Chinese optoelectronics/LED maker; specific product line not established from available knowledge.
Chinese optoelectronics/LED maker; specific product line not established from available knowledge.
Moat: none
Headquarters: China · Employees: 606
Size Aurora Optoelectronics (600666.SS) is a China Information Technology company (Electronic Production Equipment) with a market value of $1.22B, the 1944th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥2.95 on 6 Nov 2026.
Performance Over six months the shares fell 43.7%, against -23.4% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue grew 44.4% over the last twelve months (peer median +11.6%); the operating margin is -15.0% (peer median 5.9%).
Valuation It trades at 13.6× enterprise value to sales against a peer median of 4.8× (2nd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 35% a year for seven years (Req g). Recent delivered growth is -2%, so the hurdle is +37 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 1.0 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥604M | CN¥464M | CN¥366M | CN¥319M | CN¥522M |
| Revenue growth | — | +27% | +15% | -39% | — |
| Gross profit | CN¥247M | CN¥42.6M | CN¥16.4M | -CN¥62.6M | -CN¥35.5M |
| EBITDA | n/a | CN¥104M | CN¥62.8M | -CN¥383M | -CN¥143M |
| Net income | -CN¥150M | CN¥141M | -CN¥171M | -CN¥675M | CN¥60.5M |
| Free cash flow | CN¥2.19M | -CN¥19.4M | -CN¥241M | -CN¥796M | CN¥9.02M |
| Capital expenditure | CN¥204M | CN¥53.5M | CN¥170M | CN¥453M | CN¥7.51M |
| Total debt | CN¥497M | CN¥657M | CN¥85.9M | CN¥48.0M | CN¥311M |
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| Measure | 600666.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.0% | -24.3% | 5th highest of 21 |
| 6-month return | -43.7% | -23.4% | 7th lowest of 20 |
| Distance from 52-week high | -61.0% | -51.0% | 7th lowest of 21 |
| Revenue growth (TTM) | +44.4% | +11.6% | 4th highest of 21 |
| Operating margin | -15.0% | 5.9% | 3rd lowest of 21 |
| EV / Sales | 13.6× | 4.8× | 2nd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 35.2% | 17.5% | 3rd most demanding of 10 |
| Growth delivered (Del g) | -1.9% | +8.4% | 2nd lowest of 10 |
| Hurdle (Req g minus delivered) | +37.0 pp | +5.5 pp | most demanding of 10 |
| ROIC minus cost of capital | -1.0 pp | -5.6 pp | 6th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Aurora Optoelectronics 600666.SS | China | $1.22B | -44% | +44% | -15% | 13.6× | 35.2% | -1.9% |
| Fuman Microelectronics 300671.SZ | China | $1.21B | -22% | +71% | 3% | 6.4× | n/a | n/a |
| WindSun Science & Technology 688663.SS | China | $1.23B | -14% | -9% | 3% | 4.2× | 48.5% | +18.9% |
| Shenzhen Fenda Technology 002681.SZ | China | $1.19B | -15% | +7% | -1% | 3.0× | 27.1% | -5.2% |
| Dongjin Semichem 005290.KS | South Korea | $1.18B | -44% | -4% | 16% | 1.2× | -4.4% | +5.0% |
| Maxvision Technology 002990.SZ | China | $1.26B | -39% | +36% | 14% | 6.6× | n/a | n/a |
| Shenzhen Hui Chuang Da Technology 300909.SZ | China | $1.26B | +4% | +3% | 2% | 5.6× | n/a | n/a |
| Grand Process Technology 3131.TWO | Taiwan | $1.27B | -51% | +38% | 22% | 5.5× | 13.0% | +21.2% |
| TXC 3042.TW | Taiwan | $1.28B | -26% | +9% | 17% | 2.9× | 10.7% | +3.9% |
| Guangdong Suqun New Material 301489.SZ | China | $1.16B | -54% | +24% | 8% | 6.7× | n/a | n/a |
| Doosan Fuel Cell 336260.KS | South Korea | $1.33B | -56% | -19% | -31% | 3.8× | n/a | n/a |
| Dongguan Tarry Electronics 300976.SZ | China | $1.33B | +4% | +19% | 9% | 2.2× | 17.5% | +27.2% |
| Shenzhen Success Electronics 002289.SZ | China | $1.33B | -9% | +237% | 27% | 11.9× | 24.4% | +18.8% |
| Harbin Xinguang Optic-Electronics Technology 688011.SS | China | $1.11B | +17% | +14% | -42% | 42.7× | n/a | n/a |
| TPV Technology 000727.SZ | China | $1.38B | -23% | +7% | -1% | 0.5× | n/a | n/a |
| Shenzhen AV-Display 300939.SZ | China | $1.07B | +54% | +5% | 3% | 5.0× | n/a | n/a |
| TKD Science and Technology 603738.SS | China | $1.39B | -37% | +20% | 9% | 8.3× | 44.4% | +8.4% |
| Nolato NOLA-B.ST | Sweden | $1.40B | +5% | 0% | 10% | 1.4× | 3.9% | +0.2% |
| I-Chiun Precision Industry 2486.TW | Taiwan | $1.05B | -53% | +25% | 7% | 4.6× | n/a | n/a |
| Suzhou K-Hiragawa Electronic Technology 603052.SS | China | $1.03B | -55% | +7% | -10% | 7.3× | n/a | n/a |
| Suzhou Betely Polymer Materials 301697.SZ | China | $1.44B | n/a | +45% | 5% | 2.6× | n/a | n/a |