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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 February 19, 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 February 19, 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 February 19, 2026. Companies with EV multiples above 50x are considered non-meaningful and excluded from calculation.
Compare key metrics between companies in the index
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Data as of February 19, 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 535 | +42.5% | $616948.9100622027M | 5.7x | 5.2x | 10% | 57% | 44% | 31% | 54% |
| Alibaba Group | Hong Kong | HKD 155 | +72.1% | $378033.5333709719M | 2.5x | 2.3x | 9% | 41% | 17% | 7% | 26% |
| CATL | China | CNY 368 | +39.2% | $242925.2995816278M | 3.4x | 2.7x | 25% | 26% | 24% | 21% | 49% |
| China Mobile | China | CNY 70 | +1.0% | $218998.30495828958M | 1.2x | 1.2x | 2% | 28% | 33% | 18% | 35% |
| Foxconn Industrial | China | CNY 55 | +188.6% | $157046.97660044325M | 1.2x | 0.7x | 70% | 2% | 5% | 2% | 75% |
| Xiaomi | Hong Kong | HKD 37 | +13.1% | $122286.98007614317M | 1.6x | 1.4x | 21% | 23% | 10% | 8% | 31% |
| BYD | China | CNY 89 | +2.9% | $116816.52789266601M | 0.9x | 0.8x | 14% | 16% | 13% | 6% | 27% |
| SMIC | Hong Kong | HKD 86 | +79.3% | $87834.18604395662M | 9.7x | 8.1x | 19% | 23% | 50% | -18% | 70% |
| Hygon Information Technology | China | CNY 259 | +49.8% | $86977.18125837237M | 41.4x | 27.3x | 52% | 62% | 32% | 17% | 84% |
| PDD Holdings | United States of America | USD 100 | +16.9% | $142362.147209M | 1.3x | 1.2x | 15% | 58% | 25% | 27% | 40% |
| Cambricon Technologies | China | CNY 1121 | +106.0% | $68261.46703931883M | 67.1x | 32.0x | 110% | 55% | 36% | -15% | 146% |
| China Telecom | Hong Kong | HKD 6 | -6.7% | $72348.9919536971M | 0.8x | 0.8x | 2% | 29% | 27% | 13% | 30% |
| Luxshare Precision | China | CNY 51 | +39.1% | $53463.5295078136M | 1.2x | 1.0x | 22% | 14% | 9% | 5% | 31% |
| NetEase | Hong Kong | HKD 187 | +54.5% | $75872.63843358056M | 3.3x | 3.1x | 8% | 64% | 35% | 33% | 43% |
| Eoptolink | China | CNY 366 | +421.9% | $52566.33673474175M | 14.4x | 8.1x | 77% | 50% | 45% | 18% | 122% |
| Meituan | Hong Kong | HKD 82 | -32.6% | $64189.46754824467M | 1.0x | 0.9x | 13% | 33% | 3% | 5% | 16% |
| NAURA Technology Group | China | CNY 486 | +58.5% | $50896.37892353908M | 9.0x | 7.1x | 27% | 44% | 24% | 9% | 51% |
| Baidu | Hong Kong | HKD 137 | +58.9% | $48242.9907617476M | 2.4x | 2.3x | 5% | 44% | 19% | 13% | 24% |
| Hangzhou Hik-Vision | China | CNY 32 | -2.8% | $42865.59884267981M | 2.8x | 2.6x | 9% | 44% | 19% | 13% | 28% |
| TFC Optical Communication | China | CNY 312 | +211.1% | $34988.7683541932M | 41.9x | 27.9x | 50% | 52% | 47% | 26% | 97% |
| TCL | China | CNY 5 | -9.7% | $13700.986964847545M | 1.2x | 1.1x | 10% | 13% | 21% | NaN% | 31% |
| Kuaishou | Hong Kong | HKD 68 | +53.7% | $38118.57178101977M | 1.6x | 1.5x | 10% | 56% | 21% | 20% | 31% |
