Who are China Resources Microelectronics's main competitors?

Named competitors: StarPower Semiconductor (603290.SS), Wingtech Technology (Nexperia) (600745.SS), Infineon Technologies (IFX.DE), ON Semiconductor (ON). The cockpit's measured peer set (industry) also includes Semtech (SMTC), Nexchip Semiconductor (2249.HK), Xi'an ESWIN Material Technology (688783.SS), National Silicon Industry (688126.SS), Novatek Microelectronics (3034.TW), TongFu Microelectronics (002156.SZ).

How has China Resources Microelectronics stock performed?

Over six months to 6 Nov 2026 the shares returned -13.8% against -15.3% for the median peer; over one year -7.1%.

← CockpitCompetitor Analysis › 688396.SS China Resources Microelectronics Ltd. Class AOpen in the cockpit ↗

China Resources Microelectronics Ltd. Class A688396.SSCompetitor analysis, valuation and peers

China · CNY·Information Technology›Semiconductors

State-backed maker of power semiconductors and MOSFETs plus a foundry business for third-party chip designers.

≈ China's answer to ON Semiconductor/Infineon in power discretesMomentum strong 62

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$9.72B

US dollars, full cap

Free float

28%

of shares outstanding

$/day

$110M

20-day average traded

Fwd P/E

46.9×

forward earnings

ROIC−WACC

-2.7 pp

WACC 12.4%

Hurdle

+16 pp

Req g minus delivered

Next earnings

168 days

23 Apr 2027

Close · CNYCN¥48.81

1D-3.8%

1W+8.2%

1M-6.2%

3M-5.8%

6M-13.8%

YTD-7.7%

1Y-7.1%

ATR %5.4%

52w lowhigh52.1% off high

What China Resources Microelectronics does

State-backed maker of power semiconductors and MOSFETs plus a foundry business for third-party chip designers.

Is an integrated maker: it designs its own power chips and also runs the factories that make them, selling both finished chips and wafer-manufacturing capacity to outside designers. China Resources, a state-owned conglomerate, controls it.

In one line: China's answer to ON Semiconductor/Infineon in power discretes.

Products and services

Power MOSFETs/IGBTs
Analog & power management ICs
Foundry services (wafer manufacturing for others)

Customers

Consumer electronics makers
Automotive/industrial power-electronics makers
Fabless chip designers (foundry customers)

Where it sits in the supply chain

Semiconductors
Power semiconductors & foundry
Power discretes (MOSFET, IGBT), analog…

What could go right

EV/renewable-energy power semiconductor demand
China power-chip localization push

What could go wrong

Power semiconductor pricing competition
Cyclical consumer/auto electronics demand

Moat: narrow (scale, distribution, installed base). Backed by state conglomerate China Resources, with an integrated design-and-foundry model in power semiconductors.

Headquarters: Wuxi, China · Employees: 11,626

Named competitors

StarPower Semiconductor 603290.SS
Wingtech Technology (Nexperia) 600745.SS
Infineon Technologies IFX.DE
ON Semiconductor ON

China Resources Microelectronics at a glance

Size China Resources Microelectronics (688396.SS) is a China Information Technology company (Semiconductors) with a market value of $9.72B, the 258th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥48.81 on 6 Nov 2026.

Performance Over six months the shares fell 13.8%, against -15.3% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 18 in its peer set.

Growth Revenue grew 16.9% over the last twelve months (peer median +34.1%); the operating margin is 9.8% (peer median 10.1%).

Valuation It trades at 46.9× forward earnings against a peer median of 19.9× (6th most expensive of 17).

Price implies For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +16 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 2.7 points below its cost of capital (12.4% WACC).

Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: China Resources Microelectronics against the median of its 20 peers (local-currency closes).

China Resources Microelectronics financials

Reported figures in CNY; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	CN¥12.5B	CN¥11.0B	CN¥10.0B	CN¥9.85B	CN¥10.00B
Revenue growth	—	+10%	+2%	-1%	—
Gross profit	CN¥4.27B	CN¥2.62B	CN¥2.42B	CN¥2.93B	CN¥3.43B
EBITDA	n/a	CN¥2.28B	CN¥2.09B	CN¥2.17B	CN¥2.86B
Net income	CN¥1.11B	CN¥661M	CN¥762M	CN¥1.48B	CN¥2.62B
Free cash flow	CN¥1.45B	CN¥580M	CN¥467M	-CN¥3.47B	CN¥948M
Capital expenditure	CN¥1.43B	CN¥1.51B	CN¥1.57B	CN¥5.20B	CN¥2.13B
Total debt	CN¥197M	CN¥384M	CN¥230M	CN¥1.40B	CN¥1.46B

Quarterly statements and history in the cockpit →

China Resources Microelectronics competitor charts

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.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. China Resources Microelectronics is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. China Resources Microelectronics is the large dot.

Capital: growth delivered against growth the price implies

Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. China Resources Microelectronics is the large dot.

