A 
9.27
-1.38%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.47bn
FY2016FY2025
Net income
CN¥71.9m
FY2016FY2025
Free cash flow
CN¥99.8m
FY2016FY2025
Shareholders' equity
CN¥2.95bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.47bn | CN¥2.72bn | CN¥2.74bn | CN¥2.66bn | CN¥2.64bn | CN¥2.37bn | CN¥2.73bn | CN¥2.84bn | CN¥3.64bn | CN¥3.36bn |
| Gross profit | CN¥1.08bn | CN¥1.08bn | CN¥988.5m | CN¥765.2m | CN¥631.2m | CN¥704.5m | CN¥1.24bn | CN¥971.4m | CN¥1.55bn | CN¥1.64bn |
| Research and development | CN¥182.6m | CN¥182.3m | CN¥150.7m | CN¥169.6m | CN¥195.9m | CN¥191.9m | CN¥191.3m | CN¥301.2m | CN¥313.4m | CN¥229.3m |
| Operating income | CN¥175.0m | −CN¥267.7m | CN¥96.7m | −CN¥190.7m | −CN¥472.0m | −CN¥467.3m | CN¥82.8m | −CN¥644.2m | −CN¥25.6m | CN¥432.2m |
| Net income | CN¥71.9m | −CN¥285.3m | CN¥93.6m | −CN¥171.4m | −CN¥417.1m | −CN¥450.3m | CN¥120.1m | −CN¥1.63bn | CN¥90.1m | CN¥498.4m |
| Diluted earnings per share | 0.05 | -0.19 | 0.05 | -0.14 | -0.28 | -0.34 | 0.09 | -1.20 | 0.07 | 0.38 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.13bn | CN¥4.38bn | CN¥5.01bn | CN¥5.51bn | CN¥5.74bn | CN¥5.50bn | CN¥6.24bn | CN¥6.69bn | CN¥8.36bn | CN¥8.37bn |
| Cash and short-term investments | — | CN¥567.6m | CN¥586.0m | CN¥831.2m | CN¥916.6m | CN¥576.2m | CN¥550.8m | CN¥780.6m | CN¥669.3m | CN¥793.6m |
| Total liabilities | CN¥1.17bn | CN¥1.36bn | CN¥1.66bn | CN¥2.21bn | CN¥2.47bn | CN¥2.25bn | CN¥2.15bn | CN¥2.69bn | CN¥3.45bn | CN¥3.48bn |
| Debt | CN¥36.0m | CN¥674.2m | CN¥929.7m | CN¥1.30bn | CN¥1.61bn | CN¥1.47bn | CN¥1.42bn | CN¥1.97bn | CN¥1.97bn | CN¥1.76bn |
| Shareholders' equity | CN¥2.95bn | CN¥3.01bn | CN¥3.33bn | CN¥3.27bn | CN¥3.24bn | CN¥3.22bn | CN¥4.03bn | CN¥3.92bn | CN¥4.77bn | CN¥4.80bn |
| Shares outstanding | 1,476m | 1,490m | 1,810m | 1,256m | 1,488m | 1,333m | 1,334m | 1,356m | 1,308m | 1,322m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥137.9m | CN¥250.5m | CN¥196.7m | CN¥147.6m | −CN¥41.1m | CN¥124.7m | CN¥280.9m | CN¥73.3m | CN¥151.9m | CN¥186.0m |
| Capital spending | −CN¥38.1m | −CN¥33.1m | −CN¥44.2m | −CN¥88.5m | −CN¥90.7m | −CN¥83.7m | −CN¥75.6m | −CN¥66.7m | −CN¥125.4m | −CN¥317.8m |
| Free cash flow | CN¥99.8m | CN¥217.4m | CN¥152.6m | CN¥59.1m | −CN¥131.8m | CN¥41.0m | CN¥205.3m | CN¥6.5m | CN¥26.5m | −CN¥131.9m |
| Dividends paid | −CN¥9.0m | −CN¥16.7m | −CN¥30.6m | −CN¥46.4m | −CN¥62.9m | −CN¥62.3m | −CN¥80.6m | −CN¥138.2m | −CN¥123.1m | −CN¥117.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥677.7m | CN¥654.0m | CN¥585.8m | CN¥688.6m | CN¥540.8m | CN¥657.6m | CN¥704.6m | CN¥705.7m |
| Gross profit | CN¥380.0m | CN¥307.0m | CN¥272.8m | CN¥297.8m | CN¥190.7m | CN¥290.8m | CN¥226.3m | CN¥314.3m |
| Operating income | CN¥140.8m | CN¥78.2m | CN¥51.8m | CN¥29.1m | −CN¥12.7m | CN¥63.1m | −CN¥351.3m | CN¥47.6m |
