China Resources Microelectronics (SHSE:688396) Scaled Net Operating Assets: 0.51 (As of Mar. 2026)


SHSE:688396 China Resources Microelectronics Ltd SHSE:688396
81 GF Score
Price ¥85.00
GF Value ¥56.18
Valuation Significantly Overvalued
! 10 Warning Signs
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What is China Resources Microelectronics Scaled Net Operating Assets?

China Resources Microelectronics SHSE:688396 -2.63% 81 Scaled Net Operating Assets is 0.51 as of Mar. 2026. GuruFocus rates SHSE:688396 with a GF Score™ of 81/100 and a GF Value™ of ¥56.18 (Significantly Overvalued). The stock has 10 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

China Resources Microelectronics's operating assets for the quarter that ended in Mar. 2026 was ¥20,851 Mil. China Resources Microelectronics's operating liabilities for the quarter that ended in Mar. 2026 was ¥5,359 Mil. China Resources Microelectronics's Total Assets for the quarter that ended in Dec. 2025 was ¥30,590 Mil. Therefore, China Resources Microelectronics's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.51.


China Resources Microelectronics Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for China Resources Microelectronics's Scaled Net Operating Assets 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.

China Resources Microelectronics Scaled Net Operating Assets Chart

China Resources Microelectronics Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.42 0.41 0.49 0.54 0.53

China Resources Microelectronics Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.54 0.54 0.53 0.51 0.51

SHSE:688396 vs NVDA, AVGO, MU: Scaled Net Operating Assets Comparison

For the Semiconductors subindustry, China Resources Microelectronics's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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.


China Resources Microelectronics Scaled Net Operating Assets vs Semiconductors Industry

For the Semiconductors industry and Technology sector, China Resources Microelectronics's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where China Resources Microelectronics's Scaled Net Operating Assets falls into.


SHSE:688396
81GF Score
China Resources Microelectronics Ltd SHSE:688396
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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China Resources Microelectronics Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

China Resources Microelectronics's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(20962.794-5546.972)/29106.83
=0.53

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=30589.736 - 9626.942
=20962.794

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=5722.721 - 77.989 - 97.76
=5546.972

China Resources Microelectronics's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(20850.548-5358.537)/30589.736
=0.51

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=30703.338 - 9852.79
=20850.548

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=5486.641 - 74.858 - 53.246
=5358.537

* 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.

What does a Scaled Net Operating Assets of 0.51 mean?
China Resources Microelectronics (SHSE:688396) has a Scaled Net Operating Assets of 0.51 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on China Resources Microelectronics and its competitors.
Is China Resources Microelectronics' Scaled Net Operating Assets too high?
China Resources Microelectronics' current Scaled Net Operating Assets is 0.51. Overall, China Resources Microelectronics has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does China Resources Microelectronics' Scaled Net Operating Assets compare to NVDA and AVGO?
China Resources Microelectronics' Scaled Net Operating Assets of 0.51 can be compared against companies in the Semiconductors industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Semiconductors company?
A good Scaled Net Operating Assets depends on the Semiconductors industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on China Resources Microelectronics and its competitors. China Resources Microelectronics's current Scaled Net Operating Assets is 0.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Resources Microelectronics stock overvalued right now?
Based on GuruFocus' analysis, China Resources Microelectronics (SHSE:688396) is currently considered Significantly Overvalued. The stock's GF Value™ is ¥56.18, compared to a current price of ¥85.00 — trading 51.3% above its estimated fair value. The current Scaled Net Operating Assets is 0.51. China Resources Microelectronics' overall GF Score™ is 81/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For China Resources Microelectronics (SHSE:688396), the current Scaled Net Operating Assets is 0.51 as of Mar. 2026. 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.

Is China Resources Microelectronics (SHSE:688396) Overvalued in 2026?

Based on GuruFocus' analysis, China Resources Microelectronics stock appears to be overvalued. The current stock price of ¥85.00 is trading 51.3% above its estimated GF Value™ of ¥56.18. GuruFocus considers China Resources Microelectronics to be Significantly Overvalued.

Key valuation signals for SHSE:688396:

  • Scaled Net Operating Assets: 0.51
  • GF Value™: ¥56.18 vs. price of ¥85.00 (51.3% above fair value)
  • GF Score™: 81/100 with 10 warning signs

No single metric tells the full story. See the SHSE:688396 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


China Resources Microelectronics Business Description

Address No. 14, Liangxi Road, No. 12, Lane 299, Wenshui Road, Jiangsu Province, Wuxi City, Zhihuiyuan, Shibei District, Jing'an District, Shanghai, CHN, 214061
China Resources Microelectronics Ltd is engaged in designing, producing, and selling power semiconductors, smart sensors and smart control products, as well as providing open wafer manufacturing, packaging and testing, and other manufacturing services.
81GF Score

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

¥85.00
Price
¥56.18
GF Value