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Shanghai-based maker of silicon wafers, the base material used to fabricate semiconductor chips.
Shanghai-based maker of silicon wafers, the base material used to fabricate semiconductor chips.
Sells wafers by the piece to chip fabs that must qualify each supplier before ordering, which tends to keep customers once won, so volume follows how fully those fabs run. Its parent group is Taiwan's Wafer Works Corporation.
In one line: A smaller Chinese/Taiwanese-linked silicon-wafer supplier.
Moat: narrow (scale, process know-how). Capital-intensive crystal-growing and polishing process with sticky fab qualification.
Headquarters: Shanghai, China · Employees: 1,031
Size Wafer Works (Shanghai) (688584.SS) is a China Information Technology company (Semiconductors) with a market value of $1.11B, the 2093rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥19.44 on 6 Nov 2026.
Performance Over six months the shares fell 6.1%, against -33.6% for the median peer and -16.4% for the China market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue fell 1.1% over the last twelve months (peer median +10.9%); the operating margin is 6.9% (peer median 2.7%).
Valuation It trades at 74.8× forward earnings against a peer median of 32.4× (3rd most expensive of 15).
Capital Return on invested capital runs 8.9 points below its cost of capital (14.2% WACC).
Next results Next results expected around 24 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.26B | CN¥1.31B | CN¥1.11B | CN¥1.35B | CN¥1.56B |
| Revenue growth | — | +18% | -18% | -13% | — |
| Gross profit | CN¥521M | CN¥329M | CN¥275M | CN¥456M | CN¥619M |
| EBITDA | n/a | CN¥414M | CN¥386M | CN¥519M | CN¥673M |
| Net income | CN¥69.5M | CN¥125M | CN¥121M | CN¥247M | CN¥365M |
| Free cash flow | -CN¥596M | -CN¥782M | CN¥120M | CN¥206M | CN¥490M |
| Capital expenditure | CN¥1.03B | CN¥1.19B | CN¥328M | CN¥373M | CN¥266M |
| Total debt | CN¥1.01B | CN¥515M | CN¥193M | CN¥650M | CN¥801M |
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 |
|---|---|---|---|---|---|---|
| Wafer Works (Shanghai) 688584.SS | $1.11B | -6% | -1% | 7% | 74.8× | n/a |
| GlobalWafers 6488.TWO | $8.15B | -23% | -6% | 11% | 21.4× | n/a |
| TCL Zhonghuan Renewable Energy Technology 002129.SZ | $5.68B | +9% | +13% | -27% | n/a | n/a |
| National Silicon Industry 688126.SS | $10.2B | 0% | +33% | -41% | n/a | n/a |
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 | 688584.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.4% | -16.3% | 8th lowest of 21 |
| 6-month return | -6.1% | -33.6% | 3rd highest of 20 |
| Distance from 52-week high | -61.0% | -52.0% | 3rd lowest of 21 |
| Revenue growth (TTM) | -1.1% | +10.9% | 5th lowest of 21 |
| Operating margin | 6.9% | 2.7% | 9th highest of 21 |
| Forward P/E | 74.8× | 32.4× | 3rd most expensive of 15 |
| ROIC minus cost of capital | -8.9 pp | -6.7 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wafer Works (Shanghai) 688584.SS | China | $1.11B | -6% | -1% | 7% | 74.8× | n/a | n/a |
| Guangdong Fuxin Technology 688662.SS | China | $1.10B | +19% | +15% | 13% | 73.2× | n/a | n/a |
| CCore Technology 688262.SS | China | $1.13B | -43% | +104% | -51% | 372.5× | n/a | n/a |
| Suzhou Good-Ark Electronics 002079.SZ | China | $1.10B | -31% | +12% | 2% | 42.7× | 32.5% | +17.1% |
| Zhuhai Aerospace Microchips Science & Technology 300053.SZ | China | $1.10B | -40% | +10% | -114% | n/a | n/a | n/a |
| Sino Wealth Electronic 300327.SZ | China | $1.13B | -18% | +7% | 1% | 25.7× | 58.7% | +4.9% |
| Wuxi Chipown Micro-electronics 688508.SS | China | $1.09B | -35% | +12% | -4% | 36.1× | n/a | n/a |
| Fujiyama Power Systems UTLSOLAR.NS | India | $1.14B | +23% | +72% | 17% | 18.6× | n/a | n/a |
| Lontium Semiconductor 688486.SS | China | $1.14B | -28% | +19% | 23% | 27.9× | n/a | n/a |
| BASiC Semiconductor 9971.HK | Hong Kong | $1.15B | n/a | +4% | -104% | n/a | n/a | n/a |
| Eastcompeace Technology 002017.SZ | China | $1.08B | -34% | +4% | 10% | n/a | 30.4% | +4.5% |
| Axera Semiconductor 0600.HK | Hong Kong | $1.15B | -34% | +19% | -135% | n/a | n/a | n/a |
| Focus Lightings Tech 300708.SZ | China | $1.07B | -14% | -38% | 9% | 28.6× | n/a | n/a |
| Semitronix 301095.SZ | China | $1.07B | -35% | +29% | 0% | 59.8× | 58.0% | +42.7% |
| Scientech 3583.TW | Taiwan | $1.07B | -46% | +9% | 14% | 16.0× | 10.4% | +26.0% |
| Epiworld International 2726.HK | Hong Kong | $1.17B | -34% | -21% | -11% | n/a | 42.8% | +17.4% |
| GCS 4991.TWO | Taiwan | $1.06B | -61% | +52% | 20% | 37.8× | 39.2% | +8.2% |
| Guizhou Zhenhua Fengguang Semiconductor 688439.SS | China | $1.05B | -28% | -39% | 4% | 14.9× | 18.6% | +16.1% |
| Telink Semiconductor (Shanghai) 688591.SS | China | $1.05B | -15% | +7% | 4% | 82.2× | n/a | n/a |
| Hana Micron 067310.KS | South Korea | $1.18B | -39% | +54% | 14% | 6.1× | 0.4% | +23.3% |
| Beijing Jingyuntong Technology 601908.SS | China | $1.05B | -26% | -32% | -49% | n/a | -5.1% | -5.1% |