N 
1.92
-0.52%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥3.05bn
FY2016FY2025
Net income
CN¥30.9m
FY2016FY2025
Free cash flow
CN¥36.8m
FY2016FY2025
Shareholders' equity
CN¥1.95bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.05bn | CN¥3.80bn | CN¥3.91bn | CN¥3.16bn | CN¥3.02bn | CN¥2.81bn | CN¥3.68bn | CN¥3.84bn | CN¥3.40bn | CN¥2.18bn |
| Gross profit | CN¥879.4m | CN¥1.18bn | CN¥1.17bn | CN¥992.4m | CN¥807.4m | CN¥790.3m | CN¥968.5m | CN¥650.6m | CN¥1.08bn | CN¥783.0m |
| Research and development | CN¥13.4m | CN¥9.9m | CN¥27.7m | CN¥26.4m | CN¥444,481 | CN¥296,937 | CN¥1.3m | CN¥8.3m | CN¥447,640 | CN¥1.0m |
| Operating income | CN¥198.9m | CN¥162.5m | CN¥37.7m | CN¥189.2m | −CN¥408.2m | CN¥149.7m | −CN¥2.09bn | −CN¥918.1m | CN¥504.0m | CN¥446.1m |
| Net income | CN¥30.9m | CN¥114.8m | CN¥29.0m | CN¥156.1m | −CN¥371.4m | −CN¥52.2m | −CN¥2.52bn | −CN¥1.42bn | CN¥202.8m | CN¥403.6m |
| Diluted earnings per share | 0.01 | 0.04 | 0.01 | 0.05 | -0.20 | -0.03 | -1.35 | -0.76 | 0.11 | 0.22 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥6.65bn | CN¥6.68bn | CN¥6.08bn | CN¥5.64bn | CN¥6.69bn | CN¥4.82bn | CN¥4.91bn | CN¥8.76bn | CN¥10.25bn | CN¥5.98bn |
| Cash and short-term investments | — | CN¥478.1m | CN¥580.2m | CN¥558.9m | CN¥2.03bn | CN¥171.7m | CN¥122.3m | CN¥347.3m | CN¥594.4m | CN¥705.4m |
| Total liabilities | CN¥4.64bn | CN¥4.64bn | CN¥3.85bn | CN¥3.88bn | CN¥5.10bn | CN¥4.66bn | CN¥4.70bn | CN¥5.90bn | CN¥5.91bn | CN¥1.81bn |
| Debt | CN¥397.3m | CN¥1.41bn | CN¥1.57bn | CN¥1.58bn | CN¥2.44bn | CN¥2.43bn | CN¥2.85bn | CN¥3.13bn | CN¥3.34bn | CN¥909.9m |
| Shareholders' equity | CN¥1.95bn | CN¥1.98bn | CN¥2.20bn | CN¥1.72bn | CN¥1.55bn | CN¥133.8m | CN¥194.8m | CN¥2.71bn | CN¥4.19bn | CN¥4.08bn |
| Shares outstanding | 3,368m | 2,935m | 2,996m | 3,268m | 1,872m | 1,871m | 1,872m | 1,865m | 1,869m | 1,873m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥293.8m | CN¥438.5m | CN¥291.0m | CN¥268.0m | CN¥277.3m | CN¥283.8m | CN¥549.5m | CN¥522.6m | −CN¥204.8m | −CN¥697.4m |
| Capital spending | −CN¥257.0m | −CN¥307.4m | −CN¥195.2m | −CN¥221.6m | −CN¥198.7m | −CN¥216.6m | −CN¥215.7m | −CN¥220.4m | −CN¥573.6m | −CN¥279.6m |
| Free cash flow | CN¥36.8m | CN¥131.1m | CN¥95.8m | CN¥46.5m | CN¥78.6m | CN¥67.2m | CN¥333.8m | CN¥302.2m | −CN¥778.4m | −CN¥977.0m |
| Dividends paid | −CN¥100.7m | −CN¥118.2m | −CN¥104.0m | −CN¥275.8m | −CN¥54.2m | −CN¥83.9m | −CN¥394.9m | −CN¥324.7m | −CN¥199.2m | −CN¥17.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥687.8m | CN¥720.0m | CN¥795.2m | CN¥668.2m | CN¥791.7m | CN¥796.2m | CN¥1.12bn | CN¥944.6m |
| Gross profit | CN¥192.7m | CN¥219.9m | CN¥270.6m | CN¥160.5m | CN¥224.2m | CN¥222.6m | CN¥407.2m | CN¥262.8m |
| Operating income | CN¥48.7m | CN¥90.5m | CN¥149.3m | −CN¥6.1m | CN¥21.2m | CN¥36.2m | CN¥130.3m | CN¥4.0m |
