S 
43.58
+1.07%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥3.02bn
FY2016FY2025
Net income
CN¥260.3m
FY2016FY2025
Free cash flow
−CN¥849.5m
FY2016FY2025
Shareholders' equity
CN¥4.37bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.02bn | CN¥2.66bn | CN¥2.78bn | CN¥3.44bn | CN¥3.33bn | CN¥2.36bn | CN¥2.09bn | CN¥2.07bn | CN¥1.49bn | CN¥1.39bn |
| Gross profit | CN¥1.03bn | CN¥923.9m | CN¥897.4m | CN¥801.3m | CN¥626.4m | CN¥488.6m | CN¥468.0m | CN¥484.5m | CN¥426.4m | CN¥319.4m |
| Research and development | CN¥256.1m | CN¥221.0m | CN¥223.1m | CN¥412.8m | CN¥385.2m | CN¥222.8m | CN¥221.7m | CN¥162.5m | CN¥50.5m | CN¥62.5m |
| Operating income | CN¥413.5m | CN¥333.5m | CN¥212.0m | CN¥202.4m | CN¥154.1m | CN¥109.1m | CN¥90.3m | CN¥106.0m | CN¥76.0m | CN¥162.7m |
| Net income | CN¥260.3m | CN¥279.8m | CN¥258.8m | CN¥233.2m | CN¥127.4m | CN¥62.3m | CN¥27.5m | CN¥22.9m | CN¥16.4m | CN¥95.6m |
| Diluted earnings per share | 0.49 | 0.53 | 0.49 | 0.44 | 0.24 | 0.12 | 0.05 | 0.04 | 0.04 | 0.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥8.02bn | CN¥6.19bn | CN¥5.17bn | CN¥5.25bn | CN¥4.93bn | CN¥4.75bn | CN¥4.62bn | CN¥4.61bn | CN¥3.74bn | CN¥3.88bn |
| Cash and short-term investments | — | CN¥1.16bn | CN¥830.7m | CN¥746.8m | CN¥727.8m | CN¥831.4m | CN¥775.2m | CN¥1.10bn | CN¥465.8m | CN¥524.0m |
| Total liabilities | CN¥2.37bn | CN¥2.44bn | CN¥1.79bn | CN¥2.06bn | CN¥1.91bn | CN¥1.83bn | CN¥1.77bn | CN¥1.78bn | CN¥1.52bn | CN¥1.63bn |
| Debt | CN¥592.3m | CN¥611.2m | CN¥749.9m | CN¥363.7m | CN¥824.5m | CN¥815.7m | CN¥922.1m | CN¥1.07bn | CN¥806.6m | CN¥798.1m |
| Shareholders' equity | CN¥4.37bn | CN¥3.48bn | CN¥3.27bn | CN¥3.10bn | CN¥2.88bn | CN¥2.77bn | CN¥2.70bn | CN¥2.68bn | CN¥2.10bn | CN¥2.13bn |
| Shares outstanding | 534m | 526m | 528m | 533m | 524m | 525m | 543m | 519m | 393m | 353m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥222.6m | CN¥254.2m | CN¥364.5m | CN¥291.4m | CN¥185.0m | CN¥380.8m | CN¥70.2m | −CN¥65.2m | CN¥139.6m | −CN¥28.9m |
| Capital spending | −CN¥626.9m | −CN¥391.8m | −CN¥213.1m | −CN¥224.5m | −CN¥217.9m | −CN¥144.1m | −CN¥172.1m | −CN¥101.9m | −CN¥175.0m | −CN¥53.4m |
| Free cash flow | −CN¥849.5m | −CN¥137.6m | CN¥151.4m | CN¥66.9m | −CN¥32.8m | CN¥236.7m | −CN¥101.8m | −CN¥167.1m | −CN¥35.4m | −CN¥82.3m |
| Dividends paid | −CN¥132.3m | −CN¥126.4m | −CN¥120.5m | −CN¥85.6m | −CN¥23.6m | −CN¥42.1m | −CN¥7.3m | −CN¥48.3m | −CN¥40.8m | −CN¥29.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥893.4m | CN¥642.0m | CN¥723.0m | CN¥687.9m | CN¥904.8m | CN¥703.2m | CN¥852.3m | CN¥520.4m |
| Gross profit | CN¥340.4m | CN¥191.3m | CN¥232.5m | CN¥272.3m | CN¥315.0m | CN¥209.6m | CN¥260.0m | CN¥178.9m |
| Operating income | CN¥168.0m | CN¥30.6m | CN¥89.5m | CN¥55.0m | CN¥124.2m | CN¥53.1m | CN¥97.2m | CN¥32.1m |
| Net income | CN¥58.1m | −CN¥9.1m | CN¥54.2m | CN¥31.7m | CN¥86.0m | CN¥88.5m | CN¥75.3m | CN¥27.0m |
