G 
4.56
-1.08%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.06bn
FY2016FY2025
Net income
CN¥122.9m
FY2016FY2025
Free cash flow
−CN¥530.7m
FY2016FY2025
Shareholders' equity
CN¥3.22bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.06bn | CN¥2.34bn | CN¥2.79bn | CN¥3.42bn | CN¥3.64bn | CN¥3.39bn | CN¥3.02bn | CN¥2.50bn | CN¥2.31bn | CN¥2.07bn |
| Gross profit | CN¥81.0m | CN¥106.4m | CN¥112.0m | CN¥346.1m | CN¥661.0m | CN¥705.0m | CN¥704.9m | CN¥538.6m | CN¥306.4m | CN¥286.6m |
| Research and development | CN¥4.0m | CN¥6.0m | CN¥4.2m | CN¥4.8m | CN¥11.2m | CN¥9.1m | — | — | — | — |
| Operating income | — | CN¥106.0m | CN¥200.1m | CN¥1.21bn | CN¥441.4m | CN¥402.7m | CN¥346.2m | CN¥247.2m | CN¥198.1m | CN¥131.7m |
| Net income | CN¥122.9m | CN¥121.8m | CN¥212.9m | CN¥916.8m | CN¥330.9m | CN¥315.3m | CN¥246.1m | CN¥167.2m | CN¥155.3m | CN¥105.6m |
| Diluted earnings per share | 0.21 | 0.21 | 0.36 | 1.57 | 0.57 | 0.54 | 0.40 | 0.29 | 0.28 | 0.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥6.89bn | CN¥6.25bn | CN¥7.00bn | CN¥5.73bn | CN¥4.71bn | CN¥3.73bn | CN¥2.57bn | CN¥2.11bn | CN¥2.04bn | CN¥1.59bn |
| Cash and short-term investments | — | CN¥2.38bn | CN¥3.61bn | CN¥2.74bn | CN¥2.74bn | CN¥2.27bn | CN¥1.42bn | CN¥1.15bn | CN¥1.14bn | CN¥436.1m |
| Total liabilities | CN¥3.56bn | CN¥3.04bn | CN¥3.83bn | CN¥2.68bn | CN¥2.29bn | CN¥1.69bn | CN¥774.8m | CN¥540.1m | CN¥596.2m | CN¥341.0m |
| Debt | CN¥835.5m | CN¥1.90bn | CN¥2.84bn | CN¥1.70bn | CN¥817.5m | CN¥154.6m | CN¥9.9m | CN¥5.3m | CN¥2.0m | — |
| Shareholders' equity | CN¥3.22bn | CN¥3.17bn | CN¥3.14bn | CN¥3.01bn | CN¥2.32bn | CN¥1.95bn | CN¥1.70bn | CN¥1.50bn | CN¥1.37bn | CN¥1.24bn |
| Shares outstanding | 584m | 584m | 584m | 584m | 581m | 586m | 619m | 570m | 563m | 530m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥189.2m | CN¥291.1m | CN¥42.0m | CN¥245.0m | CN¥199.3m | CN¥575.6m | CN¥149.0m | CN¥127.2m | CN¥290.6m | CN¥186.4m |
| Capital spending | −CN¥341.5m | −CN¥472.8m | −CN¥351.5m | −CN¥306.8m | −CN¥147.6m | −CN¥59.7m | −CN¥37.7m | −CN¥33.3m | −CN¥47.2m | −CN¥53.6m |
| Free cash flow | −CN¥530.7m | −CN¥181.7m | −CN¥309.4m | −CN¥61.8m | CN¥51.7m | CN¥515.9m | CN¥111.3m | CN¥94.0m | CN¥243.3m | CN¥132.8m |
| Dividends paid | −CN¥129.4m | −CN¥140.2m | −CN¥136.5m | −CN¥87.6m | −CN¥64.2m | −CN¥58.4m | −CN¥40.9m | −CN¥39.2m | −CN¥25.9m | −CN¥29,369 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥533.5m | CN¥510.5m | CN¥375.7m | CN¥542.0m | CN¥638.1m | CN¥508.6m | CN¥453.6m | CN¥658.2m |
| Gross profit | −CN¥17.8m | −CN¥1.2m | −CN¥265,650 | CN¥20.3m | CN¥28.1m | CN¥32.8m | CN¥26.0m | CN¥32.2m |
| Operating income | −CN¥44.3m | −CN¥25.2m | −CN¥14.5m | −CN¥8.7m | CN¥61.9m | CN¥19.7m | CN¥21.8m | CN¥12.2m |
