S 
3.22
-0.92%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥90.38bn
FY2016FY2025
Net income
CN¥51.5m
FY2016FY2025
Free cash flow
CN¥1.33bn
FY2016FY2025
Shareholders' equity
CN¥32.66bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥90.38bn | CN¥100.38bn | CN¥105.62bn | CN¥97.65bn | CN¥101.44bn | CN¥67.42bn | CN¥70.42bn | CN¥72.95bn | CN¥67.79bn | CN¥56.81bn |
| Gross profit | CN¥5.16bn | CN¥850.3m | CN¥149.9m | CN¥2.27bn | CN¥10.16bn | CN¥5.50bn | CN¥7.65bn | CN¥11.17bn | CN¥10.67bn | CN¥7.31bn |
| Research and development | CN¥711.5m | CN¥1.11bn | CN¥904.1m | CN¥828.3m | CN¥3.36bn | CN¥2.15bn | CN¥2.30bn | CN¥2.22bn | CN¥1.91bn | CN¥2.02bn |
| Operating income | CN¥544.1m | −CN¥941.0m | −CN¥1.28bn | CN¥226.6m | CN¥6.90bn | CN¥1.78bn | CN¥2.87bn | CN¥6.29bn | CN¥4.54bn | CN¥991.4m |
| Net income | CN¥51.5m | −CN¥981.0m | −CN¥1.08bn | CN¥153.5m | CN¥6.31bn | CN¥1.74bn | CN¥2.12bn | CN¥4.98bn | CN¥4.62bn | CN¥1.15bn |
| Diluted earnings per share | 0.01 | -0.17 | -0.19 | 0.02 | 1.11 | 0.30 | 0.37 | 0.87 | 0.81 | 0.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥62.03bn | CN¥67.53bn | CN¥68.24bn | CN¥72.86bn | CN¥67.60bn | CN¥68.59bn | CN¥69.55bn | CN¥71.82bn | CN¥74.50bn | CN¥72.66bn |
| Cash and short-term investments | — | CN¥8.68bn | CN¥8.36bn | CN¥11.07bn | CN¥17.86bn | CN¥18.61bn | CN¥9.81bn | CN¥10.50bn | CN¥10.20bn | CN¥6.69bn |
| Total liabilities | CN¥27.00bn | CN¥32.62bn | CN¥32.32bn | CN¥35.51bn | CN¥32.06bn | CN¥35.14bn | CN¥37.30bn | CN¥41.00bn | CN¥47.16bn | CN¥49.47bn |
| Debt | CN¥494.3m | CN¥4.59bn | CN¥9.80bn | CN¥11.37bn | CN¥8.07bn | CN¥16.97bn | CN¥18.23bn | CN¥17.43bn | CN¥17.92bn | CN¥22.09bn |
| Shareholders' equity | CN¥32.66bn | CN¥32.57bn | CN¥33.58bn | CN¥34.83bn | CN¥35.07bn | CN¥32.92bn | CN¥31.94bn | CN¥30.46bn | CN¥26.90bn | CN¥22.50bn |
| Shares outstanding | 5,696m | 5,696m | 5,689m | 6,454m | 5,687m | 5,719m | 5,674m | 5,698m | 5,694m | 5,692m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥3.12bn | CN¥2.43bn | CN¥2.67bn | CN¥5.11bn | CN¥15.77bn | CN¥6.89bn | CN¥3.87bn | CN¥9.21bn | CN¥10.89bn | CN¥7.65bn |
| Capital spending | −CN¥1.79bn | −CN¥2.40bn | −CN¥3.36bn | −CN¥3.64bn | −CN¥2.68bn | −CN¥2.31bn | −CN¥1.27bn | −CN¥600.1m | −CN¥564.6m | −CN¥1.64bn |
| Free cash flow | CN¥1.33bn | CN¥31.6m | −CN¥690.3m | CN¥1.47bn | CN¥13.08bn | CN¥4.57bn | CN¥2.60bn | CN¥8.61bn | CN¥10.32bn | CN¥6.02bn |
| Dividends paid | −CN¥161.7m | −CN¥246.0m | −CN¥444.2m | −CN¥725.6m | −CN¥4.80bn | −CN¥569.6m | −CN¥1.52bn | −CN¥2.54bn | −CN¥1.60bn | −CN¥1.54bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥25.23bn | CN¥22.21bn | CN¥22.37bn | CN¥22.04bn | CN¥22.66bn | CN¥23.31bn | CN¥25.09bn | CN¥25.57bn |
| Gross profit | CN¥562.6m | CN¥214.5m | CN¥43.7m | CN¥479.2m | CN¥662.5m | CN¥279.4m | −CN¥15.6m | −CN¥52.6m |
| Operating income | CN¥352.9m | CN¥41.3m | −CN¥278.1m | −CN¥34.6m | CN¥235.2m | CN¥239.2m | −CN¥524.9m | −CN¥676.2m |
