.2% | 5th lowest of 21 |
| Operating margin | 7.8% | 5.0% | 8th highest of 21 |
| Forward P/E | 28.2× | 28.2× | 10th cheapest of 19 |
| ROIC minus cost of capital | +1.1 pp | -2.6 pp | 5th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 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% |
| Benchmark Electronics BHE | United States | $2.16B | -29% | +13% | 4% | 17.7× | 13.8% | +5.3% |
| Xiamen Intretech 002925.SZ | China | $2.16B | -3% | +39% | 9% | 32.1× | n/a | n/a |
| 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% |
| Nippon Electric Glass 5214.T | Japan | $2.32B | -44% | +3% | 8% | 22.6× | 2.4% | +5.1% |
| Shenzhen SED Industry 000032.SZ | China | $2.03B | -36% | +5% | 1% | 42.9× | 7.0% | +8.9% |
| Plug Power PLUG | United States | $2.03B | -54% | +11% | -68% | n/a | n/a | n/a |
| Kitron KIT.OL | Norway | $2.02B | -20% | +54% | 10% | 22.0× | -0.6% | +16.9% |
| Shenzhen Zesum Technology 301486.SZ | China | $2.41B | -42% | +57% | 3% | 99.2× | n/a | n/a |
| Sinomag Technology 300835.SZ | China | $2.54B | +10% | +18% | 6% | 75.2× | n/a | n/a |
| AXT AXTI | United States | $2.55B | -67% | +89% | 20% | 16.2× | n/a | n/a |
| LG Display 034220.KS | South Korea | $2.61B | -42% | -7% | 2% | n/a | -13.4% | +1.2% |
| Shenzhen Microgate Technology 300319.SZ | China | $1.86B | +12% | +11% | 8% | 30.5× | 22.5% | +10.3% |
| Forehope Electronic (Ningbo) 688362.SS | China | $2.67B | -19% | +19% | 0% | 86.7× | n/a | n/a |
| Marketech International 6196.TW | Taiwan | $2.68B | +8% | +44% | 7% | 13.0× | 6.3% | +15.5% |
| 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% |