Loading…
Maker of thermal-management and EMI-shielding materials — graphite films, thermal pads and power filters — for electronics reliability.
Maker of thermal-management and EMI-shielding materials — graphite films, thermal pads and power filters — for electronics reliability.
In one line: China's a materials supplier like Laird Performance Materials.
Moat: narrow (IP / patents, process know-how). Thermal/conductive-polymer formulation know-how differentiates it from generic materials suppliers.
Headquarters: Beijing, China · Founded: 2008 · Employees: 1,165
Size Jones Tech (300684.SZ) is a China Information Technology company (Electronic Production Equipment) with a market value of $3.83B, the 673rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥65.02 on 6 Nov 2026.
Performance Over six months the shares gained 19.6%, against -14.6% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 15.1% over the last twelve months (peer median +24.4%); the operating margin is 20.5% (peer median 8.6%).
Valuation It trades at 45.3× forward earnings against a peer median of 24.4× (4th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 43% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +33 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 10.5 points above its cost of capital (12.7% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.04B | CN¥1.83B | CN¥1.56B | CN¥1.25B | CN¥1.59B |
| Revenue growth | — | +17% | +25% | -21% | — |
| Gross profit | CN¥767M | CN¥629M | CN¥446M | CN¥276M | CN¥416M |
| EBITDA | n/a | CN¥462M | CN¥288M | CN¥155M | CN¥272M |
| Net income | CN¥372M | CN¥339M | CN¥201M | CN¥73.8M | CN¥193M |
| Free cash flow | CN¥84.2M | CN¥131M | CN¥182M | CN¥119M | CN¥233M |
| Capital expenditure | CN¥274M | CN¥172M | CN¥61.5M | CN¥79.4M | CN¥128M |
| Total debt | CN¥98.7M | CN¥87.2M | CN¥108M | CN¥79.5M | CN¥164M |
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 |
|---|---|---|---|---|---|---|
| Jones Tech 300684.SZ | $3.83B | +20% | +15% | 20% | 45.3× | 42.9% |
| 3M MMM | $95.7B | +30% | +2% | 21% | 19.2× | 11.3% |
| Parker Hannifin PH | $116B | +4% | +8% | 22% | 24.4× | 19.0% |
| Henkel AG & Co. KGaA HEN.DE | $35.4B | +25% | -3% | 15% | 13.6× | -1.9% |
| Shin-etsu Chemical 4063.T | $66.5B | -27% | +5% | 25% | 17.2× | 8.9% |
| Dexerials 4980.T | $2.55B | -4% | +5% | 35% | 13.8× | 15.0% |
| Rogers ROG | $2.17B | -13% | +7% | 10% | 26.2× | 10.3% |
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 | 300684.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -27.8% | -16.6% | 9th lowest of 21 |
| 6-month return | +19.6% | -14.6% | 4th highest of 21 |
| Distance from 52-week high | -48.8% | -42.6% | 10th lowest of 21 |
| Revenue growth (TTM) | +15.1% | +24.4% | 4th lowest of 21 |
| Operating margin | 20.5% | 8.6% | 3rd highest of 21 |
| Forward P/E | 45.3× | 24.4× | 4th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 42.9% | 18.8% | 2nd most demanding of 12 |
| Growth delivered (Del g) | +9.8% | +14.2% | 6th lowest of 12 |
| Hurdle (Req g minus delivered) | +33.1 pp | +5.6 pp | 2nd most demanding of 12 |
| ROIC minus cost of capital | +10.5 pp | -0.3 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jones Tech 300684.SZ | China | $3.83B | +20% | +15% | 20% | 45.3× | 42.9% | +9.8% |
| Universal Display OLED | United States | $3.98B | -4% | -2% | 35% | 19.6× | 14.3% | +8.7% |
| Changsha Jingjia Microelectronics 300474.SZ | China | $3.59B | -30% | +50% | -77% | n/a | n/a | n/a |
| Vishay Intertechnology VSH | United States | $3.57B | -32% | +18% | 5% | 13.2× | 18.8% | +4.2% |
| Fositek 6805.TW | Taiwan | $3.50B | -15% | +46% | 27% | 20.0× | 14.7% | +41.1% |
| JoulWatt Technology 688141.SS | China | $4.44B | -30% | +50% | -28% | n/a | n/a | n/a |
| Olympic Circuit Technology 603920.SS | China | $3.29B | -42% | +21% | 6% | 30.1× | n/a | n/a |
| Shenzhen Sunlord Electronics 002138.SZ | China | $4.55B | +11% | +20% | 16% | 24.4× | 14.5% | +14.2% |
| LG Innotek 011070.KS | South Korea | $4.62B | -54% | +20% | 4% | 9.6× | -0.3% | +18.1% |
| MDA Space MDA.TO | Canada | $4.65B | -14% | +38% | 5% | 28.1× | n/a | n/a |
| Guangdong Create Century Intelligent Equipment 300083.SZ | China | $3.13B | +7% | +35% | 11% | 24.4× | n/a | n/a |
| Quectel Wireless Solutions 603236.SS | China | $4.71B | +50% | +30% | 5% | 21.1× | n/a | n/a |
| Lagercrantz LAGR-B.ST | Sweden | $4.72B | -6% | +17% | 15% | 30.8× | 20.6% | +21.0% |
| OFILM 002456.SZ | China | $3.10B | -35% | -17% | -1% | n/a | 27.0% | -14.4% |
| OPT Machine Vision Tech 688686.SS | China | $2.96B | +48% | +38% | 12% | 75.4× | n/a | n/a |
| Exosens EXENS.PA | France | $2.95B | -11% | +15% | 17% | 27.5× | 24.3% | +25.6% |
| Asmpt 0522.HK | Hong Kong | $5.02B | -47% | +21% | 9% | 20.4× | 12.1% | -1.3% |
| Plexus PLXS | United States | $5.12B | -28% | +23% | 5% | 17.9× | n/a | n/a |
| 3Peak 688536.SS | China | $5.26B | -5% | +74% | 16% | 50.7× | 46.0% | +30.6% |
| Zhejiang Jiemei Electronic & Technology 002859.SZ | China | $2.71B | -21% | +26% | 13% | 47.3× | n/a | n/a |
| Guangdong Fenghua Advanced Technology (Holding) 000636.SZ | China | $5.42B | +26% | +36% | 8% | 45.0× | 28.6% | +5.9% |