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Fabless designer of RF front-end chips (power amplifiers, switches) for smartphones and wireless devices.
Fabless designer of RF front-end chips (power amplifiers, switches) for smartphones and wireless devices.
In one line: A small Chinese RF front-end designer, competing with Skyworks/Qorvo at the value end.
Moat: none (process know-how). Fabless RF front-end designer in an intensely competitive, price-sensitive smartphone supply chain.
Headquarters: Beijing, China · Employees: 489
Size Beijing OnMicro Electronics (688790.SS) is a China Information Technology company (Semiconductors) with a market value of $1.04B, the 2216th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥70.36 on 6 Nov 2026.
Performance Over six months the shares fell 50.7%, against -27.4% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue fell 10.4% over the last twelve months (peer median +9.5%); the operating margin is -16.0% (peer median 3.9%).
Valuation It trades at 2.8× enterprise value to sales against a peer median of 4.3× (6th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 41% a year for seven years (Req g). Recent delivered growth is +27%, 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 41.9 points below its cost of capital (17.8% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.80B | CN¥1.88B | CN¥2.10B | CN¥1.69B | CN¥923M |
| Revenue growth | — | -10% | +24% | +84% | — |
| Gross profit | n/a | CN¥356M | CN¥380M | CN¥251M | CN¥133M |
| EBITDA | n/a | -CN¥79.1M | -CN¥24.4M | -CN¥457M | -CN¥375M |
| Net income | -CN¥109M | -CN¥119M | -CN¥64.7M | -CN¥450M | -CN¥290M |
| Free cash flow | n/a | CN¥109M | -CN¥243M | -CN¥135M | -CN¥205M |
| Capital expenditure | n/a | CN¥16.2M | CN¥60.7M | CN¥73.6M | CN¥169M |
| Total debt | CN¥373M | CN¥327M | CN¥324M | CN¥236M | CN¥72.4M |
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 |
|---|---|---|---|---|---|---|
| Beijing OnMicro Electronics 688790.SS | $1.04B | -51% | -10% | -16% | 2.8× | 41.4% |
| Skyworks Solutions SWKS | $19.3B | +24% | -3% | 9% | 4.8× | 39.4% |
| Qorvo QRVO | n/a | +45% | n/a | n/a | n/a | n/a |
| Maxscend Microelectronics 300782.SZ | $4.51B | -47% | -6% | -25% | 8.0× | 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 | 688790.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -25.5% | -16.5% | 5th lowest of 21 |
| 6-month return | -50.7% | -27.4% | 2nd lowest of 21 |
| Distance from 52-week high | -71.2% | -51.8% | lowest of 21 |
| Revenue growth (TTM) | -10.4% | +9.5% | 4th lowest of 21 |
| Operating margin | -16.0% | 3.9% | 4th lowest of 21 |
| EV / Sales | 2.8× | 4.3× | 6th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 41.4% | 20.5% | 2nd most demanding of 12 |
| Growth delivered (Del g) | +26.8% | +8.2% | 2nd highest of 12 |
| Hurdle (Req g minus delivered) | +14.6 pp | +15.3 pp | 5th least demanding of 12 |
| ROIC minus cost of capital | -41.9 pp | -3.2 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Beijing OnMicro Electronics 688790.SS | China | $1.04B | -51% | -10% | -16% | 2.8× | 41.4% | +26.8% |
| Beijing Jingyuntong Technology 601908.SS | China | $1.05B | -26% | -32% | -49% | 5.4× | -5.1% | -5.1% |
| Shanghai Fortune Techgroup 300493.SZ | China | $1.04B | -15% | +3% | 3% | 2.3× | 35.9% | +15.8% |
| Wuxi DK Electronic Materials 300842.SZ | China | $1.03B | -48% | +36% | 4% | 0.6× | n/a | n/a |
| Telink Semiconductor (Shanghai) 688591.SS | China | $1.05B | -15% | +7% | 4% | 4.8× | n/a | n/a |
| Guizhou Zhenhua Fengguang Semiconductor 688439.SS | China | $1.05B | -28% | -39% | 4% | 8.4× | 18.6% | +16.1% |
| GCS 4991.TWO | Taiwan | $1.06B | -61% | +52% | 20% | 11.6× | 39.2% | +8.2% |
| Scientech 3583.TW | Taiwan | $1.07B | -46% | +9% | 14% | 2.4× | 10.4% | +26.0% |
| Semitronix 301095.SZ | China | $1.07B | -35% | +29% | 0% | 7.0× | 58.0% | +42.7% |
| Focus Lightings Tech 300708.SZ | China | $1.07B | -14% | -38% | 9% | 3.8× | n/a | n/a |
| Hannstar Display 6116.TW | Taiwan | $1.01B | +43% | +4% | -25% | 2.6× | 14.9% | -10.2% |
| Eastcompeace Technology 002017.SZ | China | $1.08B | -34% | +4% | 10% | 4.1× | 30.4% | +4.5% |
| Wuxi Chipown Micro-electronics 688508.SS | China | $1.09B | -35% | +12% | -4% | 4.4× | n/a | n/a |
| ELAN Microelectronics 2458.TW | Taiwan | $996M | -18% | -8% | 21% | 2.9× | -2.8% | -4.0% |
| Suzhou Oriental Semiconductor 688261.SS | China | $994M | -27% | +18% | 0% | 3.5× | n/a | n/a |
| Zhuhai Aerospace Microchips Science & Technology 300053.SZ | China | $1.10B | -40% | +10% | -114% | 32.1× | n/a | n/a |
| Guangdong Leadyo IC Testing 688135.SS | China | $990M | -23% | +28% | 6% | 9.9× | n/a | n/a |
| Suzhou Good-Ark Electronics 002079.SZ | China | $1.10B | -31% | +12% | 2% | 1.3× | 32.5% | +17.1% |
| Koh Young Technology 098460.KS | South Korea | $987M | -49% | +57% | 15% | 4.0× | 20.5% | +5.3% |
| Guangdong Fuxin Technology 688662.SS | China | $1.10B | +19% | +15% | 13% | 11.8× | n/a | n/a |
| Wafer Works (Shanghai) 688584.SS | China | $1.11B | -6% | -1% | 7% | 6.1× | n/a | n/a |