N 
13.82
+0.07%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥9.27bn
FY2016FY2025
Net income
CN¥41.7m
FY2016FY2025
Free cash flow
−CN¥384.3m
FY2016FY2025
Shareholders' equity
CN¥10.34bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥9.27bn | CN¥4.57bn | CN¥6.12bn | CN¥6.71bn | CN¥7.51bn | CN¥6.46bn | CN¥5.32bn | CN¥4.95bn | CN¥4.78bn | CN¥3.78bn |
| Gross profit | CN¥1.33bn | CN¥526.3m | CN¥1.89bn | CN¥1.81bn | CN¥1.43bn | CN¥1.02bn | CN¥949.3m | CN¥1.04bn | CN¥828.0m | CN¥732.7m |
| Research and development | CN¥483.2m | CN¥417.6m | CN¥478.1m | CN¥388.5m | CN¥344.5m | CN¥311.4m | CN¥292.5m | CN¥246.5m | CN¥216.9m | CN¥164.0m |
| Operating income | CN¥219.7m | −CN¥375.4m | CN¥879.4m | CN¥949.0m | CN¥628.2m | CN¥415.0m | CN¥330.1m | CN¥418.4m | CN¥171.4m | CN¥150.3m |
| Net income | CN¥41.7m | −CN¥327.3m | CN¥828.3m | CN¥819.5m | CN¥485.3m | CN¥274.6m | CN¥255.2m | CN¥347.2m | CN¥126.0m | CN¥137.7m |
| Diluted earnings per share | 0.03 | -0.24 | 0.59 | 0.59 | 0.35 | 0.20 | 0.18 | 0.25 | 0.09 | 0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥19.19bn | CN¥16.07bn | CN¥15.62bn | CN¥14.99bn | CN¥14.03bn | CN¥12.19bn | CN¥11.01bn | CN¥10.42bn | CN¥9.73bn | CN¥10.26bn |
| Cash and short-term investments | — | CN¥6.34bn | CN¥6.50bn | CN¥6.71bn | CN¥6.63bn | CN¥5.46bn | CN¥4.10bn | CN¥3.59bn | CN¥2.33bn | CN¥2.75bn |
| Total liabilities | CN¥8.73bn | CN¥5.73bn | CN¥5.09bn | CN¥5.24bn | CN¥5.02bn | CN¥3.67bn | CN¥2.82bn | CN¥2.56bn | CN¥2.20bn | CN¥2.90bn |
| Debt | CN¥267.7m | CN¥424.6m | CN¥341.5m | CN¥181.1m | CN¥43.2m | CN¥43.3m | CN¥116.6m | CN¥176.0m | CN¥224.0m | CN¥633.0m |
| Shareholders' equity | CN¥10.34bn | CN¥10.25bn | CN¥10.53bn | CN¥9.75bn | CN¥9.01bn | CN¥8.52bn | CN¥8.19bn | CN¥7.86bn | CN¥7.53bn | CN¥7.36bn |
| Shares outstanding | 1,393m | 1,392m | 1,393m | 1,393m | 1,393m | 1,392m | 1,392m | 1,403m | 1,406m | 1,034m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥483.0m | CN¥273.2m | CN¥234.8m | CN¥382.4m | CN¥1.57bn | CN¥1.80bn | CN¥912.1m | CN¥1.50bn | CN¥537.0m | CN¥157.2m |
| Capital spending | −CN¥867.3m | −CN¥570.2m | −CN¥592.1m | −CN¥446.8m | −CN¥498.1m | −CN¥340.0m | −CN¥347.5m | −CN¥361.6m | −CN¥215.8m | −CN¥280.0m |
| Free cash flow | −CN¥384.3m | −CN¥297.0m | −CN¥357.3m | −CN¥64.4m | CN¥1.08bn | CN¥1.46bn | CN¥564.5m | CN¥1.14bn | CN¥321.2m | −CN¥122.8m |
| Dividends paid | −CN¥10.0m | −CN¥90.9m | −CN¥87.9m | −CN¥72.0m | −CN¥1.4m | −CN¥66.4m | −CN¥62.3m | −CN¥7.1m | −CN¥19.2m | −CN¥33.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.29bn | CN¥1.74bn | CN¥5.85bn | CN¥1.23bn | CN¥1.57bn | CN¥619.6m | CN¥1.85bn | CN¥850.1m |
| Gross profit | CN¥261.1m | CN¥298.8m | CN¥704.3m | CN¥228.3m | CN¥298.7m | CN¥89.4m | −CN¥86.7m | CN¥160.0m |
| Operating income | −CN¥417,693 | CN¥55.6m | CN¥267.5m | −CN¥55.0m | CN¥112.3m | −CN¥132.2m | −CN¥343.8m | −CN¥112.6m |
| Net income | −CN¥17.4m | CN¥54.6m | CN¥100.5m | −CN¥18.1m | CN¥88.2m | −CN¥129.0m | −CN¥267.1m | −CN¥104.8m |
