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companies tracked
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cumulative enterprise value
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median EV/NTM revenue multiple
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median NTM/LTM revenue growth
This chart shows the weighted market cap evolution over time, indexed to 0% at the beginning of the period
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Data as of January 5, 2026. Index data powered by FactSet and Morningstar, S&P 500 data sourced from Yahoo Finance.
This chart shows the weighted median evolution over time of key valuation metrics
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This chart shows the regression relationship between valuation metrics across companies in the index
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Data as of January 5, 2026. Companies with EV multiples above 50x and y-axis values above 300% are considered non-meaningful and excluded from calculation.
This chart shows company rankings by selected metric within the index
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Data as of January 5, 2026. Companies with EV multiples above 50x are considered non-meaningful and excluded from calculation.
Compare key metrics between companies in the index
| Comp 1 | Comp 2 | Comp 3 |
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Data as of January 5, 2026.
This chart shows the cumulative sum of selected metrics across all companies in the index over time
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Similar to NASDAQ 100 Index, 🇨🇳 Multiples China Tech Index employs a modified market capitalization weighting scheme.
The weight process uses company-level weightss, which are derived using company enterprise value.
Company weights are evaluated based on two rules:
No company’s weight may exceed 24%.
The aggregate weight of the companies whose weights exceed 4.5% may not exceed 48%.
If neither rule is 'violated', then no adjustments are made. Only in cases where either or both of the rules are 'violated', weight adjustments are made according to a two-stage adjustment process.
If no company’s initial weight exceeds 24% of the Index, initial weights are used as Rule 1 weights without adjustment. Otherwise, initial weights are adjusted such that no company’s weight may exceed 20% of the Index.
If the aggregate weight of the companies whose Rule 1 weights exceeds 4.5% and does not exceed 48%, Rule 1 weights are used as the final weights. Otherwise, Rule 1 weights are adjusted such that:
If the two-stage rule process results in a 'violation' of the weighting rules as previously detailed, then the process is repeated until the company weights meet the rule system.
| Company | HQ | Stock Price | 1Y Perf. | Market Cap | EV/Revenue (LTM) | EV/Revenue (NTM) | Revenue Growth NTM/LTM | Gross Margin (NTM) | EBITDA Margin (NTM) | FCF Margin (NTM) | Rule of 40 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tencent | Hong Kong | HKD 623 | +42.5% | $723107.2173696668M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Alibaba Group | Hong Kong | HKD 149 | +72.1% | $365504.5304021977M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| CATL | China | CNY 370 | +39.2% | $241513.35349564507M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| China Mobile | China | CNY 75 | +1.2% | $230954.2113103875M | 1.3x | 1.3x | 2% | 28% | 33% | 18% | 35% |
| Foxconn Industrial | China | CNY 62 | +188.6% | $176111.63890897692M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Xiaomi | Hong Kong | HKD 40 | +13.1% | $134251.8114158723M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| BYD | China | CNY 93 | +3.0% | $121008.75019580396M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| PDD Holdings | United States of America | USD 116 | +16.9% | $164324.077976M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| SMIC | Hong Kong | HKD 90 | +79.3% | $93018.21201987928M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Cambricon Technologies | China | CNY 1356 | +106.0% | $81697.8478929096M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Hygon Information Technology | China | CNY 224 | +49.8% | $74550.10378412418M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| NetEase | Hong Kong | HKD 229 | +54.5% | $93090.46988850748M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| China Telecom | Hong Kong | HKD 7 | -6.7% | $79654.88689206332M | 0.9x | 0.9x | 2% | 29% | 27% | 13% | 30% |
| Meituan | Hong Kong | HKD 105 | -32.6% | $82089.89175805937M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Luxshare Precision | China | CNY 57 | +39.1% | $59052.78386170052M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Eoptolink | China | CNY 431 | +421.9% | $61214.39142358189M | 16.8x | 9.6x | 76% | 50% | 45% | 18% | 121% |
