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Taiwanese maker of ceramic substrates and packaging materials for LEDs and power semiconductors, with some IC assembly services.
Taiwanese maker of ceramic substrates and packaging materials for LEDs and power semiconductors, with some IC assembly services.
In one line: A niche ceramics-and-packaging supplier to the power/LED semiconductor industry.
Moat: narrow (process know-how). Specialized ceramic-substrate manufacturing process feeding into power/LED semiconductor packaging.
Headquarters: Hsinchu, Taiwan
Size Tong Hsing Electronic Industries ,Ltd (6271.TW) is a Taiwan Information Technology company (Electronic Components) with a market value of $1.06B, the 263rd largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$168.50 on 6 Nov 2026.
Performance Over six months the shares fell 5.1%, against -23.6% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 4.9% over the last twelve months (peer median +24.4%); the operating margin is 17.0% (peer median 7.4%).
Valuation It trades at 13.5× forward earnings against a peer median of 33.5× (2nd cheapest of 9).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +5 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 2.8 points below its cost of capital (9.8% WACC).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NT$12.3B | NT$11.5B | NT$12.1B | NT$11.6B | NT$14.1B |
| Revenue growth | — | -5% | +4% | -18% | — |
| Gross profit | NT$3.37B | NT$2.80B | NT$2.98B | NT$2.59B | NT$4.83B |
| EBITDA | NT$3.35B | NT$2.98B | NT$3.48B | NT$2.84B | NT$5.12B |
| Net income | NT$2.14B | NT$1.60B | NT$1.71B | NT$1.15B | NT$3.14B |
| Free cash flow | NT$2.62B | NT$1.51B | NT$2.25B | -NT$154M | NT$1.18B |
| Capital expenditure | NT$710M | NT$1.48B | NT$1.32B | NT$2.80B | NT$3.41B |
| Total debt | NT$4.22B | NT$4.14B | NT$5.19B | NT$5.38B | NT$5.32B |
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 |
|---|---|---|---|---|---|---|
| Tong Hsing Electronic Industries ,Ltd 6271.TW | $1.06B | -5% | +5% | 17% | 13.5× | 7.6% |
| Ase Technology 3711.TW | $70.4B | +2% | +25% | 11% | 17.3× | n/a |
| Kyocera 6971.T | $23.4B | +3% | +7% | 6% | 22.5× | 21.3% |
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 | 6271.TW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -29.4% | -16.3% | 7th lowest of 21 |
| 6-month return | -5.1% | -23.6% | 7th highest of 21 |
| Distance from 52-week high | -44.2% | -47.2% | 10th highest of 21 |
| Revenue growth (TTM) | +4.9% | +24.4% | 2nd lowest of 21 |
| Operating margin | 17.0% | 7.4% | 4th highest of 21 |
| Forward P/E | 13.5× | 33.5× | 2nd cheapest of 9 |
| Growth the price implies (Req g, 7 yrs) | 7.6% | 31.2% | least demanding of 8 |
| Growth delivered (Del g) | +2.6% | +11.2% | 2nd lowest of 8 |
| Hurdle (Req g minus delivered) | +5.0 pp | +4.4 pp | 4th most demanding of 8 |
| ROIC minus cost of capital | -2.8 pp | -2.1 pp | 9th lowest of 21 |
| EV / EBITDA | 9.3× | 23.6× | 2nd cheapest of 6 |
| Net debt / EBITDA | -1.2× | -0.4× | 4th least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tong Hsing Electronic Industries ,Ltd 6271.TW | Taiwan | $1.06B | -5% | +5% | 17% | 13.5× | 7.6% | +2.6% |
| Changzhou Aohong Electronics 605058.SS | China | $1.08B | +46% | +21% | 15% | n/a | 8.1% | +8.9% |
| Gosuncn Technology 300098.SZ | China | $1.04B | -27% | +20% | -3% | 50.1× | 33.2% | -3.1% |
| Sungho Electronics 043260.KS | South Korea | $1.04B | -54% | +44% | 4% | n/a | n/a | n/a |
| Korea Circuit 007810.KS | South Korea | $1.09B | -36% | +21% | 6% | 15.1× | n/a | n/a |
| Nichidenbo 3090.TW | Taiwan | $1.09B | +15% | +28% | -5% | 12.0× | 57.2% | +11.2% |
| Goode EIS (Suzhou) 301680.SZ | China | $1.09B | -16% | +68% | 18% | n/a | n/a | n/a |
| Shenzhen SEG 000058.SZ | China | $1.02B | -20% | -1% | 9% | n/a | 9.7% | +5.3% |
| Shenzhen United Winners Laser 688518.SS | China | $1.12B | -23% | +23% | 5% | 22.5× | 31.2% | +30.1% |
| Browave 3163.TWO | Taiwan | $1.13B | -62% | +21% | 4% | 66.3× | n/a | n/a |
| Shenzhen Edadoc Technology 301366.SZ | China | $1.13B | +18% | +51% | 12% | n/a | n/a | n/a |
| WCON Electronics 301328.SZ | China | $986M | -3% | +34% | 16% | 44.6× | n/a | n/a |
| Zhejiang Zuch Technology 301280.SZ | China | $971M | -24% | +25% | 13% | 21.3× | n/a | n/a |
| Officina Stellare OS.MI | Italy | $969M | +47% | +239% | -11% | 107.2× | n/a | n/a |
| Guangdong Cellwise Microelectronics 688325.SS | China | $1.18B | -24% | +18% | 7% | n/a | n/a | n/a |
| Sihui Fuji Electronics Technology 300852.SZ | China | $1.18B | +8% | +48% | 13% | n/a | n/a | n/a |
| Bomin Electronics 603936.SS | China | $1.18B | -21% | +19% | 1% | n/a | n/a | n/a |
| Juneway Electronic Technology 301458.SZ | China | $946M | -25% | +24% | 20% | n/a | 36.2% | +13.7% |
| Bellwether Electronic 7861.TWO | Taiwan | $1.20B | -31% | +113% | 30% | n/a | 17.8% | +53.7% |
| Kingsignal Technology 300252.SZ | China | $941M | -38% | +21% | 0% | n/a | n/a | n/a |
| HannStar Board 5469.TW | Taiwan | $937M | -25% | +32% | 8% | n/a | n/a | n/a |