Z 
2.72
-1.45%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥496.6m
FY2016FY2025
Net income
CN¥42.5m
FY2016FY2025
Free cash flow
CN¥1.1m
FY2016FY2025
Shareholders' equity
CN¥1.19bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥496.6m | CN¥346.3m | CN¥331.1m | CN¥301.3m | CN¥339.9m | CN¥414.5m | CN¥431.3m | CN¥603.6m | CN¥654.1m | CN¥636.1m |
| Gross profit | CN¥140.4m | CN¥90.5m | CN¥97.4m | CN¥82.5m | CN¥100.6m | CN¥140.3m | CN¥156.4m | CN¥217.8m | CN¥232.9m | CN¥223.8m |
| Research and development | CN¥13.2m | CN¥9.2m | CN¥11.0m | CN¥8.2m | CN¥8.1m | CN¥12.5m | CN¥11.0m | CN¥13.5m | CN¥15.3m | CN¥18.2m |
| Operating income | — | −CN¥139.9m | −CN¥94.5m | CN¥83.9m | −CN¥372.9m | CN¥203.3m | −CN¥154.0m | −CN¥74.6m | CN¥175.5m | CN¥135.6m |
| Net income | CN¥42.5m | −CN¥143.4m | −CN¥84.8m | −CN¥22.7m | −CN¥496.9m | CN¥55.6m | −CN¥307.3m | −CN¥200.7m | CN¥153.6m | CN¥115.9m |
| Diluted earnings per share | 0.02 | -0.05 | -0.03 | -0.01 | -0.27 | 0.03 | -0.09 | -0.20 | 0.07 | 0.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.79bn | CN¥1.59bn | CN¥1.82bn | CN¥1.96bn | CN¥2.10bn | CN¥2.77bn | CN¥2.75bn | CN¥3.09bn | CN¥3.86bn | CN¥3.35bn |
| Cash and short-term investments | — | CN¥45.3m | CN¥48.0m | CN¥172.8m | CN¥111.1m | CN¥48.6m | CN¥47.9m | CN¥67.2m | CN¥744.9m | CN¥970.7m |
| Total liabilities | CN¥579.5m | CN¥439.2m | CN¥399.2m | CN¥728.1m | CN¥845.1m | CN¥1.08bn | CN¥1.08bn | CN¥1.14bn | CN¥1.54bn | CN¥1.11bn |
| Debt | — | CN¥30.8m | CN¥27.3m | CN¥43.8m | CN¥90.1m | CN¥638.8m | CN¥685.7m | CN¥307.7m | CN¥1.16bn | CN¥425.5m |
| Shareholders' equity | CN¥1.19bn | CN¥1.11bn | CN¥1.28bn | CN¥1.20bn | CN¥1.22bn | CN¥1.67bn | CN¥1.65bn | CN¥1.92bn | CN¥2.28bn | CN¥2.22bn |
| Shares outstanding | 2,100m | 2,841m | 2,479m | 2,349m | 1,868m | 1,677m | 3,238m | 992m | 2,214m | 2,272m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥17.9m | CN¥901,254 | CN¥19.3m | CN¥15.3m | −CN¥48.5m | CN¥93.7m | CN¥102.9m | CN¥186.4m | CN¥174.5m | CN¥142.3m |
| Capital spending | −CN¥16.9m | −CN¥24.8m | −CN¥21.7m | −CN¥27.7m | −CN¥89.9m | −CN¥34.0m | −CN¥44.7m | −CN¥207.0m | −CN¥463.8m | −CN¥627.9m |
| Free cash flow | CN¥1.1m | −CN¥23.9m | −CN¥2.4m | −CN¥12.4m | −CN¥138.4m | CN¥59.7m | CN¥58.2m | −CN¥20.6m | −CN¥289.3m | −CN¥485.6m |
| Dividends paid | −CN¥16.5m | −CN¥26.9m | −CN¥79.2m | −CN¥63.2m | −CN¥65.5m | −CN¥122.6m | −CN¥168.3m | −CN¥246.9m | −CN¥137.0m | −CN¥42.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥124.1m | CN¥85.3m | CN¥174.4m | CN¥113.9m | CN¥138.4m | CN¥69.8m | CN¥106.7m | CN¥79.4m |
| Gross profit | CN¥38.0m | CN¥21.0m | CN¥44.9m | CN¥39.4m | CN¥36.0m | CN¥20.0m | CN¥18.7m | CN¥28.1m |
| Operating income | CN¥7.3m | −CN¥15.3m | CN¥42.5m | CN¥11.2m | CN¥9.9m | CN¥689,425 | −CN¥54.4m | −CN¥70.9m |
| Net income | −CN¥7.0m | CN¥10.7m | CN¥37.6m | CN¥1.8m | CN¥699,783 | CN¥2.4m | −CN¥54.2m | −CN¥91.3m |
