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Employees: 1,066
Size Mingyue Optical Lens (301101.SZ) is a China Health Care company (Medical Specialties) with a market value of $1.14B, the 2057th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥37.80 on 6 Nov 2026.
Performance Over six months the shares gained 6.4%, against -13.9% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 14.5% over the last twelve months (peer median +11.0%); the operating margin is 25.3% (peer median 8.6%).
Valuation It trades at 33.7× forward earnings against a peer median of 18.8× (4th most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +1 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 29.2 points above its cost of capital (6.8% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥931M | CN¥821M | CN¥764M | CN¥742M | CN¥617M |
| Revenue growth | — | +8% | +3% | +20% | — |
| Gross profit | CN¥562M | CN¥445M | CN¥422M | CN¥410M | CN¥316M |
| EBITDA | n/a | CN¥264M | CN¥239M | CN¥218M | CN¥165M |
| Net income | CN¥220M | CN¥193M | CN¥177M | CN¥158M | CN¥136M |
| Free cash flow | CN¥179M | CN¥207M | CN¥179M | CN¥155M | CN¥95.0M |
| Capital expenditure | CN¥93.2M | CN¥96.8M | CN¥70.8M | CN¥81.4M | CN¥77.5M |
| Total debt | CN¥2.53M | CN¥49.5M | CN¥4.01M | CN¥6.81M | CN¥9.57M |
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| Measure | 301101.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +29.4% | +1.2% | highest of 21 |
| 6-month return | +6.4% | -13.9% | 6th highest of 20 |
| Distance from 52-week high | -24.2% | -35.4% | 7th highest of 21 |
| Revenue growth (TTM) | +14.5% | +11.0% | 8th highest of 20 |
| Operating margin | 25.3% | 8.6% | 5th highest of 20 |
| Forward P/E | 33.7× | 18.8× | 4th most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 10.0% | 7.1% | 5th most demanding of 11 |
| Growth delivered (Del g) | +8.8% | +9.2% | 6th highest of 11 |
| Hurdle (Req g minus delivered) | +1.3 pp | -1.4 pp | 5th most demanding of 11 |
| ROIC minus cost of capital | +29.2 pp | -4.8 pp | 3rd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Mingyue Optical Lens 301101.SZ | China | $1.14B | +6% | +14% | 25% | 33.7× | 10.0% | +8.8% |
| Alphatec ATEC | United States | $1.15B | -1% | +15% | -3% | 15.0× | n/a | n/a |
| Beijing Strong Biotechnologies 300406.SZ | China | $1.13B | +1% | -4% | 36% | 18.2× | 1.5% | +9.9% |
| Inno Laser Technology 301021.SZ | China | $1.16B | -18% | +17% | 9% | n/a | 53.9% | +8.6% |
| Tandem Diabetes Care TNDM | United States | $1.18B | +9% | +4% | -4% | n/a | n/a | n/a |
| Beijing Wandong Medical Technology 600055.SS | China | $1.11B | -27% | -11% | -33% | n/a | n/a | n/a |
| PROCEPT BioRobotics PRCT | United States | $1.18B | -19% | +23% | -34% | n/a | n/a | n/a |
| IRadimed IRMD | United States | $1.10B | 0% | +11% | 32% | 36.0× | 19.1% | +21.5% |
| Amoy Diagnostics 300685.SZ | China | $1.10B | -14% | +7% | 34% | 20.9× | 6.5% | +10.3% |
| Freenome FRNM | United States | $1.09B | n/a | n/a | n/a | n/a | n/a | n/a |
| SI-BONE SIBN | United States | $1.09B | +98% | +14% | -8% | n/a | n/a | n/a |
| PHC 6523.T | Japan | $1.09B | +36% | +3% | 7% | 7.9× | -2.3% | +3.6% |
| Tinavi Medical Technologies 688277.SS | China | $1.08B | -30% | -2% | -59% | n/a | n/a | n/a |
| INKON Life Technology 300143.SZ | China | $1.08B | -14% | +22% | 12% | 55.2× | 12.4% | +12.9% |
| L&C BIO 290650.KS | South Korea | $1.07B | -17% | +53% | 17% | 213.2× | n/a | n/a |
| Shandong Weigao Orthopaedic Device 688161.SS | China | $1.24B | -25% | -6% | 18% | 27.0× | 12.7% | -3.5% |
| Edan Instruments 300206.SZ | China | $1.05B | -19% | +14% | 17% | 18.8× | 7.7% | -2.9% |
| CLASSYS 214150.KS | South Korea | $1.25B | -54% | +25% | 46% | 12.1× | -8.7% | +34.5% |
| Integra LifeSciences IART | United States | $1.04B | -4% | +1% | 12% | 5.8× | 5.2% | +3.6% |
| Guangzhou Hexin Instrument 688622.SS | China | $1.26B | +58% | -29% | -74% | n/a | n/a | n/a |
| Ceribell CBLL | United States | $1.03B | +32% | +31% | -70% | n/a | n/a | n/a |