Z 
21.51
-1.10%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.68bn
FY2015FY2025
Net income
CN¥36.2m
FY2015FY2025
Free cash flow
−CN¥77.3m
FY2015FY2025
Shareholders' equity
CN¥1.12bn
FY2015FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.68bn | CN¥1.24bn | CN¥1.09bn | CN¥1.38bn | CN¥1.24bn | CN¥909.9m | CN¥674.8m | CN¥703.9m | CN¥686.2m | CN¥601.6m |
| Gross profit | CN¥424.4m | CN¥307.5m | CN¥264.9m | CN¥285.5m | CN¥244.2m | CN¥237.5m | CN¥171.2m | CN¥147.4m | CN¥205.1m | CN¥150.3m |
| Research and development | CN¥53.9m | CN¥45.1m | CN¥45.4m | CN¥49.4m | CN¥40.8m | CN¥29.6m | CN¥24.3m | CN¥23.3m | CN¥22.1m | CN¥20.3m |
| Operating income | CN¥63.8m | −CN¥8.7m | CN¥7.8m | CN¥61.8m | CN¥107.0m | CN¥108.5m | CN¥47.9m | CN¥56.2m | CN¥96.2m | CN¥75.5m |
| Net income | CN¥36.2m | −CN¥14.0m | CN¥16.9m | CN¥59.2m | CN¥107.6m | CN¥80.2m | CN¥41.6m | CN¥47.8m | CN¥84.7m | CN¥66.8m |
| Diluted earnings per share | 0.32 | -0.14 | 0.14 | 0.59 | 1.28 | 0.71 | 0.37 | 0.42 | 0.75 | 0.59 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.87bn | CN¥1.62bn | CN¥1.35bn | CN¥1.39bn | CN¥1.17bn | CN¥906.9m | CN¥728.9m | CN¥721.1m | CN¥674.1m | CN¥573.0m |
| Cash and short-term investments | — | CN¥297.2m | CN¥412.4m | CN¥461.3m | CN¥164.4m | CN¥247.2m | CN¥162.4m | CN¥134.5m | CN¥166.4m | CN¥77.5m |
| Total liabilities | CN¥749.2m | CN¥565.7m | CN¥262.4m | CN¥296.5m | CN¥509.9m | CN¥352.5m | CN¥255.7m | CN¥286.8m | CN¥295.2m | CN¥278.8m |
| Debt | — | CN¥116.1m | CN¥8.4m | CN¥22.9m | CN¥33.5m | CN¥159.4m | CN¥22.7m | — | — | CN¥14.2m |
| Shareholders' equity | CN¥1.12bn | CN¥1.06bn | CN¥1.09bn | CN¥1.10bn | CN¥663.1m | CN¥555.0m | CN¥475.0m | CN¥437.5m | CN¥378.3m | CN¥293.6m |
| Shares outstanding | 113m | 103m | 123m | 101m | 84m | 113m | 113m | 113m | 113m | 113m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥7.2m | CN¥12.5m | CN¥64.3m | CN¥45.6m | CN¥45.1m | CN¥187.3m | CN¥95.8m | CN¥12.8m | CN¥67.9m | CN¥50.2m |
| Capital spending | −CN¥70.1m | −CN¥122.7m | −CN¥60.7m | −CN¥105.1m | −CN¥156.2m | −CN¥56.1m | −CN¥31.1m | −CN¥54.5m | −CN¥29.3m | −CN¥23.7m |
| Free cash flow | −CN¥77.3m | −CN¥110.2m | CN¥3.6m | −CN¥59.6m | −CN¥111.1m | CN¥131.2m | CN¥64.7m | −CN¥41.7m | CN¥38.7m | CN¥26.5m |
| Dividends paid | −CN¥2.9m | −CN¥9.5m | −CN¥13.2m | −CN¥1.3m | −CN¥79,792 | −CN¥2.6m | −CN¥41.6m | −CN¥20.6m | −CN¥270,724 | −CN¥70.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥677.2m | CN¥632.2m | CN¥378.8m | CN¥256.3m | CN¥535.4m | CN¥506.9m | CN¥255.2m | CN¥229.8m |
| Gross profit | CN¥142.6m | CN¥163.6m | CN¥95.8m | CN¥49.4m | CN¥137.0m | CN¥142.3m | CN¥47.4m | CN¥53.8m |
| Operating income | CN¥24.0m | CN¥73.9m | CN¥8.5m | −CN¥27.8m | CN¥34.3m | CN¥45.5m | −CN¥36.2m | −CN¥25.4m |
