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Chinese maker of wafer inspection and metrology tools used for quality control in chip fabs.
Chinese maker of wafer inspection and metrology tools used for quality control in chip fabs.
Sells machines that find defects and measure thin films and pattern dimensions on wafers, paid per tool. Demand depends on how many Chinese fabs are equipping new lines and want a domestic supplier in place of overseas vendors such as KLA. Orders come in lumps, and each tool needs a long trial before a fab commits.
In one line: A domestic KLA competitor for China's fabs.
Moat: narrow (customer qualification, process know-how). Process-control tools are qualified into a fab's flow; supports China's push to localize KLA-class equipment.
Headquarters: Shanghai, China · Employees: 1,497
Size Skyverse Technology (688361.SS) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $13.8B, the 175th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥261.88 on 6 Nov 2026.
Performance Over six months the shares gained 33.2%, against -20.6% for the median peer and -16.4% for the China market (cap-weighted) — highest of 20 in its peer set.
Growth Revenue grew 39.3% over the last twelve months (peer median +9.7%); the operating margin is -11.6% (peer median 20.4%).
Valuation It trades at 563.2× forward earnings against a peer median of 24.9× (most expensive of 21).
Capital Return on invested capital runs 14.9 points below its cost of capital (11.9% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.47B | CN¥2.05B | CN¥1.38B | CN¥889M | CN¥509M |
| Revenue growth | — | +49% | +55% | +75% | — |
| Gross profit | CN¥1.20B | CN¥946M | CN¥621M | CN¥393M | CN¥225M |
| EBITDA | n/a | -CN¥22.7M | -CN¥49.3M | CN¥68.7M | -CN¥55.5M |
| Net income | -CN¥21.8M | CN¥58.7M | -CN¥11.5M | CN¥140M | CN¥12.0M |
| Free cash flow | -CN¥1.17B | -CN¥1.43B | -CN¥564M | -CN¥196M | -CN¥49.4M |
| Capital expenditure | CN¥685M | CN¥577M | CN¥266M | CN¥148M | CN¥117M |
| Total debt | CN¥1.54B | CN¥1.23B | CN¥355M | CN¥177M | CN¥279M |
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 |
|---|---|---|---|---|---|---|
| Skyverse Technology 688361.SS | $13.8B | +33% | +39% | -12% | 563.2× | n/a |
| KLA KLAC | $180B | -26% | +16% | 43% | 22.3× | 23.5% |
| Applied Materials AMAT | $264B | -24% | +8% | 31% | 18.8× | 25.5% |
| Advantest 6857.T | $124B | -1% | +48% | 50% | 27.5× | 36.4% |
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 | 688361.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.0% | -8.8% | 7th lowest of 21 |
| 6-month return | +33.2% | -20.6% | highest of 20 |
| Distance from 52-week high | -42.9% | -34.2% | 10th lowest of 21 |
| Revenue growth (TTM) | +39.3% | +9.7% | 5th highest of 20 |
| Operating margin | -11.6% | 20.4% | 2nd lowest of 20 |
| Forward P/E | 563.2× | 24.9× | most expensive of 21 |
| ROIC minus cost of capital | -14.9 pp | +2.6 pp | 2nd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Skyverse Technology 688361.SS | China | $13.8B | +33% | +39% | -12% | 563.2× | n/a | n/a |
| Sieyuan Electric 002028.SZ | China | $13.4B | -42% | +35% | 16% | 23.1× | 11.1% | +23.9% |
| Chroma Ate 2360.TW | Taiwan | $15.4B | -46% | +101% | 39% | 18.5× | 19.3% | +12.8% |
| Halma HLMA.L | United Kingdom | $17.0B | -25% | +15% | 20% | 25.0× | 21.7% | +14.4% |
| Semight Instruments 688808.SS | China | $17.0B | n/a | n/a | n/a | 51.5× | n/a | n/a |
| Hangzhou Changchuan Technology 300604.SZ | China | $17.3B | +4% | +53% | 27% | 46.1× | 43.8% | +45.8% |
| Lasertec 6920.T | Japan | $18.2B | -25% | -19% | 44% | 28.7× | 28.9% | +26.8% |
| NVMI NVMI | United States | $9.96B | -40% | +16% | 29% | 25.0× | 32.8% | +26.7% |
| Hon Precision 7769.TW | Taiwan | $20.0B | -34% | +257% | 48% | 21.3× | 28.2% | +31.0% |
| ONTO ONTO | United States | $8.50B | -39% | +8% | 20% | 16.9× | 29.4% | +12.6% |
| Cognex CGNX | United States | $8.04B | -27% | +17% | 22% | 24.8× | 25.6% | +4.2% |
| Qnity Electronics Q | United States | $24.5B | -21% | +18% | 23% | 20.2× | 22.1% | 0.0% |
| BOE Technology 000725.SZ | China | $25.3B | +9% | -4% | 2% | 21.4× | -3.9% | +8.6% |
| China Railway Signal & Communication 688009.SS | China | $7.39B | 0% | +1% | 12% | 14.9× | -6.3% | -2.9% |
| AVIC Chengdu Aircraft 302132.SZ | China | $28.0B | +4% | +3% | 5% | 49.6× | n/a | n/a |
| Hexagon HEXA-B.ST | Sweden | $29.4B | +14% | -20% | -14% | 30.0× | 9.1% | +8.7% |
| Wuhan Guide Infrared 002414.SZ | China | $6.46B | -32% | +89% | 29% | 37.4× | n/a | n/a |
| Novanta NOVT | United States | $5.11B | -2% | +8% | 12% | 33.9× | 33.5% | +10.7% |
| Legrand LR.PA | France | $38.0B | -16% | +10% | 21% | 22.0× | 15.6% | +9.2% |
| INFICON IFCN.SW | Switzerland | $4.51B | 0% | -2% | 17% | 32.8× | 19.7% | +8.4% |
| Itron ITRI | United States | $4.32B | +20% | -4% | 14% | 14.5× | 9.2% | +1.7% |