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Shanghai-based power semiconductor company; likely designs power-management or power-discrete chips, but specifics are not confirmed.
Shanghai-based power semiconductor company; likely designs power-management or power-discrete chips, but specifics are not confirmed.
Moat: narrow
Headquarters: Shanghai, China · Employees: 687
Size Shanghai Bright Power Semiconductor (688368.SS) is a China Information Technology company (Semiconductors) with a market value of $2.72B, the 943rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥87.93 on 6 Nov 2026.
Performance Over six months the shares fell 20.2%, against -18.7% for the median peer and -16.4% for the China market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 89.9% over the last twelve months (peer median +25.1%); the operating margin is 6.0% (peer median 9.4%).
Valuation It trades at 85.4× forward earnings against a peer median of 29.2× (most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 54% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +47 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 11.0 points below its cost of capital (15.4% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.91B | CN¥1.57B | CN¥1.50B | CN¥1.30B | CN¥1.08B |
| Revenue growth | — | +4% | +15% | +21% | — |
| Gross profit | CN¥1.14B | CN¥558M | CN¥502M | CN¥283M | CN¥179M |
| EBITDA | n/a | CN¥99.3M | CN¥46.3M | -CN¥22.6M | -CN¥235M |
| Net income | CN¥264M | CN¥35.6M | -CN¥33.1M | -CN¥91.3M | -CN¥206M |
| Free cash flow | CN¥67.2M | CN¥188M | CN¥315M | CN¥250M | -CN¥583M |
| Capital expenditure | CN¥35.9M | CN¥19.1M | CN¥16.6M | CN¥23.6M | CN¥190M |
| Total debt | CN¥275M | CN¥452M | CN¥528M | CN¥560M | CN¥676M |
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 |
|---|---|---|---|---|---|---|
| Shanghai Bright Power Semiconductor 688368.SS | $2.72B | -20% | +90% | 6% | 85.4× | 54.1% |
| Hangzhou Silan Microelectronics 600460.SS | $5.93B | -18% | +12% | 2% | 41.1× | n/a |
| POWI POWI | $2.25B | -45% | +2% | 8% | 22.9× | 35.9% |
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 | 688368.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.5% | -25.1% | 9th highest of 21 |
| 6-month return | -20.2% | -18.7% | 11th highest of 21 |
| Distance from 52-week high | -62.0% | -52.9% | 7th lowest of 21 |
| Revenue growth (TTM) | +89.9% | +25.1% | highest of 21 |
| Operating margin | 6.0% | 9.4% | 8th lowest of 21 |
| Forward P/E | 85.4× | 29.2× | most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 54.1% | 18.6% | most demanding of 11 |
| Growth delivered (Del g) | +7.3% | +13.2% | 2nd lowest of 11 |
| Hurdle (Req g minus delivered) | +46.8 pp | -2.2 pp | most demanding of 11 |
| ROIC minus cost of capital | -11.0 pp | -0.5 pp | 5th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Bright Power Semiconductor 688368.SS | China | $2.72B | -20% | +90% | 6% | 85.4× | 54.1% | +7.3% |
| Maxio Technology (Hangzhou) 688449.SS | China | $2.71B | -29% | +40% | 5% | 37.7× | n/a | n/a |
| Simmtech 222800.KS | South Korea | $2.69B | +7% | +42% | 9% | 18.7× | n/a | n/a |
| Topco Scientific 5434.TW | Taiwan | $2.68B | +11% | +21% | 7% | 14.3× | 3.8% | +13.3% |
| IPG Photonics IPGP | United States | $2.78B | -38% | +15% | 5% | 32.8× | 24.8% | -3.5% |
| Sino-American Silicon Products 5483.TWO | Taiwan | $2.80B | 0% | -1% | 12% | 15.8× | n/a | n/a |
| Leeno Industrial 058470.KS | South Korea | $2.60B | -61% | +24% | 49% | 19.4× | 6.3% | +13.1% |
| Asmedia Technology 5269.TW | Taiwan | $2.60B | -14% | +38% | 25% | 12.5× | 12.3% | +14.0% |
| Ambarella AMBA | United States | $2.58B | -23% | +20% | -15% | 66.0× | n/a | n/a |
| OUST OUST | United States | $2.54B | +38% | +64% | -29% | n/a | n/a | n/a |
| PENG PENG | United States | $2.52B | -5% | +26% | 10% | 9.2× | n/a | n/a |
| StarPower Semiconductor 603290.SS | China | $2.50B | -33% | +4% | 1% | 76.8× | 26.3% | +33.0% |
| AP Memory Technology 6531.TW | Taiwan | $2.99B | -35% | +63% | 29% | 27.0× | 34.1% | +9.8% |
| Great Microwave Technology 688270.SS | China | $2.46B | -41% | +8% | 32% | 69.6× | 48.7% | +23.2% |
| InnoScience (Suzhou) Technology 2577.HK | Hong Kong | $3.03B | -63% | +56% | -49% | n/a | n/a | n/a |
| Gpixel Changchun Microelectronics 3277.HK | Hong Kong | $2.45B | -48% | +27% | 33% | 28.0× | 6.9% | +9.7% |
| Wuxi NCE Power 605111.SS | China | $2.45B | -3% | +28% | 19% | 30.4× | 27.2% | +14.5% |
| Hefei Chipmore Technology 688352.SS | China | $2.45B | +7% | -1% | 7% | 53.1× | n/a | n/a |
| Shanghai Awinic Technology 688798.SS | China | $3.04B | -9% | +2% | 1% | 39.5× | n/a | n/a |
| Xintec 3374.TWO | Taiwan | $3.08B | +88% | +17% | 23% | 36.2× | n/a | n/a |
| DB HiTek 000990.KS | South Korea | $2.41B | -48% | +29% | 21% | 8.9× | 2.3% | +8.3% |