| Advanced Micro | China | CNY 344 | +44.2% | $31158.032393497084M | 16.9x | 12.7x | 33% | 42% | 21% | 10% | 54% |
| GigaDevice | China | CNY 310 | +100.6% | $31351.82849171966M | 21.8x | 16.8x | 29% | 42% | 23% | 12% | 52% |
| Trip.com Group | Hong Kong | HKD 419 | +2.6% | $35040.15531889038M | 3.2x | 2.8x | 14% | 80% | 31% | 34% | 44% |
| Montage Technology | China | CNY 165 | +73.5% | $29048.388775131563M | 33.9x | 25.2x | 35% | 62% | 45% | 36% | 80% |
| East Money | China | CNY 22 | -10.2% | $51066.92514627424M | 12.4x | 11.0x | 14% | 97% | 98% | NaN% | 111% |
| JD.com | Hong Kong | HKD 108 | -16.2% | $39297.76445652936M | 0.1x | 0.1x | 6% | 16% | 3% | 2% | 8% |
| ZTE | China | CNY 35 | -5.2% | $24292.99223015469M | 1.3x | 1.2x | 12% | 33% | 9% | 4% | 21% |
| Hithink RoyalFlush Info | China | CNY 337 | +12.1% | $26202.855409404976M | 30.6x | 25.6x | 20% | 90% | 50% | NaN% | 70% |
| China Unicom | Hong Kong | HKD 7 | +5.1% | $28383.68134511435M | 0.4x | 0.4x | 3% | NaN% | 24% | 11% | 27% |
| Shennan Circuits | China | CNY 235 | +141.6% | $23122.07855328495M | 7.1x | 5.6x | 26% | 30% | 22% | 11% | 48% |
| Hua Hong Semiconductor | Hong Kong | HKD 111 | +199.9% | $24442.464002234316M | 9.6x | 7.6x | 25% | 19% | 32% | -35% | 57% |
| Will Semiconductor | China | CNY 116 | +20.6% | $21095.707000642065M | 4.8x | 3.9x | 21% | 32% | 22% | 11% | 43% |
| China Satellite | China | CNY 35 | +75.1% | $21582.624876705508M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| VeriSilicon | China | CNY 275 | +161.2% | $20928.7386552722M | 41.3x | 28.6x | 45% | 38% | 11% | 15% | 56% |
| Tencent Music | Hong Kong | HKD 59 | +55.8% | $23264.7883165906M | 4.5x | 4.0x | 13% | 44% | 34% | 32% | 47% |
| Kingsoft Office Software | China | CNY 307 | +7.2% | $20566.94862623992M | 23.3x | 19.6x | 19% | 86% | 33% | 20% | 52% |
| iFlytek | China | CNY 57 | +4.1% | $19074.494987649603M | 5.0x | 4.3x | 18% | 42% | 11% | 1% | 29% |
| Range Intelligent | China | CNY 76 | +1.6% | $18059.69714481076M | 23.2x | 16.3x | 42% | 47% | 64% | NaN% | 106% |
| Sugon | China | CNY 92 | +18.4% | $19379.99673429007M | 9.0x | 7.9x | 13% | 30% | 26% | NaN% | 39% |
| China United Network | China | CNY 5 | -3.8% | $21676.90908109631M | 0.3x | 0.3x | 2% | 23% | 25% | NaN% | 28% |
| JD Health | Hong Kong | HKD 60 | +96.6% | $24700.46434363879M | 1.7x | 1.5x | 17% | 25% | 6% | 8% | 23% |
| Avary Holding (Shenzhen) | China | CNY 55 | +38.7% | $18301.98881027279M | 3.0x | 2.6x | 17% | 23% | 19% | 5% | 36% |
| XPeng | Hong Kong | HKD 69 | +68.7% | $16929.596499028343M | 1.5x | 1.1x | 44% | 17% | 3% | 5% | 47% |
| IEIT Systems | China | CNY 65 | +28.4% | $13857.51550926411M | 0.7x | 0.5x | 33% | 7% | 2% | -1% | 36% |
| DiDi | United States of America | USD 5 | +15.5% | $21419.264831M | 0.5x | 0.5x | 10% | 20% | 4% | 3% | 13% |
| KE Holdings | Hong Kong | HKD 46 | -12.4% | $19907.733116779757M | 1.2x | 1.2x | 2% | 21% | 8% | 7% | 10% |
