Z 
4.61
-0.43%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥9.38bn
FY2016FY2025
Net income
CN¥49.0m
FY2016FY2025
Free cash flow
−CN¥595.8m
FY2016FY2025
Shareholders' equity
CN¥6.44bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥9.38bn | CN¥11.24bn | CN¥13.00bn | CN¥12.06bn | CN¥11.29bn | CN¥9.26bn | CN¥8.98bn | CN¥8.69bn | CN¥7.79bn | CN¥5.74bn |
| Gross profit | CN¥857.8m | CN¥1.16bn | CN¥1.47bn | CN¥1.42bn | CN¥1.48bn | CN¥1.07bn | CN¥1.03bn | CN¥921.4m | CN¥873.7m | CN¥646.2m |
| Research and development | CN¥354.5m | CN¥445.8m | CN¥477.3m | CN¥459.3m | CN¥402.6m | CN¥329.8m | CN¥401.0m | CN¥397.3m | CN¥341.1m | CN¥156.0m |
| Operating income | CN¥204.2m | CN¥242.0m | CN¥388.4m | CN¥366.9m | CN¥555.4m | CN¥332.7m | CN¥281.7m | CN¥189.1m | CN¥111.4m | CN¥50.8m |
| Net income | CN¥49.0m | CN¥190.5m | CN¥329.3m | CN¥290.7m | CN¥492.9m | CN¥270.8m | CN¥267.5m | CN¥170.7m | CN¥103.6m | CN¥49.1m |
| Diluted earnings per share | 0.05 | 0.14 | 0.26 | 0.24 | 0.48 | 0.25 | 0.25 | 0.21 | 0.11 | 0.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥19.47bn | CN¥19.62bn | CN¥18.39bn | CN¥17.52bn | CN¥17.15bn | CN¥13.65bn | CN¥11.44bn | CN¥10.33bn | CN¥10.08bn | CN¥8.60bn |
| Cash and short-term investments | — | CN¥2.36bn | CN¥1.37bn | CN¥1.62bn | CN¥2.73bn | CN¥1.56bn | CN¥1.17bn | CN¥1.14bn | CN¥1.48bn | CN¥704.5m |
| Total liabilities | CN¥12.97bn | CN¥13.07bn | CN¥11.95bn | CN¥11.29bn | CN¥10.65bn | CN¥8.80bn | CN¥7.04bn | CN¥6.28bn | CN¥6.17bn | CN¥6.14bn |
| Debt | CN¥2.72bn | CN¥5.41bn | CN¥4.73bn | CN¥3.37bn | CN¥3.37bn | CN¥2.55bn | CN¥1.96bn | CN¥1.81bn | CN¥1.65bn | CN¥2.39bn |
| Shareholders' equity | CN¥6.44bn | CN¥6.50bn | CN¥6.40bn | CN¥6.19bn | CN¥6.02bn | CN¥4.38bn | CN¥4.28bn | CN¥4.03bn | CN¥3.88bn | CN¥2.43bn |
| Shares outstanding | 947m | 1,330m | 1,288m | 1,228m | 1,026m | 1,097m | 1,052m | 809m | 944m | 810m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥366.7m | CN¥1.09bn | −CN¥1.59bn | −CN¥1.17bn | −CN¥440.3m | CN¥444.5m | CN¥320.2m | −CN¥38.7m | CN¥379.0m | CN¥39.6m |
| Capital spending | −CN¥229.1m | −CN¥116.0m | −CN¥309.0m | −CN¥219.0m | −CN¥329.6m | −CN¥892.9m | −CN¥519.6m | −CN¥142.8m | −CN¥123.2m | −CN¥98.8m |
| Free cash flow | −CN¥595.8m | CN¥971.7m | −CN¥1.90bn | −CN¥1.39bn | −CN¥769.9m | −CN¥448.4m | −CN¥199.4m | −CN¥181.5m | CN¥255.8m | −CN¥59.2m |
| Dividends paid | −CN¥172.0m | −CN¥213.1m | −CN¥253.2m | −CN¥115.0m | −CN¥27.5m | −CN¥27.9m | −CN¥17.6m | −CN¥96.7m | −CN¥114.1m | −CN¥135.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.01bn | CN¥1.90bn | CN¥2.67bn | CN¥2.18bn | CN¥2.10bn | CN¥2.44bn | CN¥2.15bn | CN¥2.85bn |
| Gross profit | CN¥188.0m | CN¥135.0m | CN¥272.9m | CN¥225.6m | CN¥220.3m | CN¥139.1m | CN¥425.5m | CN¥237.7m |
| Operating income | CN¥82.6m | CN¥632,232 | CN¥17.1m | CN¥32.8m | CN¥24.6m | CN¥58.5m | CN¥35.2m | CN¥42.8m |
