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Jiangxi-based PCB maker producing HDI boards, flexible circuits and IC substrates for consumer, automotive and communications electronics.
Jiangxi-based PCB maker producing HDI boards, flexible circuits and IC substrates for consumer, automotive and communications electronics.
In one line: A smaller, export-oriented Chinese PCB maker.
Moat: none (process know-how). Fragmented, price-competitive PCB manufacturing with export reach but no clear technology moat.
Headquarters: Ji'an, China · Founded: 2005 · Employees: 5,737
Size Jiangxi Redboard Technology (603459.SS) is a China Information Technology company (Electronic Components) with a market value of $6.70B, the 368th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥59.25 on 6 Nov 2026.
Performance Over six months the shares fell 4.0%, against -14.7% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 36.1% over the last twelve months (peer median +23.2%); the operating margin is 17.2% (peer median 10.1%).
Valuation It trades at 12.4× enterprise value to sales against a peer median of 4.7× (3rd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 53% a year for seven years (Req g). Recent delivered growth is +36%, so the hurdle is +17 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 9.8 points below its cost of capital (18.0% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | n/a | CN¥3.68B | CN¥2.70B | CN¥2.34B |
| Revenue growth | — | +36% | +16% | — |
| Gross profit | n/a | CN¥943M | CN¥489M | CN¥347M |
| EBITDA | n/a | CN¥915M | CN¥486M | CN¥340M |
| Net income | n/a | CN¥540M | CN¥214M | CN¥105M |
| Free cash flow | n/a | CN¥1.14B | CN¥1.00B | CN¥1.25B |
| Capital expenditure | n/a | CN¥959M | CN¥405M | CN¥340M |
| Total debt | CN¥1.76B | CN¥1.37B | CN¥929M | CN¥777M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Jiangxi Redboard Technology 603459.SS | $6.70B | -4% | +36% | 17% | 12.4× | 53.4% |
| Shennan Circuit 002916.SZ | $20.4B | -36% | +51% | 18% | 4.5× | n/a |
| Victory Giant Technology (HuiZhou) 300476.SZ | $18.3B | -62% | +38% | 26% | 5.2× | n/a |
| Zhen Ding Technology Holding Lt 4958.TW | $12.8B | -12% | +5% | 9% | 2.3× | 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 | 603459.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.1% | -33.1% | 6th highest of 21 |
| 6-month return | -4.0% | -14.7% | 6th highest of 20 |
| Distance from 52-week high | -51.5% | -50.1% | 10th lowest of 21 |
| Revenue growth (TTM) | +36.1% | +23.2% | 9th highest of 21 |
| Operating margin | 17.2% | 10.1% | 8th highest of 21 |
| EV / Sales | 12.4× | 4.7× | 3rd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 53.4% | 24.1% | most demanding of 8 |
| Growth delivered (Del g) | +36.1% | +4.7% | highest of 8 |
| Hurdle (Req g minus delivered) | +17.3 pp | +17.5 pp | 4th least demanding of 8 |
| ROIC minus cost of capital | -9.8 pp | -1.8 pp | 3rd lowest of 21 |
| EV / EBITDA | 49.9× | 13.0× | most expensive of 10 |
| Net debt / EBITDA | 1.0× | -1.0× | 2nd most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jiangxi Redboard Technology 603459.SS | China | $6.70B | -4% | +36% | 17% | 12.4× | 53.4% | +36.1% |
| Orbbec 688322.SS | China | $6.73B | +37% | +1% | 0% | 46.6× | n/a | n/a |
| VICR VICR | United States | $6.78B | -43% | +41% | 25% | 11.2× | 46.0% | +6.6% |
| Tripod Technology 3044.TW | Taiwan | $6.57B | -15% | +21% | 19% | 2.3× | n/a | n/a |
| Shenzhen Fastprint Circuit Tech 002436.SZ | China | $6.54B | -7% | +26% | 6% | 5.8× | n/a | n/a |
| Advanced Fiber Resources Zhuhai 300620.SZ | China | $6.50B | -27% | +86% | 18% | 18.7× | n/a | n/a |
| TTM Technologies TTMI | United States | $7.01B | -58% | +38% | 12% | 2.1× | 24.1% | +6.7% |
| Shenzhen Everwin Precision Technology 300115.SZ | China | $5.95B | -12% | +19% | 2% | 2.2× | n/a | n/a |
| Compeq Manufacturing 2313.TW | Taiwan | $5.93B | -42% | +8% | 11% | 2.4× | 14.6% | +4.7% |
| Founder Technology 600601.SS | China | $5.70B | -27% | +73% | 19% | 5.0× | n/a | n/a |
| Shenzhen Kinwong Electronic 3228.HK | Hong Kong | $7.87B | n/a | +40% | 12% | 2.9× | n/a | n/a |
| Shengyi Electronics 688183.SS | China | $7.95B | -44% | +46% | 21% | 4.4× | n/a | n/a |
| Taiyo Yuden 6976.T | Japan | $5.63B | +4% | +6% | 6% | 2.6× | 47.0% | +3.4% |
| Taiwan Union Technology 6274.TWO | Taiwan | $8.21B | -26% | +87% | 23% | 5.3× | n/a | n/a |
| ITEQ 6213.TW | Taiwan | $5.45B | +75% | +16% | 9% | 4.9× | n/a | n/a |
| Lotes 3533.TW | Taiwan | $5.39B | -36% | +13% | 28% | 4.5× | 1.9% | +14.3% |
| Dynamic Electronics 603175.SS | China | $5.37B | -15% | +15% | 5% | 6.5× | n/a | n/a |
| Innolux 3481.TW | Taiwan | $8.71B | +32% | +11% | 0% | 1.0× | 37.3% | -3.4% |
| Sunny Optical 2382.HK | Hong Kong | $8.92B | -3% | +20% | 8% | 1.2× | 4.9% | +1.9% |
| Sichuan Huafeng Technology 688629.SS | China | $4.85B | -49% | +46% | 9% | 11.0× | n/a | n/a |
| Wuhan Jingce Electronic 300567.SZ | China | $4.80B | -14% | +31% | 0% | 9.4× | n/a | n/a |