| Net income | CN¥12.1m | CN¥42.5m | −CN¥9.3m | −CN¥25.0m | CN¥30.0m | CN¥40.5m | −CN¥45.6m | −CN¥13.6m |
| Diluted earnings per share | 0.11 | 0.38 | -0.08 | -0.22 | 0.27 | 0.36 | -0.44 | -0.13 |
| Cash from operations | — | — | — | CN¥47.0m | CN¥115.0m | −CN¥3.0m | −CN¥77.0m | −CN¥35.0m |
| Capital spending | −CN¥17.0m | −CN¥10.0m | −CN¥6.0m | −CN¥25.0m | −CN¥15.0m | −CN¥21.0m | −CN¥38.0m | −CN¥51.0m |
| Free cash flow | — | — | — | CN¥22.0m | CN¥100.0m | −CN¥24.0m | −CN¥115.0m | −CN¥86.0m |
| Total assets | CN¥1.90bn | CN¥1.95bn | CN¥1.87bn | CN¥1.85bn | CN¥1.89bn | CN¥1.85bn | CN¥1.62bn | CN¥1.53bn |
| Cash and short-term investments | — | — | — | CN¥468.4m | CN¥448.1m | CN¥335.1m | CN¥297.2m | CN¥348.9m |
| Debt | — | — | — | CN¥481.3m | CN¥90.1m | CN¥465.3m | CN¥70.0m | — |
| Shareholders' equity | CN¥1.17bn | CN¥1.17bn | CN¥1.12bn | CN¥1.13bn | CN¥1.15bn | CN¥1.11bn | CN¥1.06bn | CN¥1.11bn |
Financial ratios
Data as of 13 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 25.3% | 24.9% | 24.3% | 20.7% | 19.7% | 26.1% | — | — | — |
| Operating margin | 2.7% | -0.3% | 1.0% | 4.5% | 9.8% | 10.7% | — | — | — |
| Net margin | 2.2% | -1.1% | 1.5% | 4.3% | 8.7% | 8.8% | — | — | — |
| Return on equity | 3.2% | -1.3% | 1.6% | 5.4% | 16.2% | 14.5% | — | — | — |
| Return on assets | 1.9% | -0.9% | 1.2% | 4.3% | 9.2% | 8.8% | — | — | — |
| Free cash flow yield | 2.1% | 4.9% | 3.8% | 5.6% | 9.1% | — | — | — | — |
| Revenue growth | 35.6% | 13.4% | -21.1% | 11.5% | 36.3% | 34.8% | — | — | — |
| Earnings growth | -359.1% | -182.7% | -71.4% | -45.0% | 34.1% | 92.9% | — | — | — |
| Current ratio | 1.85x | 2.08x | 3.74x | 3.47x | 1.57x | 1.88x | — | — | — |
| Debt to equity | — | 0.07x | — | -0.03x | 0.05x | — | -0.10x | 0.05x | 0.10x |
| Equity ratio | 59.9% | 65.1% | 80.6% | 78.8% | 56.6% | 61.2% | — | — | — |
| Interest coverage | 7.76x | -0.75x | 2.41x | 25.40x | 100.31x | 30.09x | — | — | — |
| R&D as a share of sales | 3.2% | 3.7% | 4.2% | 3.6% | 3.3% | 3.3% | — | — | — |
| Buybacks as a share of market value | -9.3% | 16.4% | -22.4% | -20.3% | -1.7% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.7% | 13.0% | 10.5% |
| Operating income | 1.1% | -10.1% | 10.8% |
| Net income | -15.1% | -14.7% | 6.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 25.1% | 23.8% | 23.4% | 23.7% |
| Operating margin | 1.9% | 2.3% | 4.5% | 5.9% |
| Net margin | 0.8% | 1.8% | 3.8% | 5.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 153.7 | -199.2 | 177.8 | 49.1 |
| Price to sales | 3.3 | 2.3 | 2.8 | 2.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 Jun 2024.
| FY2024 | FY2023 | |
|---|---|---|
| Paid in the year | 0.07 | 0.10 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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