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Shaoxing wafer foundry, spun out of SMIC, making IGBTs, MOSFETs, analog ICs, MEMS and MCUs.
Shaoxing wafer foundry, spun out of SMIC, making IGBTs, MOSFETs, analog ICs, MEMS and MCUs.
Contract manufacturer: customers design power and sensor chips and it makes the wafers, charging per wafer. Power devices used in electric vehicles and renewable-energy inverters carry growth, and it has been adding silicon carbide, a newer material for high-voltage EV chips, production.
In one line: A small, specialty-node Chinese foundry - SMIC's power/analog arm.
Moat: narrow (customer qualification, process know-how). SMIC-linked specialty foundry qualified for power/analog processes, but sub-scale vs leaders.
Headquarters: Shaoxing, China · Founded: 2018 · Employees: 5,720
Size United Nova Technology (688469.SS) is a China Information Technology company (Semiconductors) with a market value of $8.92B, the 276th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.15 on 6 Nov 2026.
Performance Over six months the shares gained 3.8%, against -15.1% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue grew 42.4% over the last twelve months (peer median +21.9%); the operating margin is -10.5% (peer median 9.8%).
Valuation It trades at 102.1× forward earnings against a peer median of 19.9× (most expensive of 18).
Capital Return on invested capital runs 3.6 points below its cost of capital (8.1% WACC).
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥10.5B | CN¥8.18B | CN¥6.51B | CN¥5.32B | CN¥4.61B |
| Revenue growth | — | +26% | +22% | +16% | — |
| Gross profit | CN¥4.38B | -CN¥94.8M | -CN¥611M | -CN¥945M | -CN¥206M |
| EBITDA | n/a | CN¥1.43B | CN¥1.06B | CN¥349M | CN¥516M |
| Net income | CN¥558M | -CN¥595M | -CN¥962M | -CN¥1.96B | -CN¥1.09B |
| Free cash flow | -CN¥560M | -CN¥1.15B | -CN¥1.65B | -CN¥7.70B | -CN¥9.35B |
| Capital expenditure | CN¥4.51B | CN¥3.33B | CN¥3.56B | CN¥10.3B | CN¥10.7B |
| Total debt | CN¥10.8B | CN¥11.2B | CN¥11.1B | CN¥11.5B | CN¥13.5B |
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 |
|---|---|---|---|---|---|---|
| United Nova Technology 688469.SS | $8.92B | +4% | +42% | -10% | 102.1× | n/a |
| SMIC 0981.HK | $76.7B | -41% | +20% | 9% | 32.9× | n/a |
| SJ Semiconductor 688820.SS | $22.9B | -21% | +1% | n/a | 136.4× | n/a |
| Hangzhou Silan Microelectronics 600460.SS | $5.93B | -18% | +12% | 2% | 41.1× | n/a |
| China Resources Microelectronics 688396.SS | $9.72B | -14% | +17% | 10% | 46.9× | 25.7% |
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 | 688469.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.5% | -13.0% | 11th highest of 21 |
| 6-month return | +3.8% | -15.1% | 5th highest of 20 |
| Distance from 52-week high | -36.3% | -49.4% | 6th highest of 21 |
| Revenue growth (TTM) | +42.4% | +21.9% | 5th highest of 21 |
| Operating margin | -10.5% | 9.8% | 4th lowest of 21 |
| Forward P/E | 102.1× | 19.9× | most expensive of 18 |
| ROIC minus cost of capital | -3.6 pp | -2.4 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| United Nova Technology 688469.SS | China | $8.92B | +4% | +42% | -10% | 102.1× | n/a | n/a |
| Nexchip Semiconductor 688249.SS | China | $8.80B | -17% | +14% | 7% | 66.4× | n/a | n/a |
| Novatek Microelectronics 3034.TW | Taiwan | $9.16B | +18% | +2% | 20% | 14.1× | -4.2% | +4.7% |
| Xi'an ESWIN Material Technology 688783.SS | China | $9.34B | -36% | +25% | -25% | n/a | 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% |
| Semtech SMTC | United States | $9.63B | -15% | +18% | 12% | 19.1× | 51.8% | +12.0% |
| China Resources Microelectronics 688396.SS | China | $9.72B | -14% | +17% | 10% | 46.9× | 25.7% | +9.7% |
| 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 |
| Konfoong Materials International 300666.SZ | China | $8.09B | +9% | +35% | 10% | 53.5× | n/a | n/a |
| RMBS RMBS | United States | $7.98B | -42% | +17% | 37% | 19.9× | 24.5% | +23.5% |
| National Silicon Industry 688126.SS | China | $10.2B | 0% | +33% | -41% | n/a | n/a | n/a |
| 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 |
| TongFu Microelectronics 002156.SZ | China | $10.5B | -15% | +21% | 7% | 28.7× | n/a | n/a |
| Powerchip Semiconductor Manufacturing 6770.TW | Taiwan | $7.54B | -5% | +22% | -5% | 7.6× | 11.3% | +0.5% |
| WAAREE Energies WAAREEENER.NS | India | $7.41B | -24% | +75% | 16% | 17.3× | n/a | n/a |
| Silicon Laboratories SLAB | United States | $7.39B | +2% | +22% | -3% | 60.3× | n/a | n/a |
| Alchip Technologies Limitd 3661.TW | Taiwan | $7.35B | -32% | -51% | 23% | 14.4× | n/a | n/a |
| Realtek Semiconductor 2379.TW | Taiwan | $11.0B | +33% | +12% | 11% | 19.9× | 8.4% | +9.6% |