W 
17.53
+0.98%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥12.02bn
FY2016FY2025
Net income
CN¥1.07bn
FY2016FY2025
Free cash flow
CN¥50.8m
FY2016FY2025
Shareholders' equity
CN¥19.92bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥12.02bn | CN¥11.17bn | CN¥11.09bn | CN¥12.73bn | CN¥13.68bn | CN¥12.88bn | CN¥8.78bn | CN¥8.72bn | CN¥9.02bn | CN¥6.42bn |
| Gross profit | CN¥2.08bn | CN¥1.87bn | CN¥1.65bn | CN¥1.53bn | CN¥2.33bn | CN¥2.31bn | CN¥1.94bn | CN¥1.95bn | CN¥2.16bn | CN¥1.47bn |
| Research and development | CN¥695.6m | CN¥690.3m | CN¥667.9m | CN¥581.5m | CN¥595.4m | CN¥532.6m | CN¥417.9m | CN¥403.3m | CN¥391.3m | CN¥319.4m |
| Operating income | CN¥454.8m | CN¥1.76bn | CN¥1.92bn | CN¥181.6m | CN¥2.77bn | CN¥2.94bn | CN¥2.45bn | CN¥2.61bn | CN¥2.82bn | CN¥1.78bn |
| Net income | CN¥1.07bn | CN¥1.66bn | CN¥1.84bn | CN¥118.8m | CN¥2.58bn | CN¥2.77bn | CN¥2.27bn | CN¥2.40bn | CN¥2.57bn | CN¥1.67bn |
| Diluted earnings per share | 1.10 | 1.71 | 1.89 | 0.12 | 2.59 | 2.82 | 2.22 | 2.39 | 2.58 | 1.64 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥29.67bn | CN¥28.40bn | CN¥28.08bn | CN¥28.53bn | CN¥27.97bn | CN¥27.37bn | CN¥24.07bn | CN¥20.91bn | CN¥20.23bn | CN¥17.26bn |
| Cash and short-term investments | — | CN¥3.68bn | CN¥4.67bn | CN¥5.11bn | CN¥7.97bn | CN¥5.48bn | CN¥5.54bn | CN¥7.33bn | CN¥6.96bn | CN¥5.84bn |
| Total liabilities | CN¥8.81bn | CN¥7.89bn | CN¥7.90bn | CN¥10.09bn | CN¥8.01bn | CN¥8.58bn | CN¥6.59bn | CN¥4.44bn | CN¥4.88bn | CN¥3.87bn |
| Debt | CN¥587.9m | CN¥540.4m | CN¥1.18bn | CN¥3.87bn | CN¥1.45bn | CN¥327.9m | CN¥347.3m | CN¥329.4m | CN¥288.0m | CN¥210.0m |
| Shareholders' equity | CN¥19.92bn | CN¥19.84bn | CN¥19.40bn | CN¥17.70bn | CN¥19.40bn | CN¥18.28bn | CN¥16.99bn | CN¥15.94bn | CN¥14.84bn | CN¥12.93bn |
| Shares outstanding | 967m | 972m | 972m | 976m | 995m | 983m | 1,022m | 1,001m | 996m | 1,017m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥992.7m | CN¥1.58bn | CN¥1.63bn | −CN¥2.58bn | CN¥627.7m | CN¥781.8m | CN¥1.05bn | CN¥874.4m | CN¥957.7m | CN¥527.3m |
| Capital spending | −CN¥941.9m | −CN¥1.08bn | −CN¥1.11bn | −CN¥1.15bn | −CN¥753.6m | −CN¥492.7m | −CN¥589.5m | −CN¥642.1m | −CN¥470.0m | −CN¥442.4m |
| Free cash flow | CN¥50.8m | CN¥501.4m | CN¥512.3m | −CN¥3.73bn | −CN¥125.9m | CN¥289.1m | CN¥459.1m | CN¥232.3m | CN¥487.7m | CN¥85.0m |
| Dividends paid | −CN¥987.1m | −CN¥1.21bn | −CN¥97.8m | −CN¥1.61bn | −CN¥1.55bn | −CN¥1.09bn | −CN¥1.21bn | −CN¥1.23bn | −CN¥615.2m | −CN¥516.3m |
Latest quarters
By quarter end
| Sept 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.25bn | CN¥3.58bn | CN¥3.00bn | CN¥3.52bn | CN¥2.74bn | CN¥2.93bn | CN¥2.83bn | CN¥2.95bn |
| Gross profit | CN¥444.3m | CN¥640.5m | CN¥528.7m | CN¥570.4m | CN¥518.5m | CN¥422.0m | CN¥500.9m | CN¥408.2m |
| Operating income | −CN¥21.1m | CN¥246.5m | CN¥141.1m | CN¥115.9m | CN¥71.9m | CN¥367.4m | CN¥388.7m | CN¥393.0m |
