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OSAT specializing in wafer-level chip-scale packaging (WLCSP) for image sensors and analog/power chips.
OSAT specializing in wafer-level chip-scale packaging (WLCSP) for image sensors and analog/power chips.
In one line: A small Chinese OSAT niche player, in the WLCSP packaging space alongside ASE/Amkor.
Moat: narrow (process know-how, customer qualification). Specialized WLCSP process qualified with CIS/analog customers, but competes with larger global OSATs.
Headquarters: Shanghai, China · Employees: 1,088
Size China Wafer Level CSP (603005.SS) is a China Information Technology company (Semiconductors) with a market value of $2.10B, the 1206th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥21.50 on 6 Nov 2026.
Performance Over six months the shares fell 30.9%, against -34.7% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 7.5% over the last twelve months (peer median +12.9%); the operating margin is 22.8% (peer median 3.9%).
Valuation It trades at 28.7× forward earnings against a peer median of 38.1× (8th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +22 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 0.2 points above its cost of capital (13.1% WACC).
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.47B | CN¥1.47B | CN¥1.12B | CN¥904M | CN¥1.09B |
| Revenue growth | — | +31% | +24% | -17% | — |
| Gross profit | CN¥745M | CN¥661M | CN¥443M | CN¥305M | CN¥443M |
| EBITDA | n/a | CN¥521M | CN¥340M | CN¥279M | CN¥319M |
| Net income | CN¥299M | CN¥370M | CN¥253M | CN¥150M | CN¥228M |
| Free cash flow | CN¥292M | -CN¥15.1M | CN¥310M | CN¥149M | CN¥319M |
| Capital expenditure | CN¥218M | CN¥552M | CN¥140M | CN¥211M | CN¥125M |
| Total debt | CN¥315M | CN¥188M | CN¥106M | CN¥347M | CN¥168M |
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 |
|---|---|---|---|---|---|---|
| China Wafer Level CSP 603005.SS | $2.10B | -31% | +7% | 23% | 28.7× | 28.3% |
| JCET 600584.SS | $14.1B | +15% | +4% | 6% | 40.2× | n/a |
| Tianshui Huatian Technology 002185.SZ | $7.74B | +10% | +33% | 4% | 45.0× | n/a |
| Ase Technology 3711.TW | $70.4B | +2% | +25% | 11% | 17.3× | n/a |
| Amkor Technology AMKR | $8.13B | -57% | +16% | 10% | 12.1× | 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 | 603005.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.7% | -20.9% | 7th highest of 21 |
| 6-month return | -30.9% | -34.7% | 9th highest of 21 |
| Distance from 52-week high | -61.1% | -56.9% | 7th lowest of 21 |
| Revenue growth (TTM) | +7.5% | +12.9% | 7th lowest of 21 |
| Operating margin | 22.8% | 3.9% | 4th highest of 21 |
| Forward P/E | 28.7× | 38.1× | 8th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 28.3% | 35.2% | 4th least demanding of 11 |
| Growth delivered (Del g) | +6.2% | +20.0% | 4th lowest of 11 |
| Hurdle (Req g minus delivered) | +22.1 pp | +16.5 pp | 3rd most demanding of 11 |
| ROIC minus cost of capital | +0.2 pp | -6.6 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Wafer Level CSP 603005.SS | China | $2.10B | -31% | +7% | 23% | 28.7× | 28.3% | +6.2% |
| Beijing BDStar Navigation 002151.SZ | China | $2.10B | -36% | +35% | -14% | n/a | n/a | n/a |
| Micronics Japan 6871.T | Japan | $2.11B | -33% | +38% | 28% | 14.1× | n/a | n/a |
| Ferrotec 6890.T | Japan | $2.08B | -19% | +43% | 12% | 8.3× | n/a | n/a |
| Elmos Semiconductor ELG.DE | Germany | $2.13B | -36% | +9% | 20% | 16.2× | 12.9% | +20.2% |
| Shanghai Belling Corp.,Ltd 600171.SS | China | $2.14B | -30% | +11% | 4% | n/a | 39.4% | +19.1% |
| Union Semiconductor (Hefei) 688403.SS | China | $2.15B | -14% | +13% | 3% | 56.1× | n/a | n/a |
| Guangdong Tianyu Semiconductor 2658.HK | Hong Kong | $2.17B | -3% | +52% | -30% | 59.4× | n/a | n/a |
| nLIGHT LASR | United States | $2.19B | +72% | +43% | -5% | 61.8× | 39.2% | +3.2% |
| Wuxi Taclink Optoelectronics Technology 688205.SS | China | $2.20B | -62% | +20% | 3% | 180.7× | n/a | n/a |
| Xiamen UX IC 688807.SS | China | $2.22B | -48% | +26% | 13% | 144.5× | n/a | n/a |
| Ennostar 3714.TW | Taiwan | $2.23B | -23% | -5% | -13% | n/a | n/a | n/a |
| POWI POWI | United States | $2.25B | -45% | +2% | 8% | 22.9× | 35.9% | -1.9% |
| GCL System Integration Technology 002506.SZ | China | $2.26B | -39% | -32% | -10% | n/a | 31.8% | +20.8% |
| Southchip Semiconductor Technology (Shanghai) 688484.SS | China | $1.95B | -21% | +9% | -2% | 882.8× | n/a | n/a |
| HPSP 403870.KS | South Korea | $1.95B | -37% | -20% | 53% | 22.1× | 15.6% | +23.1% |
| Xiamen Changelight 300102.SZ | China | $2.26B | -50% | -38% | -2% | 71.3× | 34.6% | +21.1% |
| Giantec Semiconductor 688123.SS | China | $2.27B | -23% | +13% | 22% | 23.3× | 39.2% | +19.8% |
| Hermes Testing Solutions 7856.TWO | Taiwan | $2.29B | -32% | +52% | 12% | 46.2× | 52.1% | +51.8% |
| Chunghwa Precision Test Tech 6510.TWO | Taiwan | $2.30B | -37% | +24% | 32% | 28.3× | 24.4% | +2.7% |
| Chengdu Sino-Microelectronics Tech 688709.SS | China | $1.90B | -47% | -15% | -19% | 29.9× | n/a | n/a |