| Net income | CN¥34.7m | −CN¥2.2m | CN¥55.7m | −CN¥6.4m | CN¥59.6m | CN¥13.9m | CN¥36.7m | CN¥14.4m |
| Diluted earnings per share | 0.06 | -0.00 | 0.10 | -0.01 | 0.10 | 0.02 | 0.06 | 0.02 |
| Cash from operations | — | — | — | −CN¥2.0m | CN¥6.0m | −CN¥144.0m | CN¥174.0m | CN¥142.0m |
| Capital spending | −CN¥32.0m | −CN¥95.0m | −CN¥137.0m | −CN¥55.0m | −CN¥47.0m | −CN¥101.0m | −CN¥89.0m | −CN¥42.0m |
| Free cash flow | — | — | — | −CN¥57.0m | −CN¥41.0m | −CN¥245.0m | CN¥85.0m | CN¥100.0m |
| Total assets | CN¥7.16bn | CN¥7.29bn | CN¥6.89bn | CN¥6.82bn | CN¥6.65bn | CN¥6.42bn | CN¥6.25bn | CN¥6.26bn |
| Cash and short-term investments | — | — | — | CN¥2.23bn | CN¥2.20bn | CN¥2.17bn | CN¥2.38bn | CN¥2.52bn |
| Debt | CN¥931.7m | CN¥938.6m | CN¥835.5m | CN¥1.64bn | CN¥2.23bn | CN¥1.97bn | CN¥1.83bn | CN¥1.85bn |
| Shareholders' equity | CN¥3.18bn | CN¥3.22bn | CN¥3.22bn | CN¥3.17bn | CN¥3.18bn | CN¥3.19bn | CN¥3.17bn | CN¥3.14bn |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 3.9% | 4.6% | 4.0% | 10.1% | 18.2% | 20.8% |
| Operating margin | 15.0% | 8.3% | 11.3% | 36.8% | 13.8% | 12.3% |
| Net margin | 6.0% | 5.2% | 7.6% | 26.8% | 9.1% | 9.3% |
| Return on equity | 3.8% | 3.8% | 6.8% | 30.4% | 14.3% | 16.2% |
| Return on assets | 1.8% | 1.9% | 3.0% | 16.0% | 7.0% | 8.5% |
| Free cash flow yield | 5.5% | 27.5% | 14.2% | 19.9% | 12.6% | 22.8% |
| Revenue growth | -11.6% | -16.3% | -18.4% | -6.1% | 7.2% | 12.4% |
| Earnings growth | 0.9% | -42.8% | -76.8% | 177.0% | 5.0% | 28.1% |
| Current ratio | 1.34x | 1.79x | 1.65x | 2.11x | 2.17x | 2.50x |
| Debt to equity | 0.26x | 0.58x | 0.87x | 0.54x | 0.31x | 0.08x |
| Equity ratio | 46.8% | 50.7% | 44.8% | 52.6% | 49.1% | 52.1% |
| Interest coverage | 6.14x | 3.63x | 5.63x | 34.15x | 32.68x | 130.24x |
| R&D as a share of sales | 0.2% | 0.3% | 0.2% | 0.1% | 0.3% | 0.3% |
| Buybacks as a share of market value | 0.1% | -0.0% | -0.0% | -0.5% | 0.8% | 5.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -15.5% | -9.5% | 0.7% |
| Net income | -48.8% | -17.2% | 5.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 4.3% | 6.1% | 11.4% | 13.8% |
| Net margin | 5.6% | 13.0% | 11.5% | 9.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 28.6 | 28.3 | 18.6 | 5.6 | 11.1 | 12.6 | 17.2 | 15.3 | 24.6 | 59.2 |
| Price to sales | 1.7 | 1.5 | 1.4 | 1.5 | 1.0 | 1.2 | 1.4 | 1.0 | 1.7 | 3.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 9 years. Last went ex-dividend on 26 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.12 | 0.12 | 0.15 | 0.15 | 0.15 | 0.11 | 0.10 | 0.07 |
- 1-to-1 reverse split · 20 Jan 2009
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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