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May 2026
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Largest DeepTech Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
CATL, Foxconn Industrial Internet, Cambricon Technologies, BYD and Hygon Information Technology.
 | CATL, headquartered in Ningde, Fujian Province, is a global leading battery manufacturer founded in 2011. The company specializes in the development and production of lithium-ion batteries for EVs and energy storage systems. CATL is the largest EV battery manufacturer in the world and leads the industry in innovative battery technology development for higher-energy density and safety, longer battery service life and super-fast charging. CATL is also involved in the manufacturing of cathode and other related battery materials. Through its subsidiary Brunp, it works with customers to create a closed-loop battery life cycle from production, application, to recycling. | $61 | +66% | $280B | $238B | 3.8x | 13.8x | ||
| Foxconn Industrial Internet Co Ltd is engaged in the design, research and development, manufacturing, and sales of various electronic equipment products. The company's main products include communications network equipment, cloud service equipment, precision tools, and industrial robots. | $10 | +276% | $205B | $203B | 1.5x | 26.2x | ||
| Cambricon Technologies Corp Ltd is engaged in designing and selling artificial intelligence core chips in various cloud servers, edge computing equipment, terminal equipment, providing customers with rich chip products and system software solutions. | $207 | +136% | $130B | $129B | 134.9x | 376.8x | ||
| Founded in 1995, BYD is a leading Chinese manufacturer in the design, development, and production of new energy vehicles, or NEVs. In March 2022, the firm discontinued production of internal combustion engine, or ICE, vehicles. Its products primarily target the growing midpriced mass-market segment in China’s passenger vehicle market. The company sold about 4.3 million passenger NEVs in 2024, accounting for 35% of the Chinese passenger NEV market. Besides automobile production, the company is also engaged in handset components and assembly services, as well as the rechargeable battery and photovoltaics business. After more than 25 years of development, the company has established over 30 industrial parks worldwide. | $13 | -24% | $120B | $122B | 1.0x | 6.9x | ||
| Hygon Information Technology Co Ltd is engaged in the research and development, design, and sales of high-end processors used in computing and storage devices such as servers and workstations. The company's products include Hygon central processing unit (CPU) and Hygon drive control unit (DCU). | $49 | +145% | $113B | $112B | 53.0x | 141.5x | ||
| Founded in 2000, Semiconductor Manufacturing International Corporation is the largest foundry in China and the third-largest globally after TSMC and Samsung Electronics, overtaking GlobalFoundries and United Microelectronics Corp in 2024. The company’s headquarters and foundry are in Shanghai, with additional foundries in Beijing, Tianjin, and Shenzhen, and offices in the United States, Europe, Japan, Taiwan, and Hong Kong. Its products are used in artificial intelligence, data centers, automotive, consumer electronics, memory, and "Internet of Things" products. SMIC employs over 19,100 people. | $12 | +85% | $100B | $102B | 10.9x | 19.4x | ||
| Eoptolink Technology Inc Ltd is engaged in the research & development, production, and sales of optical modules. The company's main products include point-to-point optical modules; and passive optical network optical modules. | $97 | +657% | $97B | $95B | 26.1x | 57.7x | ||
| NAURA Technology Group Co Ltd engages in the research, development, manufacture, sale, and service of electronic equipment and components in the People's Republic of China. The company offers semiconductor equipment, including etching equipment, PVD and CVD equipment, oxidation/diffusion equipment, cleaning equipment, novel display equipment, gas mass flow controllers, etc., and vacuum heat treatment equipment and technical solutions for the semiconductors, photovoltaic equipment, vacuum electronic devices, magnetic materials, aerospace, and smart power grid sectors. | $103 | +128% | $74B | $74B | 12.8x | 66.2x | ||
| SJ Semiconductor Corp is engaged in mid-stage silicon wafer processing and back-end packaging business in the packaging and testing industry for integrated circuits. | $31 | -- | $59B | $59B | 61.0x | 137.7x | ||
| Victory Giant Technology (HuiZhou)Co Ltd is a China-based company principally engaged in the research and development, manufacture, and sale of printed circuit boards (PCBs). The company's products are widely used in LED displays, servers, communications, medical equipment, new energy vehicles, computer peripherals, and other fields. The company's main products include double-sided PCBs and continuous layer PCBs. | $56 | +345% | $55B | $56B | 19.6x | 61.9x | ||
| GigaDevice Semiconductor Inc is engaged in the domestic storage and Internet of Things (IoT) chip industry. Its product portfolio comprises of flash memories and microcontrollers. Some of its products are SPI NOR flash, SPI NAND flash, and ARM Cortex-M3, among others. The products are for use in embedded, consumer, and mobile communications applications. | $77 | +372% | $54B | $52B | 38.2x | 162.9x | ||
| Montage Technology Co Ltd provides chip-based solutions for cloud computing and artificial intelligence. The company operates two main product lines: interconnection chips and the Jindai Server Platform. Its interconnection chip portfolio covers memory interface chips, memory module support chips, PCIe retimers, and related products. The Jindai Server Platform includes the Jindai CPU and Hybrid Secure Memory Module. | $43 | +288% | $52B | $50B | 62.3x | 138.5x | ||
