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Fabless designer of specialty memory chips (DRAM, NOR/NAND flash) for consumer, industrial and automotive uses.
Fabless designer of specialty memory chips (DRAM, NOR/NAND flash) for consumer, industrial and automotive uses.
In one line: A small, China-focused specialty memory designer, akin to a niche ISSI/GigaDevice.
Moat: none (process know-how). Fabless memory designer in a highly commoditized, price-competitive specialty memory niche.
Headquarters: Shanghai, China · Employees: 319
Size Dosilicon (688110.SS) is a China Information Technology company (Semiconductors) with a market value of $5.13B, the 489th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥104.38 on 6 Nov 2026.
Performance Over six months the shares fell 7.2%, against -27.8% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 20 in its peer set.
Growth Revenue grew 375.0% over the last twelve months (peer median +24.3%); the operating margin is 53.6% (peer median 17.5%).
Valuation It trades at 27.4× forward earnings against a peer median of 31.6× (8th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 24% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +20 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 32.3 points above its cost of capital (16.3% WACC).
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.64B | CN¥921M | CN¥641M | CN¥531M | CN¥1.15B |
| Revenue growth | — | +44% | +21% | -54% | — |
| Gross profit | CN¥2.54B | CN¥184M | CN¥49.2M | CN¥28.5M | CN¥441M |
| EBITDA | n/a | -CN¥23.0M | -CN¥184M | -CN¥388M | CN¥168M |
| Net income | CN¥1.44B | -CN¥195M | -CN¥167M | -CN¥306M | CN¥185M |
| Free cash flow | CN¥1.07B | -CN¥144M | -CN¥306M | -CN¥323M | -CN¥334M |
| Capital expenditure | CN¥270M | CN¥39.1M | CN¥41.1M | CN¥27.3M | CN¥80.9M |
| Total debt | CN¥146M | CN¥26.3M | CN¥41.0M | CN¥46.9M | CN¥69.5M |
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 |
|---|---|---|---|---|---|---|
| Dosilicon 688110.SS | $5.13B | -7% | +375% | 54% | 27.4× | 23.6% |
| Giga Device Semiconductor 603986.SS | $25.3B | -23% | +166% | 50% | 10.9× | 16.5% |
| Winbond Electronic 2344.TW | $16.4B | +22% | +154% | 43% | 2.8× | 0.6% |
| Etron Technology 5351.TWO | $835M | +13% | +246% | 21% | n/a | 3.3% |
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 | 688110.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.3% | -21.2% | 9th highest of 21 |
| 6-month return | -7.2% | -27.8% | 8th highest of 20 |
| Distance from 52-week high | -50.2% | -46.9% | 10th lowest of 21 |
| Revenue growth (TTM) | +375.0% | +24.3% | highest of 21 |
| Operating margin | 53.6% | 17.5% | highest of 21 |
| Forward P/E | 27.4× | 31.6× | 8th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 23.6% | 28.8% | 6th least demanding of 14 |
| Growth delivered (Del g) | +3.3% | +16.5% | 4th lowest of 14 |
| Hurdle (Req g minus delivered) | +20.3 pp | +5.8 pp | 6th most demanding of 14 |
| ROIC minus cost of capital | +32.3 pp | -0.9 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Dosilicon 688110.SS | China | $5.13B | -7% | +375% | 54% | 27.4× | 23.6% | +3.3% |
| Win Semiconductors 3105.TWO | Taiwan | $5.19B | -27% | +24% | 11% | 28.5× | 48.8% | -8.2% |
| EverProX Technologies 300548.SZ | China | $5.04B | -59% | +64% | 35% | 33.5× | 30.9% | +26.6% |
| Zhejiang Quartz Crystal Optoelectronic Technology 002273.SZ | China | $5.03B | -28% | +19% | 18% | 24.9× | 16.9% | +16.5% |
| Allegro MicroSystems ALGM | United States | $5.25B | -42% | +28% | 9% | 22.1× | 45.3% | +8.5% |
| Impinj PI | United States | $5.28B | +12% | +8% | -1% | 62.6× | 47.2% | +21.1% |
| Hubei Feilihua Quartz Glass 300395.SZ | China | $5.35B | -38% | +50% | 24% | 52.7× | n/a | n/a |
| MaxOne Semiconductor (Suzhou) 688809.SS | China | $4.90B | +2% | +57% | 39% | n/a | n/a | n/a |
| CSI Solar 688472.SS | China | $4.87B | -37% | -36% | -2% | 48.8× | n/a | n/a |
| GalaxyCore 688728.SS | China | $5.41B | +1% | +16% | 3% | 86.7× | 28.8% | +3.8% |
| Sigmastar Technology 301536.SZ | China | $5.41B | +4% | +99% | 31% | n/a | 19.6% | +20.0% |
| Silicon Motion Technology Corporation Sponsored ADR SIMO | United States | $5.52B | -36% | +104% | 21% | 8.4× | n/a | n/a |
| Espressif Systems (Shanghai) 688018.SS | China | $5.61B | +30% | +23% | 19% | 48.8× | 36.0% | +25.3% |
| TCL Zhonghuan Renewable Energy Technology 002129.SZ | China | $5.68B | +9% | +13% | -27% | n/a | n/a | n/a |
| Synaptics SYNA | United States | $4.63B | -7% | +11% | -3% | 21.6× | 34.6% | -2.2% |
| Cirrus Logic CRUS | United States | $5.69B | -34% | +6% | 23% | 16.9× | 1.5% | +7.8% |
| Powertech Technology 6239.TW | Taiwan | $4.61B | -11% | +24% | 13% | 13.2× | n/a | n/a |
| Henan Shijia Photons Technology 688313.SS | China | $5.72B | -36% | +73% | 22% | 47.9× | n/a | n/a |
| Shanghai Fudan Microelectronics 688385.SS | China | $4.60B | -31% | +15% | 12% | 31.6× | 24.8% | +18.9% |
| SG Micro 3661.HK | Hong Kong | $5.78B | n/a | +54% | 17% | 38.7× | 3.4% | +25.8% |
| Macronix International 2337.TW | Taiwan | $4.52B | -53% | +127% | 38% | 1.8× | -7.5% | -6.2% |