China Resources Microelectronics competitors and peer comparison

Head to head with its named competitors (688396.SS vs 603290.SS vs 600745.SS vs IFX.DE)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
China Resources Microelectronics 688396.SS	$9.72B	-14%	+17%	10%	46.9×	25.7%
StarPower Semiconductor 603290.SS	$2.50B	-33%	+4%	1%	76.8×	26.3%
Wingtech Technology 600745.SS	$2.26B	-59%	-93%	-30%	n/a	n/a
Infineon Technologies IFX.DE	$66.8B	-33%	+6%	13%	26.0×	30.2%
ON Semiconductor ON	$24.6B	-39%	+3%	19%	14.3×	20.0%

How China Resources Microelectronics compares with its peers

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.

China Resources Microelectronics against its 20 peers (data as of 6 Nov 2026)
Measure	688396.SS	Peer median	Rank in peer set
1-month return	-6.2%	-21.4%	3rd highest of 20
6-month return	-13.8%	-15.3%	8th highest of 18
Distance from 52-week high	-52.1%	-50.9%	11th highest of 21
Revenue growth (TTM)	+16.9%	+34.1%	4th lowest of 21
Operating margin	9.8%	10.1%	10th lowest of 21
Forward P/E	46.9×	19.9×	6th most expensive of 17
Growth the price implies (Req g, 7 yrs)	25.7%	24.5%	4th most demanding of 8
Growth delivered (Del g)	+9.7%	+15.9%	3rd lowest of 8
Hurdle (Req g minus delivered)	+16.0 pp	+1.0 pp	3rd most demanding of 8
ROIC minus cost of capital	-2.7 pp	+0.6 pp	10th lowest of 21

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
China Resources Microelectronics 688396.SS	China	$9.72B	-14%	+17%	10%	46.9×	25.7%	+9.7%
Semtech SMTC	United States	$9.63B	-15%	+18%	12%	19.1×	51.8%	+12.0%
Nexchip Semiconductor 2249.HK	Hong Kong	$9.55B	n/a	+20%	7%	50.2×	n/a	n/a
Xi'an ESWIN Material Technology 688783.SS	China	$9.34B	-36%	+25%	-25%	n/a	n/a	n/a
National Silicon Industry 688126.SS	China	$10.2B	0%	+33%	-41%	n/a	n/a	n/a
Novatek Microelectronics 3034.TW	Taiwan	$9.16B	+18%	+2%	20%	14.1×	-4.2%	+4.7%
TongFu Microelectronics 002156.SZ	China	$10.5B	-15%	+21%	7%	28.7×	n/a	n/a
United Nova Technology 688469.SS	China	$8.92B	+4%	+42%	-10%	102.1×	n/a	n/a
Realtek Semiconductor 2379.TW	Taiwan	$11.0B	+33%	+12%	11%	19.9×	8.4%	+9.6%
Yuanjie Semiconductor Technology 688498.SS	China	$11.2B	-45%	+300%	64%	60.1×	n/a	n/a
SG Micro 300661.SZ	China	$8.33B	-12%	+46%	17%	55.7×	35.9%	+26.7%
VeriSilicon Microelectronics (Shanghai) 688521.SS	China	$8.31B	-63%	+39%	-23%	n/a	40.5%	+15.9%
Amkor Technology AMKR	United States	$8.13B	-57%	+16%	10%	12.1×	n/a	n/a
Shenzhen Techwinsemi Technology 001309.SZ	China	$8.12B	-64%	+317%	35%	6.7×	n/a	n/a
Fabrinet FN	United States	$11.7B	-47%	+43%	10%	15.6×	n/a	n/a
Konfoong Materials International 300666.SZ	China	$8.09B	+9%	+35%	10%	53.5×	n/a	n/a
Cansemi Technology 301660.SZ	China	$11.8B	n/a	+54%	-99%	n/a	n/a	n/a
RMBS RMBS	United States	$7.98B	-42%	+17%	37%	19.9×	24.5%	+23.5%
Ingenic Semiconductor 3223.HK	Hong Kong	$7.76B	n/a	+100%	35%	10.9×	-3.9%	+16.1%
Tianshui Huatian Technology 002185.SZ	China	$7.74B	+10%	+33%	4%	45.0×	n/a	n/a
Shenzhen Longsys Electronics 301308.SZ	China	$12.3B	-46%	+114%	40%	5.1×	n/a	n/a

Questions

Who are China Resources Microelectronics's main competitors?: Named competitors: StarPower Semiconductor (603290.SS), Wingtech Technology (Nexperia) (600745.SS), Infineon Technologies (IFX.DE), ON Semiconductor (ON). The cockpit's measured peer set (industry) also includes Semtech (SMTC), Nexchip Semiconductor (2249.HK), Xi'an ESWIN Material Technology (688783.SS), National Silicon Industry (688126.SS), Novatek Microelectronics (3034.TW), TongFu Microelectronics (002156.SZ).
Is China Resources Microelectronics expensive compared with its peers?: On forward p/e it trades at 46.9× against a peer median of 19.9×, 6th most expensive of 17 in its peer set. For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +16 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.
How has China Resources Microelectronics stock performed?: Over six months to 6 Nov 2026 the shares returned -13.8% against -15.3% for the median peer; over one year -7.1%.