| Suzhou TFC Optical Communications Co Ltd is engaged in High-end passive component total solutions and high-speed optical component packaging OEM solutions. | $58 | +589% | $45B | $45B | 59.2x | 121.4x | ||
| Advanced Micro-fabrication Equipment Inc is engaged in the development, production, and sales of equipment such as plasma etching equipment, deep silicon etching equipment, and metal organic chemical vapor deposition (MOCVD) equipment for microelectronic devices such as integrated circuits and LED chips. | $71 | +181% | $45B | $44B | 24.0x | 116.3x | ||
| Baidu is the largest internet search engine in China with over 50% share of the search engine market in 2024 per web analytics firm, Statcounter. The firm generated 70% of core revenue from online marketing services from its search engine in 2024. Outside its search engine, Baidu is a technology-driven company and its other major growth initiatives are artificial intelligence cloud, video streaming services, voice recognition technology, and autonomous driving. | $16 | +57% | $45B | $41B | 2.2x | 9.1x | ||
| Hangzhou Hikvision Digital Technology is the world’s largest manufacturer of video surveillance equipment. Since then, the company has been growing its software and analytics offerings, as customers are increasingly seeking customized total solutions. Hikvision is also developing its Innovative businesses, which accounted for 21% of overall 2023 revenue. The smart-home business is powered by the EZVIZ consumer brand. Innovative business includes the development of industrial robotics, automotive electronics, X-ray sensors, infrared sensors, memory products and medical systems. Hikvision employs more than 58,000 people. | $5 | +16% | $44B | $38B | 2.8x | 13.6x | ||
| Shennan Circuits Co Ltd is engaged in research and development, production, and sales of printed circuit boards, packaging substrates, and electronic assembly products. | $59 | +381% | $40B | $41B | 11.6x | 51.6x | ||
| Avary Holding (Shenzhen) Co Ltd is engaged in the design, research & development, manufacturing, and sales of various printed circuit boards. The company's products mainly include communication boards, consumer electronics boards, automotive, server, and other boards. | $17 | +310% | $39B | $38B | 6.6x | 33.2x | ||
| Shenzhen Longsys Electronics Co Ltd is a technology-based storage product manufacturer dedicated to memory chip architecture and applications. The company has five product lines: embedded storage, industrial storage, mobile storage, SSD storage, and memory modules. It provides systematic solutions for personal data and industrial software and hardware storage products. | $83 | +705% | $35B | $37B | 11.1x | 105.0x | ||
| Yangtze Optical Fibre and Cable Joint Stock Ltd Co is engaged in the Chinese communication equipment industry. It manufactures and sells optical fiber preforms, optical fibers with various standard specifications that are widely used in the telecommunications industry. It operates its business through three operating segments, optical fibers and optical fiber preforms; and Optical components and modules, optical fiber cables. The manufacture and sale of optical fiber cables provide the company with majority of its revenue. Its other products comprise of trunk cables, patch cords, plug-and-play modules, optical distribution frames, pigtails, adapter panels, splitters, and connecting cabinets. | $43 | +1206% | $35B | $36B | 16.9x | 101.8x | ||
| Hua Hong Semiconductor, or Hua Hong, is the second-largest Chinese foundry and the seventh-largest globally. Its current form is a result of an intragroup restructuring completed in 2013. Hua Hong is headquartered in Shanghai with another plant in Wuxi, China, and has sales offices in Japan, Taiwan, and the US. It employs more than 7,400 employees. Hua Hong’s products are used on smartphones, PCs, for the Internet of Things, data centers, and for automotive and industrial purposes, among others, but it focuses on more mature process technologies. | $19 | +306% | $33B | $32B | 13.3x | 43.4x | ||
| Piotech Inc is engaged in the research and development, production, sales, and technical services of high-end semiconductor special equipment. The company provides three main product lines: Plasma Enhanced Chemical Vapor Deposition (PECVD) equipment for thin film formation in memory chip production, Atomic Layer Deposition (ALD) equipment for logic chip manufacturing, and Sub-Atmospheric Chemical Vapor Deposition (SACVD) equipment for wafer fabrication. | $106 | +396% | $30B | $30B | 30.9x | 183.9x | ||
| BOE Technology Group Co Ltd is an investment holding company. Along with its subsidiaries, the company operates in the following business segments: Display business, Internet of Things (IoT) innovation business, Sensor business, MLED business, Smart medicine and engineering business, and Others. A majority of its revenue is generated from the Display business segment, which integrates design and manufacturing of display devices and offers TFT-LCD, AMOLED, Microdisplay, and other intelligent interface devices. This business focuses on providing high-quality smartphones, tablet PCs, laptops, monitors, TVs, vehicles, VR/AR, and other display devices for customers. Geographically, the group generates maximum revenue from Mainland China, followed by other regions. | $1 | +41% | $29B | $39B | 1.3x | 5.2x | ||
| Shenzhen Mindray Bio-Medical Electronics Co Ltd is a developer, manufacturer, and supplier of medical devices. The company is focused on the medical industry in the fields of Patient Monitoring & Life Support, InVitro Diagnostics, and Medical Imaging. | $23 | -31% | $27B | $25B | 5.1x | 14.8x | ||
