Y 
Yunnan Lincang Xinyuan Germanium Industry Co 002428.SZ · CNY
Materials · Shenzhen · 🇨🇳 China
74.37
+2.68%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.07bn
FY2016FY2025
Net income
CN¥20.1m
FY2016FY2025
Free cash flow
−CN¥283.1m
FY2016FY2025
Shareholders' equity
CN¥1.46bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.07bn | CN¥767.4m | CN¥672.0m | CN¥536.6m | CN¥556.5m | CN¥670.0m | CN¥418.5m | CN¥465.0m | CN¥464.3m | CN¥298.3m |
| Gross profit | CN¥349.5m | CN¥212.7m | CN¥122.5m | CN¥56.4m | CN¥106.2m | CN¥116.8m | CN¥53.3m | CN¥94.7m | CN¥96.9m | −CN¥9.9m |
| Research and development | CN¥80.4m | CN¥58.9m | CN¥38.9m | CN¥44.8m | CN¥28.4m | CN¥25.9m | CN¥22.0m | CN¥17.3m | CN¥11.9m | CN¥21.6m |
| Operating income | CN¥91.8m | CN¥57.3m | CN¥3.7m | −CN¥75.8m | CN¥29.7m | CN¥21.8m | −CN¥53.7m | CN¥6.4m | CN¥16.6m | −CN¥129.1m |
| Net income | CN¥20.1m | CN¥53.1m | CN¥7.0m | −CN¥62.4m | CN¥14.0m | CN¥22.6m | −CN¥59.1m | CN¥8.6m | CN¥8.5m | −CN¥103.2m |
| Diluted earnings per share | 0.03 | 0.08 | 0.01 | -0.11 | 0.02 | 0.04 | -0.09 | 0.01 | 0.01 | -0.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.41bn | CN¥3.18bn | CN¥2.58bn | CN¥2.41bn | CN¥2.35bn | CN¥2.23bn | CN¥2.03bn | CN¥1.91bn | CN¥1.97bn | CN¥1.91bn |
| Cash and short-term investments | — | CN¥519.7m | CN¥71.0m | CN¥132.0m | CN¥109.9m | CN¥139.1m | CN¥103.2m | CN¥96.3m | CN¥167.0m | CN¥68.3m |
| Total liabilities | CN¥1.89bn | CN¥1.67bn | CN¥1.08bn | CN¥925.3m | CN¥803.7m | CN¥689.4m | CN¥550.1m | CN¥371.3m | CN¥436.8m | CN¥357.7m |
| Debt | CN¥253.4m | CN¥495.3m | CN¥443.7m | CN¥502.4m | CN¥482.5m | CN¥388.4m | CN¥246.0m | CN¥156.4m | CN¥260.0m | CN¥50.0m |
| Shareholders' equity | CN¥1.46bn | CN¥1.46bn | CN¥1.42bn | CN¥1.41bn | CN¥1.47bn | CN¥1.46bn | CN¥1.43bn | CN¥1.49bn | CN¥1.48bn | CN¥1.47bn |
| Shares outstanding | 653m | 653m | 653m | 579m | 672m | 601m | 626m | 735m | 703m | 644m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥187.3m | −CN¥31.2m | −CN¥149.0m | CN¥107.5m | CN¥112.5m | CN¥124.8m | −CN¥104.1m | CN¥46.9m | CN¥106.8m | CN¥189.8m |
| Capital spending | −CN¥95.8m | −CN¥27.7m | −CN¥55.2m | −CN¥161.0m | −CN¥92.0m | −CN¥186.6m | −CN¥37.9m | −CN¥38.7m | −CN¥43.8m | −CN¥102.2m |
| Free cash flow | −CN¥283.1m | −CN¥58.9m | −CN¥204.3m | −CN¥53.6m | CN¥20.5m | −CN¥61.8m | −CN¥141.9m | CN¥8.2m | CN¥63.0m | CN¥87.6m |
| Dividends paid | −CN¥57.6m | −CN¥45.4m | −CN¥25.0m | −CN¥23.6m | −CN¥25.9m | −CN¥19.3m | −CN¥13.3m | −CN¥8.4m | −CN¥9.3m | −CN¥27.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥442.9m | CN¥288.9m | CN¥267.1m | CN¥269.3m | CN¥289.4m | CN¥240.1m | CN¥264.6m | CN¥154.6m |
| Gross profit | CN¥145.3m | CN¥58.6m | CN¥44.9m | CN¥53.2m | CN¥65.3m | CN¥60.5m | CN¥65.1m | CN¥94.1m |
| Operating income | CN¥94.5m | CN¥24.6m | CN¥15.9m | CN¥2.9m | CN¥13.7m | CN¥12.4m | CN¥27.2m | CN¥41.9m |
