A 
18.41
+1.54%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.93bn
FY2016FY2025
Net income
CN¥26.9m
FY2016FY2025
Free cash flow
−CN¥485.9m
FY2016FY2025
Shareholders' equity
CN¥8.01bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.93bn | CN¥2.57bn | CN¥2.87bn | CN¥3.86bn | CN¥2.91bn | CN¥2.99bn | CN¥3.10bn | CN¥2.72bn | CN¥1.45bn | CN¥515.2m |
| Gross profit | CN¥405.2m | CN¥513.9m | CN¥673.1m | CN¥784.2m | CN¥700.2m | CN¥724.7m | CN¥801.1m | CN¥747.7m | CN¥432.2m | CN¥173.9m |
| Research and development | CN¥143.0m | CN¥131.2m | CN¥133.1m | CN¥165.6m | CN¥186.5m | CN¥150.5m | CN¥142.4m | CN¥139.7m | CN¥89.5m | CN¥28.2m |
| Operating income | CN¥60.7m | CN¥122.5m | CN¥190.2m | CN¥357.5m | CN¥276.1m | CN¥326.6m | CN¥287.3m | CN¥312.9m | CN¥229.8m | CN¥95.7m |
| Net income | CN¥26.9m | CN¥88.2m | CN¥153.5m | CN¥306.7m | CN¥227.6m | CN¥273.9m | CN¥231.9m | CN¥241.8m | CN¥186.7m | CN¥65.0m |
| Diluted earnings per share | 0.03 | 0.09 | 0.19 | 0.31 | 0.24 | 0.35 | 0.29 | 0.25 | 0.20 | 0.17 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥11.69bn | CN¥10.95bn | CN¥10.64bn | CN¥9.85bn | CN¥9.51bn | CN¥8.84bn | CN¥8.15bn | CN¥7.94bn | CN¥7.54bn | CN¥1.78bn |
| Cash and short-term investments | CN¥1.64bn | CN¥2.19bn | CN¥1.95bn | CN¥1.85bn | CN¥1.75bn | CN¥736.9m | CN¥675.4m | CN¥597.0m | CN¥722.8m | CN¥497.2m |
| Total liabilities | CN¥3.47bn | CN¥2.73bn | CN¥2.44bn | CN¥1.80bn | CN¥1.63bn | CN¥2.06bn | CN¥1.58bn | CN¥1.57bn | CN¥1.41bn | CN¥318.4m |
| Debt | CN¥958.2m | CN¥262.7m | CN¥265.6m | CN¥204.4m | CN¥239.1m | CN¥307.9m | CN¥424.0m | CN¥472.2m | CN¥426.0m | CN¥118.0m |
| Shareholders' equity | CN¥8.01bn | CN¥8.04bn | CN¥8.02bn | CN¥7.88bn | CN¥7.71bn | CN¥6.61bn | CN¥6.43bn | CN¥6.22bn | CN¥5.98bn | CN¥1.39bn |
| Shares outstanding | 985m | 980m | 797m | 981m | 940m | 791m | 790m | 953m | 947m | 382m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥262.0m | −CN¥93.7m | CN¥388.3m | CN¥473.6m | CN¥38.3m | CN¥410.6m | CN¥321.6m | −CN¥40.7m | CN¥157.3m | −CN¥9.5m |
| Capital spending | −CN¥223.9m | −CN¥267.2m | −CN¥323.1m | −CN¥361.1m | −CN¥203.0m | −CN¥251.2m | −CN¥136.0m | −CN¥122.2m | −CN¥145.8m | −CN¥340.1m |
| Free cash flow | −CN¥485.9m | −CN¥361.0m | CN¥65.2m | CN¥112.5m | −CN¥164.8m | CN¥159.4m | CN¥185.6m | −CN¥162.9m | CN¥11.4m | −CN¥349.6m |
| Dividends paid | −CN¥59.1m | −CN¥65.4m | −CN¥59.4m | −CN¥59.8m | −CN¥37.8m | −CN¥42.6m | −CN¥28.4m | −CN¥41.7m | −CN¥7.1m | −CN¥20.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥517.5m | CN¥373.3m | CN¥1.41bn | CN¥711.9m | CN¥495.8m | CN¥315.1m | CN¥1.28bn | CN¥271.2m |
| Gross profit | CN¥118.6m | CN¥51.7m | CN¥209.4m | CN¥114.8m | CN¥127.8m | CN¥56.8m | CN¥207.7m | CN¥55.5m |
| Operating income | −CN¥101,052 | −CN¥48.4m | CN¥10.2m | CN¥16.7m | CN¥43.7m | −CN¥31.1m | CN¥106.1m | −CN¥64.6m |
