T 
5.54
-1.07%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥36.19bn
FY2016FY2025
Net income
CN¥167.4m
FY2016FY2025
Free cash flow
CN¥4.73bn
FY2016FY2025
Shareholders' equity
CN¥27.25bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥36.19bn | CN¥33.49bn | CN¥32.27bn | CN¥31.45bn | CN¥33.77bn | CN¥29.23bn | CN¥30.28bn | CN¥28.91bn | CN¥23.82bn | CN¥10.74bn |
| Gross profit | CN¥4.69bn | CN¥4.04bn | CN¥1.69bn | CN¥3.55bn | CN¥3.67bn | CN¥5.25bn | CN¥4.77bn | CN¥4.25bn | CN¥4.65bn | CN¥2.07bn |
| Research and development | CN¥2.30bn | CN¥3.25bn | CN¥3.06bn | CN¥2.73bn | CN¥2.00bn | CN¥2.02bn | CN¥1.86bn | CN¥1.80bn | CN¥1.67bn | CN¥1.08bn |
| Operating income | CN¥771.4m | −CN¥496.7m | −CN¥2.53bn | CN¥894.0m | −CN¥192.9m | CN¥2.36bn | CN¥1.69bn | CN¥983.5m | CN¥1.76bn | CN¥383.5m |
| Net income | CN¥167.4m | −CN¥668.6m | −CN¥2.10bn | CN¥111.7m | −CN¥34.4m | CN¥1.47bn | CN¥829.4m | CN¥925.5m | CN¥1.09bn | CN¥569.2m |
| Diluted earnings per share | 0.07 | -0.27 | -0.85 | 0.05 | -0.01 | 0.68 | 0.40 | 0.45 | 0.78 | 0.41 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥76.79bn | CN¥81.24bn | CN¥81.98bn | CN¥80.99bn | CN¥75.68bn | CN¥73.63bn | CN¥65.45bn | CN¥60.04bn | CN¥54.75bn | CN¥21.68bn |
| Cash and short-term investments | CN¥4.80bn | CN¥6.23bn | CN¥8.29bn | CN¥9.06bn | CN¥4.04bn | CN¥4.55bn | CN¥3.22bn | CN¥3.69bn | CN¥5.52bn | CN¥4.46bn |
| Total liabilities | CN¥47.30bn | CN¥52.06bn | CN¥52.98bn | CN¥50.73bn | CN¥45.56bn | CN¥40.06bn | CN¥38.74bn | CN¥34.03bn | CN¥30.27bn | CN¥7.92bn |
| Debt | CN¥17.31bn | CN¥25.14bn | CN¥31.13bn | CN¥27.44bn | CN¥23.84bn | CN¥21.96bn | CN¥21.21bn | CN¥16.06bn | CN¥15.25bn | CN¥1.29bn |
| Shareholders' equity | CN¥27.25bn | CN¥27.25bn | CN¥27.96bn | CN¥30.06bn | CN¥30.12bn | CN¥33.57bn | CN¥26.71bn | CN¥26.00bn | CN¥17.97bn | CN¥13.76bn |
| Shares outstanding | 2,439m | 2,458m | 2,458m | 2,466m | 2,458m | 2,184m | 2,048m | 2,048m | 1,401m | 1,402m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥6.99bn | CN¥5.75bn | CN¥3.98bn | CN¥3.91bn | CN¥3.29bn | CN¥6.68bn | CN¥4.76bn | CN¥3.57bn | CN¥3.33bn | CN¥980.6m |
| Capital spending | −CN¥2.25bn | −CN¥3.01bn | −CN¥4.40bn | −CN¥2.81bn | −CN¥6.10bn | −CN¥9.88bn | −CN¥9.30bn | −CN¥5.71bn | −CN¥7.35bn | −CN¥3.03bn |
| Free cash flow | CN¥4.73bn | CN¥2.74bn | −CN¥426.3m | CN¥1.11bn | −CN¥2.81bn | −CN¥3.21bn | −CN¥4.54bn | −CN¥2.14bn | −CN¥4.02bn | −CN¥2.05bn |
| Dividends paid | −CN¥873.6m | −CN¥1.05bn | −CN¥1.14bn | −CN¥1.30bn | −CN¥1.26bn | −CN¥1.28bn | −CN¥143.4m | −CN¥981.3m | −CN¥630.0m | −CN¥127.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥8.96bn | CN¥7.73bn | CN¥9.56bn | CN¥9.19bn | CN¥9.16bn | CN¥8.31bn | CN¥9.48bn | CN¥8.12bn |
| Gross profit | CN¥1.23bn | CN¥1.37bn | CN¥1.18bn | CN¥1.56bn | CN¥1.27bn | CN¥1.35bn | CN¥830.7m | CN¥1.61bn |
| Operating income | CN¥181.8m | CN¥267.2m | CN¥93.2m | CN¥238.8m | CN¥329.2m | CN¥79.7m | −CN¥1.26bn | CN¥186.2m |
