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Chinese fabless designer of NOR flash and other non-volatile memory chips.
Chinese fabless designer of NOR flash and other non-volatile memory chips.
Designs memory chips and pays outside foundries to make them, then sells the finished parts to makers of consumer, IoT and car electronics. Because NOR flash chips from different suppliers are largely interchangeable, earnings track memory-cycle pricing and volumes more than product differences.
In one line: A small Chinese Winbond/Macronix.
Moat: narrow (process know-how, IP / patents). Memory design IP is real but NOR flash is a commodity market dominated by larger scaled rivals.
Headquarters: China · Employees: 191
Size Zbit Semiconductor (688416.SS) is a China Information Technology company (Electronic Components) with a market value of $798M, the 2768th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥49.71 on 6 Nov 2026.
Performance Over six months the shares fell 33.5%, against -16.2% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 122.4% over the last twelve months (peer median +12.7%); the operating margin is 19.3% (peer median 6.5%).
Valuation It trades at 27.3× forward earnings against a peer median of 16.3× (4th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 31% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is +17 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 4.1 points above its cost of capital (15.7% WACC).
Next results Next results expected around 4 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥922M | CN¥475M | CN¥372M | CN¥306M | CN¥433M |
| Revenue growth | — | +27% | +22% | -29% | — |
| Gross profit | CN¥383M | CN¥67.5M | CN¥34.5M | CN¥29.6M | CN¥106M |
| EBITDA | n/a | -CN¥98.9M | -CN¥173M | -CN¥185M | CN¥8.15M |
| Net income | CN¥198M | -CN¥99.5M | -CN¥161M | -CN¥173M | CN¥21.2M |
| Free cash flow | CN¥106M | CN¥109M | -CN¥131M | -CN¥166M | -CN¥462M |
| Capital expenditure | CN¥9.79M | CN¥11.6M | CN¥22.3M | CN¥10.0M | CN¥313M |
| Total debt | CN¥5.13M | CN¥8.99M | CN¥32.0M | CN¥4.76M | CN¥1.56M |
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 |
|---|---|---|---|---|---|---|
| Zbit Semiconductor 688416.SS | $798M | -34% | +122% | 19% | 27.3× | 30.7% |
| Winbond Electronic 2344.TW | $16.4B | +22% | +154% | 43% | 2.8× | 0.6% |
| Macronix International 2337.TW | $4.52B | -53% | +127% | 38% | 1.8× | -7.5% |
| Giga Device Semiconductor 603986.SS | $25.3B | -23% | +166% | 50% | 10.9× | 16.5% |
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 | 688416.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -25.8% | -18.0% | 7th lowest of 21 |
| 6-month return | -33.5% | -16.2% | 5th lowest of 21 |
| Distance from 52-week high | -65.7% | -43.3% | 3rd lowest of 21 |
| Revenue growth (TTM) | +122.4% | +12.7% | highest of 21 |
| Operating margin | 19.3% | 6.5% | 3rd highest of 21 |
| Forward P/E | 27.3× | 16.3× | 4th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 30.7% | 19.8% | 3rd most demanding of 14 |
| Growth delivered (Del g) | +13.5% | +10.7% | 7th highest of 14 |
| Hurdle (Req g minus delivered) | +17.1 pp | +7.0 pp | 4th most demanding of 14 |
| ROIC minus cost of capital | +4.1 pp | -0.1 pp | 6th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zbit Semiconductor 688416.SS | China | $798M | -34% | +122% | 19% | 27.3× | 30.7% | +13.5% |
| Jutze Intelligent Technology 300802.SZ | China | $801M | -6% | +18% | 12% | 39.4× | 32.6% | +10.0% |
| Shenzhen Xunjiexing Technology 688655.SS | China | $810M | -13% | +70% | 0% | n/a | n/a | n/a |
| Jiangsu Allfavor Intelligent Circuits Technology 300964.SZ | China | $821M | +1% | +78% | 8% | n/a | n/a | n/a |
| Hexatronic HTRO.ST | Sweden | $821M | -17% | +7% | 6% | 15.0× | 12.9% | +28.3% |
| Basler BSL.DE | Germany | $823M | -7% | +31% | 15% | 19.1× | 23.8% | +5.7% |
| Megachips 6875.T | Japan | $772M | -17% | +2% | 1% | 3.4× | n/a | n/a |
| LEM LEHN.SW | Switzerland | $768M | +74% | -6% | 9% | 20.0× | 6.4% | -0.9% |
| Shenzhen Jingquanhua Electronics 002885.SZ | China | $840M | -34% | +9% | 4% | n/a | 27.6% | +20.6% |
| Nichicon 6996.T | Japan | $758M | -27% | 0% | 5% | 13.0× | 15.3% | +7.9% |
| Cicor Technologies CICN.SW | Switzerland | $758M | -6% | +26% | 4% | 18.2× | 5.8% | +23.5% |
| Dynamic 3715.TW | Taiwan | $846M | -50% | +43% | 5% | 16.3× | n/a | n/a |
| Ji'an Mankun Technology 301132.SZ | China | $751M | +38% | +32% | 9% | n/a | n/a | n/a |
| Lelon Electronics 2472.TW | Taiwan | $750M | -20% | +10% | 20% | 10.9× | 8.2% | +7.6% |
| ASRock 3515.TW | Taiwan | $747M | -16% | +29% | 7% | 8.9× | n/a | n/a |
| Qingdao Eastsoft Communication Technology 300183.SZ | China | $745M | -23% | +4% | -6% | n/a | n/a | n/a |
| Anhui Tongfeng Electronics 600237.SS | China | $714M | -15% | -6% | 10% | 32.8× | 19.8% | +10.7% |
| Isvision (Hangzhou) Technology 688816.SS | China | $713M | -23% | +14% | 11% | n/a | 27.0% | +26.3% |
| Highbroad Advanced Material (Hefei) 301321.SZ | China | $902M | +28% | +22% | 0% | n/a | 35.6% | +5.8% |
| Shenzhen Click Technology 002782.SZ | China | $903M | -36% | +10% | 3% | 13.9× | 18.2% | +34.0% |
| Qingdao NovelBeam Technology 688677.SS | China | $904M | -54% | +11% | 28% | 30.4× | 22.1% | +17.0% |