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IDM making discrete power devices (MOSFETs, IGBTs), analog ICs and MEMS sensors for consumer, industrial and auto uses.
IDM making discrete power devices (MOSFETs, IGBTs), analog ICs and MEMS sensors for consumer, industrial and auto uses.
Designs and manufactures its own chips, so it earns both the design and the factory margin but must keep its fabs full. Chips for motor drives and power supplies in home appliances carry much of the volume.
In one line: A smaller, China-focused ON Semiconductor / Infineon for discretes.
Moat: narrow (scale, process know-how, installed base). One of China's largest IDMs in discretes with own fabs, but competes in a commoditized global power-device market.
Headquarters: Hangzhou, China · Founded: 1997 · Employees: 11,113
Size Hangzhou Silan Microelectronics (600460.SS) is a China Information Technology company (Semiconductors) with a market value of $5.93B, the 422nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥23.77 on 6 Nov 2026.
Performance Over six months the shares fell 17.8%, against -25.5% for the median peer and -16.4% for the China market (cap-weighted) — 10th highest of 20 in its peer set.
Growth Revenue grew 11.8% over the last twelve months (peer median +29.1%); the operating margin is 1.9% (peer median 17.5%).
Valuation It trades at 41.1× forward earnings against a peer median of 43.3× (9th cheapest of 17).
Capital Return on invested capital runs 6.0 points below its cost of capital (11.2% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥14.3B | CN¥13.0B | CN¥11.2B | CN¥9.30B | CN¥8.27B |
| Revenue growth | — | +16% | +20% | +12% | — |
| Gross profit | CN¥3.50B | CN¥2.19B | CN¥1.89B | CN¥1.89B | CN¥2.31B |
| EBITDA | n/a | CN¥1.74B | CN¥1.43B | CN¥1.47B | CN¥1.81B |
| Net income | CN¥583M | CN¥399M | CN¥220M | -CN¥35.8M | CN¥1.05B |
| Free cash flow | -CN¥384M | -CN¥133M | -CN¥1.24B | -CN¥778M | -CN¥1.32B |
| Capital expenditure | CN¥1.56B | CN¥1.63B | CN¥1.68B | CN¥1.10B | CN¥1.54B |
| Total debt | CN¥10.5B | CN¥9.76B | CN¥7.23B | CN¥7.61B | CN¥6.51B |
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 |
|---|---|---|---|---|---|---|
| Hangzhou Silan Microelectronics 600460.SS | $5.93B | -18% | +12% | 2% | 41.1× | n/a |
| Wuxi NCE Power 605111.SS | $2.45B | -3% | +28% | 19% | 30.4× | 27.2% |
| StarPower Semiconductor 603290.SS | $2.50B | -33% | +4% | 1% | 76.8× | 26.3% |
| Infineon Technologies IFX.DE | $66.8B | -33% | +6% | 13% | 26.0× | 30.2% |
| ON Semiconductor ON | $24.6B | -39% | +3% | 19% | 14.3× | 20.0% |
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 | 600460.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.8% | -20.9% | 10th highest of 21 |
| 6-month return | -17.8% | -25.5% | 10th highest of 20 |
| Distance from 52-week high | -58.4% | -51.5% | 6th lowest of 21 |
| Revenue growth (TTM) | +11.8% | +29.1% | 5th lowest of 21 |
| Operating margin | 1.9% | 17.5% | 6th lowest of 21 |
| Forward P/E | 41.1× | 43.3× | 9th cheapest of 17 |
| ROIC minus cost of capital | -6.0 pp | -2.9 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hangzhou Silan Microelectronics 600460.SS | China | $5.93B | -18% | +12% | 2% | 41.1× | n/a | n/a |
| Yangzhou Yangjie Electronic Technology 300373.SZ | China | $5.99B | -3% | +29% | 18% | 22.4× | 18.1% | +22.3% |
| Beijing YanDong MicroElectronic 688172.SS | China | $5.86B | -26% | +22% | -89% | 63.3× | n/a | n/a |
| Amlogic (Shanghai) 688099.SS | China | $5.84B | -13% | +39% | 17% | 22.4× | n/a | n/a |
| Shanghai Biren Technology 6082.HK | Hong Kong | $6.03B | -67% | +542% | -47% | n/a | n/a | n/a |
| Shanghai Iluvatar CoreX Semiconductor 9903.HK | Hong Kong | $6.06B | -6% | +158% | -65% | n/a | n/a | n/a |
| SG Micro 3661.HK | Hong Kong | $5.78B | n/a | +54% | 17% | 38.7× | 3.4% | +25.8% |
| Henan Shijia Photons Technology 688313.SS | China | $5.72B | -36% | +73% | 22% | 47.9× | n/a | n/a |
| Cirrus Logic CRUS | United States | $5.69B | -34% | +6% | 23% | 16.9× | 1.5% | +7.8% |
| TCL Zhonghuan Renewable Energy Technology 002129.SZ | China | $5.68B | +9% | +13% | -27% | n/a | n/a | n/a |
| Espressif Systems (Shanghai) 688018.SS | China | $5.61B | +30% | +23% | 19% | 48.8× | 36.0% | +25.3% |
| GRINM Semiconductor Materials 688432.SS | China | $6.34B | +131% | +36% | 19% | 161.4× | n/a | n/a |
| FormFactor FORM | United States | $6.36B | -45% | +29% | 21% | 19.7× | 22.4% | +2.5% |
| Unigroup Guoxin Microelectronics 002049.SZ | China | $6.37B | -35% | -1% | 18% | 25.5× | 24.4% | +13.5% |
| Silicon Motion Technology Corporation Sponsored ADR SIMO | United States | $5.52B | -36% | +104% | 21% | 8.4× | n/a | n/a |
| Sigmastar Technology 301536.SZ | China | $5.41B | +4% | +99% | 31% | n/a | 19.6% | +20.0% |
| GalaxyCore 688728.SS | China | $5.41B | +1% | +16% | 3% | 86.7× | 28.8% | +3.8% |
| Hubei Feilihua Quartz Glass 300395.SZ | China | $5.35B | -38% | +50% | 24% | 52.7× | n/a | n/a |
| Impinj PI | United States | $5.28B | +12% | +8% | -1% | 62.6× | 47.2% | +21.1% |
| Allegro MicroSystems ALGM | United States | $5.25B | -42% | +28% | 9% | 22.1× | 45.3% | +8.5% |
| Suzhou Maxwell Technologies 300751.SZ | China | $6.72B | -33% | -26% | 6% | 72.0× | 47.7% | +29.0% |