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Makes semiconductor-grade silicon wafers used as the base material for chipmaking, part of the ESWIN Group.
Makes semiconductor-grade silicon wafers used as the base material for chipmaking, part of the ESWIN Group.
Customers qualify a wafer in their fab before ordering regularly, so growth depends on winning approvals and then filling a large new 300mm plant (the larger wafer size used for advanced chips). The older 200mm and epitaxial lines serve power and other mature chips.
In one line: A Chinese Sumco/Shin-Etsu for silicon wafers.
Moat: narrow (process know-how, customer qualification). Qualified silicon-wafer supply relationships with domestic fabs amid a push for local wafer substitution.
Headquarters: Xi'an, China · Founded: 2016 · Employees: 1,859
Size Xi'an ESWIN Material Technology (688783.SS) is a China Information Technology company (Semiconductors) with a market value of $9.34B, the 265th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥15.11 on 6 Nov 2026.
Performance Over six months the shares fell 36.2%, against -14.5% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 19 in its peer set.
Growth Revenue grew 24.9% over the last twelve months (peer median +32.7%); the operating margin is -24.9% (peer median 10.1%).
Valuation It trades at 24.4× enterprise value to sales against a peer median of 4.9× (2nd most expensive of 21).
Capital Return on invested capital runs 20.4 points below its cost of capital (17.1% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | n/a | CN¥2.65B | CN¥2.12B | CN¥1.47B | CN¥1.05B |
| Revenue growth | — | +25% | +44% | +40% | — |
| Gross profit | n/a | CN¥5.75M | CN¥47.4M | -CN¥24.6M | CN¥82.5M |
| EBITDA | n/a | CN¥503M | CN¥259M | -CN¥4.97M | -CN¥51.0M |
| Net income | n/a | -CN¥738M | -CN¥738M | -CN¥578M | -CN¥412M |
| Free cash flow | n/a | -CN¥1.83B | -CN¥1.45B | -CN¥3.53B | -CN¥3.53B |
| Capital expenditure | n/a | CN¥2.25B | CN¥2.09B | CN¥3.74B | CN¥3.54B |
| Total debt | CN¥6.33B | CN¥6.61B | CN¥7.11B | CN¥4.43B | CN¥2.10B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Xi'an ESWIN Material Technology 688783.SS | $9.34B | -36% | +25% | -25% | 24.4× | n/a |
| Shin-etsu Chemical 4063.T | $66.5B | -27% | +5% | 25% | 3.4× | 8.9% |
| Sumco 3436.T | $3.96B | -28% | +4% | -4% | 2.3× | n/a |
| GlobalWafers 6488.TWO | $8.15B | -23% | -6% | 11% | 4.6× | n/a |
| Siltronic WAF.DE | $1.86B | -46% | +1% | -16% | 1.9× | n/a |
| National Silicon Industry 688126.SS | $10.2B | 0% | +33% | -41% | 16.4× | n/a |
| Hangzhou Lion Electronics 605358.SS | $3.55B | -25% | +24% | -1% | 6.7× | 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 | 688783.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -39.6% | -15.1% | 4th lowest of 21 |
| 6-month return | -36.2% | -14.5% | 7th lowest of 19 |
| Distance from 52-week high | -77.4% | -48.5% | 2nd lowest of 21 |
| Revenue growth (TTM) | +24.9% | +32.7% | 10th lowest of 21 |
| Operating margin | -24.9% | 10.1% | 2nd lowest of 21 |
| EV / Sales | 24.4× | 4.9× | 2nd most expensive of 21 |
| ROIC minus cost of capital | -20.4 pp | +0.6 pp | 2nd lowest of 21 |
| Net debt / EBITDA | 4.9× | -1.0× | most indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xi'an ESWIN Material Technology 688783.SS | China | $9.34B | -36% | +25% | -25% | 24.4× | n/a | n/a |
| Novatek Microelectronics 3034.TW | Taiwan | $9.16B | +18% | +2% | 20% | 2.5× | -4.2% | +4.7% |
| Nexchip Semiconductor 2249.HK | Hong Kong | $9.55B | n/a | +20% | 7% | 7.1× | n/a | n/a |
| Semtech SMTC | United States | $9.63B | -15% | +18% | 12% | 8.5× | 51.8% | +12.0% |
| China Resources Microelectronics 688396.SS | China | $9.72B | -14% | +17% | 10% | 4.5× | 25.7% | +9.7% |
| United Nova Technology 688469.SS | China | $8.92B | +4% | +42% | -10% | 6.9× | n/a | n/a |
| National Silicon Industry 688126.SS | China | $10.2B | 0% | +33% | -41% | 16.4× | n/a | n/a |
| SG Micro 300661.SZ | China | $8.33B | -12% | +46% | 17% | 9.0× | 35.9% | +26.7% |
| TongFu Microelectronics 002156.SZ | China | $10.5B | -15% | +21% | 7% | 2.5× | n/a | n/a |
| VeriSilicon Microelectronics (Shanghai) 688521.SS | China | $8.31B | -63% | +39% | -23% | 13.4× | 40.5% | +15.9% |
| Amkor Technology AMKR | United States | $8.13B | -57% | +16% | 10% | 1.1× | n/a | n/a |
| Shenzhen Techwinsemi Technology 001309.SZ | China | $8.12B | -64% | +317% | 35% | 2.2× | n/a | n/a |
| Konfoong Materials International 300666.SZ | China | $8.09B | +9% | +35% | 10% | 9.9× | n/a | n/a |
| RMBS RMBS | United States | $7.98B | -42% | +17% | 37% | 9.1× | 24.5% | +23.5% |
| Realtek Semiconductor 2379.TW | Taiwan | $11.0B | +33% | +12% | 11% | 2.6× | 8.4% | +9.6% |
| Yuanjie Semiconductor Technology 688498.SS | China | $11.2B | -45% | +300% | 64% | 40.7× | n/a | n/a |
| Ingenic Semiconductor 3223.HK | Hong Kong | $7.76B | n/a | +100% | 35% | 5.3× | -3.9% | +16.1% |
| Tianshui Huatian Technology 002185.SZ | China | $7.74B | +10% | +33% | 4% | 3.1× | n/a | n/a |
| Powerchip Semiconductor Manufacturing 6770.TW | Taiwan | $7.54B | -5% | +22% | -5% | 3.8× | 11.3% | +0.5% |
| Fabrinet FN | United States | $11.7B | -47% | +43% | 10% | 2.1× | n/a | n/a |
| WAAREE Energies WAAREEENER.NS | India | $7.41B | -24% | +75% | 16% | 2.2× | n/a | n/a |