M 
42.31
-0.07%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥3.75bn
FY2016FY2025
Net income
CN¥142.7m
FY2016FY2025
Free cash flow
−CN¥13.6m
FY2016FY2025
Shareholders' equity
CN¥1.70bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.75bn | CN¥2.94bn | CN¥2.15bn | CN¥2.31bn | CN¥1.97bn | CN¥1.12bn | CN¥932.8m | CN¥989.8m | CN¥642.5m | CN¥479.7m |
| Gross profit | CN¥529.1m | CN¥484.7m | CN¥396.1m | CN¥405.4m | CN¥363.4m | CN¥232.4m | CN¥181.4m | CN¥157.4m | CN¥152.4m | CN¥111.4m |
| Research and development | CN¥226.1m | CN¥208.1m | CN¥213.9m | CN¥185.9m | CN¥221.2m | CN¥175.2m | CN¥144.1m | CN¥55.1m | CN¥45.9m | CN¥14.3m |
| Operating income | CN¥176.1m | CN¥153.2m | CN¥42.2m | CN¥119.7m | CN¥113.6m | CN¥16.6m | CN¥19.0m | CN¥49.7m | CN¥62.4m | CN¥54.3m |
| Net income | CN¥142.7m | CN¥135.6m | CN¥64.5m | CN¥127.8m | CN¥118.1m | CN¥27.4m | CN¥24.5m | CN¥46.7m | CN¥56.3m | CN¥46.7m |
| Diluted earnings per share | 0.54 | 0.52 | 0.23 | 0.55 | 0.48 | 0.11 | 0.13 | 0.19 | 0.24 | 0.26 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.97bn | CN¥2.76bn | CN¥2.14bn | CN¥1.73bn | CN¥1.50bn | CN¥978.6m | CN¥784.6m | CN¥897.7m | CN¥815.3m | CN¥473.1m |
| Cash and short-term investments | — | CN¥349.9m | CN¥148.5m | CN¥85.1m | CN¥191.2m | CN¥217.7m | CN¥190.9m | CN¥106.2m | CN¥97.6m | CN¥17.7m |
| Total liabilities | CN¥1.26bn | CN¥1.19bn | CN¥664.9m | CN¥906.5m | CN¥811.3m | CN¥396.8m | CN¥235.6m | CN¥368.4m | CN¥322.1m | CN¥244.9m |
| Debt | — | CN¥354.0m | CN¥14.3m | CN¥414.6m | CN¥331.2m | CN¥20.0m | CN¥15.0m | CN¥69.5m | CN¥56.0m | CN¥81.4m |
| Shareholders' equity | CN¥1.70bn | CN¥1.57bn | CN¥1.48bn | CN¥819.4m | CN¥689.3m | CN¥581.8m | CN¥549.1m | CN¥529.3m | CN¥493.2m | CN¥228.1m |
| Shares outstanding | 264m | 262m | 278m | 232m | 249m | 256m | 192m | 247m | 236m | 182m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥32.5m | −CN¥129.9m | −CN¥31.3m | CN¥31.8m | −CN¥199.6m | CN¥68.4m | CN¥30.9m | CN¥36.7m | −CN¥17.0m | CN¥3.4m |
| Capital spending | −CN¥46.1m | −CN¥27.5m | −CN¥88.4m | −CN¥61.5m | −CN¥18.1m | −CN¥9.7m | −CN¥36.8m | −CN¥8.6m | −CN¥7.7m | −CN¥9.8m |
| Free cash flow | −CN¥13.6m | −CN¥157.4m | −CN¥119.7m | −CN¥29.7m | −CN¥217.7m | CN¥58.8m | −CN¥6.0m | CN¥28.1m | −CN¥24.7m | −CN¥6.5m |
| Dividends paid | −CN¥42.2m | −CN¥26.5m | −CN¥32.3m | −CN¥24.8m | −CN¥3.6m | −CN¥3.6m | −CN¥4.9m | −CN¥13.6m | −CN¥2.6m | −CN¥2.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.10bn | CN¥927.6m | CN¥925.8m | CN¥934.8m | CN¥889.4m | CN¥997.1m | CN¥759.3m | CN¥876.5m |
| Gross profit | CN¥206.3m | CN¥162.3m | CN¥158.6m | CN¥127.3m | CN¥98.2m | CN¥145.0m | CN¥130.0m | CN¥145.7m |
| Operating income | CN¥112.9m | CN¥76.3m | CN¥42.7m | CN¥29.3m | CN¥37.5m | CN¥55.4m | −CN¥96.0m | CN¥55.1m |
