---
title: "Hwatsing Technology Co.,Ltd. (688120.SH)"
type: "Symbol"
locale: "en"
url: "https://longbridge.com/en/quote/688120.SH.md"
symbol: "688120.SH"
name: "Hwatsing Technology Co.,Ltd."
industry: "Semiconductor Materials and Equipment"
datetime: "2026-05-20T16:47:27.560Z"
locales:
  - [en](https://longbridge.com/en/quote/688120.SH.md)
  - [zh-CN](https://longbridge.com/zh-CN/quote/688120.SH.md)
  - [zh-HK](https://longbridge.com/zh-HK/quote/688120.SH.md)
---

# Hwatsing Technology Co.,Ltd. (688120.SH)

## Company Overview

Hwatsing Technology Co., Ltd. engages in the research, development, production, sales, and technical services of semiconductor equipment in China and internationally. The company offers chemical mechanical polishers, implanters, grinders, bevel polishers, dicers, wet process and film metrology equipment, wafer regeneration and reclaim services, and consumables and maintenance services. Its products are mainly used in integrated circuits, advanced packaging, advanced packaging, large silicon wafers, MEMS, micro-LED, and other third-generation semiconductors.

| Item | Detail |
|------|--------|
| Industry | Semiconductor Materials and Equipment |
| Exchange | CN Market |
| Website | [www.hwatsing.com](https://www.hwatsing.com) |

## Key Drivers
> *AI-analyzed key factors driving this stock's performance*


## Longbridge Financial Score™: B
> *Longbridge Financial Score™ — Proprietary multi-factor rating model by Longbridge*
> Updated: 2026-05-20T04:30:09.000Z

**Overall: B (0.35)**

**Industry**: Semiconductor Materials and Equipment

| Metric | Value |
|--------|-------|
| Industry Ranking | 5 / 63 |
| Industry Median | C |
| Industry Average | C |

- **Style**: Growth - Stocks whose main business is in the growth stage.
- **Scale**: Mid - The company has stable operation of a large-cap stock and the high return of a small-cap stock.

**Multi Score**: B

#### Style Score Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | 35.69% |  |
| Net Profit YoY | 4.07% |  |
| P/B Ratio | 12.72 |  |
| Dividend Ratio | 0.13% |  |

#### Size Score Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Market Cap | 98348414968.01 |  |
| Revenue | 4945927918.15 |  |

#### Multi Score Score: B

| Indicator | Value | Rating |
|-----------|-------|--------|
| ROE | 15.19% | A |
| Profit Margin | 22.23% | A |
| Gross Margin | 42.31% | B |
| Revenue YoY | 35.69% | A |
| Net Profit YoY | 4.07% | C |
| Total Assets YoY | 16.07% | B |
| Net Assets YoY | 14.76% | B |
| Cash Flow Margin | 72.41% | C |
| OCF YoY | 35.69% | A |
| Turnover | 0.39 | C |
| Gearing Ratio | 42.98% | C |

```chart-data:radar
{
  "title": "Longbridge Financial Score - Hwatsing Technology Co.,Ltd.",
  "chart_type": "radar",
  "dimensions": [
    {
      "name": "Style Score",
      "grade": "",
      "indicators": [
        {
          "name": "Revenue YoY",
          "value": "35.69%",
          "rating": ""
        },
        {
          "name": "Net Profit YoY",
          "value": "4.07%",
          "rating": ""
        },
        {
          "name": "P/B Ratio",
          "value": "12.72",
          "rating": ""
        },
        {
          "name": "Dividend Ratio",
          "value": "0.13%",
          "rating": ""
        }
      ]
    },
    {
      "name": "Size Score",
      "grade": "",
      "indicators": [
        {
          "name": "Market Cap",
          "value": "98348414968.01",
          "rating": ""
        },
        {
          "name": "Revenue",
          "value": "4945927918.15",
          "rating": ""
        }
      ]
    },
    {
      "name": "Multi Score",
      "grade": "B",
      "indicators": [
        {
          "name": "ROE",
          "value": "15.19%",
          "rating": "A"
        },
        {
          "name": "Profit Margin",
          "value": "22.23%",
          "rating": "A"
        },
        {
          "name": "Gross Margin",
          "value": "42.31%",
          "rating": "B"
        },
        {
          "name": "Revenue YoY",
          "value": "35.69%",
          "rating": "A"
        },
        {
          "name": "Net Profit YoY",
          "value": "4.07%",
          "rating": "C"
        },
        {
          "name": "Total Assets YoY",
          "value": "16.07%",
          "rating": "B"
        },
        {
          "name": "Net Assets YoY",
          "value": "14.76%",
          "rating": "B"
        },
        {
          "name": "Cash Flow Margin",
          "value": "72.41%",
          "rating": "C"
        },
        {
          "name": "OCF YoY",
          "value": "35.69%",
          "rating": "A"
        },
        {
          "name": "Turnover",
          "value": "0.39",
          "rating": "C"
        },
        {
          "name": "Gearing Ratio",
          "value": "42.98%",
          "rating": "C"
        }
      ]
    }
  ]
}
```

## Valuation Analysis

| Metric | Current | Industry Ranking | High | Median | Low |
|--------|---------|-----------------|------|--------|-----|
| PE (TTM) | 96.02 | 17/63 | 58.87 | 48.45 | 37.48 |
| PB | 13.65 | 55/63 | 8.88 | 7.54 | 5.99 |
| PS (TTM) | 21.35 | 42/63 | 15.26 | 13.12 | 10.81 |
| Dividend Yield | 0.12% | 30/63 | 0.29% | 0.24% | 0.20% |

## Peer Comparison

| Rank | Name | Profit | Growth | Operation | Security | Cash | Rating |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 01 | NAURA (002371.SZ) | B | B | C | C | B | B |
| 02 | AMEC (688012.SH) | B | A | C | A | B | B |
| 03 | Piotech (688072.SH) | A | A | C | D | A | B |
| 04 | CCTech (300604.SZ) | A | A | B | C | B | B |
| 05 | HWATSING (688120.SH) | B | B | C | C | B | B |

## Institutional View

### Analyst Rating Distribution

> As of 2026-05-11T16:00:00.000Z

Total Analysts: **6**

| Rating | Count | Percentage |
|--------|-------|-----------| 
| Buy | 5 | 83% |
| Hold | 1 | 17% |

### Target Price Forecast

| Metric | Price |
|--------|-------|
| Current Price | 298.00 |
| Highest Target | 242.00 |
| Lowest Target | 153.02 |

## References

- [Company Overview — Profile, executives, shareholders, business breakdown](https://longbridge.com/en/quote/688120.SH/overview.md)
- [Financial Reports — Income, balance sheet, cash flow, dividends](https://longbridge.com/en/quote/688120.SH/norm.md)
- [Related News](https://longbridge.com/en/quote/688120.SH/news.md)
- [Filings — Company announcements and regulatory filings](https://longbridge.com/en/quote/688120.SH/filings.md)

---

> **Disclaimer: This article is for reference only and does not constitute any investment advice.**