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Maker of high-performance CMOS image sensors for scientific, industrial machine-vision and medical imaging applications.
Maker of high-performance CMOS image sensors for scientific, industrial machine-vision and medical imaging applications.
Designs sensors but has outside chip foundries make them, then sells to camera and equipment makers who design each sensor into a product, so a win tends to last for that product's life. High-specification industrial and scientific sensors, rather than phone cameras, are its focus.
In one line: A Chinese Teledyne-style scientific & industrial image-sensor maker.
Moat: narrow (IP / patents, process know-how). Specialized high-performance sensor design know-how in a niche, high-spec segment.
Headquarters: Changchun, China · Founded: 2013 · Employees: 465
Size Gpixel Changchun Microelectronics (3277.HK) is a Hong Kong Information Technology company (Semiconductors) with a market value of $2.45B, the 385th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$43.20 on 6 Nov 2026.
Performance Over six months the shares fell 48.1%, against -24.7% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 27.3% over the last twelve months (peer median +24.1%); the operating margin is 33.1% (peer median 11.3%).
Valuation It trades at 28.0× forward earnings against a peer median of 29.4× (9th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 66.3 points above its cost of capital (5.3% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | n/a | HK$929M | HK$730M | HK$668M | HK$703M |
| Revenue growth | — | +27% | +9% | -5% | — |
| Gross profit | n/a | HK$598M | HK$412M | HK$407M | HK$521M |
| EBITDA | n/a | HK$342M | HK$218M | HK$210M | -HK$39.6M |
| Net income | n/a | HK$319M | HK$215M | HK$192M | -HK$96.7M |
| Free cash flow | n/a | HK$505M | HK$239M | HK$217M | HK$116M |
| Capital expenditure | n/a | HK$26.6M | HK$31.3M | HK$31.0M | HK$33.5M |
| Total debt | n/a | HK$7.04M | HK$18.1M | HK$18.7M | HK$21.3M |
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 |
|---|---|---|---|---|---|---|
| Gpixel Changchun Microelectronics 3277.HK | $2.45B | -48% | +27% | 33% | 28.0× | 6.9% |
| Teledyne Technologies TDY | $28.5B | 0% | +8% | 20% | 22.9× | 15.5% |
| ON Semiconductor ON | $24.6B | -39% | +3% | 19% | 14.3× | 20.0% |
| Sony 6758.T | $156B | +33% | +1% | 13% | 18.7× | 3.4% |
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 | 3277.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -39.7% | -21.3% | 5th lowest of 21 |
| 6-month return | -48.1% | -24.7% | 4th lowest of 21 |
| Distance from 52-week high | -63.1% | -55.4% | 6th lowest of 21 |
| Revenue growth (TTM) | +27.3% | +24.1% | 9th highest of 21 |
| Operating margin | 33.1% | 11.3% | 2nd highest of 21 |
| Forward P/E | 28.0× | 29.4× | 9th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 6.9% | 25.4% | 5th least demanding of 13 |
| Growth delivered (Del g) | +9.7% | +17.1% | 4th lowest of 13 |
| Hurdle (Req g minus delivered) | -2.8 pp | +1.3 pp | 5th least demanding of 13 |
| ROIC minus cost of capital | +66.3 pp | -0.3 pp | highest of 21 |
| EV / EBITDA | 42.8× | 13.4× | most expensive of 7 |
| Net debt / EBITDA | -13.5× | -1.8× | least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Gpixel Changchun Microelectronics 3277.HK | Hong Kong | $2.45B | -48% | +27% | 33% | 28.0× | 6.9% | +9.7% |
| Wuxi NCE Power 605111.SS | China | $2.45B | -3% | +28% | 19% | 30.4× | 27.2% | +14.5% |
| Hefei Chipmore Technology 688352.SS | China | $2.45B | +7% | -1% | 7% | 53.1× | n/a | n/a |
| Great Microwave Technology 688270.SS | China | $2.46B | -41% | +8% | 32% | 69.6× | 48.7% | +23.2% |
| DB HiTek 000990.KS | South Korea | $2.41B | -48% | +29% | 21% | 8.9× | 2.3% | +8.3% |
| Sunrun RUN | United States | $2.40B | -32% | +63% | 2% | 38.7× | n/a | n/a |
| StarPower Semiconductor 603290.SS | China | $2.50B | -33% | +4% | 1% | 76.8× | 26.3% | +33.0% |
| Acter 5536.TWO | Taiwan | $2.39B | -26% | +28% | 16% | 10.0× | -6.0% | +24.3% |
| PENG PENG | United States | $2.52B | -5% | +26% | 10% | 9.2× | n/a | n/a |
| Holy Stone Enterprise 3026.TW | Taiwan | $2.39B | +91% | +17% | 2% | 21.0× | n/a | n/a |
| OUST OUST | United States | $2.54B | +38% | +64% | -29% | n/a | n/a | n/a |
| MLS 002745.SZ | China | $2.36B | +11% | +19% | -4% | 24.0× | 2.4% | +0.1% |
| Shanghai Fullhan Microelectronics 300613.SZ | China | $2.35B | +14% | +91% | 26% | 43.1× | n/a | n/a |
| Ambarella AMBA | United States | $2.58B | -23% | +20% | -15% | 66.0× | n/a | n/a |
| NVTS NVTS | United States | $2.32B | -53% | -29% | -273% | n/a | n/a | n/a |
| Asmedia Technology 5269.TW | Taiwan | $2.60B | -14% | +38% | 25% | 12.5× | 12.3% | +14.0% |
| Leeno Industrial 058470.KS | South Korea | $2.60B | -61% | +24% | 49% | 19.4× | 6.3% | +13.1% |
| Chunghwa Precision Test Tech 6510.TWO | Taiwan | $2.30B | -37% | +24% | 32% | 28.3× | 24.4% | +2.7% |
| Hermes Testing Solutions 7856.TWO | Taiwan | $2.29B | -32% | +52% | 12% | 46.2× | 52.1% | +51.8% |
| Giantec Semiconductor 688123.SS | China | $2.27B | -23% | +13% | 22% | 23.3× | 39.2% | +19.8% |
| Xiamen Changelight 300102.SZ | China | $2.26B | -50% | -38% | -2% | 71.3× | 34.6% | +21.1% |