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Chinese maker of semiconductor lasers and optical components used in industrial, medical, sensing and automotive lidar.
Chinese maker of semiconductor lasers and optical components used in industrial, medical, sensing and automotive lidar.
In one line: A China-based IPG Photonics/Lumentum in laser optics.
Moat: narrow (IP / patents, process know-how). Vertically integrated from laser chip to optical module, a capability few Chinese peers have.
Headquarters: Xi'an, China · Founded: 2007 · Employees: 902
Size Focuslight Technologies (688167.SS) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $2.71B, the 951st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥138.60 on 6 Nov 2026.
Performance Over six months the shares fell 43.9%, against -25.1% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 21.7% over the last twelve months (peer median +6.7%); the operating margin is -9.3% (peer median 9.7%).
Valuation It trades at 284.8× forward earnings against a peer median of 19.8× (most expensive of 17).
Capital Return on invested capital runs 16.0 points below its cost of capital (17.0% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥943M | CN¥879M | CN¥617M | CN¥559M | CN¥551M |
| Revenue growth | — | +42% | +11% | +1% | — |
| Gross profit | CN¥489M | CN¥241M | CN¥140M | CN¥238M | CN¥284M |
| EBITDA | n/a | CN¥46.2M | -CN¥20.5M | CN¥64.6M | CN¥99.5M |
| Net income | -CN¥89.6M | -CN¥38.4M | -CN¥175M | CN¥90.5M | CN¥127M |
| Free cash flow | -CN¥136M | -CN¥39.8M | -CN¥560M | CN¥29.8M | -CN¥145M |
| Capital expenditure | CN¥278M | CN¥214M | CN¥464M | CN¥141M | CN¥162M |
| Total debt | CN¥607M | CN¥554M | CN¥596M | CN¥50.8M | CN¥57.2M |
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 |
|---|---|---|---|---|---|---|
| Focuslight Technologies 688167.SS | $2.71B | -44% | +22% | -9% | 284.8× | n/a |
| IPG Photonics IPGP | $2.78B | -38% | +15% | 5% | 32.8× | 24.8% |
| Lumentum LITE | $48.9B | -40% | +103% | 23% | 18.8× | 41.7% |
| Coherent COHR | $38.0B | -42% | +23% | 14% | 16.6× | n/a |
| Han's Laser Technology Industry 002008.SZ | $7.97B | -48% | +59% | 12% | 19.1× | 19.6% |
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 | 688167.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -43.4% | -8.7% | 2nd lowest of 21 |
| 6-month return | -43.9% | -25.1% | 5th lowest of 21 |
| Distance from 52-week high | -67.4% | -49.9% | 3rd lowest of 21 |
| Revenue growth (TTM) | +21.7% | +6.7% | 7th highest of 21 |
| Operating margin | -9.3% | 9.7% | 3rd lowest of 21 |
| Forward P/E | 284.8× | 19.8× | most expensive of 17 |
| ROIC minus cost of capital | -16.0 pp | -0.8 pp | 3rd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Focuslight Technologies 688167.SS | China | $2.71B | -44% | +22% | -9% | 284.8× | n/a | n/a |
| Oxford Nanopore Technologies ONT.L | United Kingdom | $2.71B | +75% | +15% | -55% | n/a | n/a | n/a |
| Ningbo Sanxing Medical Electric 601567.SS | China | $2.66B | -37% | -11% | 3% | 15.8× | 4.8% | +15.1% |
| Shenzhen CSL Vacuum Science & Technology 688785.SS | China | $2.62B | -21% | -2% | 18% | n/a | n/a | n/a |
| Kehua Data 002335.SZ | China | $2.81B | -41% | +5% | 5% | 31.4× | 16.7% | +14.4% |
| GeniuS Electronic Optical 3406.TW | Taiwan | $2.81B | +59% | +16% | 20% | 20.1× | 5.9% | +9.5% |
| Suzhou HYC Technology 688001.SS | China | $2.59B | -31% | +19% | 6% | 61.1× | 37.6% | +5.9% |
| Dexerials 4980.T | Japan | $2.55B | -4% | +5% | 35% | 13.8× | 15.0% | +11.6% |
| Vaisala VAIAS.HE | Finland | $2.54B | +22% | +2% | 16% | 26.9× | 9.7% | +9.5% |
| Ginlong Technologies 300763.SZ | China | $2.98B | -47% | +4% | 11% | 19.2× | 10.0% | +27.2% |
| Shanghai Lingang 600848.SS | China | $3.00B | -9% | -26% | 15% | 19.4× | 12.9% | +15.1% |
| Addsino 000547.SZ | China | $3.02B | -49% | -6% | -54% | n/a | n/a | n/a |
| Sineng Electric 300827.SZ | China | $2.35B | -25% | +29% | 12% | 24.7× | n/a | n/a |
| Syntec Technology 7750.TW | Taiwan | $3.15B | -46% | +60% | 25% | 13.2× | 17.2% | +24.3% |
| Keli Sensing Technology (Ningbo) 603662.SS | China | $2.28B | -4% | +24% | 19% | 51.6× | 24.7% | +13.4% |
| GRG Banking Equipment 002152.SZ | China | $3.26B | -25% | 0% | 9% | 23.0× | 4.0% | +13.5% |
| Shenzhen SEICHI Technologies 688627.SS | China | $3.37B | -24% | +65% | 3% | 89.1× | n/a | n/a |
| ULVAC 6728.T | Japan | $2.01B | -34% | +7% | 7% | 15.5× | 14.1% | +8.0% |
| Diebold Nixdorf DBD | United States | $1.96B | -25% | +6% | 9% | 10.5× | -2.0% | -0.5% |
| Goodwe Technologies 688390.SS | China | $1.93B | -51% | +53% | 5% | 17.1× | 17.4% | +41.2% |
| Shenzhen Everbest Machinery Industry 002980.SZ | China | $1.90B | -16% | +64% | 23% | n/a | n/a | n/a |