Company at a glance
Scale
Revenue up 14% since FY2023
Growth prospects
Expanding customer base and product roadmap
via wap.eastmoney.com ↗Revenue RMB 829 million (-23.73%); net loss attributable RMB 99.25 million on weak consumer storage demandvia caifuhao.eastmoney.com ↗Revenue RMB 1.24 billion (+49.46%) with a return to profit; adjusted (non-recurring) net profit RMB 25.71 million (+130.93%)China competition
Competes with CXMT, YMTC, JHICC in Memory — peers listed at sector level.
BottleneckGlobal comparables
Global reference set: SK hynix, Samsung, Micron.
KingstonTechnical gap
Sector rated bottleneck vs the frontier.
Obstacles
Sector bottleneck applies
HBM, advanced DRAM nodes, tool restrictions, yield, packaging integration, and export controls.Official filings: Eastmoney: FY2024 annual report results ↗
All sourced facts (9)
- Listing status: Shenzhen Stock Exchange · 300042 · A-share
- Founded / HQ: 1999, Shenzhen, by Deng Guoshun and Cheng Xiaohua, inventors of the USB flash drive; basic patent ZL99117225.6 filed November 14, 1999 via money.finance.sina.com.cn ↗
- Listing: Shenzhen Stock Exchange ChiNext (300042), January 8, 2010; CSRC approval December 2009 via money.finance.sina.com.cn ↗
- Patent expiry: Core USB flash drive patent expired in November 2019 after generating roughly RMB 200 million in licensing income over about a decade via m.21jingji.com ↗
- Ownership: April 2022: Shaoguan Urban Investment Development Group acquired 49.875 million shares (24.89%) via online judicial auction, becoming controlling shareholder; actual controller is the Shaoguan municipal SASAC via wap.eastmoney.com ↗
- FY2024 results: Revenue RMB 829 million (-23.73%); net loss attributable RMB 99.25 million on weak consumer storage demand via wap.eastmoney.com ↗
- FY2025 results: Revenue RMB 1.24 billion (+49.46%) with a return to profit; adjusted (non-recurring) net profit RMB 25.71 million (+130.93%) via caifuhao.eastmoney.com ↗
- H1 2026 results: Revenue RMB 966 million (+101.76%); net profit attributable RMB 95.08 million (turnaround, +632.43%) via wap.eastmoney.com ↗
- IP and reach: More than 300 patents and applications; products span SSD, DDR memory, embedded and mobile storage, sold in over 60 countries via netac.com.cn ↗
About
Two legacy legs - storage product sales (low-margin module business across SSD/DDR/embedded/mobile lines, sold in 60+ countries) and patent licensing - now supplemented by a data/computing services tilt aligned with Shaoguan's 'East-Data-West-Computing' data center cluster. Patent licensing has shrunk to a small revenue stream (RMB 2.61 million in H1 2025) after core patent expiry, leaving product sales, at gross margins around 6.34% in the low-end mix, as the dominant earner.
Founded 1999 · Ticker 300042
Why it matters
Netac is the original USB-flash-drive inventor turned small-cap storage brand, and a textbook study in post-patent-expiry transition: licensing income has nearly vanished, product margins are thin, and scale (RMB 1.24 billion FY2025 revenue) trails the leading Chinese module makers by more than eight times, even as the 2025-2026 memory upcycle restored profitability.
Where it sits in the stack
Key semiconductor products
- Solid-state drives·SSD
- Memory modules·DDR
- Embedded storage
- Mobile storage·USB flash drives, memory cards
- Patent licensing·USB flash drive and related portfolio
Financials
300042.SZ · Shenzhen ChiNext 300042.SZ · via Yahoo Finance ↗
Financial trajectory via annual filings via Yahoo Finance
RMB billionsMarket data refreshed daily; annual figures from exchange filings. Figures in the reporting currency shown on the chart.
Ecosystem
Global peer set
- Kingston
- Phison (群联电子)
- Longsys (江波龙)
- Techwinsemi (德明利)
Competitive position
- Pioneer brand in USB storage with residual brand recognition, but a follower in scale: FY2025 revenue of RMB 1.24 billion versus 100-billion-yuan-class leading module makers
- Over 70% of revenue comes from low-end flash application products with gross margin around 6.34%, per FY2025 analysis
- State-owned (Shaoguan) control since 2022 ties growth initiatives to the Shaoguan data-center cluster and computing services
- If Netac is a downstream brand, its bottleneck is external NAND and DRAM supply dependency; if it holds proprietary IP, the bottleneck is IP adoption and licensing.
- Global comparables: Kingston
- Global comparables: Phison (群联电子)
- Global comparables: Longsys (江波龙)
- Global comparables: Techwinsemi (德明利)
Milestones and signals
- 1999—Netac Technology (朗科科技) was founded.
- 2026-10-04—Market cap: RMB 7.1B
- FY2025—Revenue: RMB 1.2B
- FY2025—Net Profit: RMB 27.1M
- Listing—Shenzhen Stock Exchange · 300042 · A-share
What to watch
- Margin durability of the low-end product mix once the 2026 memory price surge normalizes
- Growth of data/computing services tied to Shaoguan's East-Data-West-Computing cluster
- Whether patent licensing stabilizes after the post-2019 decline
Questions
Last reviewed 2026-07-11Answered questions
What is the measurable gap versus global reference companies?
Pioneer brand in USB storage with residual brand recognition, but a follower in scale: FY2025 revenue of RMB 1.24 billion versus 100-billion-yuan-class leading module makers.
Open questions
- Which products are qualified beyond pilots in memory?
- Which customers, fabs, or end markets show real adoption rather than policy interest?