| NAURA Technology Group | China | CNY 459 | +58.5% | $47535.61291618908M | 8.5x | 6.7x | 27% | 44% | 24% | 9% | 51% |
| Baidu | Hong Kong | HKD 144 | +58.9% | $50822.66655228918M | 2.6x | 2.4x | 5% | 44% | 19% | 13% | 24% |
| Trip.com Group | Hong Kong | HKD 583 | +2.6% | $48969.125387362685M | 4.8x | 4.2x | 14% | 80% | 30% | 34% | 44% |
| Hangzhou Hik-Vision | China | CNY 30 | -2.8% | $39086.96487318654M | 2.6x | 2.3x | 9% | 44% | 19% | 13% | 28% |
| TCL | China | CNY 5 | -9.7% | $13497.208045981844M | 1.2x | 1.1x | 10% | 13% | 21% | NaN% | 31% |
| Kuaishou | Hong Kong | HKD 66 | +53.8% | $36696.10456485481M | 1.5x | 1.4x | 10% | 56% | 21% | 20% | 31% |
| JD.com | Hong Kong | HKD 118 | -16.2% | $42899.18107540256M | 0.2x | 0.2x | 6% | 16% | 3% | 2% | 8% |
| East Money | China | CNY 23 | -10.2% | $52358.62526735541M | 13.3x | 11.7x | 14% | 97% | 97% | NaN% | 111% |
| China Unicom | Hong Kong | HKD 8 | +5.1% | $31693.30650823163M | 0.5x | 0.5x | 3% | NaN% | 24% | 11% | 27% |
| ZTE | China | CNY 36 | -5.2% | $24421.707050984787M | 1.3x | 1.2x | 12% | 33% | 9% | 4% | 21% |
| Tencent Music | Hong Kong | HKD 70 | +55.8% | $27584.81066636045M | 5.4x | 4.8x | 13% | 44% | 34% | 32% | 47% |
| Hithink RoyalFlush Info | China | CNY 322 | +12.1% | $24755.094265621705M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Advanced Micro | China | CNY 273 | +44.2% | $24406.12691305828M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Shennan Circuits | China | CNY 232 | +141.6% | $22135.75247090305M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| TFC Optical Communication | China | CNY 203 | +211.1% | $22559.027597723612M | 26.9x | 18.0x | 50% | 52% | 47% | 27% | 97% |
| Will Semiconductor | China | CNY 126 | +20.6% | $21762.25593586105M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| China Satellite | China | CNY 36 | +75.1% | $21572.640074902345M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| DiDi | United States of America | USD 6 | +15.5% | $25889.372274M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| China United Network | China | CNY 5 | -3.8% | $22833.794998288995M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Kingsoft Office Software | China | CNY 307 | +7.2% | $20327.935389632526M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| XPeng | Hong Kong | HKD 80 | +68.7% | $19700.905320928847M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| GigaDevice | China | CNY 214 | +100.6% | $20450.601496545674M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Hua Hong Semiconductor | Hong Kong | HKD 90 | +199.9% | $20070.646752816945M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Montage Technology | China | CNY 118 | +73.5% | $19301.820030963292M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Sugon | China | CNY 86 | +18.4% | $17908.619174171246M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| iFlytek | China | CNY 50 | +4.1% | $16616.80655943584M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| IEIT Systems | China | CNY 67 | +28.4% | $13978.096138216439M | 0.7x | 0.5x | 33% | 7% | 2% | -1% | 35% |
| JD Health | Hong Kong | HKD 56 | +96.6% | $23183.7411345806M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Avary Holding (Shenzhen) | China | CNY 51 | +38.7% | $16757.47429812327M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Horizon Robotics | Germany | EUR 1 | +111.4% | $16022.170637830319M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Lenovo | Hong Kong | HKD 10 | -8.5% | $15223.96163949453M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| KE Holdings | Hong Kong | HKD 42 | -12.4% | $18805.272690509213M | 1.1x | 1.1x | 2% | 21% | 8% | 7% | 10% |
| Goertek | China | CNY 29 | +11.3% | $14559.203470835135M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Range Intelligent | China | CNY 53 | +1.6% | $12333.43443023878M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| NIO | Hong Kong | HKD 41 | +17.1% | $13376.982276800945M | 1.1x | 0.8x | 47% | 15% | 0% | -5% | 47% |
| United Imaging | China | CNY 126 | -0.7% | $14782.944462793675M | 7.6x | 6.2x | 22% | 48% | 18% | 9% | 39% |
| Unisplendour Corp | China | CNY 25 | -11.6% | $10055.878474082092M | 1.0x | 0.8x | 17% | 18% | 4% | 2% | 21% |
| Huaqin Technology | China | CNY 91 | +27.9% | $13173.003404417645M | 0.6x | 0.5x | 17% | 9% | 4% | 1% | 20% |
| Arashi Vision | China | CNY 235 | NaN% | $13462.761019659838M | 9.8x | 6.6x | 49% | 50% | 11% | NaN% | 59% |
| Piotech | China | CNY 330 | +114.7% | $13261.122661520543M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Huagong Tech | China | CNY 79 | +83.2% | $11400.59310363922M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Giant Network Group Co. | China | CNY 43 | +241.1% | $11970.69389474242M | 15.3x | 10.1x | 52% | 91% | 51% | NaN% | 103% |
