M 
17.49
+2.82%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.76bn
FY2016FY2025
Net income
CN¥54.7m
FY2016FY2025
Free cash flow
CN¥96.4m
FY2016FY2025
Shareholders' equity
CN¥2.03bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.76bn | CN¥2.96bn | CN¥3.62bn | CN¥4.35bn | CN¥3.78bn | CN¥3.59bn | CN¥3.16bn | CN¥3.50bn | CN¥2.46bn | CN¥2.44bn |
| Gross profit | CN¥459.3m | CN¥229.4m | CN¥30.7m | CN¥739.1m | CN¥719.2m | CN¥600.8m | CN¥610.7m | CN¥708.8m | CN¥609.6m | CN¥536.0m |
| Research and development | CN¥127.9m | CN¥115.3m | CN¥135.7m | CN¥175.2m | CN¥199.1m | CN¥147.3m | CN¥126.2m | CN¥134.4m | CN¥53.9m | CN¥39.5m |
| Operating income | CN¥95.5m | −CN¥264.5m | −CN¥453.8m | CN¥220.4m | CN¥182.1m | CN¥102.6m | CN¥72.5m | CN¥180.0m | CN¥133.0m | CN¥77.1m |
| Net income | CN¥54.7m | −CN¥255.1m | −CN¥415.0m | CN¥197.7m | CN¥150.6m | CN¥61.0m | CN¥72.0m | CN¥138.4m | CN¥84.8m | CN¥103.9m |
| Diluted earnings per share | 0.14 | -0.68 | -1.04 | 0.53 | 0.41 | 0.16 | 0.17 | 0.36 | 0.25 | 0.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥5.50bn | CN¥5.84bn | CN¥6.49bn | CN¥7.26bn | CN¥6.22bn | CN¥5.92bn | CN¥5.87bn | CN¥6.04bn | CN¥5.32bn | CN¥4.82bn |
| Cash and short-term investments | — | CN¥890.2m | CN¥978.4m | CN¥1.01bn | CN¥989.2m | CN¥1.02bn | CN¥1.14bn | CN¥1.26bn | CN¥1.24bn | CN¥1.16bn |
| Total liabilities | CN¥3.49bn | CN¥3.90bn | CN¥4.31bn | CN¥4.96bn | CN¥4.02bn | CN¥3.84bn | CN¥3.77bn | CN¥3.54bn | CN¥3.10bn | CN¥2.65bn |
| Debt | CN¥218.6m | CN¥1.67bn | CN¥2.04bn | CN¥2.48bn | CN¥1.81bn | CN¥1.70bn | CN¥1.54bn | CN¥1.36bn | CN¥1.24bn | CN¥1.04bn |
| Shareholders' equity | CN¥2.03bn | CN¥1.94bn | CN¥2.11bn | CN¥2.19bn | CN¥2.08bn | CN¥1.93bn | CN¥2.02bn | CN¥2.09bn | CN¥1.98bn | CN¥1.91bn |
| Shares outstanding | 388m | 376m | 401m | 374m | 370m | 386m | 429m | 385m | 338m | 390m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥251.0m | CN¥27.4m | CN¥414.4m | −CN¥396.4m | CN¥91.2m | CN¥154.3m | CN¥195.5m | CN¥365.5m | CN¥25.6m | CN¥32.4m |
| Capital spending | −CN¥154.5m | −CN¥15.6m | −CN¥271.0m | −CN¥257.9m | −CN¥196.6m | −CN¥87.0m | −CN¥222.7m | −CN¥151.3m | −CN¥109.8m | −CN¥125.9m |
| Free cash flow | CN¥96.4m | CN¥11.8m | CN¥143.3m | −CN¥654.3m | −CN¥105.4m | CN¥67.3m | −CN¥27.2m | CN¥214.2m | −CN¥84.2m | −CN¥93.5m |
| Dividends paid | −CN¥64.7m | −CN¥98.5m | −CN¥81.8m | −CN¥11.4m | −CN¥18.2m | −CN¥11.9m | −CN¥21.1m | −CN¥76.7m | −CN¥65.8m | −CN¥69.4m |
Latest quarters
By quarter end
| Sept 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥746.5m | CN¥736.0m | CN¥724.7m | CN¥798.9m | CN¥717.8m | CN¥624.4m | CN¥622.2m | CN¥873.7m |
| Gross profit | CN¥132.6m | CN¥143.8m | CN¥145.3m | CN¥125.8m | CN¥125.5m | CN¥109.9m | CN¥98.1m | −CN¥49.6m |
| Operating income | CN¥31.8m | CN¥49.6m | CN¥60.7m | −CN¥4.8m | CN¥16.3m | CN¥19.8m | CN¥47.1m | −CN¥216.6m |
