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Ningbo-based optics/optical-components maker; specific product line not established from available knowledge.
Ningbo-based optics/optical-components maker; specific product line not established from available knowledge.
Moat: none
Headquarters: Ningbo, China · Employees: 1,365
Size Ningbo Yong Xin Optics (603297.SS) is a China Information Technology company (Electronic Components) with a market value of $1.72B, the 1441st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥104.43 on 6 Nov 2026.
Performance Over six months the shares fell 9.0%, against -23.6% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 26.9% over the last twelve months (peer median +24.0%); the operating margin is 19.1% (peer median 8.9%).
Valuation It trades at 43.1× forward earnings against a peer median of 28.6× (3rd most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 37% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is +26 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 2.4 points above its cost of capital (12.9% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.16B | CN¥959M | CN¥888M | CN¥850M | CN¥824M |
| Revenue growth | — | +8% | +4% | +3% | — |
| Gross profit | CN¥448M | CN¥363M | CN¥334M | CN¥313M | CN¥335M |
| EBITDA | n/a | CN¥230M | CN¥193M | CN¥169M | CN¥203M |
| Net income | CN¥223M | CN¥220M | CN¥209M | CN¥235M | CN¥279M |
| Free cash flow | CN¥165M | CN¥161M | CN¥140M | CN¥93.8M | CN¥96.0M |
| Capital expenditure | CN¥84.8M | CN¥74.7M | CN¥136M | CN¥158M | CN¥143M |
| Total debt | CN¥602M | CN¥232M | CN¥112M | CN¥71.2M | CN¥47.5M |
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| Measure | 603297.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.2% | -23.2% | 3rd highest of 21 |
| 6-month return | -9.0% | -23.6% | 8th highest of 21 |
| Distance from 52-week high | -32.2% | -54.0% | 4th highest of 21 |
| Revenue growth (TTM) | +26.9% | +24.0% | 10th highest of 21 |
| Operating margin | 19.1% | 8.9% | 5th highest of 21 |
| Forward P/E | 43.1× | 28.6× | 3rd most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 36.5% | 13.0% | most demanding of 10 |
| Growth delivered (Del g) | +10.8% | +12.1% | 4th lowest of 10 |
| Hurdle (Req g minus delivered) | +25.7 pp | +4.6 pp | most demanding of 10 |
| ROIC minus cost of capital | +2.4 pp | -3.8 pp | 4th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ningbo Yong Xin Optics 603297.SS | China | $1.72B | -9% | +27% | 19% | 43.1× | 36.5% | +10.8% |
| Changshu Tianyin Electromechanical 300342.SZ | China | $1.72B | -60% | -6% | 1% | n/a | n/a | n/a |
| Chengdu Hongming Electronics 301682.SZ | China | $1.74B | -24% | +4% | 19% | n/a | 13.0% | -6.2% |
| Hubei DOTI Micro Technology 301183.SZ | China | $1.67B | -23% | +30% | 18% | 44.7× | n/a | n/a |
| Shanghai Xizhi Technology 1879.HK | Hong Kong | $1.66B | -84% | +77% | -648% | n/a | n/a | n/a |
| ATOSS Software AOF.DE | Germany | $1.59B | +26% | +12% | 37% | 26.2× | 14.0% | +17.1% |
| Shenzhen Colibri Technologies 002957.SZ | China | $1.57B | -43% | +31% | 9% | 28.6× | n/a | n/a |
| Ennoconn 6414.TW | Taiwan | $1.54B | -6% | +8% | 6% | 11.7× | -6.8% | +11.1% |
| YD Electronic Technology 301123.SZ | China | $1.50B | -37% | +44% | -3% | 33.9× | n/a | n/a |
| Guangdong Ellington Electronics Technology 603328.SS | China | $1.49B | -13% | +14% | 10% | n/a | 8.9% | +9.3% |
| Wuhu Token Science 300088.SZ | China | $2.03B | -18% | -15% | 0% | 31.7× | n/a | n/a |
| Guangdong Goworld 000823.SZ | China | $1.45B | +9% | +13% | 8% | n/a | 8.8% | +4.2% |
| Xiamen Leading Optics 605118.SS | China | $2.05B | -31% | +32% | 34% | n/a | 20.4% | +14.8% |
| Meiko Electronics 6787.T | Japan | $2.07B | -27% | +22% | 10% | 10.7× | n/a | n/a |
| Dongguan Dingtong Precision Metal 688668.SS | China | $2.09B | -55% | +33% | 16% | 29.5× | n/a | n/a |
| Jiangxi Welgao Electronics 301251.SZ | China | $1.39B | +9% | +62% | 9% | n/a | n/a | n/a |
| Electric Connector Technology 300679.SZ | China | $2.14B | -24% | 0% | 4% | 25.1× | 27.9% | +15.8% |
| Cembre CMB.MI | Italy | $1.37B | -24% | +11% | 26% | 22.1× | 12.8% | +12.2% |
| NCAB NCAB.ST | Sweden | $1.37B | 0% | +25% | 11% | 30.1× | 19.2% | +12.1% |
| Fujian Torch Electron Technology 603678.SS | China | $2.16B | -7% | +82% | 4% | 26.2× | n/a | n/a |
| Shenglan Technology 300843.SZ | China | $2.16B | +2% | +45% | 8% | 66.5× | n/a | n/a |