| Net income | −CN¥11.3m | CN¥20.5m | CN¥66.6m | −CN¥45.9m | −CN¥18.2m | CN¥25.7m | CN¥62.0m | −CN¥6.5m |
| Diluted earnings per share | -0.00 | 0.01 | 0.02 | -0.01 | -0.01 | 0.01 | 0.02 | -0.00 |
| Cash from operations | — | — | — | CN¥9.0m | CN¥179.0m | −CN¥37.0m | — | CN¥37.0m |
| Capital spending | −CN¥35.0m | −CN¥62.0m | −CN¥39.0m | −CN¥54.0m | −CN¥41.0m | −CN¥121.0m | −CN¥61.0m | −CN¥76.0m |
| Free cash flow | — | — | — | −CN¥45.0m | CN¥138.0m | −CN¥158.0m | — | −CN¥39.0m |
| Total assets | CN¥6.65bn | CN¥6.57bn | CN¥6.65bn | CN¥6.55bn | CN¥6.73bn | CN¥6.70bn | CN¥6.68bn | CN¥6.18bn |
| Cash and short-term investments | — | — | — | CN¥314.2m | CN¥476.8m | CN¥420.8m | CN¥478.1m | CN¥438.0m |
| Debt | CN¥378.0m | CN¥433.1m | CN¥397.3m | CN¥1.43bn | CN¥1.44bn | CN¥1.47bn | CN¥1.31bn | CN¥1.23bn |
| Shareholders' equity | CN¥1.98bn | CN¥1.97bn | CN¥1.95bn | CN¥1.97bn | CN¥2.01bn | CN¥2.02bn | CN¥1.98bn | CN¥2.31bn |
Financial ratios
Data as of 9 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 28.8% | 31.0% | 30.0% | 31.4% | 26.8% | 28.2% |
| Operating margin | 6.6% | 7.7% | 3.4% | 10.5% | -4.2% | 5.3% |
| Net margin | 1.0% | 3.0% | 0.7% | 4.9% | -12.3% | -1.9% |
| Return on equity | 1.6% | 5.8% | 1.3% | 9.1% | -23.9% | -39.0% |
| Return on assets | 0.5% | 1.7% | 0.5% | 2.8% | -5.6% | -1.1% |
| Free cash flow yield | 7.8% | 12.0% | 7.7% | 7.1% | 12.1% | 12.7% |
| Revenue growth | -19.6% | -2.9% | 23.8% | 4.8% | 7.5% | -23.8% |
| Earnings growth | -73.0% | 296.1% | -81.4% | -142.0% | 611.0% | -97.9% |
| Current ratio | 0.54x | 0.57x | 0.67x | 0.54x | 0.66x | 0.29x |
| Debt to equity | 0.20x | 0.66x | 0.81x | 0.65x | 1.53x | 13.12x |
| Equity ratio | 29.4% | 29.7% | 36.1% | 30.5% | 23.2% | 2.8% |
| Interest coverage | 1.63x | 2.12x | 1.09x | 2.30x | -0.54x | 1.07x |
| R&D as a share of sales | 0.4% | 0.3% | 0.7% | 0.8% | 0.0% | 0.0% |
| Buybacks as a share of market value | -14.7% | 2.0% | 8.3% | -74.6% | -0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.2% | 1.7% | 10.0% |
| Operating income | 1.7% | 5.8% | -4.9% |
| Net income | -41.7% | — | -20.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.0% | 30.3% | 29.5% | 29.0% |
| Operating margin | 5.3% | 4.2% | 1.7% | -4.1% |
| Net margin | 2.1% | 2.4% | -0.5% | -9.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 232.9 | 67.5 | 313.3 | 82.5 | -13.5 | -46.4 | -1.3 | -3.3 | 79.0 | 40.7 |
| Price to sales | 2.4 | 2.0 | 2.3 | 4.1 | 1.7 | 0.9 | 0.9 | 1.2 | 4.7 | 7.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 Feb 2014.
| FY2014 | FY2012 | FY2011 | FY2010 | FY2009 | |
|---|---|---|---|---|---|
| Paid in the year | 0.029 | 0.004 | 0.006 | 0.007 | 0.007 |
- 1.365-for-1 split · 23 Jun 2022
- 5-for-2 split · 28 Oct 2015
- 7-for-5 split · 28 Feb 2014
- 1.15-for-1 split · 23 May 2012
- 2-for-1 split · 9 Sept 2009
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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