| Net income | CN¥13.4m | CN¥15.3m | −CN¥1.9m | CN¥8.8m | −CN¥4.7m | CN¥46.9m | CN¥27.1m | CN¥34.5m |
| Diluted earnings per share | 0.01 | 0.02 | -0.00 | 0.01 | -0.01 | 0.05 | 0.02 | 0.03 |
| Cash from operations | — | — | — | −CN¥890.0m | −CN¥1.07bn | −CN¥18.0m | — | CN¥360.0m |
| Capital spending | −CN¥96.0m | −CN¥121.0m | −CN¥120.0m | −CN¥61.0m | −CN¥27.0m | −CN¥19.0m | −CN¥13.0m | −CN¥40.0m |
| Free cash flow | — | — | — | −CN¥951.0m | −CN¥1.10bn | −CN¥37.0m | — | CN¥320.0m |
| Total assets | CN¥16.34bn | CN¥17.68bn | CN¥19.47bn | CN¥21.55bn | CN¥20.69bn | CN¥20.42bn | CN¥19.62bn | CN¥20.20bn |
| Cash and short-term investments | — | — | — | CN¥2.14bn | CN¥2.91bn | CN¥3.14bn | CN¥2.36bn | CN¥1.95bn |
| Debt | CN¥2.37bn | CN¥2.48bn | CN¥2.72bn | CN¥6.02bn | CN¥7.27bn | CN¥6.21bn | CN¥5.41bn | CN¥5.73bn |
| Shareholders' equity | CN¥6.34bn | CN¥6.35bn | CN¥6.44bn | CN¥6.47bn | CN¥6.46bn | CN¥6.55bn | CN¥6.50bn | CN¥6.51bn |
Financial ratios
Data as of 11 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 11.9% | 10.3% | 11.3% | 11.8% | 13.1% | 11.5% |
| Operating margin | 2.9% | 3.8% | 4.0% | 4.2% | 6.1% | 4.5% |
| Net margin | 0.5% | 1.7% | 2.5% | 2.4% | 4.4% | 2.9% |
| Return on equity | 0.8% | 2.9% | 5.1% | 4.7% | 8.2% | 6.2% |
| Return on assets | 0.3% | 1.0% | 1.8% | 1.7% | 2.9% | 2.0% |
| Free cash flow yield | -2.4% | 15.0% | -16.6% | -12.9% | -1.8% | 20.3% |
| Revenue growth | -16.6% | -13.5% | 7.8% | 6.9% | 21.9% | 3.1% |
| Earnings growth | -74.3% | -42.2% | 13.3% | -41.0% | 82.0% | 1.2% |
| Current ratio | 1.61x | 1.54x | 1.34x | 1.41x | 1.28x | 1.14x |
| Debt to equity | 0.42x | 0.83x | 0.80x | 0.54x | 0.55x | 0.58x |
| Equity ratio | 33.1% | 33.1% | 34.8% | 35.3% | 35.1% | 32.1% |
| Interest coverage | 1.61x | 2.33x | 3.25x | 3.82x | 4.60x | 5.10x |
| R&D as a share of sales | 3.8% | 4.0% | 3.7% | 3.8% | 3.6% | 3.6% |
| Buybacks as a share of market value | 28.8% | -3.2% | -4.9% | -19.7% | 6.4% | -4.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.1% | 0.3% | 6.1% |
| Operating income | -17.7% | -9.3% | 15.1% |
| Net income | -44.8% | -29.0% | 3.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 9.8% | 10.7% | 11.3% | 11.2% |
| Operating margin | 2.2% | 2.6% | 3.2% | 2.7% |
| Net margin | 1.2% | 1.9% | 2.5% | 2.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 87.8 | 29.7 | 22.6 | 26.3 | 24.1 | 25.5 | 21.4 | 23.5 | 65.6 | 120.1 |
| Price to sales | 0.5 | 0.5 | 0.6 | 0.6 | 1.1 | 0.8 | 0.6 | 0.5 | 0.9 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 18 years. Last went ex-dividend on 4 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.07 | 0.10 | 0.10 | 0.10 | 0.027 | 0.027 | 0.017 |
- 3-for-2 split · 8 Apr 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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