| Hengtong Optic-Electric Co Ltd provides fiber optic communication products in China and internationally. It offers optical rods, optical fiber, optical cable, optical devices, an optical network, ocean optical network products, data communication products, power transmission products, ocean engineering, quantum security communications, rail transit, and smart city products. | $11 | +396% | $27B | $27B | 2.8x | 36.9x | ||
| Accelink Technologies Co Ltd is an optoelectronic device company in China. It develops optoelectronic devices. Its main products include optical amplifiers, wavelength division multiplexers, optical switches, optical fiber couplers, and optical fiber connectors, among others. | $33 | +451% | $27B | $26B | 14.8x | 109.6x | ||
| ZTE Corp is a provider of integrated telecommunications and IT solutions with a full range of end-to-end ICT products and solutions integrating design, development, production, sales, and services with a special focus on carriers’ networks, government and corporate business, and consumer business. It operates in three segments Carriers’ network, Consumer Business, and Government and Corporate Business. It generates a majority of its revenue from equipment supporting carriers' networks. It has a presence in the PRC, Asia, Africa, Europe, and the Americas. It generates the majority of its revenue from the PRC region. | $5 | +17% | $24B | $27B | 1.4x | 12.3x | ||
| Shenzhen Techwinsemi Technology Co Ltd is engaged in the design, research and development of integrated circuits and industrial applications. | $102 | +829% | $23B | $24B | 15.1x | 176.1x | ||
| Hangzhou Chang Chuan Technology Co Ltd is a China based company engaged in the research and development, production and sales of integrated circuit equipment. Its product portfolio comprises of two product lines, namely Automatic sorting system and Test systems, to carry out research and development work. The Test systems product line comprises of CTA8280, CTT3280, CTT3600, CTT1000, and CTT3320. The Automatic sorting system comprises C1 series, C2 series, C3Q series, C7100/400, and C8 series, among others. | $37 | +511% | $23B | $23B | 29.9x | 104.4x | ||
| Biwin Storage Technology Co Ltd focuses on the research and development and packaging and testing of memory chips. The company integrates storage medium characteristic research, firmware algorithm development, storage chip advanced packaging, storage chip test equipment R&D and algorithm development, brand operation and others. Its memory chip products are widely used in mobile smart terminals, PCs, industry terminals, data centers, smart cars, mobile storage and other information technology fields. | $47 | +480% | $22B | $23B | 14.1x | 125.6x | ||
| VeriSilicon Microelectronics Shanghai Co Ltd provides its customers with platform-based, all-round, one-stop custom silicon services and semiconductor IP licensing services leveraging its in-house semiconductor IP. The company provides a variety of customized silicon solutions, including high-definition video, high-definition audio and voice, In-Vehicle Infotainment, video surveillance, IoT connectivity, data center. In addition, VeriSilicon has five types of in-house processor IPs, namely GPU IP, NPU IP, VPU, DSP IP and ISP IP, and more than 1,400 analog and mixed signal IPs and RF IPs. | $42 | +232% | $22B | $22B | 47.8x | (696.4x) | ||
| JCET Group Co Ltd is engaged in providing packaging and testing of integrated circuits and discrete devices, as well as chip design and manufacturing of discrete devices; providing customers at home and abroad with a complete set of semiconductor packaging and testing solutions, including packaging design, solder bumps, probes, assembly, testing, and distribution. | $12 | +153% | $21B | $22B | 3.8x | 23.5x | ||
| SAIC Motor Corp Ltd builds and sells passenger cars and commercial vehicles. The company operates its business through two segments: the Vehicle and Parts Segment and the Financial Services Segment. The Vehicle and Parts segment focuses on the manufacturing and sale of automobiles and components. The Financial Services segment is engaged in offering various financial solutions. It generates the majority of its revenue from the Vehicle and Parts Segment. | $2 | -23% | $21B | $5B | 0.1x | 0.7x | ||
| Dawning Information Industry Co Ltd is a China-based company engages in the manufacturing and selling of computers and servers. The company also provides industrial solutions and cloud computing services. Its products include server products, safety products, high-performance computing products, infrastructure, storage products, and cloud computing products. It offers integrated information services such as cloud computing and large data, software development, system integration and technical services. | $14 | +58% | $21B | $20B | 9.3x | 41.5x | ||
| China Satellite Communications Co Ltd is engaged in the development and management of communication and broadcasting satellite systems; the design and development of satellite ground application systems and related equipment. It also offers technical consulting, engineering design, engineering contracting services related to the satellite business. | $5 | +73% | $21B | $20B | 51.5x | 70.8x | ||
| OmniVision Integrated Circuits Group Inc designs, develops, and sales of integrated circuits, computer hardware and software, business information consulting, import and export of goods and technology, and leasing of owned houses. | $16 | -11% | $20B | $19B | 4.5x | 21.2x | ||
| Yuanjie Semiconductor Technology Co Ltd is engaged in the research and development, design, production and sales of optical chips. | $160 | +719% | $20B | $20B | 223.6x | 480.9x | ||
