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Chinese fabless designer of analog and power-management chips for battery charging, DC-DC conversion and camera/audio drivers.
Chinese fabless designer of analog and power-management chips for battery charging, DC-DC conversion and camera/audio drivers.
Designs power chips and has outside foundries make them, selling mostly to smartphone and consumer-device makers where each part is qualified into a model, so sales follow handset launches. Fast-charging and DC-DC converter chips carry the business, with automotive chips the push into longer-cycle customers.
In one line: A small Chinese Monolithic Power Systems.
Moat: none (process know-how). Fabless analog chip designer in a crowded, price-competitive field with many domestic rivals.
Headquarters: Foshan, China · Founded: 2012 · Employees: 342
Size Halo Microelectronics (688173.SS) is a China Information Technology company (Semiconductors) with a market value of $606M, the 3391st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.78 on 6 Nov 2026.
Performance Over six months the shares fell 41.8%, against -28.2% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 19 in its peer set.
Growth Revenue grew 10.9% over the last twelve months (peer median +15.8%); the operating margin is -13.7% (peer median 2.5%).
Valuation It trades at 326.0× forward earnings against a peer median of 15.6× (most expensive of 8).
Capital Return on invested capital runs 17.2 points below its cost of capital (12.0% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.02B | CN¥939M | CN¥546M | CN¥394M | CN¥559M |
| Revenue growth | — | +72% | +39% | -30% | — |
| Gross profit | CN¥318M | CN¥242M | CN¥132M | CN¥113M | CN¥253M |
| EBITDA | n/a | -CN¥97.6M | -CN¥274M | -CN¥216M | -CN¥13.1M |
| Net income | -CN¥129M | -CN¥114M | -CN¥291M | -CN¥54.2M | -CN¥15.2M |
| Free cash flow | -CN¥195M | -CN¥249M | -CN¥266M | -CN¥312M | -CN¥93.5M |
| Capital expenditure | CN¥112M | CN¥89.0M | CN¥69.9M | CN¥158M | CN¥53.0M |
| Total debt | CN¥626M | CN¥120M | CN¥64.9M | CN¥25.9M | CN¥9.05M |
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 |
|---|---|---|---|---|---|---|
| Halo Microelectronics 688173.SS | $606M | -42% | +11% | -14% | 326.0× | n/a |
| Monolithic Power Systems MPWR | $58.1B | -26% | +40% | 30% | 28.3× | 39.6% |
| Silergy 6415.TW | $4.58B | -11% | +13% | 12% | 30.5× | n/a |
| SG Micro 300661.SZ | $8.33B | -12% | +46% | 17% | 55.7× | 35.9% |
| Diodes DIOD | $3.56B | -31% | +18% | 5% | 14.6× | 34.0% |
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 | 688173.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.6% | -18.5% | 10th lowest of 21 |
| 6-month return | -41.8% | -28.2% | 7th lowest of 19 |
| Distance from 52-week high | -51.2% | -54.8% | 9th highest of 21 |
| Revenue growth (TTM) | +10.9% | +15.8% | 10th lowest of 20 |
| Operating margin | -13.7% | 2.5% | 4th lowest of 20 |
| Forward P/E | 326.0× | 15.6× | most expensive of 8 |
| ROIC minus cost of capital | -17.2 pp | -5.6 pp | 4th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Halo Microelectronics 688173.SS | China | $606M | -42% | +11% | -14% | 326.0× | n/a | n/a |
| Shenzhen Kiwi Instruments 688045.SS | China | $604M | -3% | +45% | 8% | 68.1× | 31.6% | +9.7% |
| Viewtrix Technology 3310.HK | Hong Kong | $608M | n/a | +24% | -22% | n/a | n/a | n/a |
| Jiangxi Lianchuang Optoelectronic Science & Tech 600363.SS | China | $603M | -82% | -10% | 1% | 7.2× | n/a | n/a |
| Global Mixed-Mode Technology 8081.TW | Taiwan | $612M | -11% | -1% | 17% | 11.7× | -2.8% | +3.2% |
| Xiamen Guangpu Electronics 300632.SZ | China | $612M | -44% | -1% | -13% | n/a | 37.5% | -3.6% |
| Xi'an Peri Power Semiconductor Converting Technology 300831.SZ | China | $613M | -34% | +107% | 34% | n/a | n/a | n/a |
| Tyntek 2426.TW | Taiwan | $619M | -2% | -6% | 1% | n/a | n/a | n/a |
| ITE Tech 3014.TW | Taiwan | $620M | -6% | -4% | 27% | 11.9× | -8.4% | +7.6% |
| KoMiCo 183300.KS | South Korea | $621M | +14% | +22% | 15% | 15.6× | n/a | n/a |
| First Sensor SIS.DE | Germany | $591M | -6% | -18% | 7% | n/a | 13.5% | -7.4% |
| Shenzhen SOSEN Electronics 301002.SZ | China | $587M | -39% | +22% | 2% | n/a | n/a | n/a |
| Centera Photonics 7917.TWO | Taiwan | $579M | n/a | n/a | n/a | n/a | n/a | n/a |
| Macmic Science & Technology 688711.SS | China | $635M | -27% | +16% | -3% | 98.1× | 49.0% | +32.4% |
| Hongli Zhihui 300219.SZ | China | $638M | -22% | +10% | 3% | n/a | 8.3% | +6.9% |
| Silex Systems SLX.AX | Australia | $574M | -49% | +89% | -33% | n/a | 43.3% | +48.1% |
| Taiwan Microloops 6831.TW | Taiwan | $569M | -46% | +117% | 12% | 15.8× | n/a | n/a |
| Jiangsu Transimage Technology 002866.SZ | China | $567M | -49% | -5% | 3% | n/a | 12.9% | +4.2% |
| Silicon Integrated Systems 2363.TW | Taiwan | $649M | -25% | +78% | 2% | n/a | 28.1% | +77.5% |
| Kopin KOPN | United States | $564M | -44% | -7% | -35% | n/a | n/a | n/a |
| Shenzhen EXC-LED Technology 300889.SZ | China | $562M | -29% | +20% | -7% | n/a | n/a | n/a |