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Shenzhen contract maker of Ethernet switches, routers and wireless devices sold under other firms' brands, adding servers and DPU boards.
Shenzhen contract maker of Ethernet switches, routers and wireless devices sold under other firms' brands, adding servers and DPU boards.
Designs and builds networking equipment under other companies' brands, so sales depend on a few brand owners, led by H3C, rather than on end buyers. Switches and routers carry the company, built on chips from suppliers such as Broadcom and Marvell. It is adding servers, DPU boards (network-offload cards) and car electronics to reduce that dependence.
Moat: narrow (customer qualification, process know-how). Qualified supplier to a few networking brands, but sales are concentrated and switch ODM work is competitive.
Headquarters: Shenzhen, China · Founded: 1999 · Employees: 1,501
Size Shenzhen Phoenix Telecom Technology (301191.SZ) is a China Information Technology company (Telecommunications Equipment) with a market value of $854M, the 2608th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥59.05 on 6 Nov 2026.
Performance Over six months the shares fell 42.0%, against -30.4% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 30.1% over the last twelve months (peer median +3.0%); the operating margin is -0.2% (peer median -5.8%).
Valuation It trades at 47.2× forward earnings against a peer median of 35.9× (4th most expensive of 11).
Capital Return on invested capital runs 7.9 points below its cost of capital (10.7% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.15B | CN¥1.77B | CN¥1.67B | CN¥2.07B | CN¥2.35B |
| Revenue growth | — | +6% | -19% | -12% | — |
| Gross profit | CN¥290M | CN¥198M | CN¥250M | CN¥306M | CN¥343M |
| EBITDA | n/a | CN¥88.2M | CN¥158M | CN¥195M | CN¥247M |
| Net income | CN¥69.4M | CN¥64.9M | CN¥117M | CN¥144M | CN¥196M |
| Free cash flow | -CN¥620M | -CN¥187M | CN¥214M | CN¥212M | CN¥167M |
| Capital expenditure | CN¥40.2M | CN¥79.1M | CN¥26.3M | CN¥29.8M | CN¥83.7M |
| Total debt | CN¥904M | CN¥862M | CN¥148M | CN¥170M | CN¥193M |
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 Phoenix Telecom Technology 301191.SZ | $854M | -42% | +30% | 0% | 47.2× | n/a |
| Accton Technology 2345.TW | $21.6B | -49% | +82% | 14% | 12.5× | 4.5% |
| Sercomm 5388.TW | $591M | -19% | +34% | 3% | 9.3× | n/a |
| Shenzhen Gongjin Electronics 603118.SS | $1.42B | -18% | +21% | 2% | n/a | 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 | 301191.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.4% | -13.3% | 4th lowest of 21 |
| 6-month return | -42.0% | -30.4% | 5th lowest of 21 |
| Distance from 52-week high | -57.6% | -50.1% | 9th lowest of 21 |
| Revenue growth (TTM) | +30.1% | +3.0% | 3rd highest of 21 |
| Operating margin | -0.2% | -5.8% | 9th highest of 21 |
| Forward P/E | 47.2× | 35.9× | 4th most expensive of 11 |
| ROIC minus cost of capital | -7.9 pp | -9.5 pp | 10th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Phoenix Telecom Technology 301191.SZ | China | $854M | -42% | +30% | 0% | 47.2× | n/a | n/a |
| Anhui Tatfook Technology 300134.SZ | China | $852M | -32% | +14% | -14% | n/a | n/a | n/a |
| Astroscale 186A.T | Japan | $865M | -25% | +70% | -275% | n/a | n/a | n/a |
| HTC 2498.TW | Taiwan | $885M | -15% | -8% | -78% | n/a | n/a | n/a |
| Arcadyan Technology 3596.TW | Taiwan | $900M | -17% | +6% | 6% | 9.8× | n/a | n/a |
| Chengdu Spaceon Electronics 002935.SZ | China | $909M | -37% | +1% | 5% | 43.5× | 49.9% | +1.3% |
| Wuhan Fingu Electronic Technology 002194.SZ | China | $914M | -19% | -9% | -2% | n/a | n/a | n/a |
| Synspective 290A.T | Japan | $950M | -16% | +5% | -196% | 52.9× | n/a | n/a |
| Shenzhen Coship Electronics 002052.SZ | China | $757M | -34% | -75% | -5% | n/a | n/a | n/a |
| Zhiyang Innovation Technology 688191.SS | China | $753M | -53% | -2% | -8% | 57.9× | n/a | n/a |
| Skyworth 0751.HK | Hong Kong | $749M | -51% | +5% | 2% | 6.2× | n/a | n/a |
| ShenZhen Consys Science & Technology 688788.SS | China | $746M | -41% | -22% | -173% | n/a | n/a | n/a |
| santec 6777.T | Japan | $984M | -53% | +45% | 33% | 15.5× | 23.5% | +33.2% |
| Huizhou Speed Wireless Technology 300322.SZ | China | $991M | -52% | +25% | 3% | 62.4× | n/a | n/a |
| Nanjing Panda Electronics 600775.SS | China | $992M | -27% | +30% | -7% | n/a | n/a | n/a |
| Invisio IVSO.ST | Sweden | $1.00B | -15% | +24% | 18% | 39.8× | 13.2% | +26.7% |
| Sumavision Technologies 300079.SZ | China | $1.01B | -14% | -6% | -8% | n/a | n/a | n/a |
| Suzhou Keda Technology 603660.SS | China | $713M | -31% | -32% | -59% | n/a | n/a | n/a |
| Beijing UniStrong Science & Technology 002383.SZ | China | $712M | -30% | -1% | -15% | n/a | n/a | n/a |
| Harmonic HLIT | United States | $1.04B | -26% | -21% | 15% | 11.6× | 10.0% | -1.0% |
| Flaircomm Microelectronics 301600.SZ | China | $1.04B | -35% | +19% | 9% | 32.0× | 27.2% | +29.1% |