| Suzhou Centec Communications Co Ltd is engaged in research & development, design and sales of Ethernet switching chips and supporting products. | $47 | +441% | $19B | $19B | 112.0x | (1111.7x) | ||
| Sharetronic Data Technology Co Ltd is engaged in production and sales of products such as Internet of Things intelligent terminals and data storage devices in the field of consumer electronics. The company provides wireless network and smart terminal. Its production lines mainly focus on Internet of Things, Smart Home, and Car Networking. Its products consist of virtual reality, laptops, wifi IP camera, and NAS storage. | $39 | +244% | $19B | $21B | 11.8x | 65.4x | ||
| ACM Research (Shanghai) Inc is engaged in research & development, producing and selling semiconductor special equipment. The company's products include semiconductor cleaning equipment, semiconductor electroplating equipment, and packaging wet equipment. | $37 | +151% | $18B | $17B | 17.4x | 72.1x | ||
| Iflytek Co Ltd is a China-based company, principally engaged in the software and information technology (IT) service businesses. The company’s business includes intelligent application systems, software for voice and speech recognition and conversion, computer software design services, and computer programming services. The company's main products include AI language learning products, AI learning machines, AI diagnosis and treatment assistant products, smart medical devices, the iFLYTEK Hearing Smart Conference System, the iFLYTEK Spark App, the iFLYTEK Smart Office Book, the iFLYTEK Translator, and others. | $7 | +7% | $17B | $18B | 4.5x | 38.7x | ||
| Guangdong HEC Technology Holding Co Ltd is engaged in the manufacture and distribution of electronic materials and alloy materials. The company's products consist of high-purity aluminum, electrode foil, hydrophilic foil and coatings for hydrophilic foil, aluminum electrolytic capacitors, soft magnetic materials, and electrochemical products. | $6 | +310% | $17B | $18B | 8.4x | 76.4x | ||
| Shenzhen Sunway Communication Co Ltd is operating in the communication industry. The company is primarily focusing on the research and development, manufacturing, sales and marketing of the mobile terminal antennas and related modules, acoustic modules and connectors with high electromagnetic compatibility. Its products offering include mobile antenna, precision metal parts, MIM metal parts, acoustics and new materials products. Its products mainly apply to consumer electronic fields like smartphone/tablet PC, smart wearable devices, smart home/IoT and smart automobiles, and primarily expand the supporting capability towards industry, automobile, and military fields. | $17 | +460% | $17B | $17B | 13.1x | 74.2x | ||
| LONGi Green Energy Technology is one of the largest integrated solar company in the world. It produced 106 gigawatts of solar silicon wafers and 70 GW of solar modules in 2024. Solar silicon wafer and solar module contributed 10% and 80% of revenue in 2024, respectively. LONGi’s products are sold in more than 150 countries and regions. | $2 | +5% | $17B | $14B | 1.4x | 58.1x | ||
| Li Auto is a leading Chinese NEV manufacturer that designs, develops, manufactures, and sells premium smart NEVs. The company started volume production of its first model Li One in November 2019. The model is a six-seater, large, premium plug-in electric SUV equipped with a range extension system and advanced smart vehicle solutions. It sold over 500,000 NEVs in 2024, accounting for about 4% of China's passenger new energy vehicle market. Beyond Li One, the company expands its product line, including both BEVs and PHEVs, to target a broader consumer base. | $8 | -45% | $16B | $4B | 0.2x | 4.3x | ||
| Nova Ltd is a provider of metrology and process control solutions used in semiconductor manufacturing. The company provides high-performance metrology solutions across the semiconductor fabrication lifecycle and develops differentiated inline metrology solutions deployed by a broad range of customers, including integrated circuit manufacturers. Its portfolio combines high-precision hardware and software, enabling customers to improve device performance, enhance yields, and accelerate time to market. Its products include Dimensional Metrology, Materials Metrology, Chemical Metrology, and Software Solutions. The company operates in China, Taiwan, R.O.C., the United States and other regions, with maximum revenue coming from China. | $503 | +135% | $16B | $16B | 17.8x | 49.8x | ||
| TongFu Microelectronics Co Ltd operates in the semiconductor industry. The company specializes in integrated circuit assembling and testing. The company provides customers with a full range of test platforms and engineering services to support a wide range of analog and mixed-signal, automotive, radio frequency, digital semiconductor devices, baseband, and application-specific integrated circuits. Its other products and services include wafer bump services, probe, final test, and post-test services. | $10 | +202% | $16B | $18B | 4.3x | 21.0x | ||
| Hwatsing Technology Co Ltd is engaged in research and development, production, sales, and technical services of semiconductor special equipment. | $43 | +201% | $15B | $15B | 21.6x | 73.8x | ||
| RoboTechnik Intelligent Technology Co Ltd is a provider of smart manufactory solutions. Its focus is on developing, designing and manufacturing high-speed automated solutions to meet customer's specific requirements. The company offers smart manufactory solutions for Clean Energy, Electronics and Semi-Conductor, Automotive, as well as Food and Pharmaceutical industry segments, including intelligent production equipments, intelligent Storage System, and intelligent Material Transferring System. | $92 | +370% | $15B | $16B | 110.9x | 1761.5x | ||
