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Makes IGBT power modules used in electric vehicles, renewable-energy inverters and industrial drives.
Makes IGBT power modules used in electric vehicles, renewable-energy inverters and industrial drives.
Modules are designed into specific EV and inverter platforms and qualified over a long period, after which orders follow the volumes of those vehicles and inverters. It designs its own IGBT chips and assembles them into modules in its own plants.
In one line: A smaller, China-focused Infineon/Semikron for IGBT power modules.
Moat: narrow (process know-how, customer qualification). Automotive-grade IGBT qualification takes years; a leading domestic supplier, but global leaders (Infineon) still dominate.
Headquarters: Hangzhou, China · Founded: 2005 · Employees: 3,301
Size StarPower Semiconductor (603290.SS) is a China Information Technology company (Semiconductors) with a market value of $2.50B, the 1030th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥69.71 on 6 Nov 2026.
Performance Over six months the shares fell 32.9%, against -17.1% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 3.6% over the last twelve months (peer median +27.8%); the operating margin is 0.8% (peer median 7.8%).
Valuation It trades at 76.8× forward earnings against a peer median of 26.0× (2nd most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +33%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.1 points below its cost of capital (8.8% WACC).
Next results Next results expected around 5 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.11B | CN¥4.00B | CN¥3.38B | CN¥3.66B | CN¥2.70B |
| Revenue growth | — | +18% | -8% | +36% | — |
| Gross profit | CN¥1.22B | CN¥954M | CN¥1.00B | CN¥1.34B | CN¥1.05B |
| EBITDA | n/a | CN¥798M | CN¥784M | CN¥1.06B | CN¥838M |
| Net income | CN¥118M | CN¥405M | CN¥508M | CN¥911M | CN¥818M |
| Free cash flow | CN¥58.2M | -CN¥83.7M | -CN¥1.03B | -CN¥1.80B | -CN¥606M |
| Capital expenditure | CN¥691M | CN¥688M | CN¥2.00B | CN¥2.20B | CN¥1.30B |
| Total debt | CN¥3.78B | CN¥2.08B | CN¥1.63B | CN¥1.04B | CN¥664M |
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 |
|---|---|---|---|---|---|---|
| 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% |
| Hangzhou Silan Microelectronics 600460.SS | $5.93B | -18% | +12% | 2% | 41.1× | n/a |
| Mitsubishi Electric 6503.T | $59.9B | -28% | +12% | 10% | 17.1× | 13.2% |
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 | 603290.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.6% | -21.5% | 6th highest of 21 |
| 6-month return | -32.9% | -17.1% | 6th lowest of 21 |
| Distance from 52-week high | -56.4% | -54.5% | 10th lowest of 21 |
| Revenue growth (TTM) | +3.6% | +27.8% | 3rd lowest of 21 |
| Operating margin | 0.8% | 7.8% | 5th lowest of 21 |
| Forward P/E | 76.8× | 26.0× | 2nd most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 26.3% | 6.6% | 4th most demanding of 11 |
| Growth delivered (Del g) | +33.0% | +13.2% | highest of 11 |
| Hurdle (Req g minus delivered) | -6.7 pp | -2.2 pp | 4th least demanding of 11 |
| ROIC minus cost of capital | -4.1 pp | -0.3 pp | 10th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| StarPower Semiconductor 603290.SS | China | $2.50B | -33% | +4% | 1% | 76.8× | 26.3% | +33.0% |
| PENG PENG | United States | $2.52B | -5% | +26% | 10% | 9.2× | n/a | n/a |
| OUST OUST | United States | $2.54B | +38% | +64% | -29% | n/a | n/a | n/a |
| Great Microwave Technology 688270.SS | China | $2.46B | -41% | +8% | 32% | 69.6× | 48.7% | +23.2% |
| 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 |
| Ambarella AMBA | United States | $2.58B | -23% | +20% | -15% | 66.0× | n/a | n/a |
| Asmedia Technology 5269.TW | Taiwan | $2.60B | -14% | +38% | 25% | 12.5× | 12.3% | +14.0% |
| DB HiTek 000990.KS | South Korea | $2.41B | -48% | +29% | 21% | 8.9× | 2.3% | +8.3% |
| Leeno Industrial 058470.KS | South Korea | $2.60B | -61% | +24% | 49% | 19.4× | 6.3% | +13.1% |
| Sunrun RUN | United States | $2.40B | -32% | +63% | 2% | 38.7× | n/a | n/a |
| Acter 5536.TWO | Taiwan | $2.39B | -26% | +28% | 16% | 10.0× | -6.0% | +24.3% |
| Holy Stone Enterprise 3026.TW | Taiwan | $2.39B | +91% | +17% | 2% | 21.0× | 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 |
| Topco Scientific 5434.TW | Taiwan | $2.68B | +11% | +21% | 7% | 14.3× | 3.8% | +13.3% |
| Simmtech 222800.KS | South Korea | $2.69B | +7% | +42% | 9% | 18.7× | n/a | n/a |
| NVTS NVTS | United States | $2.32B | -53% | -29% | -273% | n/a | n/a | n/a |
| Maxio Technology (Hangzhou) 688449.SS | China | $2.71B | -29% | +40% | 5% | 37.7× | n/a | n/a |
| Shanghai Bright Power Semiconductor 688368.SS | China | $2.72B | -20% | +90% | 6% | 85.4× | 54.1% | +7.3% |