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Guangzhou-based microelectronics company; likely designs analog or power-management chips, but specifics are not confirmed.
Guangzhou-based microelectronics company; likely designs analog or power-management chips, but specifics are not confirmed.
Moat: narrow
Headquarters: Guangzhou, China · Employees: 244
Size Smarter Microelectronics (Guangzhou) (688512.SS) is a China Information Technology company (Semiconductors) with a market value of $835M, the 2658th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.29 on 6 Nov 2026.
Performance Over six months the shares fell 11.0%, against -19.0% for the median peer and -16.4% for the China market (cap-weighted) — 7th highest of 19 in its peer set.
Growth Revenue grew 43.4% over the last twelve months (peer median +9.9%); the operating margin is -29.6% (peer median 0.5%).
Valuation It trades at 5.0× enterprise value to sales against a peer median of 4.1× (10th most expensive of 21).
Capital Return on invested capital runs 27.2 points below its cost of capital (11.2% WACC).
Next results Next results expected around 3 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.02B | CN¥807M | CN¥524M | CN¥552M | CN¥357M |
| Revenue growth | — | +54% | -5% | +55% | — |
| Gross profit | CN¥94.4M | CN¥27.4M | -CN¥20.8M | CN¥39.3M | CN¥39.8M |
| EBITDA | n/a | -CN¥285M | -CN¥399M | -CN¥427M | -CN¥353M |
| Net income | -CN¥302M | -CN¥229M | -CN¥438M | -CN¥409M | -CN¥305M |
| Free cash flow | -CN¥500M | -CN¥378M | -CN¥354M | -CN¥250M | -CN¥497M |
| Capital expenditure | CN¥34.1M | CN¥61.6M | CN¥69.2M | CN¥46.5M | CN¥158M |
| Total debt | CN¥460M | CN¥154M | CN¥171M | CN¥39.8M | CN¥9.56M |
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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 | 688512.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -30.9% | -12.8% | 3rd lowest of 21 |
| 6-month return | -11.0% | -19.0% | 7th highest of 19 |
| Distance from 52-week high | -38.3% | -42.8% | 8th highest of 21 |
| Revenue growth (TTM) | +43.4% | +9.9% | 5th highest of 21 |
| Operating margin | -29.6% | 0.5% | 4th lowest of 21 |
| EV / Sales | 5.0× | 4.1× | 10th most expensive of 21 |
| ROIC minus cost of capital | -27.2 pp | -2.5 pp | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Smarter Microelectronics (Guangzhou) 688512.SS | China | $835M | -11% | +43% | -30% | 5.0× | n/a | n/a |
| Etron Technology 5351.TWO | Taiwan | $835M | +13% | +246% | 21% | 2.6× | 3.3% | +2.6% |
| General Interface Solution (GIS) 6456.TW | Taiwan | $824M | 0% | -19% | -3% | 0.3× | n/a | n/a |
| Hangzhou Star Shuaier Electric Appliance 002860.SZ | China | $810M | +16% | -14% | 7% | 2.5× | 19.8% | +18.4% |
| Taiwan Speciality Chemicals 4772.TWO | Taiwan | $862M | -38% | +164% | 40% | 7.8× | 11.0% | +36.7% |
| Everlight Electronics 2393.TW | Taiwan | $807M | -17% | -3% | 10% | 0.8× | -11.7% | -1.9% |
| Episil-Precision 3016.TW | Taiwan | $865M | -10% | +30% | 14% | 5.8× | 40.5% | -0.7% |
| Netac Technology 300042.SZ | China | $872M | -44% | +103% | 10% | 2.7× | n/a | n/a |
| Wuxi ETEK Microelectronics 688601.SS | China | $799M | -25% | +15% | -5% | 5.7× | n/a | n/a |
| VIA Technologies 2388.TW | Taiwan | $874M | -35% | -3% | -12% | 2.5× | 17.9% | +8.0% |
| Arteris AIP | United States | $875M | -44% | +34% | -44% | 9.0× | 55.4% | +17.3% |
| Henan Ancai Hi-Tech 600207.SS | China | $797M | -13% | -41% | -39% | 4.0× | n/a | n/a |
| United Renewable Energy 3576.TW | Taiwan | $876M | +15% | -43% | -62% | 12.2× | n/a | n/a |
| Crealights Technology 1191.HK | Hong Kong | $790M | n/a | +42% | -7% | 4.2× | n/a | n/a |
| Shenzhen Baoming Technology 002992.SZ | China | $887M | -38% | -20% | -1% | 5.8× | n/a | n/a |
| Infotmic 000670.SZ | China | $782M | -18% | +38% | 2% | 1.1× | n/a | n/a |
| Sitronix Technology 8016.TW | Taiwan | $894M | +5% | +18% | 13% | 1.0× | -9.1% | +6.6% |
| PixArt Imaging 3227.TWO | Taiwan | $781M | -20% | +5% | 18% | 2.7× | 0.0% | +2.3% |
| Shenzhen Topray Solar 002218.SZ | China | $779M | -32% | -8% | -17% | 6.7× | 35.9% | -5.6% |
| SENASIC Electronics Technology 6675.HK | Hong Kong | $779M | n/a | +45% | -11% | 8.4× | n/a | n/a |
| Zhejiang Chenfeng Science and Technology 603685.SS | China | $896M | -28% | -14% | 4% | 6.9× | n/a | n/a |