| Founded in 2015, XPeng is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets EVs in China. Its products primarily target the growing base of technology-savvy middle-class consumers in the midrange to high-end segment in China’s passenger vehicle market. The company sold over 190,000 EVs in 2024, accounting for about 2% of China’s passenger new energy vehicle market. It is also a leader in autonomous driving technology. | $8 | -18% | $15B | $13B | 1.2x | 40.0x | ||
| IEIT Systems Co Ltd is a provider of IT infrastructure products, solutions, and services. Its business focuses on three fields: servers, storage, and networks. The company is committed to the innovation of digital technology along with the application and integration of digital worlds with the physical world. It is helping enterprises embark on a path of sustainable development by driving intelligent digital transformation. | $10 | +43% | $15B | $16B | 0.7x | 27.8x | ||
| National Silicon Industry Group was founded in 2015 after reorganizing several smaller silicon producers. Its major subsidiaries are Zing Semiconductor and Simgui domestically, and Okmetic in Finland. The company had an annual production capacity of 15 million wafers at the end of 2024. NSIG holds a 5% stake in France-based Soitec, which is a supplier and a customer. NSIG is headquartered in Shanghai, China and employs more than 3,400 people. | $4 | +59% | $14B | $15B | 26.7x | (456.7x) | ||
| TCL Technology Group Corp is a consumer electronics company in China. The company mainly operates its business through four segments. The Semiconductor display business segment focuses on R&D, production, and sales of display panels and modules, and full display processing operations. The New Energy Photovoltaic and Other Silicon Materials Business segment involves producing and selling various silicon-based materials, devices, and new energy products, and operating photovoltaic power plant projects. The Distribution Business segment covers the sales of computers, software, tablets, mobile phones, and other electronics. The Other Businesses segment encompasses industrial finance and investment activities, along with providing technology development and patent maintenance services. | $1 | +5% | $14B | $31B | 1.1x | 5.3x | ||
| Goertek Inc is a China-based company engaged in precision components, intelligent acoustic devices, and intelligent hardware. Its products include miniature speakers, speaker modules, wireless charging devices, antennas, micro-nano optical components, MEMS sensors, microsystem modules, precision structural parts, smart wireless earphones, smart speakers, VR, MR, and AR devices, smart wearables, gaming consoles and accessories, and other smart home products. | $4 | +24% | $13B | $13B | 0.9x | 10.6x | ||
| China Resources Microelectronics Ltd is engaged in designing, producing, and selling power semiconductors, smart sensors and smart control products, as well as providing open wafer manufacturing, packaging and testing, and other manufacturing services. | $10 | +41% | $13B | $12B | 7.1x | 38.6x | ||
| Kuang-Chi Technologies Co Ltd is engaged in the research and development, production, and sales of new-generation metamaterial cutting-edge equipment products in China. The company has two segments, which include the Metamaterials business segment and the Metamaterials research and development business segment. The company generates the majority of its revenue from the Metamaterials business segment. | $6 | -7% | $13B | $12B | 40.4x | 87.8x | ||
| Beijing YanDong MicroElectronic Co Ltd is a semiconductor company integrating chip design, wafer manufacturing, packaging and testing. | $9 | +227% | $13B | $13B | 47.4x | (8776.4x) | ||
| Nexchip Semiconductor Corp is a semiconductor foundry specializing in integrated circuit production. The company’s products include display driver chips (DDIC), CMOS image sensors (CIS), microcontrollers (MCU), power management (PMIC), and logic applications (Logic). Its product applications cover consumer electronics, smart phones, smart home appliances, security, industrial control, automotive electronics, and other fields. | $6 | +113% | $13B | $15B | 9.5x | 20.7x | ||
| Shenzhen Kinwong Electronic Co Ltd is engaged in manufacturing and sale of Printed Circuit Boards (PCB). The group offers multi-layer PCB and flexible PCB. The products of the company are applied in consumer electronics, automotive, controller and equipment, network telecommunication and IT & PC peripheral. The firm has built a strategic partnership with global top brands such as Microsoft, Hitachi, Sanyo, Foxconn, Emerson, Honeywell, Logitech, and so on. Geographically operates through the Chinese market. | $13 | +182% | $13B | $13B | 5.6x | 35.6x | ||
| Suzhou Maxwell Technologies Co Ltd is engaged in the design, research & development, production, and sales of intelligent manufacturing equipment. The company’s solar cell equipment portfolio includes HJT heterojunction high-efficiency production lines and automated screen printing lines adaptable to multiple cell processes. It also develops core equipment for display panels covering laser cutting, bonding, repair, and hybrid bonding, and provides semiconductor packaging solutions, particularly in pan-cutting processes. | $44 | +343% | $12B | $12B | 10.1x | 65.5x | ||
| Henan Shijia Photons Technology Co Ltd is engaged in development, production, sales and related technical services of optical chips and devices, indoor optical cables and cable materials. The company's business covers optical chips and devices, indoor optical cables and cable materials. Its main products include PLC splitter chip series products, AWG chip series products, DFB laser chip series products, optical fiber connectors, indoor optical cables, cable materials. | $27 | +543% | $12B | $12B | 38.7x | 169.9x | ||