| Net income | CN¥59.3m | CN¥46.7m | CN¥29.6m | CN¥29.0m | CN¥37.9m | CN¥46.3m | CN¥44.2m | CN¥57.9m |
| Diluted earnings per share | 0.22 | 0.18 | 0.11 | 0.11 | 0.14 | 0.18 | 0.17 | 0.22 |
| Cash from operations | — | — | — | CN¥125.0m | −CN¥17.0m | −CN¥66.0m | — | CN¥8.0m |
| Capital spending | −CN¥11.0m | −CN¥4.0m | −CN¥18.0m | −CN¥9.0m | −CN¥15.0m | −CN¥2.0m | −CN¥18.0m | −CN¥2.0m |
| Free cash flow | — | — | — | CN¥116.0m | −CN¥32.0m | −CN¥68.0m | — | CN¥6.0m |
| Total assets | CN¥4.83bn | CN¥4.41bn | CN¥2.97bn | CN¥2.85bn | CN¥3.00bn | CN¥3.09bn | CN¥2.76bn | CN¥2.33bn |
| Cash and short-term investments | — | — | — | CN¥321.2m | CN¥348.8m | CN¥460.3m | CN¥349.9m | CN¥245.6m |
| Debt | — | — | — | CN¥372.1m | CN¥503.1m | CN¥538.0m | CN¥352.6m | CN¥130.0m |
| Shareholders' equity | CN¥2.79bn | CN¥2.73bn | CN¥1.70bn | CN¥1.68bn | CN¥1.62bn | CN¥1.62bn | CN¥1.57bn | CN¥1.53bn |
Financial ratios
Data as of 29 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 14.1% | 16.5% | 18.4% | 17.6% | 18.5% | 20.7% | — |
| Operating margin | 4.7% | 5.2% | 2.0% | 5.2% | 5.8% | 1.5% | — |
| Net margin | 3.8% | 4.6% | 3.0% | 5.5% | 6.0% | 2.4% | — |
| Return on equity | 8.4% | 8.7% | 4.4% | 15.6% | 17.1% | 4.7% | — |
| Return on assets | 4.8% | 4.9% | 3.0% | 7.4% | 7.9% | 2.8% | — |
| Free cash flow yield | 0.7% | -0.9% | 0.5% | 1.0% | -1.7% | 0.7% | — |
| Revenue growth | 27.4% | 37.0% | -6.9% | 17.1% | 75.7% | 20.2% | — |
| Earnings growth | 5.3% | 110.2% | -49.5% | 8.2% | 330.5% | 12.2% | — |
| Current ratio | 2.01x | 1.95x | 2.57x | 1.59x | 1.56x | 2.06x | — |
| Debt to equity | — | 0.23x | 0.00x | 0.45x | 0.44x | 0.03x | -0.01x |
| Equity ratio | 57.4% | 56.8% | 69.0% | 47.5% | 45.9% | 59.5% | — |
| Interest coverage | 25.18x | 23.33x | 4.69x | 8.45x | 11.65x | 9.69x | — |
| R&D as a share of sales | 6.0% | 7.1% | 10.0% | 8.1% | 11.2% | 15.6% | — |
| Buybacks as a share of market value | -0.7% | 5.7% | -19.6% | 6.7% | 2.9% | -33.5% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 17.6% | 27.3% | 25.4% |
| Operating income | 13.7% | 60.5% | 17.7% |
| Net income | 3.7% | 39.1% | 16.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 15.2% | 16.3% | 16.9% | 17.6% |
| Operating margin | 4.9% | 4.4% | 4.4% | 4.8% |
| Net margin | 4.2% | 4.2% | 4.3% | 4.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 82.3 | 57.9 | 116.4 | 48.5 | 69.4 | 142.3 | 160.8 | 72.5 | 57.6 |
| Price to sales | 3.1 | 2.7 | 3.5 | 2.7 | 4.2 | 3.5 | 4.2 | 3.4 | 5.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 8 years. Last went ex-dividend on 21 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.13 | 0.10 | 0.10 | 0.136 | 0.015 | 0.015 | 0.021 |
- 13-for-10 split · 10 Jun 2022
- 17-for-10 split · 5 Jun 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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