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Shanghai specialty foundry making analog, power and embedded-memory chips for auto, industrial and consumer customers.
Shanghai specialty foundry making analog, power and embedded-memory chips for auto, industrial and consumer customers.
Charges customers per wafer for specialised processes such as embedded memory in microcontrollers and power chips for cars and chargers, so how full its fabs are matters most. It is part of the Shanghai state-controlled Hua Hong group, and the same company is also listed in Hong Kong as 1347.HK.
In one line: China's GlobalFoundries (specialty/mature-node foundry).
Moat: narrow (scale, installed base, customer qualification). One of China's largest specialty foundries with mature-node capacity qualified across auto/industrial customers.
Headquarters: Shanghai, China · Founded: 1997 · Employees: 7,628
Size Hua Hong Grace Semiconductor (688347.SS) is a China Information Technology company (Semiconductors) with a market value of $25.5B, the 72nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥173.12 on 6 Nov 2026.
Performance Over six months the shares gained 22.8%, against -20.5% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue grew 18.2% over the last twelve months (peer median +25.6%); the operating margin is -2.1% (peer median 20.6%).
Valuation It trades at 234.7× forward earnings against a peer median of 16.2× (2nd most expensive of 18).
Capital Return on invested capital runs 13.1 points below its cost of capital (12.7% WACC).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥18.2B | CN¥16.8B | CN¥14.6B | CN¥16.2B | CN¥17.2B |
| Revenue growth | — | +15% | -10% | -6% | — |
| Gross profit | CN¥2.84B | CN¥2.40B | CN¥2.01B | CN¥3.88B | CN¥5.82B |
| EBITDA | CN¥5.29B | CN¥4.55B | CN¥3.12B | CN¥4.79B | CN¥7.20B |
| Net income | CN¥681M | CN¥367M | CN¥388M | CN¥1.94B | CN¥3.09B |
| Free cash flow | -CN¥7.89B | -CN¥7.21B | -CN¥15.9B | -CN¥1.30B | -CN¥1.24B |
| Capital expenditure | CN¥14.9B | CN¥12.6B | CN¥20.2B | CN¥6.42B | CN¥6.91B |
| Total debt | CN¥28.6B | CN¥26.8B | CN¥16.0B | CN¥15.0B | CN¥13.3B |
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 |
|---|---|---|---|---|---|---|
| Hua Hong Grace Semiconductor 688347.SS | $25.5B | +23% | +18% | -2% | 234.7× | n/a |
| SMIC 0981.HK | $76.7B | -41% | +20% | 9% | 32.9× | n/a |
| GlobalFoundries GFS | $21.2B | -48% | +1% | 12% | 16.2× | 24.9% |
| United Micro Electronics 2303.TW | $34.9B | +11% | +13% | 21% | 13.7× | 14.2% |
| Vanguard International Semiconductor 5347.TWO | $6.82B | -22% | +10% | 17% | 17.7× | n/a |
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 | 688347.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.2% | -22.2% | 6th highest of 21 |
| 6-month return | +22.8% | -20.5% | 5th highest of 20 |
| Distance from 52-week high | -58.1% | -52.7% | 8th lowest of 21 |
| Revenue growth (TTM) | +18.2% | +25.6% | 8th lowest of 20 |
| Operating margin | -2.1% | 20.6% | 2nd lowest of 18 |
| Forward P/E | 234.7× | 16.2× | 2nd most expensive of 18 |
| ROIC minus cost of capital | -13.1 pp | +0.3 pp | 2nd lowest of 18 |
| EV / EBITDA | 34.9× | 12.5× | 2nd most expensive of 10 |
| Net debt / EBITDA | -0.5× | -0.4× | 5th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hua Hong Grace Semiconductor 688347.SS | China | $25.5B | +23% | +18% | -2% | 234.7× | n/a | n/a |
| Montage Technology 688008.SS | China | $25.5B | -13% | +33% | 42% | 43.7× | 39.7% | +24.5% |
| Giga Device Semiconductor 603986.SS | China | $25.3B | -23% | +166% | 50% | 10.9× | 16.5% | +15.4% |
| Global Unichip 3443.TW | Taiwan | $25.1B | +29% | +104% | 13% | 50.1× | n/a | n/a |
| Moore Threads Technology 688795.SS | China | $25.1B | -53% | +226% | -9% | n/a | n/a | n/a |
| ON Semiconductor ON | United States | $24.6B | -39% | +3% | 19% | 14.3× | 20.0% | +2.7% |
| Shanghai Enflame Technology 688801.SS | China | $23.8B | n/a | n/a | n/a | n/a | n/a | n/a |
| Renesas Electronics 6723.T | Japan | $27.9B | -23% | +26% | 24% | 9.9× | 12.2% | +13.0% |
| SJ Semiconductor 688820.SS | China | $22.9B | -21% | +1% | n/a | 136.4× | n/a | n/a |
| MetaX Integrated Circuits (Shanghai) 688802.SS | China | $29.5B | -35% | +84% | n/a | 469.5× | n/a | n/a |
| Piotech 688072.SS | China | $21.7B | +23% | +24% | 14% | 55.5× | 43.5% | +71.7% |
| First Solar FSLR | United States | $21.6B | -9% | -1% | 39% | 9.2× | 12.4% | +14.0% |
| GlobalFoundries GFS | United States | $21.2B | -48% | +1% | 12% | 16.2× | 24.9% | +7.0% |
| Microchip Technology MCHP | United States | $31.7B | -41% | +21% | 16% | 14.5× | 34.2% | -2.8% |
| Suzhou TFC Optical Communication 300394.SZ | China | $19.9B | -44% | +26% | 51% | 36.3× | 44.8% | +42.7% |
| Astera Labs ALAB | United States | $33.1B | -5% | +115% | 26% | 28.0× | n/a | n/a |
| Skyworks Solutions SWKS | United States | $19.3B | +24% | -3% | 9% | 14.3× | 39.4% | -5.0% |
| DapuStor 301666.SZ | China | $18.8B | +20% | +611% | 23% | n/a | n/a | n/a |
| United Micro Electronics 2303.TW | Taiwan | $34.9B | +11% | +13% | 21% | 13.7× | 14.2% | +6.1% |
| Nanya Technology 2408.TW | Taiwan | $35.8B | +34% | +586% | 71% | 2.9× | 0.6% | +1.8% |
| STMicroelectronics STMPA.PA | France | $37.7B | -32% | +10% | 7% | 31.4× | 34.0% | +3.1% |