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Makes production-line equipment (wet chemical, diffusion furnaces, laser, metallization tools) for solar cell manufacturing.
Makes production-line equipment (wet chemical, diffusion furnaces, laser, metallization tools) for solar cell manufacturing.
Sells tools in large orders tied to solar cell makers' expansions, so revenue swings with solar investment and lags orders. New cell designs such as TOPCon need different process steps, which creates upgrade demand.
In one line: A Chinese solar cell equipment maker, akin to a photovoltaic-focused equipment vendor.
Moat: narrow (process know-how, installed base). Established domestic supplier of solar cell process equipment, but tied to cyclical solar capex and multiple competitors.
Headquarters: Shenzhen, China · Founded: 2003 · Employees: 4,488
Size Shenzhen S.C New Energy Technology (300724.SZ) is a China Information Technology company (Semiconductors) with a market value of $3.12B, the 830th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥59.85 on 6 Nov 2026.
Performance Over six months the shares fell 35.8%, against -24.1% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 20 in its peer set.
Growth Revenue fell 67.3% over the last twelve months (peer median +28.7%); the operating margin is 8.1% (peer median 5.1%).
Valuation It trades at 24.2× forward earnings against a peer median of 36.2× (5th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +31%, so the hurdle is -23 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.9 points below its cost of capital (13.9% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.41B | CN¥15.4B | CN¥18.8B | CN¥8.66B | CN¥5.98B |
| Revenue growth | — | -18% | +117% | +45% | — |
| Gross profit | CN¥1.96B | CN¥4.26B | CN¥4.88B | CN¥2.30B | CN¥1.46B |
| EBITDA | n/a | CN¥2.82B | CN¥2.99B | CN¥1.63B | CN¥851M |
| Net income | CN¥562M | CN¥2.62B | CN¥2.76B | CN¥1.63B | CN¥1.05B |
| Free cash flow | CN¥2.45B | -CN¥1.24B | CN¥2.79B | CN¥3.27B | CN¥1.26B |
| Capital expenditure | CN¥205M | CN¥202M | CN¥300M | CN¥311M | CN¥225M |
| Total debt | CN¥747M | CN¥752M | CN¥293M | CN¥2.91B | CN¥1.90B |
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 |
|---|---|---|---|---|---|---|
| Shenzhen S.C New Energy Technology 300724.SZ | $3.12B | -36% | -67% | 8% | 24.2× | 7.6% |
| Suzhou Maxwell Technologies 300751.SZ | $6.72B | -33% | -26% | 6% | 72.0× | 47.7% |
| LAPLACE Renewable Energy Technology 688726.SS | $1.30B | -36% | -22% | 8% | 24.5× | 1.4% |
| Zhejiang Jingsheng Mechanical & Electrical 300316.SZ | $7.69B | -13% | -25% | 0% | 74.3× | 39.6% |
| Wuxi Autowell Technology 688516.SS | $2.22B | -42% | -14% | 8% | 23.4× | 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 | 300724.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +16.2% | -25.3% | 2nd highest of 21 |
| 6-month return | -35.8% | -24.1% | 5th lowest of 20 |
| Distance from 52-week high | -60.7% | -54.5% | 7th lowest of 21 |
| Revenue growth (TTM) | -67.3% | +28.7% | lowest of 21 |
| Operating margin | 8.1% | 5.1% | 8th highest of 20 |
| Forward P/E | 24.2× | 36.2× | 5th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 7.6% | 24.3% | 2nd least demanding of 9 |
| Growth delivered (Del g) | +30.8% | +11.8% | highest of 9 |
| Hurdle (Req g minus delivered) | -23.2 pp | +15.8 pp | 2nd least demanding of 9 |
| ROIC minus cost of capital | -2.9 pp | -7.4 pp | 7th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen S.C New Energy Technology 300724.SZ | China | $3.12B | -36% | -67% | 8% | 24.2× | 7.6% | +30.8% |
| Rorze 6323.T | Japan | $3.11B | -24% | +10% | 27% | 12.6× | 14.3% | +20.4% |
| Airoha Technology 6526.TW | Taiwan | $3.16B | +5% | +10% | 6% | 25.4× | 23.8% | +16.5% |
| Xintec 3374.TWO | Taiwan | $3.08B | +88% | +17% | 23% | 36.2× | n/a | n/a |
| Chipbond Technology 6147.TWO | Taiwan | $3.20B | -20% | +18% | 17% | 17.2× | n/a | n/a |
| Shanghai Awinic Technology 688798.SS | China | $3.04B | -9% | +2% | 1% | 39.5× | n/a | n/a |
| InnoScience (Suzhou) Technology 2577.HK | Hong Kong | $3.03B | -63% | +56% | -49% | n/a | n/a | n/a |
| AP Memory Technology 6531.TW | Taiwan | $2.99B | -35% | +63% | 29% | 27.0× | 34.1% | +9.8% |
| Shenyang Fortune Precision Equipment 688409.SS | China | $3.28B | -2% | +34% | 4% | 122.8× | n/a | n/a |
| Jiangsu JieJie Microelectronics 300623.SZ | China | $3.31B | -9% | +34% | 17% | 24.6× | 17.9% | +28.2% |
| Jiangsu X-chip Semiconductor Tech 301707.SZ | China | $3.40B | n/a | +55% | 41% | n/a | n/a | n/a |
| Suzhou Everbright Photonics 688048.SS | China | $3.48B | -63% | +88% | -1% | 626.2× | n/a | n/a |
| Sino-American Silicon Products 5483.TWO | Taiwan | $2.80B | 0% | -1% | 12% | 15.8× | n/a | n/a |
| JA Solar Technology 002459.SZ | China | $3.50B | -35% | -23% | n/a | n/a | -20.3% | +13.7% |
| IPG Photonics IPGP | United States | $2.78B | -38% | +15% | 5% | 32.8× | 24.8% | -3.5% |
| Hangzhou Lion Electronics 605358.SS | China | $3.55B | -25% | +24% | -1% | 81.0× | n/a | n/a |
| Diodes DIOD | United States | $3.56B | -31% | +18% | 5% | 14.6× | 34.0% | +3.8% |
| Suzhou Novosense Microlectronics 2676.HK | Hong Kong | $3.57B | -28% | +86% | -2% | 121.4× | n/a | n/a |
| Shanghai Bright Power Semiconductor 688368.SS | China | $2.72B | -20% | +90% | 6% | 85.4× | 54.1% | +7.3% |
| Suzhou Novosense Microelectronics 688052.SS | China | $3.60B | -15% | +77% | -2% | 209.7× | n/a | n/a |
| Linktel Technologies 301205.SZ | China | $3.60B | -39% | +54% | 3% | 281.1× | n/a | n/a |