K 
11.15
+0.54%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥5.24bn
FY2016FY2025
Net income
CN¥125.4m
FY2016FY2025
Free cash flow
−CN¥1.56bn
FY2016FY2025
Shareholders' equity
CN¥2.81bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.24bn | CN¥3.10bn | CN¥2.79bn | CN¥2.47bn | CN¥2.27bn | CN¥1.93bn | CN¥1.07bn | CN¥928.3m | CN¥549.8m | CN¥594.0m |
| Gross profit | CN¥736.7m | CN¥489.5m | CN¥575.2m | CN¥471.3m | CN¥355.7m | CN¥605.7m | CN¥394.7m | CN¥267.2m | CN¥144.6m | CN¥208.7m |
| Research and development | CN¥161.7m | CN¥203.5m | CN¥177.6m | CN¥126.4m | CN¥98.1m | CN¥95.4m | CN¥73.9m | CN¥55.3m | CN¥34.8m | CN¥29.9m |
| Operating income | CN¥300.1m | −CN¥194.7m | CN¥47.8m | CN¥85.7m | CN¥18.4m | CN¥263.8m | CN¥157.3m | CN¥92.5m | CN¥40.1m | CN¥94.7m |
| Net income | CN¥125.4m | −CN¥246.2m | CN¥30.3m | CN¥47.9m | CN¥22.0m | CN¥215.0m | CN¥140.0m | CN¥80.4m | CN¥43.8m | CN¥82.6m |
| Diluted earnings per share | 0.43 | -0.81 | 0.10 | 0.16 | 0.09 | 0.84 | 0.55 | 0.34 | 0.19 | 0.40 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥9.11bn | CN¥6.94bn | CN¥7.12bn | CN¥5.33bn | CN¥3.73bn | CN¥3.33bn | CN¥2.55bn | CN¥2.26bn | CN¥1.77bn | CN¥1.80bn |
| Cash and short-term investments | — | CN¥799.8m | CN¥644.4m | CN¥651.2m | CN¥383.9m | CN¥523.6m | CN¥493.0m | CN¥358.7m | CN¥448.1m | CN¥894.7m |
| Total liabilities | CN¥6.04bn | CN¥4.03bn | CN¥3.81bn | CN¥2.19bn | CN¥1.44bn | CN¥976.7m | CN¥416.4m | CN¥345.9m | CN¥129.8m | CN¥186.4m |
| Debt | CN¥842.3m | CN¥1.84bn | CN¥2.41bn | CN¥1.32bn | CN¥631.8m | CN¥518.4m | CN¥138.5m | CN¥138.0m | CN¥40.0m | CN¥110.0m |
| Shareholders' equity | CN¥2.81bn | CN¥2.73bn | CN¥2.98bn | CN¥3.00bn | CN¥2.26bn | CN¥2.33bn | CN¥2.13bn | CN¥1.91bn | CN¥1.64bn | CN¥1.61bn |
| Shares outstanding | 293m | 302m | 307m | 302m | 252m | 255m | 255m | 237m | 228m | 206m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥1.20bn | CN¥498.7m | CN¥9.8m | −CN¥23.6m | CN¥207.7m | −CN¥122.7m | CN¥188.8m | −CN¥81.2m | CN¥56.6m | CN¥52.6m |
| Capital spending | −CN¥360.7m | −CN¥464.2m | −CN¥489.2m | −CN¥375.3m | −CN¥141.5m | −CN¥208.1m | −CN¥84.9m | −CN¥142.9m | −CN¥92.3m | −CN¥94.6m |
| Free cash flow | −CN¥1.56bn | CN¥34.4m | −CN¥479.4m | −CN¥399.0m | CN¥66.3m | −CN¥330.7m | CN¥103.9m | −CN¥224.2m | −CN¥35.7m | −CN¥41.9m |
| Dividends paid | −CN¥71.8m | −CN¥115.5m | −CN¥68.3m | −CN¥33.1m | −CN¥75.8m | −CN¥31.4m | −CN¥25.1m | −CN¥14.5m | −CN¥19.8m | −CN¥26.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.61bn | CN¥1.16bn | CN¥1.49bn | CN¥1.49bn | CN¥1.38bn | CN¥877.0m | CN¥922.2m | CN¥816.5m |
| Gross profit | CN¥188.1m | CN¥160.6m | CN¥198.5m | CN¥188.3m | CN¥210.9m | CN¥139.1m | CN¥125.0m | CN¥140.6m |
| Operating income | CN¥75.6m | CN¥50.7m | CN¥81.8m | CN¥42.7m | CN¥50.1m | CN¥11.0m | −CN¥185.6m | −CN¥4.0m |
