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Chinese maker of endoscopy accessories — biopsy forceps, stents and snares — used with gastrointestinal endoscopes.
Chinese maker of endoscopy accessories — biopsy forceps, stents and snares — used with gastrointestinal endoscopes.
Its accessories are single-use, so revenue repeats with every procedure instead of resting on one-off equipment sales. A large part of sales goes overseas, mostly through local distributors and large device makers that resell the products.
In one line: A Chinese endoscopy-accessories supplier akin to a Boston Scientific Endoscopy niche.
Moat: narrow (regulatory licence, distribution). Broad global distribution network and device approvals across many markets.
Headquarters: Nanjing, Jiangsu, China · Founded: 1999 · Employees: 2,433
Size Micro-Tech (Nanjing) (688029.SS) is a China Health Care company (Medical Specialties) with a market value of $2.46B, the 1045th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥87.28 on 6 Nov 2026.
Performance Over six months the shares gained 2.7%, against -0.6% for the median peer and -16.4% for the China market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 6.3% over the last twelve months (peer median +8.9%); the operating margin is 18.5% (peer median 10.9%).
Valuation It trades at 29.0× forward earnings against a peer median of 34.0× (10th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.6 points above its cost of capital (7.9% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.32B | CN¥3.17B | CN¥2.74B | CN¥2.39B | CN¥1.97B |
| Revenue growth | — | +16% | +14% | +22% | — |
| Gross profit | CN¥2.14B | CN¥1.92B | CN¥1.77B | CN¥1.48B | CN¥1.14B |
| EBITDA | n/a | CN¥741M | CN¥702M | CN¥531M | CN¥338M |
| Net income | CN¥477M | CN¥570M | CN¥553M | CN¥486M | CN¥331M |
| Free cash flow | CN¥535M | CN¥468M | CN¥400M | CN¥360M | CN¥84.7M |
| Capital expenditure | CN¥178M | CN¥255M | CN¥270M | CN¥256M | CN¥213M |
| Total debt | CN¥322M | CN¥251M | CN¥89.0M | CN¥45.1M | CN¥11.9M |
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 |
|---|---|---|---|---|---|---|
| Micro-Tech (Nanjing) 688029.SS | $2.46B | +3% | +6% | 18% | 29.0× | 12.8% |
| Boston Scientific BSX | $62.0B | -21% | +9% | 21% | 13.8× | 5.0% |
| Olympus 7733.T | $12.2B | +13% | +8% | 16% | 18.0× | -1.5% |
| CONMED CNMD | $1.53B | +40% | +2% | 2% | 11.1× | 32.4% |
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 | 688029.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.9% | +5.6% | 9th highest of 21 |
| 6-month return | +2.7% | -0.6% | 10th highest of 21 |
| Distance from 52-week high | -3.7% | -32.4% | highest of 21 |
| Revenue growth (TTM) | +6.3% | +8.9% | 8th lowest of 21 |
| Operating margin | 18.5% | 10.9% | 6th highest of 21 |
| Forward P/E | 29.0× | 34.0× | 10th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 12.8% | 13.6% | 7th least demanding of 15 |
| Growth delivered (Del g) | +19.2% | +12.3% | 5th highest of 15 |
| Hurdle (Req g minus delivered) | -6.4 pp | +0.0 pp | 6th least demanding of 15 |
| ROIC minus cost of capital | +8.6 pp | -0.6 pp | 6th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Micro-Tech (Nanjing) 688029.SS | China | $2.46B | +3% | +6% | 18% | 29.0× | 12.8% | +19.2% |
| Jafron Biomedical 300529.SZ | China | $2.46B | +8% | +1% | 37% | 25.4× | 6.9% | +0.6% |
| EBOS EBO.AX | Australia | $2.52B | +1% | +3% | 3% | 15.2× | 4.3% | +6.8% |
| Elekta EKTA-B.ST | Sweden | $2.37B | +8% | -7% | 6% | 15.1× | 10.0% | +4.0% |
| Double Medical Technology 002901.SZ | China | $2.56B | -3% | +13% | 26% | 25.9× | 8.3% | +10.4% |
| Neogen NEOG | United States | $2.57B | +30% | 0% | 0% | 34.6× | n/a | n/a |
| Medacta MOVE.SW | Switzerland | $2.61B | -21% | +8% | 15% | 24.3× | n/a | n/a |
| Shanghai Conant Optical 2276.HK | Hong Kong | $2.27B | -27% | +8% | 29% | 22.1× | -1.6% | +14.1% |
| Metall Zug METN.SW | Switzerland | $2.25B | +19% | 0% | -10% | 139.2× | n/a | n/a |
| Bonesupport BONEX.ST | Sweden | $2.16B | +34% | +25% | 25% | 61.9× | 13.3% | +45.4% |
| COMET COTN.SW | Switzerland | $2.84B | -9% | -3% | 6% | 34.0× | n/a | n/a |
| iRhythm IRTC | United States | $2.97B | -25% | +26% | 1% | 182.6× | n/a | n/a |
| AtriCure ATRC | United States | $2.98B | +123% | +14% | 3% | 220.7× | 55.7% | +20.9% |
| Axogen AXGN | United States | $2.99B | +19% | +24% | -5% | 76.5× | 48.8% | +14.9% |
| Establishment Labs ESTA | United States | $2.00B | -7% | +38% | -7% | n/a | n/a | n/a |
| TransMedics TMDX | United States | $3.06B | +30% | +26% | 12% | 48.5× | 35.6% | +88.2% |
| JEOL 6951.T | Japan | $1.98B | -3% | -18% | 11% | 14.2× | 21.3% | +10.2% |
| Shandong Weigao Group Medical Polymer 1066.HK | Hong Kong | $1.96B | -4% | +7% | 14% | 8.8× | -11.8% | +2.1% |
| Mehow Innovative 301363.SZ | China | $1.95B | -14% | +10% | 21% | 38.8× | 18.9% | +12.9% |
| Veracyte VCYT | United States | $1.94B | -40% | +17% | 17% | 14.9× | 15.1% | +34.5% |
| SKAN SKAN.SW | Switzerland | $1.92B | +49% | +9% | 11% | 49.8× | 13.8% | +11.7% |