Z 
6.08
-2.41%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.28bn
FY2016FY2025
Net income
CN¥22.7m
FY2016FY2025
Free cash flow
−CN¥145.6m
FY2016FY2025
Shareholders' equity
CN¥1.98bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.28bn | CN¥3.74bn | CN¥4.11bn | CN¥4.15bn | CN¥3.61bn | CN¥3.44bn | CN¥3.24bn | CN¥2.86bn | CN¥2.58bn | CN¥2.44bn |
| Gross profit | CN¥567.5m | CN¥693.4m | CN¥762.6m | CN¥748.6m | CN¥703.3m | CN¥730.1m | CN¥682.8m | CN¥581.4m | CN¥420.0m | CN¥342.7m |
| Research and development | CN¥48.8m | CN¥55.6m | CN¥46.2m | CN¥43.4m | CN¥33.0m | CN¥26.7m | CN¥32.9m | CN¥37.8m | CN¥24.8m | CN¥16.8m |
| Operating income | CN¥14.3m | CN¥55.9m | CN¥113.0m | CN¥105.3m | CN¥106.2m | CN¥116.8m | CN¥258.4m | CN¥86.6m | CN¥79.1m | CN¥58.6m |
| Net income | CN¥22.7m | CN¥34.7m | CN¥81.6m | CN¥77.9m | CN¥77.3m | CN¥89.4m | CN¥211.6m | CN¥70.9m | CN¥61.1m | CN¥45.3m |
| Diluted earnings per share | 0.07 | 0.09 | 0.23 | 0.22 | 0.23 | 0.28 | 0.62 | 0.20 | 0.17 | 0.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.93bn | CN¥3.42bn | CN¥2.94bn | CN¥3.23bn | CN¥2.99bn | CN¥2.70bn | CN¥2.59bn | CN¥2.12bn | CN¥2.05bn | CN¥2.02bn |
| Cash and short-term investments | — | CN¥549.4m | CN¥458.9m | CN¥453.5m | CN¥633.6m | CN¥660.2m | CN¥541.1m | CN¥215.6m | CN¥235.5m | CN¥245.5m |
| Total liabilities | CN¥953.1m | CN¥1.46bn | CN¥940.3m | CN¥1.28bn | CN¥1.11bn | CN¥939.3m | CN¥876.8m | CN¥677.0m | CN¥661.6m | CN¥703.4m |
| Debt | CN¥135.7m | CN¥414.3m | CN¥55.0m | CN¥81.2m | CN¥82.9m | CN¥50.0m | CN¥97.6m | CN¥30.0m | CN¥30.0m | CN¥60.5m |
| Shareholders' equity | CN¥1.98bn | CN¥1.96bn | CN¥1.98bn | CN¥1.92bn | CN¥1.85bn | CN¥1.74bn | CN¥1.69bn | CN¥1.42bn | CN¥1.37bn | CN¥1.29bn |
| Shares outstanding | 340m | 387m | 359m | 353m | 342m | 322m | 341m | 348m | 355m | 291m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥40.6m | CN¥76.1m | CN¥90.8m | −CN¥20.1m | CN¥75.2m | CN¥154.8m | CN¥118.4m | CN¥25.5m | CN¥51.7m | CN¥116.0m |
| Capital spending | −CN¥186.2m | −CN¥331.4m | −CN¥194.1m | −CN¥104.0m | −CN¥71.2m | −CN¥42.2m | −CN¥87.5m | −CN¥48.9m | −CN¥37.6m | −CN¥43.0m |
| Free cash flow | −CN¥145.6m | −CN¥255.3m | −CN¥103.2m | −CN¥124.1m | CN¥4.0m | CN¥112.6m | CN¥30.8m | −CN¥23.4m | CN¥14.1m | CN¥73.0m |
| Dividends paid | −CN¥27.1m | −CN¥23.9m | −CN¥20.0m | −CN¥20.5m | −CN¥23.4m | −CN¥20.0m | −CN¥10.0m | −CN¥1.5m | −CN¥8.4m | −CN¥11.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥431.3m | CN¥440.5m | CN¥496.0m | CN¥496.4m | CN¥531.6m | CN¥751.7m | CN¥889.1m | CN¥892.8m |
| Gross profit | CN¥102.1m | CN¥97.0m | CN¥105.8m | CN¥138.7m | CN¥151.9m | CN¥171.1m | CN¥147.2m | CN¥172.7m |
| Operating income | CN¥14.5m | −CN¥11.8m | −CN¥20.3m | CN¥2.7m | CN¥23.0m | CN¥41.2m | −CN¥7.6m | CN¥5.1m |
| Net income | CN¥8.4m | −CN¥21.8m | −CN¥33.4m | −CN¥203,781 | CN¥20.4m | CN¥35.9m | −CN¥8.8m | CN¥44,966 |
