1. People's Republic of China Stocks

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    Healthcare

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    Medical - Instruments & Supplies
iRay Technology Company Limited

iRay Technology Company Limited

688301.SS
iRay Technology Company LimitedCN flagShanghai Stock Exchange
184.30
CNY
+3.40
- -
38.97BMarket Cap
iRay Technology Company Limited
688301.SS
(Shanghai Stock Exchange)

Recent

price

184.30

P/E

ratio

- -

div

yld

- -

ROIC.AI

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
- -
- -
2.46
2.93
3.65
4.85
5.96
7.78
9.34
9.17
11.08
9.29
Revenue per Share
- -
- -
0.38
0.4
0.65
1.37
2.43
3.22
3.04
2.33
3.2
2.44
Basic EPS, GAAP
- -
- -
0.45
-0.19
-0.06
1.52
0.28
-2.01
-7.58
-5.41
-1.89
-5.43
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
0.02
0.37
0.81
1.1
1.29
1.06
0.98
Dividend per Share
- -
- -
0.58
0.94
1.53
2.8
4.32
6.73
8.78
10.19
12.68
11.33
Book Value per Share
- -
- -
1.67
2.15
2.78
16.22
15.21
18.32
20.53
21.73
30.93
22.43
Tangible Book Value per Share
- -
- -
145
150
149
162
199
199
200
200
203
202
Basic Weighted Avg Shares
213
256
356
439
546
784
1,187
1,549
1,864
1,831
2,251
1,872
Sales/Revenue/Turnover
8.03
18.11
18.64
13.82
18.92
31.45
36.25
36.07
38.59
28.67
29.79
26.55
Operating Margin (%)
- -
- -
5
12
16
24
32
50
56
73
148
- -
Depreciation Expense
19
43
54
61
96
222
484
641
607
465
650
492
Net Income, GAAP
20.3
13.35
15.92
12
7.43
12.27
13.46
9.88
11.71
11.21
7.8
12.27
Effective Tax Rate (%)
8.89
16.72
15.28
13.79
17.65
28.34
40.77
41.4
32.59
25.4
28.88
26.3
Profit Margin (%)
116
144
178
219
280
2,487
2,670
4,005
2,351
3,054
3,375
2,939
Working Capital
- -
- -
- -
- -
- -
12
8
1,302
1,718
3,407
3,802
3,462
LT Debt
135
178
251
331
426
2,634
3,077
3,904
4,353
4,646
6,668
4,849
Total Equity
- -
24.21
25.24
18.26
23.68
13.54
12.68
11.8
10.7
6.33
6.43
5.49
Return on Invested Capital (%)
- -
41.61
52
52.82
45.98
54.09
64.95
34.73
18.9
10.63
10.69
9.94
Return on Capital (%)
- -
41.61
52.75
54.04
52.2
65.16
73.77
58.29
39.27
24.57
28.2
23.55
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
158
128
55
LT Borrowings
3,295
3,323
3,354
LT Finance Leases
112
120
109
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
200
200
200
Market Capitalization
13,583
16,470
17,659

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
3,954
3,855
4,221
Cash, Cash Equivalents & STI
2,213
2,084
2,310
Accounts Receivable, Net
749
769
835
Inventories
798
795
809
Total Current Liabilities
900
791
1,281
Payables & Accruals
- -
- -
- -
ST Debt
158
128
55
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
75.77%
21.09%
43.51%
Free Cash Flow
-403.78%
-140.8%
-64.43%
Net Income, GAAP
51.54%
32.26%
39.73%
Sales/Revenue/Turnover
27.39%
24.67%
22.9%
Total Cash Common Dividend
- -
512.71%
-16.4%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
491
535
330
475
1,831
2025
482
585
702
- -
2,251
2026
686
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.7
- -
- -
- -
2.33
2025
0.71
- -
- -
- -
3.2
2026
0.84
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.07
- -
- -
- -
1.29
2025
0.09
- -
- -
- -
1.06
2026
0.09
- -
- -
- -
- -
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Business
iRay Group (688301.SS) develops, manufactures and sells flat panel X-ray detectors and related components for medical, dental, veterinary, security and industrial imaging applications in China and internationally. The company offers wireless radiography detectors including a-Si cassette and flexible cassette models; tethered radiography detectors; mammography detectors; dynamic/real-time detectors; linear detector arrays; X-ray sources; high voltage generators; X-ray tubes; radiation detecting materials; and related software solutions. iRay Group operates production facilities in Taicang, Haining, Hefei and Chengdu in China, as well as in Seoul, Korea and Cleveland, USA, with products deployed in over 80 countries and an installed base exceeding 300,000 units; its technology portfolio encompasses amorphous silicon (a-Si), oxide TFT, flexible substrates and CMOS devices. Founded in 2011 and headquartered in Shanghai, China, the company, formerly iRay Technology Company Limited, changed its name to iRay Group in February 2025. Recent developments include the completion of its Hefei production base and U.S. factory operations to support a global layout of one headquarters plus six bases; a CNY 600 million equity investment in subsidiary IRay Imaging Technology (Hefei) Co., Ltd. in May 2025 with iRay Group retaining majority stake; issuance of 11,048,980 shares raising CNY 1.17 billion in September 2025 from investors including Guangdong Hengkuo and Hubei Hongtai; and active expansion into new core components such as high-voltage generators, X-ray tubes and integrated radiation sources, with products entering batch delivery to major customers.