| Diluted earnings per share | -0.01 | 0.04 | 0.07 | -0.01 | 0.06 | -0.09 | -0.19 | -0.08 |
| Cash from operations | — | — | — | CN¥407.0m | −CN¥1.19bn | CN¥1.0m | CN¥1.46bn | −CN¥172.0m |
| Capital spending | −CN¥195.0m | −CN¥143.0m | −CN¥349.0m | −CN¥156.0m | −CN¥106.0m | −CN¥254.0m | −CN¥228.0m | −CN¥111.0m |
| Free cash flow | — | — | — | CN¥251.0m | −CN¥1.30bn | −CN¥253.0m | CN¥1.23bn | −CN¥283.0m |
| Total assets | CN¥18.54bn | CN¥18.04bn | CN¥19.19bn | CN¥17.38bn | CN¥15.64bn | CN¥16.14bn | CN¥16.07bn | CN¥15.55bn |
| Cash and short-term investments | — | — | — | CN¥5.23bn | CN¥5.25bn | CN¥6.22bn | CN¥6.34bn | CN¥5.50bn |
| Debt | CN¥326.0m | CN¥344.8m | CN¥267.7m | CN¥1.33bn | CN¥873.9m | CN¥565.9m | CN¥417.1m | CN¥880.0m |
| Shareholders' equity | CN¥10.38bn | CN¥10.41bn | CN¥10.34bn | CN¥10.22bn | CN¥10.23bn | CN¥10.12bn | CN¥10.25bn | CN¥10.33bn |
Financial ratios
Data as of 23 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 14.3% | 11.5% | 31.0% | 27.0% | 19.0% | 15.7% |
| Operating margin | 2.4% | -8.2% | 14.4% | 14.1% | 8.4% | 6.4% |
| Net margin | 0.4% | -7.2% | 13.5% | 12.2% | 6.5% | 4.2% |
| Return on equity | 0.4% | -3.2% | 7.9% | 8.4% | 5.4% | 3.2% |
| Return on assets | 0.2% | -2.0% | 5.3% | 5.5% | 3.5% | 2.3% |
| Free cash flow yield | 6.5% | 4.0% | 4.0% | 4.0% | 9.9% | 10.3% |
| Revenue growth | 103.0% | -25.3% | -8.9% | -10.6% | 16.3% | 21.4% |
| Earnings growth | -112.7% | -139.5% | 1.1% | 68.9% | 76.8% | 7.6% |
| Current ratio | 1.67x | 2.13x | 2.46x | 2.21x | 2.14x | 2.49x |
| Debt to equity | 0.03x | 0.04x | 0.03x | 0.02x | 0.00x | 0.00x |
| Equity ratio | 53.9% | 63.7% | 67.4% | 65.1% | 64.2% | 69.9% |
| Interest coverage | 145.30x | -23.18x | 66.13x | 189.90x | 54.26x | 453.75x |
| R&D as a share of sales | 5.2% | 9.1% | 7.8% | 5.8% | 4.6% | 4.8% |
| Buybacks as a share of market value | -0.0% | 0.0% | -0.0% | 0.0% | -0.0% | -0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.4% | 7.5% | 8.9% |
| Operating income | -38.6% | -11.9% | -6.8% |
| Net income | -62.9% | -31.4% | -20.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 13.4% | 20.9% | 19.7% | 19.7% |
| Operating margin | -1.1% | 6.3% | 6.7% | 6.7% |
| Net margin | -2.1% | 5.1% | 5.2% | 5.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | — | -61.5 | 23.6 | 33.4 | 76.5 | 50.8 | 41.6 | 25.4 | 109.9 | 112.0 |
| Price to sales | 2.7 | 4.4 | 3.2 | 4.1 | 4.9 | 2.2 | 2.0 | 1.8 | 2.9 | 4.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 25 Jun 2026.
| FY2026 | FY2024 | FY2023 | FY2022 | FY2020 | FY2018 | FY2015 | FY2003 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.025 | 0.055 | 0.055 | 0.05 | 0.045 | 0.041 | 0.043 | 0.051 |
- 7-for-5 split · 2 Jul 2015
- 7-for-5 split · 7 Jul 2006
- 1-to-1 reverse split · 24 Mar 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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