Z 
43.86
+10.01%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥498.1m
FY2016FY2025
Net income
CN¥22.7m
FY2016FY2025
Free cash flow
CN¥29.2m
FY2016FY2025
Shareholders' equity
CN¥951.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥498.1m | CN¥478.7m | CN¥433.3m | CN¥587.3m | CN¥719.6m | CN¥548.1m | CN¥410.1m | CN¥315.2m | CN¥313.4m | CN¥251.5m |
| Gross profit | CN¥115.6m | CN¥89.2m | CN¥71.6m | CN¥129.5m | CN¥201.3m | CN¥179.1m | CN¥126.9m | CN¥97.8m | CN¥110.8m | CN¥95.8m |
| Research and development | CN¥25.4m | CN¥26.4m | CN¥28.1m | CN¥38.9m | CN¥43.8m | CN¥33.0m | CN¥21.0m | CN¥16.0m | CN¥9.2m | CN¥8.8m |
| Operating income | CN¥33.9m | CN¥5.5m | CN¥1.3m | CN¥49.7m | CN¥104.2m | CN¥98.7m | CN¥69.0m | CN¥53.0m | CN¥55.5m | CN¥52.8m |
| Net income | CN¥22.7m | CN¥4.6m | −CN¥7.0m | CN¥48.6m | CN¥79.2m | CN¥77.1m | CN¥57.6m | CN¥45.8m | CN¥47.8m | CN¥42.6m |
| Diluted earnings per share | 0.11 | 0.01 | -0.03 | 0.22 | 0.38 | 0.39 | 0.31 | 0.23 | 0.32 | 0.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.15bn | CN¥1.13bn | CN¥1.12bn | CN¥1.15bn | CN¥1.26bn | CN¥943.6m | CN¥789.0m | CN¥614.3m | CN¥339.7m | CN¥280.1m |
| Cash and short-term investments | — | CN¥270.0m | CN¥277.4m | CN¥297.8m | CN¥372.9m | CN¥179.5m | CN¥161.2m | CN¥160.5m | CN¥62.3m | CN¥37.4m |
| Total liabilities | CN¥198.0m | CN¥368.3m | CN¥353.3m | CN¥443.0m | CN¥592.5m | CN¥263.0m | CN¥186.8m | CN¥118.0m | CN¥118.1m | CN¥106.2m |
| Debt | — | CN¥203.3m | CN¥209.8m | CN¥290.3m | CN¥376.5m | CN¥87.9m | CN¥35.2m | CN¥45.0m | CN¥31.0m | CN¥32.5m |
| Shareholders' equity | CN¥951.3m | CN¥764.8m | CN¥768.2m | CN¥707.3m | CN¥667.7m | CN¥599.8m | CN¥536.1m | CN¥496.2m | CN¥221.6m | CN¥173.9m |
| Shares outstanding | 208m | 563m | 203m | 224m | 210m | 198m | 187m | 200m | 148m | 208m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥45.2m | CN¥36.5m | CN¥72.5m | CN¥142.4m | CN¥34.3m | CN¥59.4m | CN¥65.0m | CN¥24.5m | CN¥57.1m | CN¥67.5m |
| Capital spending | −CN¥16.0m | −CN¥40.2m | −CN¥63.4m | −CN¥98.1m | −CN¥130.3m | −CN¥40.4m | −CN¥39.6m | −CN¥46.0m | −CN¥25.2m | −CN¥12.7m |
| Free cash flow | CN¥29.2m | −CN¥3.7m | CN¥9.1m | CN¥44.3m | −CN¥96.0m | CN¥19.0m | CN¥25.4m | −CN¥21.5m | CN¥31.9m | CN¥54.8m |
| Dividends paid | −CN¥14.6m | −CN¥23.9m | −CN¥2.8m | −CN¥19.9m | −CN¥21.3m | −CN¥13.3m | −CN¥17.8m | −CN¥1.1m | −CN¥1.3m | −CN¥37.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥139.2m | CN¥128.0m | CN¥125.0m | CN¥122.2m | CN¥130.3m | CN¥120.5m | CN¥137.9m | CN¥112.1m |
| Gross profit | CN¥22.3m | CN¥26.7m | CN¥31.4m | CN¥28.1m | CN¥29.6m | CN¥26.5m | CN¥24.2m | CN¥20.8m |
| Operating income | −CN¥1.2m | CN¥6.4m | CN¥10.3m | CN¥6.3m | CN¥9.2m | CN¥9.8m | CN¥4.5m | CN¥833,284 |
