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Chinese fabless designer of Ethernet switching chips used in enterprise, carrier, data center and industrial networks.
Chinese fabless designer of Ethernet switching chips used in enterprise, carrier, data center and industrial networks.
Designs switching chips and has outside foundries make them, selling to networking-equipment makers who design them into their products, so revenue follows each customer's design win and the volume it ramps to. Selling its own complete switches is a smaller sideline.
In one line: China's Broadcom/Marvell for Ethernet switch silicon.
Moat: narrow (IP / patents, customer qualification). Chip design qualification into China's networking-equipment supply chain amid an import-substitution push.
Headquarters: Suzhou, China · Founded: 2005 · Employees: 548
Size Suzhou Centec Communications (688702.SS) is a China Information Technology company (Information Technology Services) with a market value of $6.58B, the 372nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥177.66 on 6 Nov 2026.
Performance Over six months the shares fell 44.9%, against +14.1% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 31.7% over the last twelve months (peer median +8.7%); the operating margin is -17.9% (peer median 8.4%).
Valuation It trades at 5,922.0× forward earnings against a peer median of 15.1× (most expensive of 20).
Capital Return on invested capital runs 34.1 points below its cost of capital (18.6% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.46B | CN¥1.14B | CN¥1.08B | CN¥1.04B | CN¥768M |
| Revenue growth | — | +6% | +4% | +35% | — |
| Gross profit | CN¥659M | CN¥531M | CN¥390M | CN¥309M | CN¥263M |
| EBITDA | n/a | -CN¥186M | -CN¥53.7M | CN¥33.7M | CN¥52.2M |
| Net income | -CN¥180M | -CN¥150M | -CN¥68.3M | -CN¥19.5M | -CN¥29.4M |
| Free cash flow | -CN¥279M | CN¥80.1M | CN¥67.7M | -CN¥321M | -CN¥274M |
| Capital expenditure | CN¥223M | CN¥113M | CN¥116M | CN¥57.3M | CN¥163M |
| Total debt | CN¥1.39M | CN¥2.78M | CN¥1.66M | CN¥379M | CN¥767M |
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 |
|---|---|---|---|---|---|---|
| Suzhou Centec Communications 688702.SS | $6.58B | -45% | +32% | -18% | 5,922.0× | n/a |
| Broadcom AVGO | $1.40T | -32% | +49% | 49% | 16.9× | 26.6% |
| Marvell Technology MRVL | $124B | -17% | +31% | 17% | 25.0× | 54.4% |
| Cisco CSCO | $369B | -3% | +12% | 25% | 18.4× | 15.0% |
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 | 688702.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -33.9% | +0.9% | 2nd lowest of 21 |
| 6-month return | -44.9% | +14.1% | lowest of 21 |
| Distance from 52-week high | -61.3% | -23.7% | 2nd lowest of 21 |
| Revenue growth (TTM) | +31.7% | +8.7% | 4th highest of 21 |
| Operating margin | -17.9% | 8.4% | 2nd lowest of 21 |
| Forward P/E | 5,922.0× | 15.1× | most expensive of 20 |
| ROIC minus cost of capital | -34.1 pp | +4.7 pp | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Suzhou Centec Communications 688702.SS | China | $6.58B | -45% | +32% | -18% | 5,922.0× | n/a | n/a |
| Xometry XMTR | United States | $6.63B | +44% | +37% | -2% | 91.0× | n/a | n/a |
| Temenos TEMN.SW | Switzerland | $6.51B | +10% | +30% | 27% | 21.8× | 8.3% | +1.7% |
| Computacenter CCC.L | United Kingdom | $6.48B | +15% | +54% | 3% | 16.4× | 7.9% | +11.1% |
| RIOT RIOT | United States | $6.27B | -31% | +6% | -84% | n/a | n/a | n/a |
| Viavi Solutions VIAV | United States | $7.00B | -44% | +40% | 11% | 14.0× | 32.7% | +4.8% |
| Science Applications International SAIC | United States | $6.13B | +56% | -1% | 8% | 14.3× | -4.6% | +0.6% |
| NICE Ltd. Sponsored ADR NICE | United States | $5.87B | +4% | +8% | 17% | 7.8× | -0.7% | +12.3% |
| Ingram Micro INGM | United States | $5.85B | -6% | +15% | 2% | 6.8× | 2.9% | +1.4% |
| Box BOX | United States | $5.76B | +63% | +10% | 9% | 26.0× | 20.3% | +8.8% |
| TISI 3626.T | Japan | $5.50B | +20% | +5% | 13% | 15.1× | -7.7% | +5.9% |
| HyundaiAutoever 307950.KS | South Korea | $5.49B | -40% | +16% | 5% | 35.7× | 27.6% | +22.2% |
| Pegasystems PEGA | United States | $5.30B | -10% | +1% | 12% | 13.8× | 8.8% | +11.4% |
| AppFolio APPF | United States | $8.18B | +39% | +20% | 19% | 28.9× | 18.5% | +25.1% |
| LG Cns 064400.KS | South Korea | $5.29B | +14% | +4% | 9% | 15.5× | 5.6% | +7.2% |
| EPAM Systems EPAM | United States | $8.22B | +61% | +11% | 10% | 11.3× | 9.4% | +15.5% |
| Parsons PSN | United States | $5.16B | -1% | -3% | 5% | 14.8× | 8.4% | +10.2% |
| Otsuka 4768.T | Japan | $8.63B | +24% | +9% | 7% | 20.1× | -5.6% | +9.6% |
| Bechtle BC8.DE | Germany | $4.72B | +13% | +8% | 5% | 16.8× | 6.9% | +4.9% |
| KBR KBR | United States | $4.69B | +14% | -3% | 9% | 9.5× | -8.7% | +6.2% |
| Insight Enterprises NSIT | United States | $4.64B | +89% | +3% | 6% | 11.7× | 2.9% | -0.2% |