Z 
23.04
-2.17%
Close of 9 Nov 2026, in CNY
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥447.2m
FY2018FY2025
Net income
CN¥15.4m
FY2018FY2025
Free cash flow
−CN¥111.7m
FY2018FY2025
Shareholders' equity
CN¥891.8m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥447.2m | CN¥341.1m | CN¥311.6m | CN¥353.5m | CN¥381.5m | CN¥325.8m | CN¥194.9m | CN¥128.5m |
| Gross profit | CN¥122.9m | CN¥84.9m | CN¥94.8m | CN¥128.0m | CN¥140.8m | CN¥163.6m | CN¥91.7m | CN¥62.1m |
| Research and development | CN¥35.7m | CN¥25.7m | CN¥25.1m | CN¥23.8m | CN¥21.6m | CN¥22.2m | CN¥13.6m | CN¥9.2m |
| Operating income | CN¥4.5m | CN¥13.5m | CN¥36.2m | CN¥79.2m | CN¥92.5m | CN¥110.6m | CN¥46.7m | CN¥22.0m |
| Net income | CN¥15.4m | CN¥13.2m | CN¥33.0m | CN¥69.3m | CN¥76.0m | CN¥87.2m | CN¥36.7m | CN¥18.7m |
| Diluted earnings per share | 0.19 | 0.18 | 0.40 | 0.96 | 1.28 | 1.10 | 0.46 | 0.23 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.27bn | CN¥1.20bn | CN¥931.6m | CN¥1000.0m | CN¥673.7m | CN¥508.0m | CN¥342.2m | CN¥235.0m |
| Cash and short-term investments | — | CN¥95.8m | CN¥122.2m | CN¥273.0m | CN¥112.6m | CN¥92.5m | CN¥17.0m | CN¥17.6m |
| Total liabilities | CN¥385.6m | CN¥453.0m | CN¥167.5m | CN¥220.9m | CN¥298.0m | CN¥214.3m | CN¥192.6m | CN¥127.5m |
| Debt | CN¥25.9m | CN¥201.8m | CN¥11.0m | CN¥21.7m | CN¥99.7m | CN¥80.9m | CN¥85.0m | CN¥69.9m |
| Shareholders' equity | CN¥891.8m | CN¥725.0m | CN¥748.9m | CN¥734.0m | CN¥331.9m | CN¥255.2m | CN¥149.6m | CN¥107.5m |
| Shares outstanding | 80m | 73m | 82m | 72m | 59m | 80m | 80m | 80m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥33.4m | CN¥32.7m | CN¥26.0m | −CN¥26.7m | CN¥47.3m | CN¥169.3m | CN¥2.3m | CN¥24.9m |
| Capital spending | −CN¥145.1m | −CN¥170.8m | −CN¥116.1m | −CN¥33.6m | −CN¥54.0m | −CN¥60.6m | −CN¥1.0m | −CN¥2.4m |
| Free cash flow | −CN¥111.7m | −CN¥138.1m | −CN¥90.1m | −CN¥60.2m | −CN¥6.6m | CN¥108.7m | CN¥1.3m | CN¥22.5m |
| Dividends paid | −CN¥10.5m | −CN¥9.0m | −CN¥21.2m | −CN¥5.4m | −CN¥4.2m | −CN¥35.3m | −CN¥3.6m | −CN¥41.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥136.9m | CN¥126.0m | CN¥114.7m | CN¥136.1m | CN¥104.3m | CN¥92.1m | CN¥89.2m | CN¥111.2m |
| Gross profit | CN¥40.4m | CN¥28.9m | CN¥23.3m | CN¥41.0m | CN¥32.7m | CN¥26.0m | CN¥20.6m | CN¥35.2m |
| Operating income | CN¥8.7m | −CN¥2.9m | −CN¥13.5m | −CN¥1.5m | CN¥4.8m | CN¥3.9m | CN¥2.6m | CN¥9.4m |
| Net income | CN¥2.6m | −CN¥1.6m | CN¥8.2m | −CN¥1.4m | CN¥5.7m | CN¥2.9m | CN¥834,114 | CN¥11.5m |
| Diluted earnings per share | 0.03 | -0.02 | 0.10 | -0.02 | 0.07 | 0.04 | 0.01 | 0.16 |
| Cash from operations | — | — | — | −CN¥16.0m | CN¥42.0m | −CN¥29.0m | −CN¥21.0m | CN¥2.0m |
| Capital spending | −CN¥1.0m | −CN¥5.0m | −CN¥8.0m | −CN¥31.0m | −CN¥58.0m | −CN¥47.0m | −CN¥13.0m | −CN¥70.0m |
| Free cash flow | — | — | — | −CN¥47.0m | −CN¥16.0m | −CN¥76.0m | −CN¥34.0m | −CN¥68.0m |
| Total assets | CN¥1.30bn | CN¥1.30bn | CN¥1.27bn | CN¥1.40bn | CN¥1.34bn | CN¥1.23bn | CN¥1.20bn | CN¥1.10bn |
| Cash and short-term investments | — | — | — | CN¥53.7m | CN¥80.4m | CN¥34.6m | CN¥95.8m | CN¥56.9m |
| Debt | CN¥500,000 | CN¥500,000 | CN¥25.9m | CN¥147.2m | CN¥284.0m | CN¥209.5m | CN¥201.8m | CN¥124.1m |
| Shareholders' equity | CN¥922.7m | CN¥901.5m | CN¥891.8m | CN¥738.6m | CN¥731.0m | CN¥727.3m | CN¥725.0m | CN¥724.8m |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 27.5% | 24.9% | 30.4% | 36.2% | 36.9% | 50.2% |
| Operating margin | 3.2% | 5.0% | 12.1% | 23.5% | 25.3% | 34.4% |
| Net margin | 3.4% | 3.9% | 10.6% | 19.6% | 19.9% | 26.8% |
| Return on equity | 1.7% | 1.8% | 4.4% | 9.4% | 22.9% | 34.2% |
| Return on assets | 1.2% | 1.1% | 3.5% | 6.9% | 11.3% | 17.2% |
| Free cash flow yield | 8.5% | 10.7% | 6.6% | 0.4% | 6.5% | — |
| Revenue growth | 31.1% | 9.5% | -11.9% | -7.3% | 17.1% | 67.2% |
| Earnings growth | 16.1% | -59.9% | -52.4% | -8.8% | -12.9% | 138.0% |
| Current ratio | 2.09x | 1.54x | 3.46x | 3.59x | 2.54x | 1.83x |
| Debt to equity | 0.03x | 0.28x | 0.01x | 0.01x | 0.31x | 0.32x |
| Equity ratio | 70.0% | 60.6% | 80.4% | 73.4% | 49.3% | 50.2% |
| Interest coverage | 3.48x | 6.65x | 51.49x | 21.59x | 23.40x | 18.80x |
| R&D as a share of sales | 8.0% | 7.5% | 8.1% | 6.7% | 5.7% | 6.8% |
| Buybacks as a share of market value | -9.6% | 11.3% | -13.0% | -21.9% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.1% | 6.5% | — |
| Operating income | -61.5% | -47.3% | — |
| Net income | -39.5% | -29.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 26.4% | 29.6% | 34.0% | — |
| Operating margin | 2.3% | 9.2% | 15.6% | — |
| Net margin | 3.6% | 9.0% | 13.6% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 165.8 | 155.8 | 90.1 | 35.0 |
| Price to sales | 5.7 | 6.0 | 9.5 | 6.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 15 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Paid in the year | 0.04 | 0.04 | 0.086 | 0.26 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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