H 
8.38
+5.54%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥6.01bn
FY2016FY2025
Net income
−CN¥257.8m
FY2016FY2025
Free cash flow
−CN¥340.8m
FY2016FY2025
Shareholders' equity
CN¥2.08bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥6.01bn | CN¥6.14bn | CN¥5.65bn | CN¥5.65bn | CN¥5.72bn | CN¥6.11bn | CN¥7.84bn | CN¥6.93bn | CN¥5.35bn | CN¥3.44bn |
| Gross profit | CN¥3.10bn | CN¥2.89bn | CN¥2.71bn | CN¥2.61bn | CN¥2.40bn | CN¥2.84bn | CN¥3.03bn | CN¥3.24bn | CN¥2.49bn | CN¥1.67bn |
| Research and development | CN¥1.10bn | CN¥982.2m | CN¥901.3m | CN¥943.2m | CN¥1.04bn | CN¥930.2m | CN¥852.4m | CN¥773.9m | CN¥700.0m | CN¥358.4m |
| Operating income | CN¥430.2m | CN¥318.0m | CN¥203.1m | CN¥356.5m | −CN¥530.9m | CN¥23.3m | CN¥13.7m | CN¥589.2m | CN¥254.4m | CN¥294.0m |
| Net income | −CN¥257.8m | −CN¥3.48bn | −CN¥387.9m | CN¥407.5m | −CN¥661.7m | CN¥95.3m | CN¥80.8m | CN¥476.8m | CN¥244.9m | CN¥401.8m |
| Diluted earnings per share | -0.14 | -1.92 | -0.21 | 0.22 | -0.36 | 0.05 | 0.05 | 0.27 | 0.15 | 0.28 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥10.75bn | CN¥11.18bn | CN¥11.82bn | CN¥11.51bn | CN¥12.93bn | CN¥14.40bn | CN¥16.48bn | CN¥14.97bn | CN¥13.93bn | CN¥6.81bn |
| Cash and short-term investments | — | CN¥1.13bn | CN¥1.16bn | CN¥927.5m | CN¥1.47bn | CN¥1.40bn | CN¥1.30bn | CN¥1.10bn | CN¥1.59bn | CN¥599.2m |
| Total liabilities | CN¥8.50bn | CN¥8.64bn | CN¥5.78bn | CN¥5.15bn | CN¥7.17bn | CN¥8.14bn | CN¥10.34bn | CN¥8.86bn | CN¥8.28bn | CN¥2.05bn |
| Debt | CN¥251.8m | CN¥1.97bn | CN¥2.06bn | CN¥2.14bn | CN¥3.93bn | CN¥4.23bn | CN¥5.40bn | CN¥5.02bn | CN¥4.13bn | CN¥599.1m |
| Shareholders' equity | CN¥2.08bn | CN¥2.39bn | CN¥5.87bn | CN¥6.20bn | CN¥5.60bn | CN¥6.26bn | CN¥6.14bn | CN¥6.11bn | CN¥5.65bn | CN¥4.75bn |
| Shares outstanding | 1,819m | 1,820m | 1,817m | 1,816m | 1,837m | 1,773m | 1,743m | 1,765m | 1,651m | 1,447m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥119.3m | CN¥622.8m | CN¥685.9m | CN¥623.3m | CN¥704.0m | CN¥687.9m | CN¥1.08bn | CN¥96.8m | −CN¥243.3m | −CN¥403.9m |
| Capital spending | −CN¥460.1m | −CN¥442.0m | −CN¥366.5m | −CN¥439.4m | −CN¥489.1m | −CN¥664.8m | −CN¥784.4m | −CN¥1.79bn | −CN¥1.43bn | −CN¥1.06bn |
| Free cash flow | −CN¥340.8m | CN¥180.8m | CN¥319.3m | CN¥183.9m | CN¥214.9m | CN¥23.1m | CN¥294.4m | −CN¥1.70bn | −CN¥1.68bn | −CN¥1.47bn |
| Dividends paid | −CN¥57.9m | −CN¥92.5m | −CN¥101.5m | −CN¥153.5m | −CN¥20.0m | −CN¥297.7m | −CN¥64.3m | −CN¥273.0m | −CN¥155.8m | −CN¥90.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.26bn | CN¥1.00bn | CN¥2.26bn | CN¥1.49bn | CN¥1.26bn | CN¥1.00bn | CN¥1.97bn | CN¥1.44bn |
| Gross profit | CN¥691.1m | CN¥503.5m | CN¥1.19bn | CN¥750.3m | CN¥600.8m | CN¥519.2m | CN¥835.2m | CN¥813.5m |
| Operating income | CN¥130.3m | CN¥18.4m | CN¥322.2m | CN¥24.3m | CN¥89.6m | CN¥38.7m | CN¥61.2m | CN¥69.7m |
