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Fabless designer of RF front-end chips (power amplifiers, filters) used in smartphones and wireless devices.
Fabless designer of RF front-end chips (power amplifiers, filters) used in smartphones and wireless devices.
Designs but does not make chips, relying on outside factories, and sells to phone makers by winning a slot in each new model, so revenue depends on handset makers' product plans. Its customers are mainly Chinese brands.
In one line: A Chinese Qorvo/Skyworks.
Moat: narrow (IP / patents, process know-how). RF front-end design is technically demanding; import-substitution favors qualified domestic suppliers.
Headquarters: Tianjin, China · Founded: 2010 · Employees: 592
Size Vanchip (Tianjin) Technology (688153.SS) is a China Industrials company (Electrical Products) with a market value of $1.41B, the 1728th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥22.02 on 6 Nov 2026.
Performance Over six months the shares fell 31.2%, against -38.3% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 20 in its peer set.
Growth Revenue grew 0.2% over the last twelve months (peer median +14.0%); the operating margin is -7.9% (peer median 6.2%).
Valuation It trades at 3.3× enterprise value to sales against a peer median of 1.4× (5th most expensive of 20).
Capital Return on invested capital runs 13.8 points below its cost of capital (10.8% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.18B | CN¥2.31B | CN¥2.10B | CN¥2.97B | CN¥2.29B |
| Revenue growth | — | +10% | -29% | +30% | — |
| Gross profit | CN¥534M | CN¥516M | CN¥421M | CN¥663M | CN¥652M |
| EBITDA | n/a | CN¥75.2M | -CN¥7.75M | CN¥155M | CN¥92.1M |
| Net income | -CN¥107M | CN¥43.6M | -CN¥23.7M | CN¥112M | CN¥53.4M |
| Free cash flow | -CN¥128M | CN¥582M | -CN¥539M | CN¥609M | -CN¥292M |
| Capital expenditure | CN¥82.2M | CN¥196M | CN¥224M | CN¥136M | CN¥204M |
| Total debt | CN¥340M | CN¥243M | CN¥334M | CN¥132M | CN¥202M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Vanchip (Tianjin) Technology 688153.SS | $1.41B | -31% | 0% | -8% | 3.3× | n/a |
| Qorvo QRVO | n/a | +45% | n/a | n/a | n/a | n/a |
| Skyworks Solutions SWKS | $19.3B | +24% | -3% | 9% | 4.8× | 39.4% |
| Murata Manufacturing 6981.T | $57.1B | -5% | +15% | 20% | 4.2× | 29.8% |
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 | 688153.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.5% | -4.4% | 8th lowest of 21 |
| 6-month return | -31.2% | -38.3% | 9th highest of 20 |
| Distance from 52-week high | -52.4% | -53.7% | 11th highest of 21 |
| Revenue growth (TTM) | +0.2% | +14.0% | 5th lowest of 20 |
| Operating margin | -7.9% | 6.2% | 2nd lowest of 20 |
| EV / Sales | 3.3× | 1.4× | 5th most expensive of 20 |
| ROIC minus cost of capital | -13.8 pp | -3.6 pp | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Vanchip (Tianjin) Technology 688153.SS | China | $1.41B | -31% | 0% | -8% | 3.3× | n/a | n/a |
| Amara Raja Energy & Mobility ARE&M.NS | India | $1.41B | -19% | +16% | 6% | 0.9× | n/a | n/a |
| Pylon Technologies 688063.SS | China | $1.41B | -50% | +101% | 1% | 1.4× | n/a | n/a |
| Zhejiang Wanma 002276.SZ | China | $1.42B | -25% | +13% | 1% | 0.8× | 5.1% | +15.6% |
| Eaglerise Electric & Electronic (China) 002922.SZ | China | $1.39B | -44% | +14% | 6% | 2.0× | n/a | n/a |
| East 300376.SZ | China | $1.43B | -30% | +9% | 3% | 3.4× | n/a | n/a |
| Daihen 6622.T | Japan | $1.43B | +5% | +5% | 8% | 1.2× | n/a | n/a |
| Ocean's King Lighting Science & Technology 002724.SZ | China | $1.39B | +89% | -3% | 6% | 5.0× | 21.3% | +0.3% |
| Allient ALNT | United States | $1.38B | +22% | +11% | 9% | 2.7× | 27.9% | +8.6% |
| Shenzhen Woer Heat-Shrinkable Material 9981.HK | Hong Kong | $1.38B | -52% | +26% | 15% | 1.0× | -11.2% | +14.8% |
| Hubei Zhongyi Technology 301150.SZ | China | $1.38B | -40% | +48% | 3% | 1.3× | 14.6% | +38.1% |
| Ushio 6925.T | Japan | $1.37B | -15% | +6% | 8% | 1.1× | 8.3% | +8.6% |
| V-Guard Industries VGUARD.NS | India | $1.35B | -12% | +22% | 8% | 1.8× | 19.3% | +17.0% |
| Guodian Nanjing Automation 600268.SS | China | $1.48B | -35% | -5% | 9% | 1.0× | -0.1% | +13.9% |
| Aerospace Intelligent Manufacturing Technology 300446.SZ | China | $1.48B | -38% | -14% | 5% | 1.2× | 2.1% | +133.1% |
| Inox Wind INOXWIND.NS | India | $1.49B | -39% | +17% | 15% | 3.2× | n/a | n/a |
| Accelevation ACCV | United States | $1.33B | n/a | n/a | n/a | n/a | n/a | n/a |
| Zhejiang Zhaolong Interconnect Technology Co. Limited 300913.SZ | China | $1.49B | -45% | +29% | 12% | 3.4× | n/a | n/a |
| Hainan Drinda New Energy Technology 002865.SZ | China | $1.49B | -45% | -4% | -13% | 1.8× | 19.3% | +54.9% |
| Shanghai Electric Wind Power 688660.SS | China | $1.50B | -39% | +69% | -6% | 0.9× | n/a | n/a |
| Up-Shine Lighting 301362.SZ | China | $1.50B | -39% | +15% | 7% | 5.0× | n/a | n/a |