Who are ASR Microelectronics's main competitors?

Named competitors: MediaTek (2454.TW), Qualcomm (QCOM), UNISOC (private or unlisted), Nordic Semiconductor (NOD.OL), Sequans Communications (private or unlisted). The cockpit's measured peer set (industry) also includes Infrastrutture Wireless Italiane (INW.MI), 1&1 (1U1.DE), Iridium Communications (IRDM), PLDT, Inc. Sponsored ADR (PHI), AST SpaceMobile (ASTS), China Satellite Communications (601698.SS).

Is ASR Microelectronics expensive compared with its peers?

On forward p/e it trades at 170.1× against a peer median of 18.5×, most expensive of 11 in its peer set.

How has ASR Microelectronics stock performed?

Over six months to 6 Nov 2026 the shares returned +5.6% against -7.5% for the median peer; over one year +14.5%.

← CockpitCompetitor Analysis › 688220.SS ASR Microelectronics Co., Ltd. Class AOpen in the cockpit ↗

ASR Microelectronics Co., Ltd. Class A688220.SSCompetitor analysis, valuation and peers

China · CNY·Communication Services›Specialty Telecommunications

Fabless designer of cellular baseband and IoT connectivity chips, built around the acquired Marvell mobile-baseband business.

≈ A Chinese MediaTek/Qualcomm for cellular baseband chipsMomentum leader 96

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$6.56B

US dollars, full cap

Free float

53%

of shares outstanding

$/day

$120M

20-day average traded

Fwd P/E

170.1×

forward earnings

ROIC−WACC

-6.3 pp

WACC 11.4%

Hurdle

n/a

no reverse DCF

Next earnings

174 days

29 Apr 2027

Close · CNYCN¥107.18

1D-4.2%

1W+28.2%

1M+26.5%

3M+17.6%

6M+5.6%

YTD+29.7%

1Y+14.5%

ATR %7.1%

52w lowhigh19.7% off high

What ASR Microelectronics does

Fabless designer of cellular baseband and IoT connectivity chips, built around the acquired Marvell mobile-baseband business.

In one line: A Chinese MediaTek/Qualcomm for cellular baseband chips.

Products and services

4G/5G baseband chips
IoT cellular modules
Feature-phone chipsets

Customers

Domestic and emerging-market handset/IoT device ma

Where it sits in the supply chain

Semiconductors
Fabless IC design
Cellular baseband & IoT connectivity…

What could go right

IoT cellular connectivity growth
Domestic baseband substitution

What could go wrong

Intense price competition from MediaTek/UNISOC
US export-control exposure to former Marvell IP

Moat: narrow (IP / patents, process know-how). Inherited baseband IP and patents from Marvell's mobile business give it a head start versus new entrants.

Headquarters: Shanghai, China · Founded: 2019 · Employees: 1,283

Named competitors

MediaTek 2454.TW
Qualcomm QCOM
UNISOC private or unlisted
Nordic Semiconductor NOD.OL
Sequans Communications private or unlisted

ASR Microelectronics at a glance

Size ASR Microelectronics (688220.SS) is a China Communication Services company (Specialty Telecommunications) with a market value of $6.56B, the 374th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥107.18 on 6 Nov 2026.

Performance Over six months the shares gained 5.6%, against -7.5% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 13 in its peer set.

Growth Revenue grew 27.6% over the last twelve months (peer median +3.7%); the operating margin is 0.5% (peer median 16.2%).

Valuation It trades at 170.1× forward earnings against a peer median of 18.5× (most expensive of 11).

Capital Return on invested capital runs 6.3 points below its cost of capital (11.4% WACC).

Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: ASR Microelectronics against the median of its 12 peers (local-currency closes).

ASR Microelectronics financials

Reported figures in CNY; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	CN¥4.75B	CN¥3.82B	CN¥3.39B	CN¥2.60B	CN¥2.14B
Revenue growth	—	+13%	+30%	+21%	—
Gross profit	CN¥1.46B	CN¥742M	CN¥558M	CN¥426M	CN¥601M
EBITDA	n/a	-CN¥329M	-CN¥493M	-CN¥481M	-CN¥224M
Net income	CN¥296M	-CN¥390M	-CN¥693M	-CN¥506M	-CN¥252M
Free cash flow	-CN¥591M	-CN¥508M	-CN¥618M	-CN¥722M	-CN¥384M
Capital expenditure	CN¥137M	CN¥111M	CN¥254M	CN¥123M	CN¥119M
Total debt	CN¥494M	CN¥554M	CN¥33.8M	CN¥47.6M	CN¥54.1M

Quarterly statements and history in the cockpit →

ASR Microelectronics competitor charts

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.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. ASR Microelectronics is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. ASR Microelectronics is the large dot.