| Net income | −CN¥25.7m | CN¥101.1m | CN¥20.9m | CN¥6.6m | CN¥30.4m | −CN¥30.9m | CN¥82.0m | −CN¥59.8m |
| Diluted earnings per share | -0.03 | 0.10 | 0.02 | 0.01 | 0.03 | -0.03 | 0.08 | -0.06 |
| Cash from operations | — | — | CN¥660.0m | −CN¥203.0m | −CN¥209.0m | −CN¥510.0m | CN¥339.0m | −CN¥6.0m |
| Capital spending | −CN¥37.0m | −CN¥40.0m | −CN¥142.0m | −CN¥47.0m | −CN¥20.0m | −CN¥13.0m | −CN¥118.0m | −CN¥66.0m |
| Free cash flow | — | — | CN¥518.0m | −CN¥250.0m | −CN¥229.0m | −CN¥523.0m | CN¥221.0m | −CN¥72.0m |
| Total assets | CN¥11.61bn | CN¥11.97bn | CN¥11.69bn | CN¥10.31bn | CN¥10.20bn | CN¥10.60bn | CN¥10.95bn | CN¥10.12bn |
| Cash and short-term investments | — | — | CN¥1.64bn | CN¥815.0m | CN¥1.34bn | CN¥1.24bn | CN¥2.19bn | CN¥1.29bn |
| Debt | — | — | CN¥931.8m | CN¥483.5m | CN¥385.4m | CN¥255.6m | CN¥241.3m | CN¥216.8m |
| Shareholders' equity | CN¥8.03bn | CN¥8.11bn | CN¥8.01bn | CN¥7.99bn | CN¥7.98bn | CN¥8.01bn | CN¥8.04bn | CN¥7.98bn |
Financial ratios
Data as of 25 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 13.8% | 20.0% | 23.5% | 20.3% | 24.0% | 24.3% |
| Operating margin | 2.1% | 4.8% | 6.6% | 9.3% | 9.5% | 10.9% |
| Net margin | 0.9% | 3.4% | 5.4% | 7.9% | 7.8% | 9.2% |
| Return on equity | 0.3% | 1.1% | 1.9% | 3.9% | 3.0% | 4.1% |
| Return on assets | 0.2% | 0.8% | 1.4% | 3.1% | 2.4% | 3.1% |
| Free cash flow yield | -0.2% | 1.0% | 4.9% | 4.6% | 1.4% | 4.6% |
| Revenue growth | 14.0% | -10.4% | -25.7% | 32.4% | -2.5% | -3.6% |
| Earnings growth | -69.5% | -42.5% | -50.0% | 34.8% | -16.9% | 18.1% |
| Current ratio | 2.21x | 2.52x | 2.75x | 3.77x | 4.18x | 2.46x |
| Debt to equity | 0.12x | 0.03x | 0.03x | 0.02x | 0.03x | 0.04x |
| Equity ratio | 68.5% | 73.4% | 75.4% | 80.0% | 81.1% | 74.8% |
| Interest coverage | 5.48x | 22.20x | 22.41x | 44.20x | 46.74x | 17.72x |
| R&D as a share of sales | 4.9% | 5.1% | 4.6% | 4.3% | 6.4% | 5.0% |
| Buybacks as a share of market value | -0.5% | -23.0% | 18.8% | -4.4% | -18.9% | -0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.8% | -0.4% | 12.2% |
| Operating income | -44.6% | -28.6% | -7.3% |
| Net income | -55.5% | -37.1% | -12.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.7% | 19.4% | 21.0% | 23.3% |
| Operating margin | 3.3% | 6.0% | 7.4% | 8.9% |
| Net margin | 2.1% | 4.7% | 5.9% | 7.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | — | 200.6 | 96.5 | 65.8 | 114.8 | 96.0 | 37.8 | 48.1 | 107.2 | 135.8 |
| Price to sales | 8.1 | 6.9 | 5.2 | 5.2 | 9.0 | 8.8 | 2.8 | 4.3 | 13.8 | 17.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 15 years. Last went ex-dividend on 22 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.04 | 0.03 | 0.03 |
- 2-for-1 split · 15 May 2013
- 3-for-2 split · 20 Feb 2012
- 2-for-1 split · 13 Apr 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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