| Diluted earnings per share | 0.02 | -0.06 | -0.10 | -0.00 | 0.06 | 0.11 | -0.02 | 0.00 |
| Cash from operations | — | — | — | CN¥24.0m | CN¥23.0m | −CN¥16.0m | — | CN¥21.0m |
| Capital spending | −CN¥33.0m | −CN¥27.0m | −CN¥79.0m | −CN¥25.0m | −CN¥15.0m | −CN¥65.0m | −CN¥112.0m | −CN¥91.0m |
| Free cash flow | — | — | — | −CN¥1.0m | CN¥8.0m | −CN¥81.0m | — | −CN¥70.0m |
| Total assets | CN¥2.88bn | CN¥2.93bn | CN¥2.93bn | CN¥3.03bn | CN¥2.96bn | CN¥2.88bn | CN¥3.42bn | CN¥3.27bn |
| Cash and short-term investments | — | — | — | CN¥534.1m | CN¥512.5m | CN¥503.3m | CN¥549.4m | CN¥558.6m |
| Debt | CN¥76.8m | CN¥146.8m | CN¥135.7m | CN¥167.7m | CN¥188.7m | CN¥166.9m | CN¥378.6m | CN¥231.2m |
| Shareholders' equity | CN¥1.94bn | CN¥1.95bn | CN¥1.98bn | CN¥2.02bn | CN¥2.01bn | CN¥2.00bn | CN¥1.96bn | CN¥1.97bn |
Financial ratios
Data as of 24 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 24.9% | 18.5% | 18.6% | 18.1% | 19.5% | 21.2% | — | — |
| Operating margin | 1.8% | 1.6% | 2.8% | 2.6% | 3.0% | 3.4% | — | — |
| Net margin | 1.0% | 0.9% | 2.0% | 1.9% | 2.1% | 2.6% | — | — |
| Return on equity | 1.1% | 1.8% | 4.1% | 4.1% | 4.2% | 5.1% | — | — |
| Return on assets | 0.8% | 1.0% | 2.8% | 2.4% | 2.6% | 3.3% | — | — |
| Free cash flow yield | 10.0% | 15.8% | 11.9% | 3.6% | 6.4% | 9.2% | — | — |
| Revenue growth | -39.2% | -8.9% | -0.9% | 14.8% | 5.0% | 6.1% | — | — |
| Earnings growth | -34.7% | -57.5% | 4.8% | 0.8% | -13.5% | -57.7% | — | — |
| Current ratio | 1.93x | 1.80x | 2.40x | 1.93x | 2.08x | 2.13x | — | — |
| Debt to equity | 0.07x | 0.19x | 0.00x | — | — | 0.04x | 0.02x | 0.02x |
| Equity ratio | 67.5% | 57.3% | 67.2% | 59.5% | 62.1% | 64.5% | — | — |
| Interest coverage | 8.36x | 9.03x | 34.09x | 24.68x | 19.02x | 48.52x | — | — |
| R&D as a share of sales | 2.1% | 1.5% | 1.1% | 1.0% | 0.9% | 0.8% | — | — |
| Buybacks as a share of market value | 12.0% | -7.9% | -1.7% | -3.2% | -6.2% | 5.6% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -18.1% | -7.9% | 0.5% |
| Operating income | -48.7% | -34.3% | -7.2% |
| Net income | -33.7% | -24.0% | -3.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 21.0% | 19.4% | 19.7% | 18.9% |
| Operating margin | 1.2% | 2.0% | 2.4% | 3.0% |
| Net margin | 1.0% | 1.5% | 1.8% | 2.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 136.0 | 88.1 | 47.8 | 35.9 | 39.3 | 26.1 | 10.7 | 29.7 | 47.8 | 83.9 |
| Price to sales | 1.4 | 0.8 | 0.9 | 0.7 | 0.8 | 0.7 | 0.7 | 0.7 | 1.1 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 7 years. Last went ex-dividend on 27 Jun 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.06 | 0.06 | 0.06 | 0.06 | 0.07 | 0.06 | 0.03 | 0.02 |
- 2-for-1 split · 27 Aug 2014
- 1-to-1 reverse split · 10 Jul 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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