| Net income | CN¥21.8m | CN¥6.9m | CN¥41.4m | CN¥32.9m | CN¥44.8m | CN¥6.4m | −CN¥169.7m | −CN¥20.0m |
| Diluted earnings per share | 0.07 | 0.02 | 0.14 | 0.11 | 0.15 | 0.02 | -0.56 | -0.07 |
| Cash from operations | — | — | — | CN¥93.0m | −CN¥274.0m | −CN¥243.0m | CN¥72.0m | CN¥140.0m |
| Capital spending | −CN¥37.0m | −CN¥130.0m | −CN¥92.0m | −CN¥78.0m | −CN¥117.0m | −CN¥72.0m | −CN¥153.0m | −CN¥84.0m |
| Free cash flow | — | — | — | CN¥15.0m | −CN¥391.0m | −CN¥315.0m | −CN¥81.0m | CN¥56.0m |
| Total assets | CN¥9.44bn | CN¥9.64bn | CN¥9.11bn | CN¥8.50bn | CN¥7.69bn | CN¥6.75bn | CN¥6.94bn | CN¥7.55bn |
| Cash and short-term investments | — | — | — | CN¥622.9m | CN¥533.7m | CN¥495.7m | CN¥799.8m | CN¥639.3m |
| Debt | CN¥1.00bn | CN¥959.5m | CN¥842.3m | CN¥2.22bn | CN¥2.00bn | CN¥1.63bn | CN¥1.81bn | CN¥3.09bn |
| Shareholders' equity | CN¥2.74bn | CN¥2.77bn | CN¥2.81bn | CN¥2.71bn | CN¥2.68bn | CN¥2.72bn | CN¥2.73bn | CN¥2.90bn |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 14.1% | 15.8% | 20.6% | 19.1% | 15.7% | 31.3% | — | — |
| Operating margin | 4.2% | -6.3% | 1.9% | 3.5% | 0.8% | 13.7% | — | — |
| Net margin | 2.4% | -7.9% | 1.1% | 1.9% | 1.0% | 11.1% | — | — |
| Return on equity | 4.5% | -9.0% | 1.0% | 1.6% | 1.0% | 9.2% | — | — |
| Return on assets | 1.4% | -3.5% | 0.4% | 0.9% | 0.6% | 6.5% | — | — |
| Free cash flow yield | — | 13.2% | — | -0.6% | 6.6% | -3.8% | 5.9% | -2.7% |
| Revenue growth | 68.9% | 11.0% | 13.2% | 8.6% | 17.6% | 81.2% | — | — |
| Earnings growth | -151.0% | -912.0% | -36.7% | 117.6% | -89.8% | 53.6% | — | — |
| Current ratio | 1.14x | 1.24x | 1.31x | 1.97x | 1.71x | 2.25x | — | — |
| Debt to equity | 0.30x | 0.67x | 0.75x | 0.38x | 0.28x | 0.22x | — | — |
| Equity ratio | 30.8% | 39.3% | 41.8% | 56.3% | 60.7% | 70.2% | — | — |
| Interest coverage | 3.10x | -1.98x | 4.55x | 2.60x | 0.59x | 21.65x | — | — |
| R&D as a share of sales | 3.1% | 6.6% | 6.4% | 5.1% | 4.3% | 4.9% | — | — |
| Buybacks as a share of market value | 3.1% | 1.6% | -1.6% | -20.2% | 1.5% | -0.4% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 28.5% | 22.1% | 21.8% |
| Operating income | 51.8% | 2.6% | 8.7% |
| Net income | 37.9% | -10.2% | 1.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 14.7% | 16.7% | 18.2% | 20.8% |
| Operating margin | 1.3% | 1.8% | 2.9% | 4.8% |
| Net margin | -1.4% | -0.3% | 1.1% | 3.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 35.5 | -11.8 | 120.8 | 81.3 | 187.0 | 19.6 | 24.1 | 29.9 | 116.4 | 77.4 |
| Price to sales | 0.8 | 0.9 | 1.3 | 1.6 | 1.8 | 2.2 | 3.2 | 2.6 | 9.3 | 10.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 May 2024.
| FY2024 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.07 | 0.20 | 0.08 | 0.077 | 0.037 | 0.072 | 0.108 | 0.07 |
- 2-for-1 split · 19 May 2014
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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