| Net income | CN¥119.5m | CN¥54.7m | CN¥21.3m | CN¥13.5m | −CN¥12.1m | CN¥49.1m | −CN¥356.5m | CN¥16.2m |
| Diluted earnings per share | 0.08 | 0.04 | 0.01 | 0.01 | -0.01 | 0.03 | -0.24 | 0.01 |
| Cash from operations | — | — | — | −CN¥43.0m | CN¥114.0m | −CN¥19.0m | — | CN¥84.0m |
| Capital spending | −CN¥9.0m | −CN¥5.0m | −CN¥15.0m | −CN¥7.0m | −CN¥7.0m | −CN¥7.0m | −CN¥11.0m | −CN¥11.0m |
| Free cash flow | — | — | — | −CN¥50.0m | CN¥107.0m | −CN¥26.0m | — | CN¥73.0m |
| Total assets | CN¥4.31bn | CN¥4.13bn | CN¥4.13bn | CN¥4.22bn | CN¥4.21bn | CN¥4.31bn | CN¥4.38bn | CN¥4.77bn |
| Cash and short-term investments | — | — | — | CN¥475.7m | CN¥597.0m | CN¥578.9m | CN¥567.6m | CN¥520.1m |
| Debt | CN¥32.0m | CN¥36.0m | CN¥36.0m | CN¥539.5m | CN¥540.8m | CN¥597.2m | CN¥547.7m | CN¥563.5m |
| Shareholders' equity | CN¥3.03bn | CN¥2.97bn | CN¥2.95bn | CN¥2.95bn | CN¥3.02bn | CN¥3.05bn | CN¥3.01bn | CN¥3.38bn |
Financial ratios
Data as of 3 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 43.5% | 39.9% | 36.1% | 28.8% | 23.9% | 29.7% |
| Operating margin | 7.1% | -9.9% | 3.5% | -7.2% | -17.8% | -19.7% |
| Net margin | 2.9% | -10.5% | 3.4% | -6.5% | -15.8% | -19.0% |
| Return on equity | 2.4% | -9.5% | 2.8% | -5.2% | -12.9% | -14.0% |
| Return on assets | 1.7% | -6.5% | 1.9% | -3.1% | -7.3% | -8.2% |
| Free cash flow yield | 1.4% | 2.2% | 1.6% | 2.2% | 0.4% | 1.8% |
| Revenue growth | -8.9% | -0.9% | 3.1% | 0.5% | 11.7% | -13.2% |
| Earnings growth | -125.2% | -404.7% | -154.6% | -58.9% | -7.4% | -474.9% |
| Current ratio | 1.52x | 1.41x | 1.19x | 1.12x | 1.19x | 0.94x |
| Debt to equity | 0.01x | 0.18x | 0.22x | 0.30x | 0.40x | 0.45x |
| Equity ratio | 71.3% | 68.6% | 66.5% | 59.4% | 56.5% | 58.5% |
| Interest coverage | 11.68x | -10.79x | 2.13x | -2.91x | -6.03x | -6.81x |
| R&D as a share of sales | 7.4% | 6.7% | 5.5% | 6.4% | 7.4% | 8.1% |
| Buybacks as a share of market value | 0.9% | 17.7% | -44.1% | 15.6% | -11.6% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.4% | 0.9% | -0.5% |
| Operating income | — | — | -10.1% |
| Net income | — | — | -17.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 41.6% | 37.0% | 33.7% | 39.1% |
| Operating margin | -1.8% | -1.8% | -7.2% | -2.5% |
| Net margin | -4.1% | -2.8% | -7.4% | -5.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 181.8 | -45.2 | 169.1 | -34.1 | -22.6 | -18.0 | 110.3 | -4.7 | 207.3 | 60.2 |
| Price to sales | 5.3 | 4.8 | 5.8 | 2.2 | 3.6 | 3.4 | 4.9 | 2.7 | 5.1 | 8.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 13 Jun 2017.
| FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.04 | 0.04 | 0.04 | 0.05 | 0.017 | 0.067 | 0.063 |
- 2-for-1 split · 2 Jun 2015
- 3-for-2 split · 18 Apr 2013
- 8-for-5 split · 11 May 2011
- 8-for-5 split · 4 May 2010
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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