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Kunshan-based maker of electronic components or circuit materials for electronics manufacturers.
Kunshan-based maker of electronic components or circuit materials for electronics manufacturers.
Moat: none
Headquarters: Kunshan, Jiangsu, China · Employees: 1,740
Size Kunshan GuoLi Electronic Technology (688103.SS) is a China Industrials company (Electrical Products) with a market value of $924M, the 2461st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥64.62 on 6 Nov 2026.
Performance Over six months the shares gained 7.4%, against -20.7% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 20 in its peer set.
Growth Revenue grew 34.4% over the last twelve months (peer median +6.0%); the operating margin is 4.9% (peer median 3.2%).
Valuation It trades at 53.9× forward earnings against a peer median of 13.1× (most expensive of 9).
Price implies For today's price to make sense, revenue must grow about 38% a year for seven years (Req g). Recent delivered growth is +27%, so the hurdle is +11 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 3.8 points below its cost of capital (10.3% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.59B | CN¥1.32B | CN¥790M | CN¥690M | CN¥698M |
| Revenue growth | — | +67% | +14% | -1% | — |
| Gross profit | CN¥368M | CN¥307M | CN¥210M | CN¥235M | CN¥260M |
| EBITDA | n/a | CN¥124M | CN¥64.3M | CN¥98.0M | CN¥96.2M |
| Net income | CN¥76.3M | CN¥70.4M | CN¥30.2M | CN¥64.2M | CN¥85.4M |
| Free cash flow | CN¥56.0M | CN¥39.9M | -CN¥29.4M | CN¥5.36M | -CN¥84.0M |
| Capital expenditure | CN¥139M | CN¥96.3M | CN¥78.7M | CN¥71.1M | CN¥96.7M |
| Total debt | CN¥872M | CN¥877M | CN¥636M | CN¥586M | CN¥165M |
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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 | 688103.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.4% | -7.4% | 10th lowest of 21 |
| 6-month return | +7.4% | -20.7% | 2nd highest of 20 |
| Distance from 52-week high | -42.8% | -38.3% | 10th lowest of 21 |
| Revenue growth (TTM) | +34.4% | +6.0% | 2nd highest of 21 |
| Operating margin | 4.9% | 3.2% | 9th highest of 20 |
| Forward P/E | 53.9× | 13.1× | most expensive of 9 |
| Growth the price implies (Req g, 7 yrs) | 37.7% | 15.5% | 4th most demanding of 15 |
| Growth delivered (Del g) | +26.6% | +7.0% | highest of 14 |
| Hurdle (Req g minus delivered) | +11.1 pp | +7.8 pp | 5th most demanding of 14 |
| ROIC minus cost of capital | -3.8 pp | -3.7 pp | 10th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kunshan GuoLi Electronic Technology 688103.SS | China | $924M | +7% | +34% | 5% | 53.9× | 37.7% | +26.6% |
| Changshu Fengfan Power Equipment 601700.SS | China | $924M | 0% | +31% | -9% | n/a | n/a | n/a |
| Fujian Nanping Sun Cable 002300.SZ | China | $924M | -9% | +9% | 0% | n/a | 19.6% | +8.7% |
| Shanghai Zhezhong 002346.SZ | China | $928M | -21% | +23% | 15% | n/a | 22.1% | +7.0% |
| Changgao Electric 002452.SZ | China | $917M | -10% | -9% | 19% | 8.2× | 2.6% | +1.3% |
| Beijing SOJO Electric 300444.SZ | China | $912M | -52% | -11% | -4% | 9.1× | n/a | n/a |
| Warom Technology 603855.SS | China | $938M | +1% | -18% | 15% | 14.6× | -2.6% | +7.1% |
| Qingdao CHOHO Industrial 003033.SZ | China | $939M | +36% | +6% | 9% | n/a | 14.2% | +14.6% |
| Sunway 603333.SS | China | $941M | +1% | +68% | 3% | n/a | n/a | n/a |
| CWB Automotive Electronics 605005.SS | China | $907M | -21% | 0% | 9% | n/a | 9.4% | +9.3% |
| NITTO KOGYO 6651.T | Japan | $906M | -17% | +6% | 8% | 11.6× | -2.7% | +7.3% |
| Beijing Creative 002350.SZ | China | $946M | -19% | +7% | -1% | n/a | 54.8% | -0.3% |
| Array Technologies ARRY | United States | $902M | -32% | -16% | 0% | 6.5× | 57.9% | +8.0% |
| Shenzhen Center Power Tech 002733.SZ | China | $901M | -43% | +16% | 5% | n/a | 16.9% | +6.4% |
| R&S Group Holding AG Pref RSGN.SW | Switzerland | $899M | -22% | +2% | 18% | 14.6× | -7.0% | +2.3% |
| Temb Intelligent Tech Shandong 603448.SS | China | $951M | n/a | +16% | n/a | n/a | 45.6% | n/a |
| Beijing Jingwei Hirain Technologies 688326.SS | China | $896M | -40% | +2% | -5% | n/a | n/a | n/a |
| Motic (Xiamen) Electric 300341.SZ | China | $957M | -20% | +19% | 12% | n/a | 17.7% | +5.1% |
| Jolywood (Suzhou) Sunwatt 300393.SZ | China | $958M | -42% | -48% | -62% | 30.8× | 5.1% | -2.7% |
| Jiangsu Zhongchao 002471.SZ | China | $963M | -45% | -5% | 1% | n/a | n/a | n/a |
| CSG Smart Science&Technology 300222.SZ | China | $966M | -27% | +26% | 2% | 30.5× | n/a | n/a |