| Horizon Robotics | Germany | EUR 1 | +111.4% | $15959.70259897233M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Lenovo | Hong Kong | HKD 9 | -8.5% | $14697.162737989303M | 0.2x | 0.2x | 9% | 18% | 5% | 2% | 14% |
| Unisplendour Corp | China | CNY 26 | -11.6% | $10534.74458857762M | 1.0x | 0.8x | 17% | 18% | 4% | 2% | 21% |
| United Imaging | China | CNY 126 | -0.7% | $14999.842046454627M | 7.6x | 6.3x | 22% | 48% | 18% | 9% | 39% |
| Huaqin Technology | China | CNY 89 | +27.9% | $13040.342443110925M | 0.6x | 0.5x | 17% | 9% | 4% | 1% | 20% |
| NIO | Hong Kong | HKD 40 | +17.1% | $12757.68385094373M | 1.1x | 0.7x | 48% | 15% | 0% | -1% | 48% |
| Goertek | China | CNY 26 | +11.3% | $13397.959182528894M | 0.9x | 0.8x | 18% | 12% | 7% | 1% | 26% |
| SenseTime Group | Hong Kong | HKD 3 | +46.7% | $13654.672741815766M | 18.9x | 14.6x | 29% | 46% | -24% | -15% | 5% |
| Piotech | China | CNY 325 | +114.7% | $13254.6718401923M | 14.1x | 10.5x | 35% | 42% | 21% | 1% | 56% |
| Nova | United States of America | USD 442 | +66.7% | $13115.581351M | 14.6x | 13.3x | 10% | 58% | 36% | 29% | 46% |
| Arashi Vision | China | CNY 225 | NaN% | $13015.26794737218M | 9.4x | 6.3x | 49% | 50% | 11% | NaN% | 59% |
| JCET Group | China | CNY 46 | -10.0% | $11923.399409748134M | 2.1x | 1.9x | 13% | 17% | 16% | 5% | 30% |
| Sanan Optoelectronics | China | CNY 16 | +16.1% | $11465.44676378714M | 4.4x | 4.0x | 10% | 8% | 23% | NaN% | 33% |
| ACM Research (Shanghai) | China | CNY 179 | +76.0% | $12443.502064664544M | 11.4x | 9.1x | 26% | 49% | 27% | 12% | 52% |
| Alibaba Health | Hong Kong | HKD 6 | +52.0% | $12729.569852924174M | 2.4x | 2.1x | 13% | 25% | 7% | 9% | 21% |
| Huagong Tech | China | CNY 75 | +83.2% | $10882.90016390491M | 4.5x | 3.5x | 29% | 23% | 12% | NaN% | 42% |
| Giant Network Group Co. | China | CNY 41 | +241.1% | $11446.971692286417M | 14.5x | 9.6x | 50% | 90% | 51% | NaN% | 102% |
| Rockchip | China | CNY 184 | +62.0% | $11209.547807988603M | 17.1x | 13.3x | 28% | 42% | 29% | NaN% | 57% |
| Bilibili | Hong Kong | HKD 242 | +34.3% | $12598.620102343932M | 2.5x | 2.3x | 9% | 38% | 15% | 12% | 24% |
| Kunlun | China | CNY 60 | +8.4% | $10950.600374218102M | 9.1x | 7.7x | 18% | 73% | 1% | NaN% | 19% |
| Beijing E-Town | China | CNY 25 | NaN% | $10852.28010973776M | 13.8x | 10.4x | 33% | 44% | 19% | NaN% | 53% |
| Guide Infrared | China | CNY 17 | +97.4% | $10388.443746602154M | 12.9x | 10.7x | 21% | 42% | 27% | NaN% | 47% |
| National Silicon Industry | China | CNY 21 | +15.0% | $9824.842037663084M | 19.3x | 14.2x | 36% | 28% | 38% | NaN% | 74% |
| Centec Communications | China | CNY 177 | +68.7% | $10508.50787226976M | 54.2x | 39.4x | 37% | 45% | 4% | NaN% | 41% |
| China Resources Microelectronics | China | CNY 60 | +12.0% | $11461.278653430374M | 6.3x | 5.6x | 13% | 27% | 21% | 7% | 34% |
| Qihoo 360 | China | CNY 13 | +7.9% | $13042.654432855246M | 8.4x | 8.0x | 5% | NaN% | 0% | NaN% | 5% |
