A 
4.58
-0.43%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥28.94bn
FY2016FY2025
Net income
−CN¥1.05bn
FY2016FY2025
Free cash flow
CN¥2.84bn
FY2016FY2025
Shareholders' equity
CN¥17.58bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥28.94bn | CN¥29.49bn | CN¥32.78bn | CN¥37.38bn | CN¥31.04bn | CN¥28.44bn | CN¥27.56bn | CN¥26.87bn | CN¥23.82bn | CN¥22.07bn |
| Gross profit | CN¥7.62bn | CN¥6.58bn | CN¥6.54bn | CN¥9.24bn | CN¥7.56bn | CN¥8.31bn | CN¥8.81bn | CN¥8.74bn | CN¥8.36bn | CN¥7.13bn |
| Research and development | CN¥574.6m | CN¥416.3m | CN¥482.8m | CN¥577.9m | CN¥501.4m | CN¥478.8m | CN¥436.3m | CN¥442.3m | CN¥360.5m | CN¥225.9m |
| Operating income | CN¥1.64bn | −CN¥2.18bn | −CN¥1.46bn | CN¥1.94bn | CN¥1.64bn | CN¥1.71bn | CN¥529.7m | CN¥3.32bn | CN¥1.68bn | CN¥832.9m |
| Net income | −CN¥1.05bn | −CN¥2.90bn | −CN¥1.61bn | CN¥609.4m | CN¥157.4m | CN¥352.8m | CN¥277.0m | CN¥2.45bn | CN¥1.55bn | CN¥369.1m |
| Diluted earnings per share | -0.45 | -1.25 | -0.69 | 0.26 | 0.07 | 0.15 | 0.11 | 1.00 | 0.66 | 0.62 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥48.46bn | CN¥50.06bn | CN¥55.41bn | CN¥57.98bn | CN¥50.24bn | CN¥46.80bn | CN¥45.29bn | CN¥42.81bn | CN¥39.61bn | CN¥2.98bn |
| Cash and short-term investments | — | CN¥3.63bn | CN¥4.88bn | CN¥4.29bn | CN¥5.82bn | CN¥3.87bn | CN¥4.38bn | CN¥6.28bn | CN¥7.89bn | CN¥547.3m |
| Total liabilities | CN¥30.89bn | CN¥31.07bn | CN¥33.48bn | CN¥34.86bn | CN¥29.16bn | CN¥25.37bn | CN¥22.92bn | CN¥20.53bn | CN¥20.84bn | CN¥979.8m |
| Debt | CN¥6.40bn | CN¥13.85bn | CN¥18.33bn | CN¥17.05bn | CN¥14.33bn | CN¥13.32bn | CN¥12.38bn | CN¥8.76bn | CN¥11.02bn | CN¥343.6m |
| Shareholders' equity | CN¥17.58bn | CN¥18.99bn | CN¥21.92bn | CN¥23.12bn | CN¥21.08bn | CN¥21.35bn | CN¥22.37bn | CN¥22.28bn | CN¥18.78bn | CN¥2.01bn |
| Shares outstanding | 2,330m | 2,330m | 2,330m | 2,330m | 2,325m | 2,373m | 2,448m | 2,448m | 2,343m | 596m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥4.05bn | CN¥3.76bn | CN¥2.62bn | CN¥940.7m | CN¥4.56bn | CN¥2.02bn | CN¥843.5m | CN¥2.00bn | CN¥3.96bn | CN¥268.4m |
| Capital spending | −CN¥1.21bn | −CN¥1.42bn | −CN¥2.37bn | −CN¥2.67bn | −CN¥2.59bn | −CN¥1.97bn | −CN¥1.76bn | −CN¥3.38bn | −CN¥1.50bn | −CN¥130.8m |
| Free cash flow | CN¥2.84bn | CN¥2.34bn | CN¥248.1m | −CN¥1.73bn | CN¥1.97bn | CN¥53.2m | −CN¥916.5m | −CN¥1.37bn | CN¥2.46bn | CN¥137.5m |
| Dividends paid | −CN¥926.0m | −CN¥1.06bn | −CN¥1.22bn | −CN¥18.6m | −CN¥37.3m | −CN¥29.4m | −CN¥293.6m | −CN¥687.6m | −CN¥731.5m | −CN¥40.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥7.27bn | CN¥7.21bn | CN¥7.27bn | CN¥6.65bn | CN¥7.85bn | CN¥7.17bn | CN¥7.96bn | CN¥6.61bn |
| Gross profit | CN¥1.96bn | CN¥2.00bn | CN¥1.95bn | CN¥1.68bn | CN¥1.80bn | CN¥2.17bn | CN¥1.80bn | CN¥1.33bn |
| Operating income | CN¥509.7m | CN¥545.2m | CN¥381.9m | CN¥192.7m | −CN¥818.2m | CN¥686.0m | −CN¥689.5m | −CN¥890.3m |
