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Chinese maker of high-end scientific instruments for quantum sensing, quantum computing control and electron microscopy.
Chinese maker of high-end scientific instruments for quantum sensing, quantum computing control and electron microscopy.
Sells instruments mainly to universities, research institutes and company R&D labs, often through public procurement, so revenue follows research budgets and equipment-upgrade programmes, and each sale is a one-off. Hefei-based, with technology from the University of Science and Technology of China.
In one line: A China-based Bruker/Oxford Instruments spun out of USTC quantum research.
Moat: narrow (IP / patents, process know-how). Technology spun out of USTC quantum research; one of few vertically integrated quantum-instrument makers globally.
Headquarters: Hefei, China · Founded: 2016 · Employees: 685
Size CIQTEK (688828.SS) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $4.17B, the 617th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥69.49 on 6 Nov 2026.
Growth Revenue grew 32.8% over the last twelve months (peer median +4.5%); the operating margin is -4.8% (peer median 11.8%).
Valuation It trades at 42.0× enterprise value to sales against a peer median of 4.7× (most expensive of 21).
Capital Return on invested capital runs 21.4 points below its cost of capital (18.5% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | n/a | CN¥663M | CN¥499M | CN¥398M | CN¥151M |
| Revenue growth | — | +33% | +25% | +164% | — |
| Gross profit | n/a | CN¥282M | CN¥184M | CN¥114M | CN¥26.9M |
| EBITDA | n/a | CN¥12.3M | -CN¥81.3M | -CN¥148M | -CN¥157M |
| Net income | n/a | -CN¥5.80M | -CN¥74.1M | -CN¥140M | -CN¥123M |
| Free cash flow | n/a | CN¥104M | -CN¥181M | -CN¥272M | -CN¥207M |
| Capital expenditure | n/a | CN¥44.9M | CN¥140M | CN¥144M | CN¥74.8M |
| Total debt | n/a | CN¥274M | CN¥285M | CN¥169M | CN¥13.6M |
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 |
|---|---|---|---|---|---|---|
| CIQTEK 688828.SS | $4.17B | n/a | +33% | -5% | 42.0× | n/a |
| Bruker BRKR | $9.34B | +39% | +2% | 9% | 3.1× | 25.7% |
| Oxford Instruments OXIG.L | $1.79B | -16% | -15% | 15% | 3.0× | 20.1% |
| Thermo Fisher Scientific TMO | $257B | +50% | +8% | 19% | 6.2× | 20.9% |
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 | 688828.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.1% | -9.4% | 10th lowest of 21 |
| Distance from 52-week high | -44.0% | -47.5% | 10th highest of 21 |
| Revenue growth (TTM) | +32.8% | +4.5% | 4th highest of 21 |
| Operating margin | -4.8% | 11.8% | 4th lowest of 21 |
| EV / Sales | 42.0× | 4.7× | most expensive of 21 |
| ROIC minus cost of capital | -21.4 pp | -0.8 pp | 3rd lowest of 21 |
| Net debt / EBITDA | -2.3× | -0.5× | 2nd least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CIQTEK 688828.SS | China | $4.17B | n/a | +33% | -5% | 42.0× | n/a | n/a |
| Itron ITRI | United States | $4.32B | +20% | -4% | 14% | 2.2× | 9.2% | +1.7% |
| INFICON IFCN.SW | Switzerland | $4.51B | 0% | -2% | 17% | 6.3× | 19.7% | +8.4% |
| Novanta NOVT | United States | $5.11B | -2% | +8% | 12% | 4.5× | 33.5% | +10.7% |
| Shenzhen SEICHI Technologies 688627.SS | China | $3.37B | -24% | +65% | 3% | 11.8× | n/a | n/a |
| GRG Banking Equipment 002152.SZ | China | $3.26B | -25% | 0% | 9% | 1.5× | 4.0% | +13.5% |
| Syntec Technology 7750.TW | Taiwan | $3.15B | -46% | +60% | 25% | 4.9× | 17.2% | +24.3% |
| Addsino 000547.SZ | China | $3.02B | -49% | -6% | -54% | 9.2× | n/a | n/a |
| Shanghai Lingang 600848.SS | China | $3.00B | -9% | -26% | 15% | 8.2× | 12.9% | +15.1% |
| Ginlong Technologies 300763.SZ | China | $2.98B | -47% | +4% | 11% | 3.5× | 10.0% | +27.2% |
| GeniuS Electronic Optical 3406.TW | Taiwan | $2.81B | +59% | +16% | 20% | 3.1× | 5.9% | +9.5% |
| Kehua Data 002335.SZ | China | $2.81B | -41% | +5% | 5% | 2.3× | 16.7% | +14.4% |
| Oxford Nanopore Technologies ONT.L | United Kingdom | $2.71B | +75% | +15% | -55% | 8.0× | n/a | n/a |
| Focuslight Technologies 688167.SS | China | $2.71B | -44% | +22% | -9% | 19.2× | n/a | n/a |
| Wuhan Guide Infrared 002414.SZ | China | $6.46B | -32% | +89% | 29% | 5.8× | n/a | n/a |
| Ningbo Sanxing Medical Electric 601567.SS | China | $2.66B | -37% | -11% | 3% | 1.4× | 4.8% | +15.1% |
| Shenzhen CSL Vacuum Science & Technology 688785.SS | China | $2.62B | -21% | -2% | 18% | 27.3× | n/a | n/a |
| Suzhou HYC Technology 688001.SS | China | $2.59B | -31% | +19% | 6% | 7.1× | 37.6% | +5.9% |
| Dexerials 4980.T | Japan | $2.55B | -4% | +5% | 35% | 3.5× | 15.0% | +11.6% |
| Vaisala VAIAS.HE | Finland | $2.54B | +22% | +2% | 16% | 3.6× | 9.7% | +9.5% |
| China Railway Signal & Communication 688009.SS | China | $7.39B | 0% | +1% | 12% | 1.3× | -6.3% | -2.9% |