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Fabless Chinese designer of analog integrated circuits, including op-amps, signal-chain and power-management chips.
Fabless Chinese designer of analog integrated circuits, including op-amps, signal-chain and power-management chips.
Designs analog chips, which handle real-world signals such as sound, temperature and power, and relies on outside factories to make them, so income comes from the volume and mix of parts that win places in customers' designs. Chinese buyers' push to replace imports from US and European makers is its main pull.
In one line: China's Texas Instruments/Analog Devices (fabless).
Moat: narrow (IP / patents, process know-how). Analog design expertise and a growing product portfolio support import-substitution positioning.
Headquarters: Shanghai, China · Founded: 2008 · Employees: 877
Size 3Peak (688536.SS) is a China Information Technology company (Electronic Production Equipment) with a market value of $5.26B, the 483rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥253.98 on 6 Nov 2026.
Performance Over six months the shares fell 5.3%, against -26.0% for the median peer and -16.4% for the China market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 73.7% over the last twelve months (peer median +20.6%); the operating margin is 16.0% (peer median 6.8%).
Valuation It trades at 50.7× forward earnings against a peer median of 19.8× (2nd most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 46% a year for seven years (Req g). Recent delivered growth is +31%, so the hurdle is +15 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 2.4 points below its cost of capital (14.7% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.30B | CN¥2.14B | CN¥1.22B | CN¥1.09B | CN¥1.77B |
| Revenue growth | — | +76% | +12% | -38% | — |
| Gross profit | CN¥1.66B | CN¥916M | CN¥496M | CN¥476M | CN¥987M |
| EBITDA | n/a | CN¥227M | -CN¥190M | -CN¥93.5M | CN¥222M |
| Net income | CN¥657M | CN¥173M | -CN¥197M | -CN¥34.7M | CN¥267M |
| Free cash flow | CN¥346M | CN¥18.2M | -CN¥62.8M | -CN¥335M | CN¥403M |
| Capital expenditure | CN¥292M | CN¥189M | CN¥213M | CN¥234M | CN¥184M |
| Total debt | CN¥110M | CN¥67.7M | CN¥376M | CN¥54.7M | CN¥55.3M |
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 |
|---|---|---|---|---|---|---|
| 3Peak 688536.SS | $5.26B | -5% | +74% | 16% | 50.7× | 46.0% |
| Texas Instruments TXN | $253B | -4% | +20% | 41% | 24.6× | 23.3% |
| Analog Devices ADI | $176B | -13% | +34% | 36% | 22.4× | 27.8% |
| StarPower Semiconductor 603290.SS | $2.50B | -33% | +4% | 1% | 76.8× | 26.3% |
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 | 688536.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.3% | -24.2% | 8th highest of 21 |
| 6-month return | -5.3% | -26.0% | 7th highest of 21 |
| Distance from 52-week high | -32.4% | -49.6% | 4th highest of 21 |
| Revenue growth (TTM) | +73.7% | +20.6% | highest of 21 |
| Operating margin | 16.0% | 6.8% | 6th highest of 21 |
| Forward P/E | 50.7× | 19.8× | 2nd most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 46.0% | 14.6% | most demanding of 15 |
| Growth delivered (Del g) | +30.6% | +9.3% | 2nd highest of 15 |
| Hurdle (Req g minus delivered) | +15.4 pp | +4.6 pp | 4th most demanding of 15 |
| ROIC minus cost of capital | -2.4 pp | +1.2 pp | 5th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 3Peak 688536.SS | China | $5.26B | -5% | +74% | 16% | 50.7× | 46.0% | +30.6% |
| Plexus PLXS | United States | $5.12B | -28% | +23% | 5% | 17.9× | n/a | n/a |
| Guangdong Fenghua Advanced Technology (Holding) 000636.SZ | China | $5.42B | +26% | +36% | 8% | 45.0× | 28.6% | +5.9% |
| Asmpt 0522.HK | Hong Kong | $5.02B | -47% | +21% | 9% | 20.4× | 12.1% | -1.3% |
| AAC Technologies 2018.HK | Hong Kong | $5.60B | -4% | +16% | 8% | 13.8× | 1.2% | +12.4% |
| Guobo Electronics 688375.SS | China | $5.61B | -49% | -12% | 13% | 83.0× | 39.7% | +1.4% |
| Lagercrantz LAGR-B.ST | Sweden | $4.72B | -6% | +17% | 15% | 30.8× | 20.6% | +21.0% |
| Quectel Wireless Solutions 603236.SS | China | $4.71B | +50% | +30% | 5% | 21.1× | n/a | n/a |
| MDA Space MDA.TO | Canada | $4.65B | -14% | +38% | 5% | 28.1× | n/a | n/a |
| LG Innotek 011070.KS | South Korea | $4.62B | -54% | +20% | 4% | 9.6× | -0.3% | +18.1% |
| Shenzhen Sunlord Electronics 002138.SZ | China | $4.55B | +11% | +20% | 16% | 24.4× | 14.5% | +14.2% |
| BYD Electronic 0285.HK | Hong Kong | $6.15B | -24% | +4% | 1% | 19.5× | -0.8% | +18.8% |
| JoulWatt Technology 688141.SS | China | $4.44B | -30% | +50% | -28% | n/a | n/a | n/a |
| Universal Scientific Industrial (Shanghai) 601231.SS | China | $6.50B | -52% | +4% | 3% | 19.6× | n/a | n/a |
| Universal Display OLED | United States | $3.98B | -4% | -2% | 35% | 19.6× | 14.3% | +8.7% |
| Sanmina SANM | United States | $7.22B | -46% | +59% | 5% | 10.7× | 6.8% | +3.2% |
| Jones Tech 300684.SZ | China | $3.83B | +20% | +15% | 20% | 45.3× | 42.9% | +9.8% |
| Changsha Jingjia Microelectronics 300474.SZ | China | $3.59B | -30% | +50% | -77% | n/a | n/a | n/a |
| Vishay Intertechnology VSH | United States | $3.57B | -32% | +18% | 5% | 13.2× | 18.8% | +4.2% |
| Fositek 6805.TW | Taiwan | $3.50B | -15% | +46% | 27% | 20.0× | 14.7% | +41.1% |
| Advanced Energy Industries AEIS | United States | $7.98B | -45% | +32% | 17% | 11.7× | 17.8% | +4.9% |