| Net income | −CN¥136.7m | CN¥569.2m | −CN¥622.9m | −CN¥342.5m | −CN¥231.4m | CN¥151.0m | −CN¥1.07bn | −CN¥943.2m |
| Diluted earnings per share | -0.06 | 0.24 | -0.27 | -0.15 | -0.10 | 0.06 | -0.46 | -0.40 |
| Cash from operations | — | — | — | CN¥638.0m | CN¥1.95bn | −CN¥206.0m | CN¥901.0m | CN¥1.13bn |
| Capital spending | −CN¥208.0m | −CN¥270.0m | −CN¥347.0m | −CN¥275.0m | −CN¥272.0m | −CN¥317.0m | −CN¥349.0m | −CN¥273.0m |
| Free cash flow | — | — | — | CN¥363.0m | CN¥1.67bn | −CN¥523.0m | CN¥552.0m | CN¥858.0m |
| Total assets | CN¥46.65bn | CN¥49.10bn | CN¥48.46bn | CN¥49.93bn | CN¥50.70bn | CN¥51.03bn | CN¥50.06bn | CN¥51.52bn |
| Cash and short-term investments | — | — | — | CN¥3.75bn | CN¥3.50bn | CN¥3.72bn | CN¥3.63bn | CN¥4.18bn |
| Debt | CN¥6.29bn | CN¥6.23bn | CN¥6.40bn | CN¥9.04bn | CN¥13.48bn | CN¥16.26bn | CN¥13.24bn | CN¥16.22bn |
| Shareholders' equity | CN¥17.64bn | CN¥17.92bn | CN¥17.58bn | CN¥18.45bn | CN¥18.91bn | CN¥19.13bn | CN¥18.99bn | CN¥19.78bn |
Financial ratios
Data as of 2 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 26.3% | 22.3% | 19.9% | 24.7% | 24.4% | 29.2% |
| Operating margin | 5.7% | -7.4% | -4.5% | 5.2% | 5.3% | 6.0% |
| Net margin | -3.6% | -9.8% | -4.9% | 1.6% | 0.5% | 1.2% |
| Return on equity | -5.9% | -15.3% | -7.3% | 2.6% | 0.7% | 1.7% |
| Return on assets | -2.2% | -5.8% | -2.9% | 1.1% | 0.3% | 0.8% |
| Free cash flow yield | 41.2% | 40.6% | 39.1% | 28.3% | 56.1% | 30.7% |
| Revenue growth | -1.8% | -10.0% | -12.3% | 20.4% | 9.1% | 3.2% |
| Earnings growth | -64.0% | 80.8% | -363.5% | 287.2% | -55.4% | 27.3% |
| Current ratio | 1.14x | 1.44x | 1.57x | 1.60x | 1.97x | 2.11x |
| Debt to equity | 0.36x | 0.70x | 0.71x | 0.77x | 0.66x | 0.61x |
| Equity ratio | 36.3% | 37.9% | 39.6% | 39.9% | 42.0% | 45.6% |
| Interest coverage | 1.51x | -1.27x | -0.81x | 1.28x | 1.38x | 2.14x |
| R&D as a share of sales | 2.0% | 1.4% | 1.5% | 1.5% | 1.6% | 1.7% |
| Buybacks as a share of market value | 0.0% | -0.0% | 0.0% | -0.2% | 2.0% | 3.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.2% | 0.3% | 3.8% |
| Operating income | -5.5% | -0.9% | -1.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 24.3% | 23.3% | 24.4% | 27.6% |
| Operating margin | -0.9% | -0.1% | 1.7% | 3.8% |
| Net margin | -6.8% | -3.8% | -2.4% | 0.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -12.2 | -5.4 | -10.1 | 34.6 | 124.7 | 52.6 | 88.3 | 9.1 | 24.0 | 24.2 |
| Price to sales | 0.4 | 0.5 | 0.5 | 0.6 | 0.6 | 0.7 | 0.9 | 0.8 | 1.6 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 6 Jun 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.027 | 0.008 | 0.016 | 0.012 | 0.097 | 0.063 | 0.025 | 0.10 |
- 2-for-1 split · 9 Jul 2007
- 1-to-1 reverse split · 3 Aug 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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