| Net income | CN¥346.9m | CN¥462.1m | CN¥374.3m | −CN¥83.9m | CN¥450.2m | CN¥347.5m | CN¥354.4m | CN¥382.1m |
| Diluted earnings per share | 0.36 | 0.48 | 0.39 | -0.09 | 0.47 | 0.36 | 0.37 | 0.39 |
| Cash from operations | — | — | — | — | CN¥1.03bn | CN¥690.0m | −CN¥189.0m | CN¥513.0m |
| Capital spending | −CN¥200.0m | −CN¥195.0m | −CN¥217.0m | −CN¥276.0m | −CN¥251.0m | −CN¥150.0m | −CN¥262.0m | −CN¥249.0m |
| Free cash flow | — | — | — | — | CN¥780.0m | CN¥540.0m | −CN¥451.0m | CN¥264.0m |
| Total assets | CN¥32.09bn | CN¥30.88bn | CN¥30.18bn | CN¥29.67bn | CN¥29.08bn | CN¥28.39bn | CN¥28.98bn | CN¥28.40bn |
| Cash and short-term investments | — | — | — | — | CN¥4.62bn | CN¥3.49bn | CN¥3.59bn | CN¥3.68bn |
| Debt | CN¥1.08bn | CN¥611.2m | CN¥611.5m | CN¥587.9m | CN¥2.83bn | CN¥718.1m | CN¥708.7m | CN¥493.1m |
| Shareholders' equity | CN¥20.07bn | CN¥20.02bn | CN¥20.26bn | CN¥19.92bn | CN¥20.06bn | CN¥19.71bn | CN¥20.23bn | CN¥19.84bn |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 17.3% | 16.7% | 14.9% | 12.0% | 17.0% | 17.9% |
| Operating margin | 3.8% | 15.7% | 2.0% | 1.4% | 20.2% | 22.8% |
| Net margin | 8.9% | 14.9% | 16.6% | 0.9% | 18.8% | 21.5% |
| Return on equity | 5.4% | 8.4% | 9.5% | 0.7% | 13.3% | 15.2% |
| Return on assets | 3.6% | 5.8% | 6.5% | 0.4% | 9.2% | 10.1% |
| Free cash flow yield | 11.1% | 15.1% | 15.6% | -8.1% | 7.7% | 7.2% |
| Revenue growth | 7.7% | 0.7% | -12.9% | -7.0% | 6.2% | 46.7% |
| Earnings growth | -35.6% | -9.7% | 1446.3% | -95.4% | -7.1% | 22.3% |
| Current ratio | 1.85x | 1.80x | 1.92x | 1.53x | 2.09x | 2.03x |
| Debt to equity | 0.03x | 0.02x | 0.06x | 0.22x | 0.07x | 0.02x |
| Equity ratio | 67.1% | 69.8% | 69.1% | 62.0% | 69.4% | 66.8% |
| Interest coverage | 20.13x | 57.36x | 2.15x | 1.53x | 43.53x | 126.72x |
| R&D as a share of sales | 5.8% | 6.2% | 6.0% | 4.6% | 4.4% | 4.1% |
| Buybacks as a share of market value | 0.5% | 0.0% | 0.4% | 2.0% | -1.3% | 3.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.9% | -1.4% | 7.7% |
| Operating income | 35.8% | -31.2% | -11.8% |
| Net income | 107.9% | -17.4% | -3.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 17.0% | 15.2% | 16.0% | 18.3% |
| Operating margin | 9.5% | 9.2% | 13.6% | 19.0% |
| Net margin | 11.8% | 10.0% | 13.6% | 18.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 18.7 | 11.1 | 8.0 | 145.6 | 8.3 | 8.2 | 8.6 | 7.4 | 9.3 | 13.7 |
| Price to sales | 1.7 | 1.6 | 1.3 | 1.4 | 1.6 | 1.8 | 2.2 | 2.0 | 2.6 | 3.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 24 years. Last went ex-dividend on 15 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.70 | 1.00 | 1.22 | 0.10 | 1.60 | 1.50 | 1.10 | 1.20 |
- 3-for-2 split · 3 Jul 2013
- 1-to-1 reverse split · 27 May 2009
- 1-to-1 reverse split · 5 Apr 2006
- 13-for-10 split · 22 Jul 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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