| Net income | −CN¥5.3m | CN¥3.3m | CN¥1.2m | CN¥6.2m | CN¥7.2m | CN¥8.1m | CN¥3.4m | CN¥524,845 |
| Diluted earnings per share | -0.03 | 0.02 | 0.01 | 0.03 | 0.03 | 0.04 | 0.01 | 0.00 |
| Cash from operations | — | — | — | CN¥11.0m | CN¥17.0m | −CN¥4.0m | — | CN¥6.0m |
| Capital spending | −CN¥2.0m | −CN¥6.0m | −CN¥3.0m | −CN¥3.0m | −CN¥1.0m | −CN¥7.0m | — | −CN¥6.0m |
| Free cash flow | — | — | — | CN¥8.0m | CN¥16.0m | −CN¥11.0m | — | CN¥0 |
| Total assets | CN¥1.17bn | CN¥1.08bn | CN¥1.15bn | CN¥1.13bn | CN¥1.15bn | CN¥1.13bn | CN¥1.13bn | CN¥1.09bn |
| Cash and short-term investments | — | — | — | CN¥291.3m | CN¥310.9m | CN¥283.6m | CN¥270.0m | CN¥249.3m |
| Debt | — | — | — | CN¥71.9m | CN¥68.0m | CN¥61.0m | CN¥203.3m | CN¥192.8m |
| Shareholders' equity | CN¥1.02bn | CN¥954.4m | CN¥951.3m | CN¥950.2m | CN¥944.1m | CN¥947.8m | CN¥764.8m | CN¥750.4m |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 23.2% | 18.6% | 16.5% | 22.1% | 28.0% | 32.7% | — |
| Operating margin | 6.8% | 1.2% | 0.3% | 8.5% | 14.5% | 18.0% | — |
| Net margin | 4.6% | 1.0% | -1.6% | 8.3% | 11.0% | 14.1% | — |
| Return on equity | 2.4% | 0.6% | -0.9% | 6.9% | 11.9% | 12.9% | — |
| Return on assets | 2.0% | 0.4% | -0.6% | 4.2% | 6.3% | 8.2% | — |
| Free cash flow yield | 0.7% | 0.3% | 1.7% | 2.7% | 1.9% | 1.2% | — |
| Revenue growth | 4.1% | 10.5% | -26.2% | -18.4% | 31.3% | 33.7% | — |
| Earnings growth | 394.0% | -165.2% | -114.5% | -38.7% | 2.7% | 33.9% | — |
| Current ratio | 3.29x | 2.91x | 2.91x | 2.67x | 2.37x | 2.41x | — |
| Debt to equity | — | 0.27x | 0.27x | 0.41x | 0.56x | 0.12x | 0.07x |
| Equity ratio | 82.8% | 67.5% | 68.5% | 61.5% | 53.0% | 63.6% | — |
| Interest coverage | 26.49x | 1.46x | 0.31x | 6.00x | 17.89x | 32.55x | — |
| R&D as a share of sales | 5.1% | 5.5% | 6.5% | 6.6% | 6.1% | 6.0% | — |
| Buybacks as a share of market value | 63.0% | -177.5% | 9.4% | -6.6% | -6.3% | -5.6% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.3% | -1.9% | 7.0% |
| Operating income | -12.0% | -19.2% | -2.7% |
| Net income | -22.4% | -21.7% | -5.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 21.0% | 20.3% | 24.1% | 27.3% |
| Operating margin | 4.0% | 4.5% | 9.0% | 11.8% |
| Net margin | 2.8% | 3.4% | 6.9% | 9.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | 290.6 | — | -441.7 | 46.1 | 37.4 | 33.0 | 42.9 | 63.8 |
| Price to sales | 13.2 | 19.1 | 7.2 | 3.8 | 4.1 | 4.6 | 6.0 | 9.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 4 Jul 2025.
| FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.10 | 0.10 | 0.107 | 0.107 | 0.089 |
- 7-for-5 split · 8 Jun 2021
- 8-for-5 split · 12 Jun 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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