| Net income | CN¥115.3m | CN¥20.2m | −CN¥516.5m | CN¥175.0m | CN¥205.1m | CN¥187.9m | −CN¥426.7m | −CN¥693.3m |
| Diluted earnings per share | 0.02 | 0.00 | -0.09 | 0.03 | 0.04 | 0.03 | -0.07 | -0.12 |
| Cash from operations | — | — | — | CN¥676.0m | CN¥1.20bn | CN¥1.33bn | CN¥65.0m | CN¥1.08bn |
| Capital spending | −CN¥528.0m | −CN¥384.0m | −CN¥492.0m | −CN¥289.0m | −CN¥525.0m | −CN¥481.0m | −CN¥689.0m | −CN¥611.0m |
| Free cash flow | — | — | — | CN¥387.0m | CN¥671.0m | CN¥851.0m | −CN¥624.0m | CN¥472.0m |
| Total assets | CN¥63.39bn | CN¥63.33bn | CN¥62.03bn | CN¥66.23bn | CN¥66.50bn | CN¥67.93bn | CN¥67.53bn | CN¥68.89bn |
| Cash and short-term investments | — | — | — | CN¥8.79bn | CN¥9.17bn | CN¥8.78bn | CN¥8.68bn | CN¥8.76bn |
| Debt | CN¥611.5m | CN¥492.6m | CN¥494.3m | CN¥18.45bn | CN¥793.1m | CN¥2.09bn | CN¥4.16bn | CN¥6.72bn |
| Shareholders' equity | CN¥32.75bn | CN¥32.68bn | CN¥32.66bn | CN¥33.15bn | CN¥32.97bn | CN¥32.76bn | CN¥32.57bn | CN¥33.04bn |
Financial ratios
Data as of 23 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 5.7% | 0.8% | 0.1% | 2.3% | 10.0% | 8.2% |
| Operating margin | 0.6% | -0.9% | -1.2% | 0.2% | 6.8% | 2.6% |
| Net margin | 0.1% | -1.0% | -1.0% | 0.2% | 6.2% | 2.6% |
| Return on equity | 0.2% | -3.0% | -3.2% | 0.4% | 18.0% | 5.3% |
| Return on assets | 0.1% | -1.5% | -1.6% | 0.2% | 9.3% | 2.5% |
| Free cash flow yield | 25.5% | 25.1% | 31.3% | 40.1% | 96.0% | 47.6% |
| Revenue growth | -10.0% | -5.0% | 8.2% | -3.7% | 50.5% | -4.3% |
| Earnings growth | -105.3% | -9.2% | -803.8% | -97.6% | 263.6% | -18.1% |
| Current ratio | 0.63x | 0.73x | 0.88x | 0.93x | 0.74x | 0.78x |
| Debt to equity | 0.02x | 0.13x | 0.28x | 0.31x | 0.23x | 0.51x |
| Equity ratio | 52.6% | 48.2% | 49.2% | 47.8% | 51.9% | 48.0% |
| Interest coverage | 2.84x | -4.22x | -4.32x | 0.65x | 11.60x | 2.05x |
| R&D as a share of sales | 0.8% | 1.1% | 0.9% | 0.8% | 3.3% | 3.2% |
| Buybacks as a share of market value | 0.0% | -0.1% | 11.9% | -13.5% | 0.5% | -0.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.5% | 6.0% | 2.9% |
| Operating income | 33.9% | -21.1% | — |
| Net income | -30.5% | -50.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 3.2% | 2.1% | 4.3% | 7.0% |
| Operating margin | -0.2% | -0.4% | 1.3% | 2.0% |
| Net margin | -0.5% | -0.5% | 1.1% | 1.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | — | -20.2 | -19.6 | 181.6 | 6.3 | 11.9 | 10.9 | 4.7 | 6.1 | 19.5 |
| Price to sales | 0.3 | 0.2 | 0.2 | 0.3 | 0.4 | 0.3 | 0.3 | 0.3 | 0.4 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 9 Jun 2026.
| FY2026 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.009 | 0.025 | 0.06 | 0.739 | 0.10 | 0.10 | 0.243 | 0.02 |
- 3-for-2 split · 8 Oct 2008
- 13-for-10 split · 21 May 2007
- 1-to-1 reverse split · 7 Mar 2006
- 6-for-5 split · 22 Aug 2003
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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