ASR Microelectronics competitors and peer comparison

Head to head with its named competitors (688220.SS vs 2454.TW vs QCOM vs NOD.OL)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
ASR Microelectronics 688220.SS	$6.56B	+6%	+28%	1%	170.1×	n/a
Mediatek 2454.TW	$164B	+7%	+6%	15%	24.7×	40.7%
Qualcomm QCOM	$177B	-24%	+2%	24%	17.0×	15.9%
Nordic Semiconductor NOD.OL	$3.62B	-12%	+15%	8%	54.6×	n/a

How ASR Microelectronics compares with its peers

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.

ASR Microelectronics against its 12 peers (data as of 6 Nov 2026)
Measure	688220.SS	Peer median	Rank in peer set
1-month return	+26.5%	+0.8%	highest of 13
6-month return	+5.6%	-7.5%	4th highest of 13
Distance from 52-week high	-19.7%	-23.0%	6th highest of 13
Revenue growth (TTM)	+27.6%	+3.7%	2nd highest of 13
Operating margin	0.5%	16.2%	2nd lowest of 13
Forward P/E	170.1×	18.5×	most expensive of 11
ROIC minus cost of capital	-6.3 pp	-1.0 pp	2nd lowest of 13

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
ASR Microelectronics 688220.SS	China	$6.56B	+6%	+28%	1%	170.1×	n/a	n/a
Infrastrutture Wireless Italiane INW.MI	Italy	$7.39B	+1%	+1%	53%	19.4×	8.2%	+10.2%
1&1 1U1.DE	Germany	$5.79B	+7%	+8%	3%	34.4×	12.5%	+1.8%
Iridium Communications IRDM	United States	$4.68B	+6%	+4%	19%	64.8×	21.0%	+8.4%
PLDT, Inc. Sponsored ADR PHI	United States	$3.88B	-11%	-2%	22%	8.7×	-2.9%	+0.8%
AST SpaceMobile ASTS	United States	$12.6B	-57%	+2,257%	-410%	n/a	n/a	n/a
China Satellite Communications 601698.SS	China	$13.9B	-40%	-2%	10%	n/a	40.0%	-0.3%
freenet FNTN.DE	Germany	$3.06B	-7%	+10%	14%	11.4×	-11.3%	-1.1%
Helios Towers HTWS.L	United Kingdom	$3.05B	-8%	+6%	36%	30.1×	13.4%	+15.0%
Telia TELIA.ST	Sweden	$19.2B	0%	0%	18%	21.1×	-1.1%	-1.9%
China Tower 0788.HK	Hong Kong	$20.2B	-18%	+4%	20%	9.7×	-1.0%	+3.6%
U-NEXT 9418.T	Japan	$2.04B	+17%	+20%	6%	17.6×	0.4%	+17.7%
Telefonica TEF.MC	Spain	$21.4B	-16%	-11%	5%	10.8×	11.7%	-4.0%

Questions

Who are ASR Microelectronics's main competitors?: Named competitors: MediaTek (2454.TW), Qualcomm (QCOM), UNISOC (private or unlisted), Nordic Semiconductor (NOD.OL), Sequans Communications (private or unlisted). The cockpit's measured peer set (industry) also includes Infrastrutture Wireless Italiane (INW.MI), 1&1 (1U1.DE), Iridium Communications (IRDM), PLDT, Inc. Sponsored ADR (PHI), AST SpaceMobile (ASTS), China Satellite Communications (601698.SS).
Is ASR Microelectronics expensive compared with its peers?: On forward p/e it trades at 170.1× against a peer median of 18.5×, most expensive of 11 in its peer set.
How has ASR Microelectronics stock performed?: Over six months to 6 Nov 2026 the shares returned +5.6% against -7.5% for the median peer; over one year +14.5%.