| Net income | CN¥65.2m | CN¥9.1m | CN¥2.0m | −CN¥4.0m | CN¥12.0m | CN¥10.2m | CN¥23.6m | CN¥38.7m |
| Diluted earnings per share | 0.10 | 0.01 | 0.00 | -0.01 | 0.02 | 0.02 | 0.04 | 0.06 |
| Cash from operations | — | — | — | −CN¥40.0m | −CN¥32.0m | −CN¥98.0m | −CN¥20.0m | CN¥72.0m |
| Capital spending | −CN¥90.0m | −CN¥27.0m | −CN¥59.0m | −CN¥14.0m | −CN¥14.0m | −CN¥8.0m | −CN¥10.0m | −CN¥7.0m |
| Free cash flow | — | — | — | −CN¥54.0m | −CN¥46.0m | −CN¥106.0m | −CN¥30.0m | CN¥65.0m |
| Total assets | CN¥3.92bn | CN¥3.49bn | CN¥3.41bn | CN¥3.50bn | CN¥3.49bn | CN¥3.50bn | CN¥3.18bn | CN¥2.87bn |
| Cash and short-term investments | — | — | — | CN¥515.1m | CN¥557.4m | CN¥658.2m | CN¥519.7m | CN¥218.3m |
| Debt | CN¥1.04bn | CN¥823.2m | CN¥253.4m | CN¥754.7m | CN¥719.1m | CN¥791.7m | CN¥491.4m | CN¥702.8m |
| Shareholders' equity | CN¥1.53bn | CN¥1.47bn | CN¥1.46bn | CN¥1.46bn | CN¥1.46bn | CN¥1.47bn | CN¥1.46bn | CN¥1.43bn |
Financial ratios
Data as of 25 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 32.8% | 27.7% | 18.2% | 10.5% | 19.1% | 17.4% |
| Operating margin | 8.6% | 7.5% | 0.5% | -14.1% | 5.3% | 3.2% |
| Net margin | 1.9% | 6.9% | 1.0% | -11.6% | 2.5% | 3.4% |
| Return on equity | 1.4% | 3.6% | 0.5% | -4.4% | 0.9% | 1.6% |
| Return on assets | 0.6% | 1.7% | 0.3% | -2.6% | 0.6% | 1.0% |
| Free cash flow yield | -0.2% | -0.0% | -0.2% | 0.5% | 0.3% | 0.6% |
| Revenue growth | 38.9% | 14.2% | 25.2% | -3.6% | -16.9% | 60.1% |
| Earnings growth | -62.1% | 661.3% | -111.2% | -546.8% | -38.3% | -138.3% |
| Current ratio | 1.87x | 1.88x | 1.26x | 1.41x | 1.61x | 1.20x |
| Debt to equity | 0.17x | 0.34x | 0.31x | 0.35x | 0.32x | 0.26x |
| Equity ratio | 42.8% | 45.8% | 54.9% | 58.3% | 62.6% | 65.4% |
| Interest coverage | 1.51x | 1.49x | 0.14x | -2.83x | 1.07x | 0.76x |
| R&D as a share of sales | 7.5% | 7.7% | 5.8% | 8.3% | 5.1% | 3.9% |
| Buybacks as a share of market value | 0.0% | 0.0% | -12.8% | 13.8% | -11.8% | 4.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 25.7% | 9.7% | 10.2% |
| Operating income | — | 33.3% | 7.8% |
| Net income | — | -2.3% | -10.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.7% | 24.4% | 22.6% | 21.0% |
| Operating margin | 8.1% | 2.5% | 3.0% | 0.2% |
| Net margin | 4.0% | 0.6% | 1.3% | -0.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | — | 232.5 | — | -86.5 | — | 326.4 | -90.1 | 426.4 | — | -79.0 |
| Price to sales | 19.4 | 16.1 | 12.0 | 10.1 | 14.5 | 11.0 | 12.7 | 7.9 | 18.3 | 27.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 19 Jun 2025.
| FY2025 | FY2024 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.03 | 0.02 | 0.03 | 0.03 | 0.06 | 0.05 | 0.025 | 0.029 |
- 2-for-1 split · 13 May 2013
- 2-for-1 split · 24 Apr 2012
- 13-for-10 split · 27 May 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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