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Chinese maker of tantalum and ceramic capacitors and other passive components, with a defense/aerospace-grade product line.
Chinese maker of tantalum and ceramic capacitors and other passive components, with a defense/aerospace-grade product line.
Parts for defence and aerospace programmes must be approved before they are used, and once approved tend to stay for the programme's life, so orders follow military procurement schedules and are lumpy. Tantalum capacitors suit applications where reliability matters most.
In one line: A small, passives-focused Kemet/AVX.
Moat: narrow (customer qualification, regulatory licence). Military-spec component qualification is slow to win and creates sticky, hard-to-switch supply relationships.
Headquarters: Fujian, China · Employees: 3,083
Size Fujian Torch Electron Technology (603678.SS) is a China Information Technology company (Electronic Components) with a market value of $2.16B, the 1178th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥30.39 on 6 Nov 2026.
Performance Over six months the shares fell 6.5%, against -25.6% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 81.8% over the last twelve months (peer median +23.9%); the operating margin is 4.5% (peer median 11.2%).
Valuation It trades at 26.2× forward earnings against a peer median of 28.6× (9th cheapest of 19).
Capital Return on invested capital runs 5.2 points below its cost of capital (9.4% WACC).
Next results Next results expected around 23 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.06B | CN¥4.11B | CN¥2.78B | CN¥3.48B | CN¥3.54B |
| Revenue growth | — | +48% | -20% | -2% | — |
| Gross profit | CN¥1.29B | CN¥973M | CN¥725M | CN¥938M | CN¥1.41B |
| EBITDA | n/a | CN¥643M | CN¥452M | CN¥580M | CN¥1.13B |
| Net income | CN¥290M | CN¥320M | CN¥195M | CN¥318M | CN¥801M |
| Free cash flow | -CN¥853M | -CN¥444M | CN¥332M | CN¥517M | CN¥280M |
| Capital expenditure | CN¥308M | CN¥222M | CN¥334M | CN¥355M | CN¥646M |
| Total debt | CN¥3.03B | CN¥1.95B | CN¥1.32B | CN¥1.55B | CN¥1.43B |
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 |
|---|---|---|---|---|---|---|
| Fujian Torch Electron Technology 603678.SS | $2.16B | -7% | +82% | 4% | 26.2× | n/a |
| China Zhenhua (Group) Science & Technology 000733.SZ | $2.93B | -17% | -1% | 14% | 23.3× | 4.0% |
| Guangdong Fenghua Advanced Technology (Holding) 000636.SZ | $5.42B | +26% | +36% | 8% | 45.0× | 28.6% |
| Yageo 2327.TW | $23.3B | +8% | +32% | 27% | 13.9× | 17.7% |
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 | 603678.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -27.9% | -17.6% | 8th lowest of 21 |
| 6-month return | -6.5% | -25.6% | 6th highest of 21 |
| Distance from 52-week high | -66.7% | -54.6% | 4th lowest of 21 |
| Revenue growth (TTM) | +81.8% | +23.9% | highest of 21 |
| Operating margin | 4.5% | 11.2% | 6th lowest of 21 |
| Forward P/E | 26.2× | 28.6× | 9th cheapest of 19 |
| ROIC minus cost of capital | -5.2 pp | -3.0 pp | 7th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 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 |
| Electric Connector Technology 300679.SZ | China | $2.14B | -24% | 0% | 4% | 25.1× | 27.9% | +15.8% |
| Fulltech Fiber Glass 1815.TWO | Taiwan | $2.18B | +6% | +49% | 26% | 21.6× | n/a | n/a |
| Dongguan Dingtong Precision Metal 688668.SS | China | $2.09B | -55% | +33% | 16% | 29.5× | n/a | n/a |
| Hefei Meyer Optoelectronic Technology 002690.SZ | China | $2.25B | -3% | +3% | 31% | 18.5× | 9.2% | +10.0% |
| Meiko Electronics 6787.T | Japan | $2.07B | -27% | +22% | 10% | 10.7× | n/a | n/a |
| Xiamen Hengkun New Material Technology 688727.SS | China | $2.28B | -33% | +20% | 9% | n/a | n/a | n/a |
| Xiamen Leading Optics 605118.SS | China | $2.05B | -31% | +32% | 34% | n/a | 20.4% | +14.8% |
| Jenoptik JEN.DE | Germany | $2.30B | -21% | -2% | 12% | 18.6× | 10.3% | +11.2% |
| Wuhu Token Science 300088.SZ | China | $2.03B | -18% | -15% | 0% | 31.7× | n/a | n/a |
| EZconn 6442.TW | Taiwan | $2.40B | -51% | +30% | 27% | 16.2× | 15.3% | +34.3% |
| Zhuzhou Hongda Electronics 300726.SZ | China | $2.43B | -20% | +11% | 26% | 35.2× | 27.3% | +6.1% |
| HONG RI DA Technology 301285.SZ | China | $2.50B | -22% | +14% | -13% | 424.7× | n/a | n/a |
| Aoshikang Technology 002913.SZ | China | $2.52B | +2% | +25% | 10% | 34.0× | n/a | n/a |
| Zhejiang Lante Optics 688127.SS | China | $2.56B | -45% | +59% | 31% | 27.8× | 20.5% | +28.5% |
| Optowide Technologies 688195.SS | China | $2.57B | -60% | +68% | 17% | 100.1× | n/a | n/a |
| INESA Intelligent Tech 600602.SS | China | $2.60B | -31% | -2% | 2% | 71.9× | 32.7% | +6.7% |
| Daeduck Electronics 353200.KS | South Korea | $2.61B | -37% | +56% | 16% | 15.0× | 15.3% | +11.8% |
| FIT Hon Teng 6088.HK | Hong Kong | $2.63B | -67% | +11% | 5% | 10.5× | n/a | n/a |
| Primarius Technologies 688206.SS | China | $2.63B | -2% | +30% | -9% | 331.6× | n/a | n/a |