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Chinese chip designer making x86-derived server CPUs and AI accelerator chips (DCUs) for the domestic market.
Chinese chip designer making x86-derived server CPUs and AI accelerator chips (DCUs) for the domestic market.
Sells server processors and AI accelerator cards mainly to Chinese state-sector and cloud buyers, who are encouraged to favor domestic suppliers. Its x86 technology came from a 2016 licensing joint venture with AMD, and it was added to the US Entity List in 2019. It designs chips and relies on outside foundries.
In one line: China's own AMD-derived server CPU/AI chip maker.
Moat: narrow (IP / patents, regulatory licence). Licensed x86 IP via an AMD joint venture gives rare x86-compatible chip capability inside China, aided by government procurement preference.
Headquarters: Tianjin, China · Founded: 2014 · Employees: 3,333
Size Hygon Information Technology (688041.SS) is a China Information Technology company (Information Technology Services) with a market value of $66.0B, the 28th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥189.50 on 6 Nov 2026.
Performance Over six months the shares fell 36.0%, against +26.3% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 58.5% over the last twelve months (peer median +8.4%); the operating margin is 19.4% (peer median 14.7%).
Valuation It trades at 100.6× forward earnings against a peer median of 17.1× (3rd most expensive of 21).
Capital Return on invested capital runs 0.7 points below its cost of capital (11.9% WACC).
Next results Next results expected around 15 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥19.8B | CN¥14.3B | CN¥9.06B | CN¥5.96B | CN¥5.09B |
| Revenue growth | — | +57% | +52% | +17% | — |
| Gross profit | CN¥11.8B | CN¥7.70B | CN¥5.26B | CN¥3.20B | CN¥2.37B |
| EBITDA | n/a | CN¥5.03B | CN¥3.87B | CN¥2.01B | CN¥1.68B |
| Net income | CN¥3.43B | CN¥2.54B | CN¥1.93B | CN¥1.26B | CN¥804M |
| Free cash flow | -CN¥4.31B | CN¥949M | CN¥39.0M | -CN¥81.4M | -CN¥1.42B |
| Capital expenditure | CN¥1.71B | CN¥1.17B | CN¥945M | CN¥918M | CN¥1.38B |
| Total debt | CN¥7.16B | CN¥4.46B | CN¥2.90B | CN¥1.28B | CN¥1.11B |
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 |
|---|---|---|---|---|---|---|
| Hygon Information Technology 688041.SS | $66.0B | -36% | +59% | 19% | 100.6× | n/a |
| Advanced Micro Devices AMD | $733B | -1% | +42% | 18% | 30.0× | 60.9% |
| Intel INTC | $299B | -55% | +12% | 11% | 39.9× | 46.1% |
| Loongson Technology 688047.SS | $3.86B | -44% | +24% | -76% | n/a | n/a |
| Cambricon Technologies 688256.SS | $75.7B | -30% | +104% | 33% | 87.3× | 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 | 688041.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.1% | +10.2% | 5th lowest of 21 |
| 6-month return | -36.0% | +26.3% | 2nd lowest of 21 |
| Distance from 52-week high | -52.0% | -24.6% | 2nd lowest of 21 |
| Revenue growth (TTM) | +58.5% | +8.4% | 2nd highest of 21 |
| Operating margin | 19.4% | 14.7% | 6th highest of 21 |
| Forward P/E | 100.6× | 17.1× | 3rd most expensive of 21 |
| ROIC minus cost of capital | -0.7 pp | +8.0 pp | 3rd lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hygon Information Technology 688041.SS | China | $66.0B | -36% | +59% | 19% | 100.6× | n/a | n/a |
| Infosys INFY.NS | India | $50.7B | +2% | +6% | 21% | 15.5× | 6.6% | +12.2% |
| Fortinet FTNT | United States | $87.3B | +4% | +20% | 33% | 31.6× | 22.4% | +21.3% |
| Workday WDAY | United States | $46.5B | +51% | +14% | 13% | 16.0× | 19.7% | +17.3% |
| Tata Consultancy Services TCS.NS | India | $95.7B | +4% | +10% | 25% | 16.2× | 12.0% | +10.2% |
| Cloudflare NET | United States | $95.7B | +37% | +34% | -8% | 168.8× | n/a | n/a |
| HCL Technologies HCLTECH.NS | India | $41.4B | +22% | +13% | 18% | 19.5× | 11.8% | +11.5% |
| Nec 6701.T | Japan | $36.3B | +5% | +7% | 12% | 18.6× | 5.5% | +3.7% |
| Fujitsu 6702.T | Japan | $35.4B | +1% | +4% | 10% | 18.0× | 4.1% | -0.5% |
| Cognizant CTSH | United States | $28.9B | +26% | +5% | -1% | 10.5× | 0.8% | +4.9% |
| Accenture ACN | United States | $154B | +44% | +6% | 15% | 17.8× | 3.7% | +8.0% |
| HP Inc. HPQ | United States | $25.7B | +27% | +9% | 7% | 9.5× | -7.0% | -0.4% |
| Capgemini CAP.PA | France | $24.1B | +31% | +6% | 11% | 10.4× | -0.1% | +7.2% |
| Credo Technology CRDO | United States | $22.7B | -36% | +165% | 32% | 16.5× | 47.4% | +86.8% |
| Rubrik RBRK | United States | $21.9B | +70% | +42% | -18% | 215.0× | 36.2% | +27.7% |
| Wipro WIPRO.NS | India | $20.7B | 0% | +8% | 16% | 14.9× | 9.0% | +8.4% |
| Nomura Research Institute 4307.T | Japan | $20.2B | +40% | +8% | 19% | 26.4× | 0.7% | +8.2% |
| CDW CDW | United States | $19.6B | +51% | +11% | 7% | 12.9× | 2.6% | +4.0% |
| Tech Mahindra TECHM.NS | India | $19.0B | +26% | +14% | 14% | 23.9× | 20.3% | +8.5% |
| IBM IBM | United States | $232B | +6% | +7% | 21% | 18.8× | 7.6% | +4.1% |
| CGI GIB-A.TO | Canada | $17.2B | +27% | +6% | 17% | 12.2× | -12.0% | +5.5% |