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Employees: 428
Size Shenzhen Kiwi Instruments (688045.SS) is a China Information Technology company (Semiconductors) with a market value of $604M, the 3400th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥58.57 on 6 Nov 2026.
Performance Over six months the shares fell 3.4%, against -31.8% for the median peer and -16.4% for the China market (cap-weighted) — 3rd highest of 19 in its peer set.
Growth Revenue grew 45.2% over the last twelve months (peer median +10.9%); the operating margin is 8.4% (peer median 2.2%).
Valuation It trades at 68.1× forward earnings against a peer median of 15.6× (3rd most expensive of 8).
Price implies For today's price to make sense, revenue must grow about 32% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +22 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 2.5 points below its cost of capital (11.6% WACC).
Next results Next results expected around 15 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥978M | CN¥682M | CN¥688M | CN¥577M | CN¥525M |
| Revenue growth | — | -1% | +19% | +10% | — |
| Gross profit | CN¥337M | CN¥199M | CN¥174M | CN¥132M | CN¥145M |
| EBITDA | n/a | CN¥3.36M | -CN¥51.8M | -CN¥72.6M | -CN¥10.3M |
| Net income | CN¥103M | CN¥12.1M | -CN¥17.2M | -CN¥19.1M | CN¥38.0M |
| Free cash flow | CN¥31.9M | -CN¥8.91M | CN¥17.2M | -CN¥6.59M | -CN¥104M |
| Capital expenditure | CN¥58.5M | CN¥86.2M | CN¥9.14M | CN¥12.7M | CN¥59.0M |
| Total debt | CN¥186M | CN¥193M | CN¥26.9M | CN¥46.7M | CN¥21.9M |
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.
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 | 688045.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.8% | -19.6% | highest of 21 |
| 6-month return | -3.4% | -31.8% | 3rd highest of 19 |
| Distance from 52-week high | -29.6% | -54.8% | 3rd highest of 21 |
| Revenue growth (TTM) | +45.2% | +10.9% | 5th highest of 20 |
| Operating margin | 8.4% | 2.2% | 6th highest of 20 |
| Forward P/E | 68.1× | 15.6× | 3rd most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | 31.6% | 13.5% | 4th most demanding of 10 |
| Growth delivered (Del g) | +9.7% | +6.9% | 4th highest of 10 |
| Hurdle (Req g minus delivered) | +21.9 pp | +1.4 pp | 2nd most demanding of 10 |
| ROIC minus cost of capital | -2.5 pp | -6.4 pp | 9th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Kiwi Instruments 688045.SS | China | $604M | -3% | +45% | 8% | 68.1× | 31.6% | +9.7% |
| Jiangxi Lianchuang Optoelectronic Science & Tech 600363.SS | China | $603M | -82% | -10% | 1% | 7.2× | n/a | n/a |
| Halo Microelectronics 688173.SS | China | $606M | -42% | +11% | -14% | 326.0× | n/a | n/a |
| Viewtrix Technology 3310.HK | Hong Kong | $608M | n/a | +24% | -22% | n/a | n/a | n/a |
| Global Mixed-Mode Technology 8081.TW | Taiwan | $612M | -11% | -1% | 17% | 11.7× | -2.8% | +3.2% |
| Xiamen Guangpu Electronics 300632.SZ | China | $612M | -44% | -1% | -13% | n/a | 37.5% | -3.6% |
| Xi'an Peri Power Semiconductor Converting Technology 300831.SZ | China | $613M | -34% | +107% | 34% | n/a | n/a | n/a |
| First Sensor SIS.DE | Germany | $591M | -6% | -18% | 7% | n/a | 13.5% | -7.4% |
| Tyntek 2426.TW | Taiwan | $619M | -2% | -6% | 1% | n/a | n/a | n/a |
| ITE Tech 3014.TW | Taiwan | $620M | -6% | -4% | 27% | 11.9× | -8.4% | +7.6% |
| KoMiCo 183300.KS | South Korea | $621M | +14% | +22% | 15% | 15.6× | n/a | n/a |
| Shenzhen SOSEN Electronics 301002.SZ | China | $587M | -39% | +22% | 2% | n/a | n/a | n/a |
| Centera Photonics 7917.TWO | Taiwan | $579M | n/a | n/a | n/a | n/a | n/a | n/a |
| Macmic Science & Technology 688711.SS | China | $635M | -27% | +16% | -3% | 98.1× | 49.0% | +32.4% |
| Silex Systems SLX.AX | Australia | $574M | -49% | +89% | -33% | n/a | 43.3% | +48.1% |
| Hongli Zhihui 300219.SZ | China | $638M | -22% | +10% | 3% | n/a | 8.3% | +6.9% |
| Taiwan Microloops 6831.TW | Taiwan | $569M | -46% | +117% | 12% | 15.8× | n/a | n/a |
| Jiangsu Transimage Technology 002866.SZ | China | $567M | -49% | -5% | 3% | n/a | 12.9% | +4.2% |
| Kopin KOPN | United States | $564M | -44% | -7% | -35% | n/a | n/a | n/a |
| Silicon Integrated Systems 2363.TW | Taiwan | $649M | -25% | +78% | 2% | n/a | 28.1% | +77.5% |
| Shenzhen EXC-LED Technology 300889.SZ | China | $562M | -29% | +20% | -7% | n/a | n/a | n/a |