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Nanjing maker of active phased-array radar T/R modules and RF chips, a China Electronics Technology Group (CETC) company.
Nanjing maker of active phased-array radar T/R modules and RF chips, a China Electronics Technology Group (CETC) company.
Makes the T/R (transmit-receive) modules that form each element of an active phased-array radar, selling mainly to radar system makers and research institutes, so deliveries follow defence programmes and are lumpy. It also sells RF modules and chips, and low-orbit satellite and commercial-space programmes are a newer source of volume. It is part of the CETC state electronics group.
Moat: narrow (customer qualification, process know-how). Compound-semiconductor process know-how and defence qualifications; sales depend on a few system customers.
Headquarters: Nanjing, China · Employees: 1,776
Size Guobo Electronics (688375.SS) is a China Information Technology company (Electronic Production Equipment) with a market value of $5.61B, the 448th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥62.81 on 6 Nov 2026.
Performance Over six months the shares fell 48.7%, against -19.7% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue fell 11.8% over the last twelve months (peer median +22.2%); the operating margin is 12.9% (peer median 6.8%).
Valuation It trades at 83.0× forward earnings against a peer median of 19.8× (most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 40% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is +38 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 2.2 points below its cost of capital (9.5% WACC).
Next results Next results expected around 9 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.07B | CN¥2.38B | CN¥2.58B | CN¥3.55B | CN¥3.45B |
| Revenue growth | — | -8% | -27% | +3% | — |
| Gross profit | CN¥1.00B | CN¥906M | CN¥911M | CN¥1.08B | CN¥1.02B |
| EBITDA | n/a | CN¥781M | CN¥714M | CN¥780M | CN¥646M |
| Net income | CN¥339M | CN¥508M | CN¥485M | CN¥606M | CN¥520M |
| Free cash flow | CN¥635M | CN¥517M | -CN¥58.9M | CN¥191M | -CN¥689M |
| Capital expenditure | CN¥226M | CN¥374M | CN¥335M | CN¥659M | CN¥506M |
| Total debt | CN¥686M | CN¥539M | CN¥824M | CN¥1.14B | CN¥1.04B |
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 |
|---|---|---|---|---|---|---|
| Guobo Electronics 688375.SS | $5.61B | -49% | -12% | 13% | 83.0× | 39.7% |
| Zhejiang Chengchang Technology 001270.SZ | $1.34B | -37% | -1% | 27% | 100.9× | 44.0% |
| Great Microwave Technology 688270.SS | $2.46B | -41% | +8% | 32% | 69.6× | 48.7% |
| Qorvo QRVO | n/a | +45% | n/a | n/a | n/a | 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 | 688375.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.2% | -24.2% | 7th highest of 21 |
| 6-month return | -48.7% | -19.7% | 3rd lowest of 21 |
| Distance from 52-week high | -64.8% | -46.8% | 4th lowest of 21 |
| Revenue growth (TTM) | -11.8% | +22.2% | lowest of 21 |
| Operating margin | 12.9% | 6.8% | 8th highest of 21 |
| Forward P/E | 83.0× | 19.8× | most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 39.7% | 14.6% | 3rd most demanding of 15 |
| Growth delivered (Del g) | +1.4% | +11.1% | 2nd lowest of 15 |
| Hurdle (Req g minus delivered) | +38.3 pp | +4.6 pp | most demanding of 15 |
| ROIC minus cost of capital | -2.2 pp | +1.2 pp | 6th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guobo Electronics 688375.SS | China | $5.61B | -49% | -12% | 13% | 83.0× | 39.7% | +1.4% |
| AAC Technologies 2018.HK | Hong Kong | $5.60B | -4% | +16% | 8% | 13.8× | 1.2% | +12.4% |
| Guangdong Fenghua Advanced Technology (Holding) 000636.SZ | China | $5.42B | +26% | +36% | 8% | 45.0× | 28.6% | +5.9% |
| 3Peak 688536.SS | China | $5.26B | -5% | +74% | 16% | 50.7× | 46.0% | +30.6% |
| BYD Electronic 0285.HK | Hong Kong | $6.15B | -24% | +4% | 1% | 19.5× | -0.8% | +18.8% |
| Plexus PLXS | United States | $5.12B | -28% | +23% | 5% | 17.9× | n/a | n/a |
| Asmpt 0522.HK | Hong Kong | $5.02B | -47% | +21% | 9% | 20.4× | 12.1% | -1.3% |
| Universal Scientific Industrial (Shanghai) 601231.SS | China | $6.50B | -52% | +4% | 3% | 19.6× | n/a | n/a |
| Lagercrantz LAGR-B.ST | Sweden | $4.72B | -6% | +17% | 15% | 30.8× | 20.6% | +21.0% |
| Quectel Wireless Solutions 603236.SS | China | $4.71B | +50% | +30% | 5% | 21.1× | n/a | n/a |
| MDA Space MDA.TO | Canada | $4.65B | -14% | +38% | 5% | 28.1× | n/a | n/a |
| LG Innotek 011070.KS | South Korea | $4.62B | -54% | +20% | 4% | 9.6× | -0.3% | +18.1% |
| Shenzhen Sunlord Electronics 002138.SZ | China | $4.55B | +11% | +20% | 16% | 24.4× | 14.5% | +14.2% |
| JoulWatt Technology 688141.SS | China | $4.44B | -30% | +50% | -28% | n/a | n/a | n/a |
| Sanmina SANM | United States | $7.22B | -46% | +59% | 5% | 10.7× | 6.8% | +3.2% |
| Universal Display OLED | United States | $3.98B | -4% | -2% | 35% | 19.6× | 14.3% | +8.7% |
| Advanced Energy Industries AEIS | United States | $7.98B | -45% | +32% | 17% | 11.7× | 17.8% | +4.9% |
| Jones Tech 300684.SZ | China | $3.83B | +20% | +15% | 20% | 45.3× | 42.9% | +9.8% |
| Changsha Jingjia Microelectronics 300474.SZ | China | $3.59B | -30% | +50% | -77% | n/a | n/a | n/a |
| Vishay Intertechnology VSH | United States | $3.57B | -32% | +18% | 5% | 13.2× | 18.8% | +4.2% |
| Fositek 6805.TW | Taiwan | $3.50B | -15% | +46% | 27% | 20.0× | 14.7% | +41.1% |