Shanghai Iluvatar CoreX Semiconductor Co (HKSE:09903) Operating Margin %: -55.52% (As of Dec. 2025)

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HKSE:09903 Shanghai Iluvatar CoreX Semiconductor Co Ltd HKSE:09903
9 GF Score
Price HK$404.80
! 2 Warning Signs
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What is Shanghai Iluvatar CoreX Semiconductor Co Operating Margin %?

Shanghai Iluvatar CoreX Semiconductor Co HKSE:09903 +10.54% 9 Operating Margin % is -55.52% as of Dec. 2025. GuruFocus rates HKSE:09903 with a GF Score™ of 9/100. The stock has 2 warning signs investors should review. Among 1,026 Semiconductors companies, Shanghai Iluvatar CoreX Semiconductor Co ranks worse than 95.32% on this metric.

Operating Margin % is calculated as Operating Income divided by its Revenue. Shanghai Iluvatar CoreX Semiconductor Co's Operating Income for the six months ended in Dec. 2025 was HK$-435 Mil. Shanghai Iluvatar CoreX Semiconductor Co's Revenue for the six months ended in Dec. 2025 was HK$784 Mil. Therefore, Shanghai Iluvatar CoreX Semiconductor Co's Operating Margin % for the quarter that ended in Dec. 2025 was -55.52%.

The historical rank and industry rank for Shanghai Iluvatar CoreX Semiconductor Co's Operating Margin % or its related term are showing as below:

HKSE:09903' s Operating Margin % Range Over the Past 10 Years
Min: -287.68   Med: -214.86   Max: -94.39
Current: -94.39


HKSE:09903's Operating Margin % is ranked worse than
95.32% of 1026 companies
in the Semiconductors industry
Industry Median: 6.495 vs HKSE:09903: -94.39

Shanghai Iluvatar CoreX Semiconductor Co's 5-Year Average Operating Margin % Growth Rate was 0.00% per year.

Shanghai Iluvatar CoreX Semiconductor Co's Operating Income for the six months ended in Dec. 2025 was HK$-435 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was HK$-1,074 Mil.

Warning Sign:

Shanghai Iluvatar CoreX Semiconductor Co Ltd has never been profitable in the past 3 years. It lost money every year.


Shanghai Iluvatar CoreX Semiconductor Co  (HKSE:09903) Operating Margin % Explanation

Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.


Be Aware

Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia’s Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Shanghai Iluvatar CoreX Semiconductor Co Operating Margin % Related Terms


Shanghai Iluvatar CoreX Semiconductor Co Operating Margin % Historical Data

* Premium members only.

The historical data trend for Shanghai Iluvatar CoreX Semiconductor Co's Operating Margin % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Shanghai Iluvatar CoreX Semiconductor Co Operating Margin % Chart

Shanghai Iluvatar CoreX Semiconductor Co Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Operating Margin %
-287.68 -272.48 -157.23 -94.67

Shanghai Iluvatar CoreX Semiconductor Co Semi-Annual Data
Dec22 Dec23 Jun24 Dec24 Jun25 Dec25
Operating Margin % Get a 7-Day Free Trial 0.00 -197.32 -134.09 -180.33 -55.52

HKSE:09903 vs NVDA, AVGO, MU: Operating Margin % Comparison

For the Semiconductors subindustry, Shanghai Iluvatar CoreX Semiconductor Co's Operating Margin %, along with its competitors' market caps and Operating Margin % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Shanghai Iluvatar CoreX Semiconductor Co Operating Margin % vs Semiconductors Industry

For the Semiconductors industry and Technology sector, Shanghai Iluvatar CoreX Semiconductor Co's Operating Margin % distribution charts can be found below:

* The bar in red indicates where Shanghai Iluvatar CoreX Semiconductor Co's Operating Margin % falls into.


HKSE:09903
9GF Score
Shanghai Iluvatar CoreX Semiconductor Co Ltd HKSE:09903
Operating Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
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Shanghai Iluvatar CoreX Semiconductor Co Operating Margin % Calculation

Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.

Shanghai Iluvatar CoreX Semiconductor Co's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as

Operating Margin %=Operating Income (A: Dec. 2025 ) / Revenue (A: Dec. 2025 )
=-1081.041 / 1141.851
=-94.67 %

Shanghai Iluvatar CoreX Semiconductor Co's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as

Operating Margin %=Operating Income (Q: Dec. 2025 ) / Revenue (Q: Dec. 2025 )
=-435.061 / 783.629
=-55.52 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Margin % →
What does a Operating Margin % of -55.52% mean?
Shanghai Iluvatar CoreX Semiconductor Co (HKSE:09903) has a Operating Margin % of -55.52% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on Shanghai Iluvatar CoreX Semiconductor Co and its competitors. According to the industry distribution chart, Shanghai Iluvatar CoreX Semiconductor Co ranks #978 out of 1026 companies in the Semiconductors industry, placing it in the top 95.3%.
Is Shanghai Iluvatar CoreX Semiconductor Co's Operating Margin % too high?
Shanghai Iluvatar CoreX Semiconductor Co's current Operating Margin % is -55.52%. Based on the distribution chart, Shanghai Iluvatar CoreX Semiconductor Co ranks #978 out of 1026 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, Shanghai Iluvatar CoreX Semiconductor Co has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Shanghai Iluvatar CoreX Semiconductor Co's Operating Margin % compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, Shanghai Iluvatar CoreX Semiconductor Co ranks #978 out of 1026 companies for Operating Margin %. This places Shanghai Iluvatar CoreX Semiconductor Co in the lower half of its industry. The industry median Operating Margin % is 6.50. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a Semiconductors company?
The median Operating Margin % among Semiconductors companies is 6.50, based on 1,026 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Shanghai Iluvatar CoreX Semiconductor Co and its competitors. For the Semiconductors industry, the median Operating Margin % is 6.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shanghai Iluvatar CoreX Semiconductor Co's current Operating Margin % is -55.52%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shanghai Iluvatar CoreX Semiconductor Co stock overvalued right now?
Shanghai Iluvatar CoreX Semiconductor Co (HKSE:09903) has a current Operating Margin % of -55.52%. The current Operating Margin % is -55.52%. Shanghai Iluvatar CoreX Semiconductor Co's overall GF Score™ is 9/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Shanghai Iluvatar CoreX Semiconductor Co (HKSE:09903), the current Operating Margin % is -55.52% as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Shanghai Iluvatar CoreX Semiconductor Co Business Description

Address No. 2168 Chenhang Road, Room 101, Building 3, Minhang District, Shanghai, CHN
Shanghai Iluvatar CoreX Semiconductor Co Ltd offers GPGPU products and AI computing solutions across diverse industries. Its product portfolio includes GPGPU chips and accelerators, as well as customized AI computing solutions, including GPGPU servers and clusters, that combine its hardware with proprietary software stack to address specific customer needs in training and inference scenarios. The company specializes in the research, design, and deployment of advanced GPGPU products and AI computing solutions across diverse industries. Geographically, it operates in Chinese Mainland; and Hong Kong, of which it derives maximum revenue from Chinese Mainland.
9GF Score

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Operating Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$404.80
Price