| Rockchip Electronics Co Ltd is engaged in the design, development, and sales of integrated circuits and application solutions, providing customers with chip-related products and technical services. The company produces application processors, power management chips, and other self-developed devices, serving sectors such as IoT, consumer electronics, automotive, communications, and AI. | $28 | +36% | $12B | $12B | 17.8x | 62.5x | ||
| Sanan Optoelectronics Co Ltd is a China-based full-color ultra-high brightness LED epitaxial and chip manufacturer. It is engaged in the development, production, and sales of full-color and high-brightness LED epitaxial wafers, chips, compound solar cells, and high-powered condenser photovoltaic products. The products offered by the company are a sapphire substrate, an integrated circuit, a solar battery, an LED chip, an optical communication chip, and others. The company is also engaged in the sale of materials and waste materials, as well as the provision of other services such as leasing and property. | $2 | +32% | $12B | $13B | 4.6x | 17.9x | ||
| Ruijie Networks Co Ltd is engaged in the research and development, design and sales of network equipment, network security products and cloud desktop solutions. | $11 | +53% | $12B | $12B | 5.6x | 74.5x | ||
| Anhui Tongguan Copper Foil Group Co Ltd is engaged in the research and development, manufacturing and sales of various high-precision electronic copper foils. | $14 | +815% | $12B | $12B | 11.6x | 196.1x | ||
| Horizon Robotics is a provider of driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, empowered by software and hardware technologies. Its solutions combine algorithms, purpose-built software, and processing hardware, providing the core technologies for assisted and autonomous driving that enhance the safety and experience of drivers and passengers. The company has two reportable segments: Automotive solutions and Non-Automotive solutions. A majority of its revenue is generated from the Automotive solutions segment. Geographically, the company derives a majority of its revenue from Mainland China. | $1 | -15% | $11B | $10B | 18.3x | (13.5x) | ||
| Fiberhome Telecommunication Technologies Co Ltd is a China-based company engaged in the manufacture and sales of communication equipment. Its main products include communication system equipment, optical fibers, cables and data networking products, such as the optical networking products, Internet protocol (IP) data products, broadband access products, optical fibers and cable products, wireless communication products and power supplies, as well as the optoelectronic devices. The company mainly distributes its products in domestic and overseas markets. | $8 | +177% | $11B | $12B | 3.3x | 18.6x | ||
| Sicc Co Ltd is engaged in the research and development, production and sales of silicon carbide substrates. | $23 | +158% | $11B | $11B | 49.2x | 340.0x | ||
| Zhejiang Jingsheng Mechanical and Electrical Co Ltd is engaged in research & development, manufacturing, and sales of crystalline silicon growth equipment and its control systems. The company's main products include single crystal growth furnaces, polycrystalline silicon furnaces, sapphire crystal and ingot furnaces, zone melting silicon furnaces, sapphire wafers, LED device testing and sorting equipment, and related products. | $8 | +112% | $11B | $11B | 6.4x | 33.7x | ||
| SG Micro Corp is a Chinese company engaged in the design, marketing, and selling of integrated circuits. Its products are used in cell phones, televisions, DVD players, digital cameras, notebook computers, consumer electronics, automobile electronics, industrial automation, and medical devices. The product portfolio of the company includes comparators, headphone drivers, audio drivers, video drivers, analog switches, complex switches, load switches, LED drivers, Li-ion battery chargers, and other products. | $17 | +69% | $11B | $11B | 18.3x | 101.6x | ||
| Hubei Dinglong Co Ltd is engaged in producing and supplying imaging chemicals used in electronic displays in China. It designs, develops and manufactures imaging materials for both toner and ink products. The company also offers Charge Control Agents (CCA), colorants and special pigments for both the imaging industry and automotive producers. The products of the company are chemical prepared toner, charge control agent for toner, colorants for inkjet, dispersion and emulsion, plastic colorants, toner cartridges, chemical mechanical polishing pad, among others. | $11 | -- | $11B | $11B | 20.2x | 60.5x | ||
| Shenzhen Transsion Holdings Co Ltd is engaged in the design, research & development, production, sales, and brand operation of smart terminals with mobile phones as the core. The company produces mobile phones under the TECNO, itel, and Infinix brands, offering both feature phones and smartphones. | $9 | -12% | $11B | $8B | 0.9x | 15.7x | ||
| Goke Microelectronics Co Ltd is an integrated circuit design enterprise based in China. The company develops chips and solution for digital cable, satellite, DTMB, and internet. It also provides professional services such as especially application platform, reference design and coordinate software systems. Its other product range consists of NDS advanced security decoding chip, H.265 high-definition chip, high-end acoustic chip, Wi-Fi chip, the high-end solid storage controlling chip and high-definition security monitor chip. | $49 | +317% | $11B | $11B | 40.0x | 754.4x | ||
