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Chinese maker of automated packaging equipment (die bonders, dispensers) for LED and semiconductor chip assembly.
Chinese maker of automated packaging equipment (die bonders, dispensers) for LED and semiconductor chip assembly.
Sells production machines in capital orders, so revenue rises in bursts when LED and display makers add capacity, for example for Mini-LED backlights and direct-view screens, and fades when they pause.
Moat: narrow (process know-how, customer qualification). Equipment must be qualified into customers' chip-packaging lines, creating switching friction.
Headquarters: Shenzhen, China · Employees: 1,504
Size Shenzhen Xinyichang Technology (688383.SS) is a China Industrials company (Industrial Machinery) with a market value of $1.16B, the 2037th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥76.06 on 6 Nov 2026.
Performance Over six months the shares fell 24.8%, against -26.4% for the median peer and -16.4% for the China market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 34.0% over the last twelve months (peer median +8.5%); the operating margin is -8.8% (peer median 3.7%).
Valuation It trades at 56.3× forward earnings against a peer median of 31.8× (3rd most expensive of 15).
Capital Return on invested capital runs 13.5 points below its cost of capital (11.4% WACC).
Next results Next results expected around 4 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.01B | CN¥722M | CN¥929M | CN¥1.03B | CN¥1.18B |
| Revenue growth | — | -22% | -10% | -12% | — |
| Gross profit | CN¥339M | CN¥193M | CN¥271M | CN¥294M | CN¥501M |
| EBITDA | n/a | -CN¥105M | CN¥76.6M | CN¥101M | CN¥246M |
| Net income | -CN¥70.2M | -CN¥127M | CN¥40.5M | CN¥60.3M | CN¥205M |
| Free cash flow | -CN¥226M | -CN¥105M | CN¥10.3M | -CN¥243M | -CN¥322M |
| Capital expenditure | CN¥145M | CN¥143M | CN¥129M | CN¥242M | CN¥53.0M |
| Total debt | CN¥1.17B | CN¥1.10B | CN¥894M | CN¥798M | CN¥697M |
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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 | 688383.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -36.2% | -13.6% | 4th lowest of 21 |
| 6-month return | -24.8% | -26.4% | 10th highest of 21 |
| Distance from 52-week high | -62.9% | -46.0% | 6th lowest of 21 |
| Revenue growth (TTM) | +34.0% | +8.5% | 7th highest of 21 |
| Operating margin | -8.8% | 3.7% | 4th lowest of 21 |
| Forward P/E | 56.3× | 31.8× | 3rd most expensive of 15 |
| ROIC minus cost of capital | -13.5 pp | -4.9 pp | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Xinyichang Technology 688383.SS | China | $1.16B | -25% | +34% | -9% | 56.3× | n/a | n/a |
| KSB KSB.NS | India | $1.16B | -30% | +8% | 10% | 38.8× | 35.3% | +17.5% |
| Shanghai Step Electric 002527.SZ | China | $1.16B | -21% | 0% | -2% | 78.3× | n/a | n/a |
| Jiangsu Bide Science & Technology 605298.SS | China | $1.16B | -30% | -4% | 15% | n/a | 40.4% | +10.1% |
| YAPP Automotive Systems 603013.SS | China | $1.16B | -25% | -1% | 7% | 12.0× | -9.1% | +0.7% |
| Guangdong Lyric Robot Automation 688499.SS | China | $1.17B | -15% | +37% | 1% | 51.7× | n/a | n/a |
| Suzhou Gyz Electronic Technology 688260.SS | China | $1.17B | +96% | +56% | -13% | n/a | n/a | n/a |
| Jiangsu Rongtai Industry 605133.SS | China | $1.15B | -17% | +51% | 6% | 33.5× | n/a | n/a |
| Shenzhen iN-Cube Automation 301312.SZ | China | $1.18B | -43% | +18% | 6% | 78.2× | n/a | n/a |
| EFORT Intelligent Robot 688165.SS | China | $1.18B | -18% | +12% | -48% | n/a | n/a | n/a |
| Jingjin Equipment 603279.SS | China | $1.13B | -28% | +6% | 9% | 14.0× | -8.4% | +11.9% |
| Guangdong Anda Automation Solutions 688125.SS | China | $1.19B | -55% | +56% | 2% | 41.0× | n/a | n/a |
| SVG 300331.SZ | China | $1.19B | -42% | +6% | 2% | n/a | 46.0% | +8.1% |
| Hunan Meihu Intelligent Manufacturing 603319.SS | China | $1.13B | -42% | +13% | 3% | 40.4× | n/a | n/a |
| Ariston ARIS.MI | Italy | $1.20B | -17% | +5% | 6% | 8.8× | 0.1% | +10.5% |
| Zhejiang Dayuan Pumps Industry 603757.SS | China | $1.12B | -19% | -8% | 3% | 30.0× | 45.8% | +6.5% |
| Nanfang Pump Industry 300145.SZ | China | $1.12B | -19% | +9% | 4% | 21.8× | 12.7% | +4.6% |
| AA Industrial Belting (Shanghai) 603580.SS | China | $1.12B | +193% | +98% | 0% | n/a | n/a | n/a |
| Union Tool 6278.T | Japan | $1.20B | -41% | +40% | 25% | 14.8× | 22.0% | +12.0% |
| Eugene Technology 084370.KS | South Korea | $1.21B | -43% | +2% | 15% | 12.3× | 16.3% | +11.6% |
| Shuangliang Eco-Energy Systems 600481.SS | China | $1.21B | -36% | -29% | -29% | n/a | n/a | n/a |