| ACM Research (Shanghai) | China | CNY 176 | +76.0% | $12081.840171303762M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| National Silicon Industry | China | CNY 22 | +15.0% | $10222.062721559341M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Sanan Optoelectronics | China | CNY 14 | +16.1% | $10075.440512191222M | 3.9x | 3.6x | 10% | 8% | 23% | NaN% | 33% |
| SenseTime Group | Hong Kong | HKD 2 | +46.7% | $11033.46604220309M | 14.9x | 11.6x | 29% | 46% | -24% | -14% | 5% |
| Rockchip | China | CNY 178 | +62.0% | $10725.53318320295M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| VeriSilicon | China | CNY 137 | +161.2% | $10294.397026037319M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Nova | United States of America | USD 347 | +66.7% | $10299.486845M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Ruijie Networks | China | CNY 89 | +72.2% | $10095.668474521955M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Beijing Compass Tech | China | CNY 131 | +97.8% | $11376.381505593396M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Beijing E-Town | China | CNY 24 | NaN% | $10340.89053699115M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| JCET Group | China | CNY 37 | -10.0% | $9406.529921583584M | 1.7x | 1.5x | 13% | 17% | 16% | 5% | 30% |
| Full Truck Alliance | United States of America | USD 11 | -0.8% | $11766.309669M | 5.4x | 5.0x | 8% | 65% | 40% | 36% | 48% |
| Alibaba Health | Hong Kong | HKD 5 | +52.0% | $10796.129390105549M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Guoxin Micro | China | CNY 79 | +22.4% | $9570.064456052536M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Guide Infrared | China | CNY 15 | +97.4% | $8954.46406469654M | 11.2x | 9.3x | 21% | 42% | 27% | NaN% | 47% |
| China Resources Microelectronics | China | CNY 53 | +12.0% | $10029.471607694868M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Anker Innovations | China | CNY 114 | +17.2% | $8765.713615289236M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Bilibili | Hong Kong | HKD 200 | +34.3% | $10434.903492851845M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Qihoo 360 | China | CNY 11 | +7.9% | $11174.562512297474M | 7.0x | 6.6x | 5% | NaN% | 0% | NaN% | 5% |
| Centec Communications | China | CNY 142 | +68.7% | $8302.89994085664M | 42.8x | 31.2x | 37% | 45% | 4% | NaN% | 41% |
| Empyrean Technology | China | CNY 106 | -12.2% | $8289.104988661047M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| SAIC Motor | China | CNY 15 | -26.7% | $25005.806116992913M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Hundsun | China | CNY 30 | +7.7% | $8162.140274974938M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Transsion Holdings | China | CNY 66 | -30.4% | $10885.470224281158M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Loongson Technology | China | CNY 132 | -0.1% | $7571.5851779789755M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Kunlun | China | CNY 42 | +8.4% | $7481.867874082145M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Wingtech | China | CNY 37 | -3.9% | $6631.754168812828M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Leapmotor Technology | Hong Kong | HKD 50 | +50.7% | $9055.514719180204M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| BOSS Zhipin | Hong Kong | HKD 79 | +48.3% | $9532.409712648492M | 5.8x | 5.2x | 13% | 85% | 45% | 46% | 58% |
| Yonyou Hong Kong | China | CNY 13 | +23.6% | $6475.822267015683M | 5.0x | 4.5x | 9% | 55% | 11% | -1% | 21% |
| Baosight | China | CNY 17 | -30.4% | $7095.617250680651M | 3.9x | 3.6x | 10% | 28% | 18% | NaN% | 29% |
| iSoftstone | China | CNY 47 | -19.2% | $6459.902530849913M | 1.3x | 1.2x | 14% | 10% | NaN% | NaN% | n/a |
| Li Auto | Hong Kong | HKD 68 | -31.5% | $17722.659386361927M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Kingdee | Hong Kong | HKD 14 | +54.7% | $6418.085133813952M | 6.0x | 5.3x | 14% | 68% | 12% | 7% | 26% |
| China National Software | China | CNY 46 | -0.8% | $6179.244336765942M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| HopeRun | China | CNY 49 | -1.1% | $5634.418603053981M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Vipshop | United States of America | USD 18 | +31.3% | $8731.029999M | 0.4x | 0.4x | 2% | 23% | 10% | 8% | 12% |
| Changhong | China | CNY 9 | -5.7% | $6003.947922836253M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Roborock | China | CNY 152 | -2.9% | $5631.18532007682M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Unisound Ai Technology Co | Hong Kong | HKD 418 | NaN% | $3827.6785048239385M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| NetEase Cloud Music | Hong Kong | HKD 188 | +60.7% | $5117.306876411463M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
Stock prices as of January 5, 2026. Rule of 40 and revenue per FTE data is based on the last fiscal year. Financial data powered by Morningstar and FactSet.
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