What is Shenzhen Newway Photomask Making Co., Ltd's (688401.SS) StockRank?

MoatMap's StockRank for Shenzhen Newway Photomask Making Co., Ltd (688401.SS) is 62/100, with a Hold signal. This is a composite score combining Quality (54), Value (26), and Momentum (72) factor ranks across MoatMap's 20,000+ stock universe.

Does Shenzhen Newway Photomask Making Co., Ltd have an economic moat?

Shenzhen Newway Photomask Making Co., Ltd (688401.SS) has a Quality factor score of 54/100. The Quality factor combines ROIC, Piotroski F-Score, and leverage — the financial fingerprints of a durable competitive advantage. A Quality score above 70 typically indicates a company with the financial characteristics of a moated business.

Is Shenzhen Newway Photomask Making Co., Ltd a buy, hold, or sell?

MoatMap's current signal for Shenzhen Newway Photomask Making Co., Ltd (688401.SS) is Hold, based on a StockRank of 62/100. Signals are derived mechanically from the StockRank composite and should be one input among many — combine with your own thesis on management, competitive position, and valuation.

What sector is Shenzhen Newway Photomask Making Co., Ltd in?

Shenzhen Newway Photomask Making Co., Ltd (688401.SS) operates in the Technology sector, specifically the Semiconductor Equipment & Materials industry (China).

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688401.SS

HOLDFLAG

Shenzhen Newway Photomask Making Co., Ltd · Technology · China · $2.3B · Avg Vol: $134M/d

StockRank

P/E (TTM)

58.4x

ROE

17.1%

D/E

0.6x

Dividend %

0.5%

Director Trades · 180d

None in 180d →

Buybacks · 180d

None in 180d →

AI CONVICTION THESIS

Shenzhen Newway Photomask is a key beneficiary of China's aggressive semiconductor localization drive, providing critical photomask products that are essential for domestic chip fabrication. As geopolitical tensions accelerate the decoupling of the global semiconductor supply chain, domestic foundries are forced to source photomasks from local suppliers. While the structural tailwind is powerful, the business is highly capital-intensive and faces technological hurdles in scaling to advanced nodes, making it a name to monitor closely rather than a high-conviction core holding.

COMPANY DESCRIPTION

Shenzhen Newway Photomask Making Co., Ltd. manufactures photomasks used in flat panel displays (FPD) and semiconductor IC packaging. The company is one of the few domestic Chinese suppliers capable of producing high-generation (G11) FPD photomasks, reducing reliance on foreign imports. It operates as a niche market leader in China's display photomask industry with strong R&D capabilities in sub-micron lithography.

FINANCIAL SUMMARY (USD)

Year	2022	2023	2024	2025	CAGR
Revenue	94.6M	99.4M	129.4M	170.7M	21.8%
EPS	0.11	0.11	0.15	0.19	21.0%
Shares	193.3M	193.3M	193.3M	193.3M	+0.0%
Debt	46.4M	65.0M	85.1M	150.0M	47.9%
Equity	198.5M	216.0M	205.7M	245.6M	7.3%
Op CF	44.1M	24.6M	39.4M	52.3M	5.8%
Inv CF	-53.8M	-69.4M	-31.8M	-88.6M	—
Fin CF	79.0M	10.8M	-28.0M	64.6M	—

PRICE (1Y)+28.6%

SMA 50SMA 200

$13.24

RSI (14)

67.7

52W High

$13.45

From 52W High

1.0%

SCORE BREAKDOWN

Quality

ROIC

12.2%70.3

ROE

17.1%78.9

GP/Assets

13.7%34.0

Op. Margin

24.3%87.8

FCF/Assets

-3.9%25.6

Piotroski

537.3

Int. Cover

13.7x52.4

D/E Ratio

0.60x24.8

Current Ratio

2.60x65.5

Value

P/E (TTM)

58.4x33.3

EV/EBITDA

35.3x31.1

P/FCF

—N/A

P/B

9.0x16.5

P/S

12.7x16.3

Div Yield

0.5%27.9

Momentum

52W High %

98%97.7

RS 6M

61%81.5

SMA 50/200

1.29x75.2

EPS Rev 4W

—N/A

EPS Rev 12W

—N/A

EPS Improve

—N/A

Q Growth

39%62.7

FUNDAMENTALS

Market Cap

$2.3B

P/E (Forward)

—

Gross Margin

34.8%

SECTOR PEERS

Closest peers in Technology, ranked by industry match, size, and score similarity. Cross-listings of 688401.SS are excluded.