| Unigroup Guoxin Microelectronics Co Ltd is a professional integrated circuit design company. It provides integrated circuit chips, smart card chips, terminal chips, special ICs, and crystal chips. The company operates through four segments: Management of the Headquarters handles organizational and staffing matters; Crystal Business focuses on quartz crystal frequency devices; Smart Security Chip Business covers chips for smart cards, terminals, and automotive use; and Special Integrated Circuit Business includes microprocessors, memory, and analog components. | $13 | +35% | $11B | $10B | 11.6x | 39.2x | ||
| Maxscend Microelectronics Co Ltd is a Chinese-based company engaged in research, development, and sales of RF front-end chips. The company's main products include RF front-end chips, particularly RF switches and low-noise amplifiers. Its products are mainly used in mobile smart terminals such as smartphones. | $18 | +77% | $10B | $11B | 19.6x | 149.7x | ||
| Hebei Sinopack Electronic Technology Co Ltd is engaged in the research and development, production and sales of electronic ceramic products. | $23 | +232% | $10B | $10B | 23.2x | 74.7x | ||
| United Nova Technology Co Ltd provides foundry service focusing on technology solutions for power, connection, and sensor signal chains. On top of wafer foundry service, It also extended its foundry service to module packages in order to support semiconductor companies with one stop solution. It provides a complete manufacturing platform to support customer mass production as well as technology development. | $1 | +73% | $10B | $11B | 9.3x | 21.6x | ||
| Ingenic Semiconductor Co Ltd is an integrated circuit design enterprise, mainly engaged in the research & development, as well as the sales, of integrated circuit chip products. The company’s main product lines include computing chips, storage chips, and analog and interconnection chips. The company’s products are widely used in automotive electronics, industrial and medical, communication equipment and consumer electronics, and other fields. The company’s chip products encompass processors, memory, and analog circuits, among others. The specific product categories are divided into computing chips, memory chips, analog & interconnect chips. The company generates the majority of its revenue from the memory chips. | $21 | +127% | $10B | $9B | 13.4x | 106.0x | ||
| Headquartered in Yuyao, China, Sunny Optical is one of China’s biggest handset camera modules maker and the world’s largest handset lens sets manufacturer. Higher-margin lens sets are used on smartphones, vehicles, and augmented/virtual reality. Sunny Optical is a key beneficiary of the secular growth of extended-reality devices and vehicle camera demand, as advanced driver-assistance systems witness rising adoption among automakers. The firm also manufactures optical instruments, such as high-end microscopes and optical measuring instruments. The company employed over 33,884 people as of Dec. 31, 2024. | $9 | +21% | $10B | $8B | 1.2x | 6.3x | ||
| Empyrean Technology Co Ltd is engaged in the development, sales, and related services of EDA tool software for integrated circuit design and manufacturing. It also provides technology development and foundry design enablement services, serving the IC design, manufacturing, and packaging sectors. | $18 | 0% | $10B | $10B | 50.8x | 338.1x | ||
| Advanced Fiber Resources (Zhuhai) Ltd is a provider of passive optical components for telecommunication, fiber laser, and fiber sensor applications. The company specializes in fiber optic components and polarization maintaining components. The company designs and manufactures both standard and custom components, and also offers contract manufacturing solutions to its customers. The company's products category comprises components for industrial laser, bio-medical equipment, test equipment and others, components for optical network, and components for fiber sensing. It sells the products in China, and also exports it to the various other countries. | $40 | +598% | $10B | $10B | 45.9x | 224.4x | ||
| CIG Shanghai Co Ltd is an original development manufacturer of the carrier and enterprise-grade customer premise equipment. Its product offerings include wireless network equipment, smart home gateway products, telecom broadband terminals, and other products. | $28 | +429% | $10B | $10B | 13.6x | 121.2x | ||
| ASMPT designs, manufactures, and sells precision equipment used to assemble semiconductors and other electronic equipment. Listed on the Hong Kong Stock Exchange since 1989, ASMPT is headquartered in Hong Kong and has operations in Asia, Europe, and the US. It is the largest supplier globally in both the assembly and packaging equipment market and the surface mounted technology market. Recent growth has been driven by the growing use of advanced packaging in high end memory, logic semiconductors, and electric vehicles. | $24 | +249% | $10B | $10B | 5.5x | 36.6x | ||
| China Greatwall Technology Group Co Ltd is a China-based company engaged in electronic computer hardware, software systems, and supporting components. | $3 | +43% | $10B | $11B | 4.6x | 75.2x | ||
| Suzhou Everbright Photonics Co Ltd is engaged in the research and development, manufacturing and sales of core components in the laser industry such as semiconductor laser chips, devices and modules. | $55 | +633% | $10B | $10B | 137.8x | 699.9x | ||
| Maxone Semiconductor (Suzhou) Co Ltd is engaged in the design and manufacturing of semiconductors. Its business includes research and development, processing, production, and sales of semiconductor products, integrated circuit testing equipment, and computer software, along with after-sales and technical support for related products. The company also sells semiconductor chips, connectors, and relays, and is involved in the import and export of these products and related technologies. | $75 | -- | $10B | $9B | 62.8x | 125.0x | ||