| Net income | −CN¥588.7m | −CN¥139.2m | −CN¥145.7m | CN¥107.2m | CN¥109.5m | CN¥96.4m | −CN¥196.0m | CN¥16.8m |
| Diluted earnings per share | -0.24 | -0.06 | -0.06 | 0.04 | 0.04 | 0.04 | -0.08 | 0.01 |
| Cash from operations | — | — | CN¥525.0m | CN¥2.49bn | CN¥1.75bn | CN¥2.22bn | CN¥1.25bn | CN¥1.82bn |
| Capital spending | −CN¥942.0m | −CN¥423.0m | −CN¥589.0m | −CN¥384.0m | −CN¥595.0m | −CN¥684.0m | −CN¥887.0m | −CN¥762.0m |
| Free cash flow | — | — | −CN¥64.0m | CN¥2.11bn | CN¥1.15bn | CN¥1.54bn | CN¥363.0m | CN¥1.06bn |
| Total assets | CN¥73.66bn | CN¥73.70bn | CN¥76.79bn | CN¥77.26bn | CN¥77.62bn | CN¥78.34bn | CN¥81.24bn | CN¥80.26bn |
| Cash and short-term investments | — | — | CN¥4.80bn | CN¥5.26bn | CN¥4.71bn | CN¥5.04bn | CN¥6.23bn | CN¥6.90bn |
| Debt | CN¥16.51bn | CN¥15.48bn | CN¥17.28bn | CN¥12.53bn | CN¥23.16bn | CN¥24.61bn | CN¥25.10bn | CN¥27.87bn |
| Shareholders' equity | CN¥26.42bn | CN¥27.06bn | CN¥27.25bn | CN¥27.50bn | CN¥27.51bn | CN¥27.38bn | CN¥27.25bn | CN¥27.47bn |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 12.9% | 12.1% | 5.2% | 11.3% | 10.9% | 18.0% |
| Operating margin | 2.1% | -1.5% | -7.8% | 2.8% | -0.6% | 8.1% |
| Net margin | 0.5% | -2.0% | -6.5% | 0.4% | -0.1% | 5.0% |
| Return on equity | 0.6% | -2.5% | -7.5% | 0.4% | -0.1% | 4.4% |
| Return on assets | 0.2% | -0.8% | -2.6% | 0.1% | -0.0% | 2.0% |
| Free cash flow yield | 59.6% | 56.1% | 53.6% | 42.9% | 60.1% | 119.2% |
| Revenue growth | 8.0% | 3.8% | 2.6% | -6.9% | 15.5% | -3.5% |
| Earnings growth | -125.0% | -68.1% | -1978.0% | -424.8% | -102.3% | 77.8% |
| Current ratio | 0.75x | 0.88x | 1.05x | 1.04x | 0.84x | 0.85x |
| Debt to equity | 0.63x | 1.26x | 1.35x | 0.91x | 0.79x | 0.65x |
| Equity ratio | 35.5% | 33.5% | 34.1% | 37.1% | 39.8% | 45.6% |
| Interest coverage | 0.99x | -0.48x | -2.39x | 0.99x | -0.26x | 3.05x |
| R&D as a share of sales | 6.4% | 9.7% | 9.5% | 8.7% | 5.9% | 6.9% |
| Buybacks as a share of market value | 0.8% | -0.0% | 0.3% | -0.3% | -12.5% | -6.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.8% | 4.4% | 13.1% |
| Operating income | -4.8% | -20.1% | 44.8% |
| Net income | 14.4% | -35.3% | -11.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.5% | 10.5% | 11.7% | 13.4% |
| Operating margin | 0.4% | -1.0% | 0.4% | 1.9% |
| Net margin | -0.7% | -1.9% | -0.5% | 1.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 131.6 | -33.2 | -12.5 | 191.2 | -930.5 | 21.8 | 40.2 | 21.7 | 25.3 | 46.4 |
| Price to sales | 0.6 | 0.7 | 0.8 | 0.7 | 0.9 | 1.1 | 1.1 | 0.7 | 1.2 | 2.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 May 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.07 | 0.07 | 0.08 | 0.07 | 0.07 | 0.06 | 0.06 | 0.10 |
- 3-for-2 split · 8 Oct 2008
- 5-for-4 split · 9 Jun 2006
- 1-to-1 reverse split · 26 Apr 2006
- 2-for-1 split · 28 May 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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