Ticker	Company	Mkt Cap	StockRank	Signal
688401.SS	Shenzhen Newway Photomask Making Co., Ltd(you)	$2.3B	62	HOLD
601133.SS	Both Engineering Technology Co.,Ltd.	$2.3B	53	HOLD
603078.SS	Jiangyin Jianghua Microelectronics Materials Co., Ltd	$2.6B	48	HOLD
688233.SS	Thinkon Semiconductor Jinzhou Corp.	$3.2B	73	BUY
300623.SZ	Jiangsu JieJie Microelectronics Co., Ltd.	$4.7B	58	HOLD
300236.SZ	Shanghai Sinyang Semiconductor Materials Co., Ltd.	$5.1B	57	HOLD
605111.SS	Wuxi NCE Power Co.,Ltd.	$4.6B	69	BUY
603061.SS	JHT Design Co.,Ltd.	$4.4B	71	BUY
600667.SS	Wuxi Taiji Industry Limited Corporation	$7.0B	61	HOLD
603806.SS	Hangzhou First Applied Material Co., Ltd.	$6.7B	64	HOLD

Peer medians: ROE 3.9% · P/E 77.4x · Gross margin 25.9%

Shenzhen Newway Photomask Making Co., Ltd (688401.SS) — Stock Score Summary

Shenzhen Newway Photomask Making Co., Ltd (688401.SS) has a MoatMap StockRank of 62/100 based on Quality (54/100), Value (26/100), and Momentum (72/100) factor scores. The current signal is HOLD. Shenzhen Newway Photomask is a key beneficiary of China's aggressive semiconductor localization drive, providing critical photomask products that are essential for domestic chip fabrication. As geopolitical tensions accelerate the decoupling of the global semiconductor supply chain, domestic foundries are forced to source photomasks from local suppliers. While the structural tailwind is powerful, the business is highly capital-intensive and faces technological hurdles in scaling to advanced nodes, making it a name to monitor closely rather than a high-conviction core holding.

Key Financial Metrics

Price	$13.24
Market Cap	$2.3B
P/E (TTM)	58.42
Price/Book	9.02
Return on Equity	17.1%
Return on Invested Capital	12.2%
Debt/Equity	60.44
Gross Margin	34.8%
Operating Margin	24.3%
Revenue Growth	25.6%
Dividend Yield	0.5%
Free Cash Flow	$-3M

Shenzhen Newway Photomask Making Co., Ltd operates in the Semiconductor Equipment & Materials industry, part of the Technology sector (China).

Frequently Asked Questions

What is Shenzhen Newway Photomask Making Co., Ltd’s (688401.SS) StockRank?: MoatMap’s StockRank for Shenzhen Newway Photomask Making Co., Ltd (688401.SS) is 62/100, with a Hold signal. It is a composite of Quality (54), Value (26), and Momentum (72) factor ranks across MoatMap’s 20,000+ stock universe.
Does Shenzhen Newway Photomask Making Co., Ltd have an economic moat?: Shenzhen Newway Photomask Making Co., Ltd (688401.SS) has a Quality factor score of 54/100. The Quality factor combines ROIC, Piotroski F-Score, and leverage — the financial fingerprints of a durable competitive advantage. A Quality score above 70 typically indicates a company with the characteristics of a moated business.
Is Shenzhen Newway Photomask Making Co., Ltd a buy, hold, or sell?: MoatMap’s current signal for Shenzhen Newway Photomask Making Co., Ltd (688401.SS) is Hold, based on a StockRank of 62/100. Signals are derived mechanically from the StockRank composite and should be one input among many — combine with your own thesis on management, competitive position, and valuation.
What sector is Shenzhen Newway Photomask Making Co., Ltd in?: Shenzhen Newway Photomask Making Co., Ltd (688401.SS) operates in the Technology sector, specifically the Semiconductor Equipment & Materials industry (China).