| Net income | CN¥11.1m | CN¥20.4m | CN¥24.6m | −CN¥12.5m | CN¥11.4m | CN¥13.5m | CN¥42.3m | −CN¥197.1m |
| Diluted earnings per share | 0.03 | 0.05 | 0.06 | -0.03 | 0.03 | 0.03 | 0.11 | -0.52 |
| Cash from operations | — | — | — | — | CN¥16.0m | −CN¥18.0m | CN¥12.0m | — |
| Capital spending | −CN¥10.0m | −CN¥48.0m | −CN¥34.0m | −CN¥85.0m | −CN¥24.0m | −CN¥40.0m | −CN¥3.0m | −CN¥2.0m |
| Free cash flow | — | — | — | — | −CN¥8.0m | −CN¥58.0m | CN¥9.0m | — |
| Total assets | CN¥5.66bn | CN¥5.61bn | CN¥5.51bn | CN¥5.50bn | CN¥5.51bn | CN¥5.66bn | CN¥5.72bn | CN¥5.84bn |
| Cash and short-term investments | — | — | — | — | CN¥662.8m | CN¥859.6m | CN¥835.5m | CN¥890.2m |
| Debt | CN¥125.2m | CN¥280.1m | CN¥194.3m | CN¥218.6m | CN¥1.90bn | CN¥1.54bn | CN¥1.60bn | CN¥1.66bn |
| Shareholders' equity | CN¥2.06bn | CN¥2.06bn | CN¥2.05bn | CN¥2.03bn | CN¥2.00bn | CN¥1.99bn | CN¥1.98bn | CN¥1.94bn |
Financial ratios
Data as of 1 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 16.6% | 7.7% | 0.8% | 17.0% | 19.0% | 16.7% |
| Operating margin | 3.5% | -6.4% | -10.6% | 5.1% | 4.8% | 5.0% |
| Net margin | 2.0% | -8.6% | -11.5% | 4.5% | 4.0% | 1.7% |
| Return on equity | 2.7% | -13.2% | -19.7% | 9.0% | 7.3% | 3.2% |
| Return on assets | 1.0% | -4.4% | -6.4% | 2.7% | 2.4% | 1.0% |
| Free cash flow yield | 6.7% | 0.7% | 11.0% | -2.4% | 5.0% | 4.0% |
| Revenue growth | -6.7% | -18.1% | -16.9% | 15.2% | 5.2% | 13.8% |
| Earnings growth | -121.4% | -38.5% | -309.9% | 31.2% | 146.8% | -15.2% |
| Current ratio | 1.00x | 1.04x | 1.08x | 1.10x | 1.15x | 1.14x |
| Debt to equity | 0.11x | 0.86x | 0.95x | 1.13x | 0.86x | 0.84x |
| Equity ratio | 36.9% | 33.1% | 32.5% | 30.2% | 33.4% | 32.6% |
| Interest coverage | 1.42x | -2.09x | -3.71x | 2.28x | 2.34x | 2.29x |
| R&D as a share of sales | 4.6% | 3.9% | 3.8% | 4.0% | 5.3% | 4.1% |
| Buybacks as a share of market value | -3.2% | 6.1% | -7.1% | -1.1% | 4.0% | 10.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -14.0% | -5.1% | 2.4% |
| Operating income | -24.3% | -1.4% | 0.0% |
| Net income | -34.8% | -2.2% | -5.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 12.0% | 10.7% | 13.2% | 16.5% |
| Operating margin | -3.0% | -2.9% | -0.6% | 1.3% |
| Net margin | -3.5% | -3.1% | -1.0% | 0.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 160.6 | -22.4 | -14.6 | 26.8 | 59.4 | 64.0 | 45.6 | 21.0 | 67.2 | 54.4 |
| Price to sales | 3.2 | 1.9 | 1.7 | 1.2 | 2.4 | 1.1 | 1.0 | 0.8 | 2.3 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 17 Jul 2026.
| FY2026 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.02 | 0.01 | 0.03 | 0.049 | 0.032 | 0.057 | 0.05 |
- 2-for-1 split · 21 Mar 2008
- 6-for-5 split · 8 Jun 2007
- 8-for-5 split · 23 Jun 2006
- 1-to-1 reverse split · 2 Nov 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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