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Maker of semiconductor coating/developing and cleaning equipment used in the photolithography process of chipmaking.
Maker of semiconductor coating/developing and cleaning equipment used in the photolithography process of chipmaking.
Sells tools by the machine to chipmakers and advanced-packaging plants, so revenue follows customers' purchases of equipment for new lines. It competes against Tokyo Electron, which dominates coater-developer tools globally, and gains when Chinese buyers choose domestic equipment.
Moat: narrow (customer qualification, process know-how). One of few qualified domestic suppliers of coat/develop tools amid equipment localisation.
Headquarters: Shenyang, China · Founded: 2008 · Employees: 1,794
Size KINGSEMI (688037.SS) is a China Industrials company (Industrial Machinery) with a market value of $6.56B, the 373rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥216.55 on 6 Nov 2026.
Performance Over six months the shares fell 6.7%, against -3.7% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 19 in its peer set.
Growth Revenue grew 40.9% over the last twelve months (peer median +14.4%); the operating margin is -4.8% (peer median 14.0%).
Valuation It trades at 264.1× forward earnings against a peer median of 20.9× (most expensive of 21).
Capital Return on invested capital runs 14.1 points below its cost of capital (13.3% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.28B | CN¥1.94B | CN¥1.74B | CN¥1.70B | CN¥1.37B |
| Revenue growth | — | +11% | +2% | +24% | — |
| Gross profit | CN¥771M | CN¥614M | CN¥586M | CN¥615M | CN¥501M |
| EBITDA | n/a | CN¥7.28M | CN¥55.5M | CN¥209M | CN¥147M |
| Net income | CN¥26.8M | CN¥71.7M | CN¥203M | CN¥251M | CN¥200M |
| Free cash flow | -CN¥228M | -CN¥93.5M | CN¥228M | -CN¥1.03B | -CN¥3.16M |
| Capital expenditure | CN¥117M | CN¥201M | CN¥224M | CN¥476M | CN¥207M |
| Total debt | CN¥1.95B | CN¥2.04B | CN¥1.62B | CN¥1.14B | CN¥426M |
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 |
|---|---|---|---|---|---|---|
| KINGSEMI 688037.SS | $6.56B | -7% | +41% | -5% | 264.1× | n/a |
| Tokyo Electron 8035.T | $122B | +41% | +18% | 28% | 23.1× | 28.8% |
| ACM Research (Shanghai) 688082.SS | $14.6B | +30% | +9% | 15% | 54.1× | n/a |
| NAURA Technology 002371.SZ | $60.6B | +4% | +18% | 11% | 56.5× | 33.4% |
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 | 688037.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -30.5% | -8.2% | 4th lowest of 21 |
| 6-month return | -6.7% | -3.7% | 9th lowest of 19 |
| Distance from 52-week high | -52.9% | -23.7% | 4th lowest of 21 |
| Revenue growth (TTM) | +40.9% | +14.4% | 3rd highest of 21 |
| Operating margin | -4.8% | 14.0% | lowest of 21 |
| Forward P/E | 264.1× | 20.9× | most expensive of 21 |
| ROIC minus cost of capital | -14.1 pp | +2.6 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| KINGSEMI 688037.SS | China | $6.56B | -7% | +41% | -5% | 264.1× | n/a | n/a |
| JBT Marel JBTM | United States | $6.66B | -8% | +20% | 10% | 14.2× | 12.7% | +17.0% |
| INDO-MIM INDOMIM.NS | India | $6.39B | n/a | +26% | 20% | 60.8× | 30.3% | +15.8% |
| Robotechnik Intelligent Technology 3757.HK | Hong Kong | $6.76B | n/a | +217% | 9% | 140.6× | 53.9% | +11.6% |
| Beijing Huafeng Test & Control Technology 688200.SS | China | $6.87B | -4% | +44% | 36% | 50.0× | 47.7% | +27.6% |
| MISUMI 9962.T | Japan | $6.25B | +3% | +24% | 13% | 17.9× | 9.3% | +7.3% |
| Middleby MIDD | United States | $6.17B | +3% | -7% | 17% | 18.5× | 6.9% | +5.0% |
| Shanghai BOCHU Electronic Technology 688188.SS | China | $6.16B | 0% | +20% | 44% | 29.6× | 18.0% | +30.9% |
| Welspun WELCORP.NS | India | $6.13B | +70% | +14% | 12% | 25.5× | 24.9% | +19.0% |
| Airtac International 1590.TW | Taiwan | $6.11B | -30% | +23% | 33% | 15.8× | 5.0% | +12.4% |
| Timken TKR | United States | $7.07B | -14% | +6% | 15% | 14.5× | 3.7% | +5.5% |
| Shenzhen Envicool Technology 002837.SZ | China | $7.13B | -49% | +22% | 9% | 53.5× | 56.2% | +29.0% |
| Zurn Elkay Water Solutions ZWS | United States | $7.18B | -15% | +10% | 23% | 21.8× | 10.9% | -2.4% |
| Valmet VALMT.HE | Finland | $5.97B | +30% | +3% | 10% | 13.8× | 2.1% | +6.8% |
| Spirax SPX.L | United Kingdom | $7.24B | +2% | +5% | 18% | 22.7× | 20.5% | +7.4% |
| Sulzer SUN.SW | Switzerland | $7.39B | +23% | -3% | 13% | 17.9× | -1.4% | +3.7% |
| Zoomlion Heavy Industry Science & Technology 000157.SZ | China | $7.61B | -22% | +14% | 7% | 11.2× | 2.8% | -4.3% |
| Kokusai Electric 6525.T | Japan | $7.62B | -21% | +15% | 19% | 20.0× | 30.9% | -1.5% |
| Georg Fischer GF.SW | Switzerland | $5.65B | +32% | -20% | 3% | 19.9× | 29.2% | -1.2% |
| Zhejiang Jingsheng Mechanical & Electrical 300316.SZ | China | $7.69B | -13% | -25% | 0% | 74.3× | 39.6% | +24.6% |
| Mycronic MYCR.ST | Sweden | $5.57B | -4% | +17% | 29% | 24.9× | 10.1% | +15.6% |