| Net income | CN¥73.7m | −CN¥31.1m | −CN¥443.9m | CN¥92.5m | CN¥66.5m | CN¥27.1m | −CN¥3.74bn | CN¥89.1m |
| Diluted earnings per share | 0.04 | -0.02 | -0.24 | 0.05 | 0.04 | 0.01 | -2.05 | 0.05 |
| Cash from operations | — | — | — | −CN¥230.0m | CN¥287.0m | −CN¥47.0m | CN¥288.0m | CN¥295.0m |
| Capital spending | −CN¥88.0m | −CN¥103.0m | −CN¥146.0m | −CN¥107.0m | −CN¥129.0m | −CN¥76.0m | −CN¥208.0m | −CN¥103.0m |
| Free cash flow | — | — | — | −CN¥337.0m | CN¥158.0m | −CN¥123.0m | CN¥80.0m | CN¥192.0m |
| Total assets | CN¥10.41bn | CN¥10.34bn | CN¥10.75bn | CN¥10.68bn | CN¥11.85bn | CN¥11.46bn | CN¥11.18bn | CN¥11.87bn |
| Cash and short-term investments | — | — | — | CN¥1.35bn | CN¥1.63bn | CN¥1.46bn | CN¥1.13bn | CN¥877.1m |
| Debt | CN¥222.2m | CN¥286.3m | CN¥251.8m | CN¥2.15bn | CN¥2.25bn | CN¥2.33bn | CN¥1.94bn | CN¥2.11bn |
| Shareholders' equity | CN¥2.09bn | CN¥2.04bn | CN¥2.08bn | CN¥2.55bn | CN¥2.52bn | CN¥2.43bn | CN¥2.39bn | CN¥6.10bn |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 51.5% | 47.1% | 48.0% | 46.2% | 42.0% | 46.6% |
| Operating margin | 7.2% | 5.2% | 3.6% | 6.3% | -9.3% | 0.4% |
| Net margin | -4.3% | -56.7% | -6.9% | 7.2% | -11.6% | 1.6% |
| Return on equity | -12.4% | -146.0% | -6.6% | 6.6% | -11.8% | 1.5% |
| Return on assets | -2.4% | -31.2% | -3.3% | 3.5% | -5.1% | 0.7% |
| Free cash flow yield | 4.0% | 7.3% | 7.2% | 7.3% | 8.1% | 9.5% |
| Revenue growth | -2.2% | 8.7% | 0.0% | -1.2% | -6.4% | -22.1% |
| Earnings growth | -92.6% | 798.4% | -195.2% | -161.6% | -794.4% | 17.9% |
| Current ratio | 1.47x | 1.54x | 1.51x | 1.49x | 1.25x | 1.22x |
| Debt to equity | 0.12x | 0.81x | 0.34x | 0.34x | 0.68x | 0.66x |
| Equity ratio | 19.4% | 21.3% | 49.7% | 53.9% | 43.3% | 43.5% |
| Interest coverage | 6.02x | 2.88x | 1.75x | 1.81x | -2.04x | 0.08x |
| R&D as a share of sales | 18.3% | 16.0% | 15.9% | 16.7% | 18.1% | 15.2% |
| Buybacks as a share of market value | 0.1% | -0.2% | -0.0% | 1.2% | -3.6% | -1.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.1% | -0.3% | 9.3% |
| Operating income | 6.5% | 79.2% | 8.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 49.3% | 48.2% | 46.9% | 46.0% |
| Operating margin | 6.2% | 5.6% | 2.3% | 3.5% |
| Net margin | -30.8% | -15.9% | -12.2% | -4.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -79.9 | -7.4 | -27.9 | 22.8 | -15.3 | 114.3 | 181.4 | 29.2 | 124.8 | 47.6 |
| Price to sales | 3.4 | 4.2 | 1.9 | 1.6 | 1.8 | 1.8 | 1.9 | 2.0 | 5.7 | 5.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 24 May 2021.
| FY2021 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.011 | 0.035 | 0.025 | 0.035 | 0.033 | 0.009 | 0.015 | 0.009 |
- 11-for-5 split · 30 Sept 2015
- 5-for-2 split · 15 Sept 2014
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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