Loading…
Shanghai-based designer of EEPROM memory and analog/mixed-signal chips, widely used in smartphone camera modules.
Shanghai-based designer of EEPROM memory and analog/mixed-signal chips, widely used in smartphone camera modules.
Designs chips that foundries produce and sells mostly to smartphone camera-module makers; the memory chips store each module's calibration data. Unit growth follows the number of cameras per phone and phone output, and low-price chips are sold in very large volumes, so design wins matter.
In one line: A niche Chinese analog-memory chipmaker.
Moat: narrow (process know-how, customer qualification). Design-in qualification with camera-module makers in a commoditized memory niche.
Headquarters: Shanghai, China · Founded: 2008 · Employees: 352
Size Giantec Semiconductor (688123.SS) is a China Information Technology company (Semiconductors) with a market value of $2.27B, the 1121st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥95.36 on 6 Nov 2026.
Performance Over six months the shares fell 22.8%, against -31.9% for the median peer and -16.4% for the China market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 12.7% over the last twelve months (peer median +19.8%); the operating margin is 22.1% (peer median 3.3%).
Valuation It trades at 23.3× forward earnings against a peer median of 40.9× (6th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 39% a year for seven years (Req g). Recent delivered growth is +20%, so the hurdle is +19 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 8.1 points above its cost of capital (14.2% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.34B | CN¥1.22B | CN¥1.02B | CN¥697M | CN¥975M |
| Revenue growth | — | +19% | +46% | -28% | — |
| Gross profit | CN¥726M | CN¥683M | CN¥547M | CN¥313M | CN¥645M |
| EBITDA | n/a | CN¥369M | CN¥280M | CN¥79.4M | CN¥400M |
| Net income | CN¥530M | CN¥364M | CN¥290M | CN¥100M | CN¥354M |
| Free cash flow | CN¥180M | CN¥369M | CN¥270M | CN¥89.4M | CN¥295M |
| Capital expenditure | CN¥64.8M | CN¥56.6M | CN¥48.1M | CN¥33.1M | CN¥49.4M |
| Total debt | CN¥7.35M | CN¥7.12M | CN¥9.74M | CN¥8.26M | CN¥8.90M |
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 |
|---|---|---|---|---|---|---|
| Giantec Semiconductor 688123.SS | $2.27B | -23% | +13% | 22% | 23.3× | 39.2% |
| Winbond Electronic 2344.TW | $16.4B | +22% | +154% | 43% | 2.8× | 0.6% |
| Giga Device Semiconductor 603986.SS | $25.3B | -23% | +166% | 50% | 10.9× | 16.5% |
| STM STM | $41.0B | -29% | +16% | 7% | 17.3× | 38.6% |
| Shanghai Fudan Microelectronics 688385.SS | $4.60B | -31% | +15% | 12% | 31.6× | 24.8% |
| Puya Semiconductor (Shanghai) 688766.SS | $5.30B | -12% | +323% | 37% | 13.0× | 15.2% |
| Microchip Technology MCHP | $31.7B | -41% | +21% | 16% | 14.5× | 34.2% |
| Rohm 6963.T | $6.76B | -19% | +12% | 4% | 24.3× | n/a |
| ON Semiconductor ON | $24.6B | -39% | +3% | 19% | 14.3× | 20.0% |
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 | 688123.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -36.6% | -20.3% | 5th lowest of 21 |
| 6-month return | -22.8% | -31.9% | 7th highest of 21 |
| Distance from 52-week high | -59.6% | -55.2% | 7th lowest of 21 |
| Revenue growth (TTM) | +12.7% | +19.8% | 8th lowest of 21 |
| Operating margin | 22.1% | 3.3% | 3rd highest of 21 |
| Forward P/E | 23.3× | 40.9× | 6th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 39.2% | 31.8% | 4th most demanding of 12 |
| Growth delivered (Del g) | +19.8% | +19.1% | 6th highest of 12 |
| Hurdle (Req g minus delivered) | +19.4 pp | +11.0 pp | 5th most demanding of 12 |
| ROIC minus cost of capital | +8.1 pp | -6.7 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Giantec Semiconductor 688123.SS | China | $2.27B | -23% | +13% | 22% | 23.3× | 39.2% | +19.8% |
| Xiamen Changelight 300102.SZ | China | $2.26B | -50% | -38% | -2% | 71.3× | 34.6% | +21.1% |
| Hermes Testing Solutions 7856.TWO | Taiwan | $2.29B | -32% | +52% | 12% | 46.2× | 52.1% | +51.8% |
| GCL System Integration Technology 002506.SZ | China | $2.26B | -39% | -32% | -10% | n/a | 31.8% | +20.8% |
| Chunghwa Precision Test Tech 6510.TWO | Taiwan | $2.30B | -37% | +24% | 32% | 28.3× | 24.4% | +2.7% |
| POWI POWI | United States | $2.25B | -45% | +2% | 8% | 22.9× | 35.9% | -1.9% |
| Ennostar 3714.TW | Taiwan | $2.23B | -23% | -5% | -13% | n/a | n/a | n/a |
| NVTS NVTS | United States | $2.32B | -53% | -29% | -273% | n/a | n/a | n/a |
| Xiamen UX IC 688807.SS | China | $2.22B | -48% | +26% | 13% | 144.5× | n/a | n/a |
| Wuxi Taclink Optoelectronics Technology 688205.SS | China | $2.20B | -62% | +20% | 3% | 180.7× | n/a | n/a |
| Shanghai Fullhan Microelectronics 300613.SZ | China | $2.35B | +14% | +91% | 26% | 43.1× | n/a | n/a |
| nLIGHT LASR | United States | $2.19B | +72% | +43% | -5% | 61.8× | 39.2% | +3.2% |
| MLS 002745.SZ | China | $2.36B | +11% | +19% | -4% | 24.0× | 2.4% | +0.1% |
| Guangdong Tianyu Semiconductor 2658.HK | Hong Kong | $2.17B | -3% | +52% | -30% | 59.4× | n/a | n/a |
| Holy Stone Enterprise 3026.TW | Taiwan | $2.39B | +91% | +17% | 2% | 21.0× | n/a | n/a |
| Acter 5536.TWO | Taiwan | $2.39B | -26% | +28% | 16% | 10.0× | -6.0% | +24.3% |
| Sunrun RUN | United States | $2.40B | -32% | +63% | 2% | 38.7× | n/a | n/a |
| Union Semiconductor (Hefei) 688403.SS | China | $2.15B | -14% | +13% | 3% | 56.1× | n/a | n/a |
| DB HiTek 000990.KS | South Korea | $2.41B | -48% | +29% | 21% | 8.9× | 2.3% | +8.3% |
| Shanghai Belling Corp.,Ltd 600171.SS | China | $2.14B | -30% | +11% | 4% | n/a | 39.4% | +19.1% |
| Elmos Semiconductor ELG.DE | Germany | $2.13B | -36% | +9% | 20% | 16.2× | 12.9% | +20.2% |