| Ruijie Networks | China | CNY 83 | +72.2% | $9522.934087642565M | 4.4x | 3.6x | 24% | 36% | 9% | 7% | 33% |
| Guoxin Micro | China | CNY 77 | +22.4% | $9509.954451791104M | 9.7x | 8.4x | 15% | 56% | 34% | NaN% | 49% |
| Loongson Technology | China | CNY 159 | -0.1% | $9181.353459447993M | 100.3x | 69.1x | 45% | 51% | NaN% | -35% | n/a |
| Beijing Compass Tech | China | CNY 115 | +97.8% | $10147.931030872893M | 29.9x | 24.1x | 24% | NaN% | NaN% | NaN% | n/a |
| Empyrean Technology | China | CNY 106 | -12.2% | $8322.1976791537M | 38.5x | 29.3x | 31% | 94% | 19% | NaN% | 50% |
| Hundsun | China | CNY 30 | +7.7% | $8317.431687387143M | 8.6x | 7.7x | 11% | 72% | 19% | NaN% | 30% |
| Baosight | China | CNY 20 | -30.4% | $8228.854379284056M | 4.5x | 4.1x | 10% | 28% | 18% | NaN% | 29% |
| Full Truck Alliance | United States of America | USD 9 | -0.8% | $9915.076948M | 4.3x | 4.0x | 8% | 65% | 40% | 36% | 48% |
| Yonyou Hong Kong | China | CNY 15 | +23.6% | $7206.147937427478M | 5.4x | 5.0x | 9% | 55% | 11% | -1% | 20% |
| Anker Innovations | China | CNY 99 | +17.2% | $7643.148804824344M | 1.6x | 1.3x | 21% | 44% | 9% | 4% | 31% |
| Li Auto | Hong Kong | HKD 72 | -31.5% | $18656.4825611587M | 0.4x | 0.3x | 25% | 20% | 5% | 3% | 30% |
| iSoftstone | China | CNY 47 | -19.2% | $6538.3079455189945M | 1.3x | 1.2x | 14% | 10% | NaN% | NaN% | n/a |
| SAIC Motor | China | CNY 14 | -26.7% | $23777.60708599949M | 0.1x | 0.1x | 7% | 11% | 6% | 2% | 13% |
| Transsion Holdings | China | CNY 59 | -30.4% | $9749.234417556483M | 0.6x | 0.6x | 12% | 22% | 7% | 6% | 19% |
| Wingtech | China | CNY 33 | -3.9% | $5965.266712096356M | 1.2x | 2.4x | -50% | 35% | 33% | 13% | -17% |
| Leapmotor Technology | Hong Kong | HKD 45 | +50.7% | $8237.330065386797M | 0.6x | 0.4x | 58% | 13% | 4% | 4% | 62% |
| HopeRun | China | CNY 49 | -1.1% | $5662.190032334398M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| China National Software | China | CNY 45 | -0.8% | $6087.214868530964M | 7.0x | 6.2x | 13% | 43% | 7% | NaN% | 19% |
| Changhong | China | CNY 10 | -5.7% | $6481.278901752058M | NaNx | NaNx | NaN% | NaN% | NaN% | NaN% | n/a |
| Vipshop | United States of America | USD 18 | +31.3% | $8647.219999M | 0.4x | 0.3x | 2% | 23% | 10% | 8% | 12% |
| BOSS Zhipin | Hong Kong | HKD 67 | +48.3% | $7949.578971395569M | 4.5x | 4.0x | 13% | 85% | 46% | 46% | 58% |
| Roborock | China | CNY 148 | -2.9% | $5546.66528049315M | 1.8x | 1.5x | 23% | 45% | 11% | 2% | 33% |
| Kingdee | Hong Kong | HKD 11 | +54.7% | $4997.01036466426M | 4.6x | 4.0x | 14% | 68% | 12% | 7% | 26% |
| Unisound Ai Technology Co | Hong Kong | HKD 350 | NaN% | $3226.5526097811357M | 17.8x | 11.6x | 53% | 40% | -6% | NaN% | 47% |
| NetEase Cloud Music | Hong Kong | HKD 163 | +60.7% | $4400.304338468372M | 2.5x | 2.3x | 11% | 39% | 23% | 26% | 34% |
Stock prices as of February 19, 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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