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Fabless chip designer of MIPS/RISC-based embedded processors for smart hardware, IoT devices and, via a subsidiary, memory chips.
Fabless chip designer of MIPS/RISC-based embedded processors for smart hardware, IoT devices and, via a subsidiary, memory chips.
Designs processors and leaves manufacturing to contract foundries, selling to Chinese smart-device makers. Its memory arm came through the acquisition of ISSI, a US memory-chip company, which sells mainly to automotive and industrial buyers.
In one line: A Chinese embedded-SoC designer, akin to a smaller Allwinner/Rockchip.
Moat: narrow (IP / patents, process know-how). Long-standing MIPS/RISC embedded-processor IP and design experience versus newer entrants.
Headquarters: Beijing, China · Founded: 2005 · Employees: 1,125
Size Ingenic Semiconductor (3223.HK) is a Hong Kong Information Technology company (Semiconductors) with a market value of $7.76B, the 199th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$80.60 on 6 Nov 2026.
Growth Revenue grew 99.9% over the last twelve months (peer median +19.5%); the operating margin is 35.0% (peer median 6.9%).
Valuation It trades at 10.9× forward earnings against a peer median of 24.3× (3rd cheapest of 18).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is -20 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 21.9 points above its cost of capital (6.2% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$9.61B | HK$5.13B | HK$4.57B | HK$5.00B | HK$6.29B |
| Revenue growth | — | +12% | -9% | -20% | — |
| Gross profit | HK$5.33B | HK$1.66B | HK$1.59B | HK$1.76B | HK$2.36B |
| EBITDA | n/a | HK$453M | HK$506M | HK$701M | HK$1.11B |
| Net income | HK$3.15B | HK$408M | HK$397M | HK$594M | HK$918M |
| Free cash flow | HK$2.05B | HK$608M | HK$305M | HK$534M | -HK$210M |
| Capital expenditure | HK$321M | HK$105M | HK$123M | HK$115M | HK$162M |
| Total debt | HK$15.8M | HK$19.8M | HK$25.2M | HK$35.5M | HK$16.7M |
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 |
|---|---|---|---|---|---|---|
| Ingenic Semiconductor 3223.HK | $7.76B | n/a | +100% | 35% | 10.9× | -3.9% |
| Sunwoda Electronic 300207.SZ | $5.37B | -33% | +36% | -1% | 16.0× | n/a |
| Jinhong Gas 688106.SS | $1.17B | -42% | +15% | 2% | 67.0× | n/a |
| SG Micro 3661.HK | $5.78B | n/a | +54% | 17% | 38.7× | 3.4% |
| Mediatek 2454.TW | $164B | +7% | +6% | 15% | 24.7× | 40.7% |
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 | 3223.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.4% | -19.3% | 8th highest of 21 |
| Distance from 52-week high | -25.8% | -51.6% | 3rd highest of 21 |
| Revenue growth (TTM) | +99.9% | +19.5% | 2nd highest of 21 |
| Operating margin | 35.0% | 6.9% | 3rd highest of 21 |
| Forward P/E | 10.9× | 24.3× | 3rd cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -3.9% | 24.5% | least demanding of 8 |
| Growth delivered (Del g) | +16.1% | +23.5% | 4th lowest of 8 |
| Hurdle (Req g minus delivered) | -20.0 pp | +9.2 pp | least demanding of 8 |
| ROIC minus cost of capital | +21.9 pp | -3.7 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ingenic Semiconductor 3223.HK | Hong Kong | $7.76B | n/a | +100% | 35% | 10.9× | -3.9% | +16.1% |
| Tianshui Huatian Technology 002185.SZ | China | $7.74B | +10% | +33% | 4% | 45.0× | n/a | n/a |
| Powerchip Semiconductor Manufacturing 6770.TW | Taiwan | $7.54B | -5% | +22% | -5% | 7.6× | 11.3% | +0.5% |
| RMBS RMBS | United States | $7.98B | -42% | +17% | 37% | 19.9× | 24.5% | +23.5% |
| Konfoong Materials International 300666.SZ | China | $8.09B | +9% | +35% | 10% | 53.5× | n/a | n/a |
| Shenzhen Techwinsemi Technology 001309.SZ | China | $8.12B | -64% | +317% | 35% | 6.7× | n/a | n/a |
| WAAREE Energies WAAREEENER.NS | India | $7.41B | -24% | +75% | 16% | 17.3× | n/a | n/a |
| Amkor Technology AMKR | United States | $8.13B | -57% | +16% | 10% | 12.1× | n/a | n/a |
| Silicon Laboratories SLAB | United States | $7.39B | +2% | +22% | -3% | 60.3× | n/a | n/a |
| Alchip Technologies Limitd 3661.TW | Taiwan | $7.35B | -32% | -51% | 23% | 14.4× | n/a | n/a |
| VeriSilicon Microelectronics (Shanghai) 688521.SS | China | $8.31B | -63% | +39% | -23% | n/a | 40.5% | +15.9% |
| SG Micro 300661.SZ | China | $8.33B | -12% | +46% | 17% | 55.7× | 35.9% | +26.7% |
| Smartsens Technology (Shanghai) 688213.SS | China | $7.01B | +21% | +27% | 13% | 30.9× | 23.1% | +42.7% |
| Minebea Mitsumi 6479.T | Japan | $6.97B | -13% | +12% | 7% | 11.9× | 10.8% | +11.0% |
| Sanan Optoelectronics 600703.SS | China | $6.87B | -33% | -22% | -7% | n/a | n/a | n/a |
| Nexchip Semiconductor 688249.SS | China | $8.80B | -17% | +14% | 7% | 66.4× | n/a | n/a |
| Vanguard International Semiconductor 5347.TWO | Taiwan | $6.82B | -22% | +10% | 17% | 17.7× | n/a | n/a |
| Rohm 6963.T | Japan | $6.76B | -19% | +12% | 4% | 24.3× | n/a | n/a |
| United Nova Technology 688469.SS | China | $8.92B | +4% | +42% | -10% | 102.1× | n/a | n/a |
| Jinko Solar 688223.SS | China | $6.73B | -34% | -18% | -11% | n/a | n/a | n/a |
| Suzhou Maxwell Technologies 300751.SZ | China | $6.72B | -33% | -26% | 6% | 72.0× | 47.7% | +29.0% |