| Diluted earnings per share | -0.00 | 0.01 | 0.02 | 0.00 | 0.00 | 0.00 | -0.02 | -0.03 |
| Cash from operations | — | — | — | CN¥42.0m | −CN¥6.0m | −CN¥35.0m | — | −CN¥13.0m |
| Capital spending | −CN¥4.0m | −CN¥57.0m | −CN¥6.0m | −CN¥5.0m | −CN¥1.0m | −CN¥3.0m | −CN¥6.0m | −CN¥3.0m |
| Free cash flow | — | — | — | CN¥37.0m | −CN¥7.0m | −CN¥38.0m | — | −CN¥16.0m |
| Total assets | CN¥2.25bn | CN¥1.92bn | CN¥1.79bn | CN¥1.69bn | CN¥1.71bn | CN¥1.60bn | CN¥1.59bn | CN¥1.61bn |
| Cash and short-term investments | — | — | — | CN¥129.6m | CN¥114.0m | CN¥52.8m | CN¥45.3m | CN¥34.7m |
| Debt | CN¥16.0m | — | — | CN¥66.3m | CN¥31.5m | CN¥34.9m | CN¥10.0m | CN¥2.8m |
| Shareholders' equity | CN¥1.36bn | CN¥1.21bn | CN¥1.19bn | CN¥1.13bn | CN¥1.18bn | CN¥1.11bn | CN¥1.11bn | CN¥1.17bn |
Financial ratios
Data as of 11 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 28.3% | 26.1% | 29.4% | 27.4% | 29.6% | 33.9% | — | — |
| Operating margin | 15.1% | -28.7% | -9.7% | 25.5% | -109.7% | 49.1% | — | — |
| Net margin | 8.6% | -41.4% | -25.6% | -7.5% | -146.2% | 13.4% | — | — |
| Return on equity | 3.6% | -13.0% | -6.6% | -1.9% | -40.9% | 3.3% | — | — |
| Return on assets | 2.4% | -9.0% | -4.7% | -1.2% | -23.7% | 2.0% | — | — |
| Free cash flow yield | 0.5% | 0.3% | 0.5% | 0.6% | 0.7% | 2.4% | — | — |
| Revenue growth | 43.4% | 4.6% | 9.9% | -11.3% | -18.0% | -3.9% | — | — |
| Earnings growth | -129.7% | 69.0% | 274.1% | -95.4% | -992.9% | -118.1% | — | — |
| Current ratio | 2.26x | 3.21x | 2.43x | 0.99x | 0.80x | 0.68x | — | — |
| Debt to equity | — | 0.01x | — | 0.00x | 0.03x | 0.03x | 0.43x | 0.22x |
| Equity ratio | 66.4% | 69.5% | 70.2% | 61.4% | 58.0% | 60.3% | — | — |
| Interest coverage | 3.80x | -3.33x | -0.73x | 0.91x | -2.86x | 1.39x | — | — |
| R&D as a share of sales | 2.7% | 2.7% | 3.3% | 2.7% | 2.4% | 3.0% | — | — |
| Buybacks as a share of market value | 26.1% | -14.6% | -5.5% | -25.8% | -11.4% | 48.2% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 18.1% | 3.7% | -0.2% |
| Net income | — | -5.2% | -1.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 27.4% | 27.8% | 29.2% | 32.9% |
| Net margin | -12.0% | -14.1% | -29.1% | -16.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 172.3 | -49.9 | -80.1 | -247.6 | -17.9 | 33.5 | -27.3 | -14.6 | 60.8 | 125.8 |
| Price to sales | 14.8 | 20.7 | 20.5 | 18.6 | 26.2 | 4.5 | 19.4 | 4.8 | 14.3 | 22.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 Apr 2018.
| FY2018 | FY2017 | FY2015 | FY2014 | FY2013 | FY2012 | FY2009 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.075 | 0.05 | 0.015 | 0.009 | 0.005 | 0.01 | 0.031 |
- 4-for-1 split · 27 Sept 2016
- 3-for-2 split · 17 May 2010
- 8-for-5 split · 19 May 2009
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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