| Loongson Technology Corp Ltd is engaged in the development, sales and service of processors, and supporting chips. | $24 | +29% | $10B | $10B | 103.3x | (190.3x) | ||
| Quantumctek Co Ltd is engaged in production, sales and technical services of quantum communication products. The company's products include Quantum-secure Communication Network Core Equipment; Quantum-secure Application Products; Operating System Software; Core Components; and Teaching Systems & Scientific Instruments. Its solutions, products, and services are used in government, financial and energy industry, ensuring long term quantum safety to numerous users. | $94 | +151% | $10B | $9B | 204.4x | 1076.8x | ||
| Jinko Solar is the largest Chinese solar module manufacturer by global shipment in 2024. Jinko's products are distributed across nearly 200 countries and regions. The company operates a vertically integrated production process, spanning from solar wafer and cell manufacturing to module production. Jinko's N-type cell capacity is industry-leading in scale. | $1 | +25% | $10B | $11B | 1.2x | 29.5x | ||
| Shenzhen Fastprint Circuit Tech Co Ltd is a hardware service supplier. It manufactures for printed circuit boards in China. The company's products mainly include samples and small-lots of PCBs, principally applied in communication, defense, aerospace, medical electronics, industrial control and computer applications, among others. | $6 | +236% | $10B | $10B | 9.6x | 91.1x | ||
| Shenzhen Kaifa Technology Co Ltd is an electronics manufacturing service provider. The firm manufacturers services for computers and storage related products, communication and consumer electronics, semiconductors and IC packing, medical devices, utility meeting systems and commercial and industrial products. | $6 | +141% | $10B | $9B | 4.0x | 23.1x | ||
| CICT Mobile Communication Technology Co Ltd is engaged in the development, application and services of mobile communication technologies. The company’s products include Antenna, RAN, CPE. Its services include Wireless Network Service, Digitization & Intelligent Service, Network Construction, Network Optimization, Digital Talent Empowerment, and Network O&M. | $3 | +235% | $9B | $9B | 9.9x | (7084.5x) | ||
| Raytron Technology Co Ltd is engaged in the research and development, production and sales of infrared MEMS chips, detectors, movements and complete machines. | $20 | +128% | $9B | $9B | 10.0x | 41.0x | ||
| Silicon Motion Technology Corp is engaged in developing NAND flash controllers for SSDs and other solid state storage devices. Its only operating segment is to develop NAND flash controllers and SSDs solutions. The company derives revenue from product categories such as Mobile Storage, Mobile Communications, and others. Silicon's geographical segments are Taiwan, the United States, Korea, China, Singapore, Malaysia, and others. The company products are used in Personal Computing, Smartphone/Tablet/CE, Flash Card/USB Flash Drive, Industrial and Embedded, Automotive, and Enterprise and Data centers. | $276 | +351% | $9B | $9B | 10.3x | 61.6x | ||
| Wuhan Jingce Electronic Group Co Ltd operates in the domestic flat panel display industry. The company is mainly engaged in the research and development, production and sales of flat panel display detection systems. The company's main products include module test system, panel test system, OLED test system, AOI system, touch panel test system and FPD automation equipment. | $33 | +298% | $9B | $10B | 19.6x | 161.2x | ||
| Beijing Huafeng Test & Control Technology Co Ltd is engaged in research, development, production, and sales of semiconductor automated test systems. The company's products include STS 8200 Test System and STS 8300 Test System. | $68 | +246% | $9B | $9B | 45.0x | 98.3x | ||
| SenseTime Group Inc is a software company focused on creating an AI-empowered future through innovation. The company develops software & hardware products for different industry verticals and use cases based on the same AI infrastructure platform & model training framework. The principal activities of the Group are the sale of AI software, the sale of AI software platforms & related services, the sale of AI software-embedded hardware and related services, AIDC service as well as research and development activities with AI technology. The Company is domiciled in the Cayman Islands while the Group mainly operates its businesses in four geographical areas of the world Mainland China, Northeast Asia, Southeast Asia, and others, out of which the majority is from Mainland China. | $0 | +26% | $9B | $8B | 10.9x | (255.2x) | ||
| Jiangsu Yoke Technology Co Ltd is engaged in organic phosphorus flame retardant business, LNG thermal insulation board business, silicon micropowder business, semiconductor chemical materials business, and electronic specialty gas business. | $19 | +148% | $9B | $9B | 7.2x | 33.7x | ||
| Wuhan Guide Infrared Co Ltd is engaged in the research, development, production, and sale of infrared thermal imaging technology. The company’s main business includes the development of infrared focal plane detector chips, thermal imaging devices, and integrated optoelectronic systems centered on infrared imaging technology. Its activities also extend to the provision of complete equipment systems, as well as the production of traditional non-lethal munitions and information-based ammunition. | $2 | +60% | $9B | $9B | 12.8x | 50.2x | ||
| Kingsemi Co Ltd is engaged in the research and development, production and sales of semiconductor-specific equipment. The company's products include photolithography process coating and developing equipment and single-chip wet process equipment. | $42 | +220% | $9B | $9B | 30.0x | 317.6x | ||
| Median | $18 | +151% | $15B | $14B | 12.3x | 57.9x |
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