| Diluted earnings per share | 0.11 | -0.02 | 0.10 | 0.06 | 0.16 | 0.17 | 0.14 | 0.05 |
| Cash from operations | — | — | — | −CN¥190.0m | −CN¥275.0m | −CN¥265.0m | CN¥296.0m | CN¥36.0m |
| Capital spending | −CN¥116.0m | −CN¥160.0m | −CN¥212.0m | −CN¥219.0m | −CN¥102.0m | −CN¥93.0m | −CN¥198.0m | −CN¥75.0m |
| Free cash flow | — | — | — | −CN¥409.0m | −CN¥377.0m | −CN¥358.0m | CN¥98.0m | −CN¥39.0m |
| Total assets | CN¥8.09bn | CN¥8.14bn | CN¥8.02bn | CN¥7.78bn | CN¥7.85bn | CN¥8.19bn | CN¥6.19bn | CN¥5.61bn |
| Cash and short-term investments | — | — | — | CN¥1.17bn | CN¥1.73bn | CN¥2.52bn | CN¥1.16bn | CN¥551.5m |
| Debt | CN¥597.9m | CN¥617.5m | CN¥592.3m | CN¥558.0m | CN¥668.1m | CN¥821.2m | CN¥601.7m | CN¥804.4m |
| Shareholders' equity | CN¥4.33bn | CN¥4.36bn | CN¥4.37bn | CN¥4.33bn | CN¥4.30bn | CN¥4.29bn | CN¥3.48bn | CN¥3.39bn |
Financial ratios
Data as of 24 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 34.1% | 34.8% | 32.2% | 23.3% | 18.8% | 20.7% |
| Operating margin | 13.7% | 12.6% | 7.6% | 5.9% | 4.6% | 4.6% |
| Net margin | 8.6% | 10.5% | 9.3% | 6.8% | 3.8% | 2.6% |
| Return on equity | 6.0% | 8.0% | 7.9% | 7.5% | 4.4% | 2.2% |
| Return on assets | 3.2% | 4.5% | 5.0% | 4.4% | 2.6% | 1.3% |
| Free cash flow yield | 1.2% | 1.9% | 1.7% | 1.5% | 1.2% | 1.6% |
| Revenue growth | 13.6% | -4.5% | -19.0% | 3.2% | 41.3% | 12.9% |
| Earnings growth | -7.0% | 8.1% | 11.0% | 83.1% | 104.6% | 126.4% |
| Current ratio | 2.91x | 1.87x | 2.20x | 1.63x | 2.15x | 1.95x |
| Debt to equity | 0.14x | 0.17x | 0.22x | 0.11x | 0.28x | 0.28x |
| Equity ratio | 54.5% | 56.2% | 63.3% | 58.9% | 58.6% | 58.4% |
| Interest coverage | 19.16x | 16.87x | 7.86x | 6.71x | 5.48x | 3.54x |
| R&D as a share of sales | 8.5% | 8.3% | 8.0% | 12.0% | 11.6% | 9.5% |
| Buybacks as a share of market value | -1.7% | 0.3% | 1.0% | -1.6% | 0.0% | 3.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.2% | 5.1% | 21.7% |
| Operating income | 26.9% | 30.5% | — |
| Net income | 3.7% | 33.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 34.4% | 30.7% | 27.1% | 25.6% |
| Operating margin | 13.2% | 9.8% | 8.1% | 6.6% |
| Net margin | 9.5% | 8.7% | 7.0% | 4.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 88.6 | 26.3 | 23.5 | 25.3 | 61.3 | 84.8 | 133.3 | 143.8 | 223.7 | 43.3 |
| Price to sales | 7.6 | 2.8 | 2.2 | 1.7 | 2.3 | 2.2 | 1.8 | 1.6 | 2.5 | 3.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 9 years. Last went ex-dividend on 16 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.196 | 0.21 | 0.20 | 0.177 | 0.101 | 0.045 | 0.016 | 0.014 |
- 2-for-1 split · 27 Jun 2012
- 5-for-4 split · 28 May 2007
- 6-for-5 split · 29 May 2006
- 1-to-1 reverse split · 10 Nov 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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