C 
9.03
-1.85%
Close of 9 Nov 2026, in HKD
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥29.54bn
FY2016FY2025
Net income
CN¥1.09bn
FY2016FY2025
Free cash flow
−CN¥3.08bn
FY2016FY2025
Shareholders' equity
CN¥11.36bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥29.54bn | CN¥23.13bn | CN¥23.48bn | CN¥23.07bn | CN¥19.78bn | CN¥12.17bn | CN¥10.40bn | CN¥10.71bn | CN¥8.81bn | CN¥6.65bn |
| Gross profit | CN¥4.43bn | CN¥3.93bn | CN¥4.17bn | CN¥4.35bn | CN¥5.11bn | CN¥2.58bn | CN¥2.26bn | CN¥2.61bn | CN¥1.85bn | CN¥1.19bn |
| Operating income | CN¥1.97bn | CN¥1.88bn | CN¥2.25bn | CN¥2.71bn | CN¥3.11bn | CN¥1.12bn | CN¥1.03bn | CN¥1.28bn | CN¥894.1m | CN¥312.1m |
| Net income | CN¥1.09bn | CN¥1.46bn | CN¥1.19bn | CN¥1.33bn | CN¥1.51bn | CN¥405.1m | CN¥368.8m | CN¥728.1m | CN¥463.5m | CN¥35.1m |
| Diluted earnings per share | 0.86 | 1.16 | 0.97 | 1.11 | 1.29 | 0.35 | 0.31 | 0.62 | 0.40 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥45.18bn | CN¥37.89bn | CN¥33.94bn | CN¥32.47bn | CN¥29.72bn | CN¥24.42bn | CN¥19.21bn | CN¥15.91bn | CN¥13.87bn | CN¥12.72bn |
| Cash and short-term investments | CN¥1.81bn | CN¥1.04bn | CN¥1.36bn | CN¥1.73bn | CN¥1.06bn | CN¥813.4m | CN¥1.05bn | CN¥446.6m | CN¥440.9m | CN¥602.4m |
| Total liabilities | CN¥29.48bn | CN¥23.30bn | CN¥21.70bn | CN¥21.32bn | CN¥20.44bn | CN¥16.93bn | CN¥12.55bn | CN¥10.19bn | CN¥9.62bn | CN¥8.90bn |
| Debt | CN¥20.53bn | CN¥13.07bn | CN¥11.76bn | CN¥12.71bn | CN¥11.93bn | CN¥11.05bn | CN¥8.43bn | CN¥6.39bn | CN¥6.21bn | CN¥5.91bn |
| Shareholders' equity | CN¥11.36bn | CN¥10.44bn | CN¥8.96bn | CN¥8.02bn | CN¥6.63bn | CN¥5.28bn | CN¥4.93bn | CN¥4.57bn | CN¥3.92bn | CN¥3.54bn |
| Shares outstanding | 1,263m | 1,261m | 1,230m | 1,190m | 1,172m | 1,172m | 1,172m | 1,172m | 1,167m | 1,176m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥3.93bn | CN¥3.35bn | CN¥6.20bn | CN¥5.11bn | CN¥3.20bn | CN¥1.99bn | CN¥2.68bn | CN¥1.39bn | CN¥788.9m | CN¥425.1m |
| Capital spending | −CN¥7.01bn | −CN¥4.87bn | −CN¥4.04bn | −CN¥4.39bn | −CN¥4.49bn | −CN¥4.58bn | −CN¥3.35bn | −CN¥1.87bn | −CN¥1.60bn | −CN¥950.0m |
| Free cash flow | −CN¥3.08bn | −CN¥1.52bn | CN¥2.17bn | CN¥713.8m | −CN¥1.30bn | −CN¥2.59bn | −CN¥665.5m | −CN¥476.9m | −CN¥816.0m | −CN¥524.9m |
| Dividends paid | −CN¥373.2m | −CN¥290.7m | −CN¥373.7m | −CN¥283.6m | −CN¥135.4m | −CN¥109.2m | −CN¥138.8m | −CN¥99.4m | −CN¥46.6m | −CN¥96.7m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥18.09bn | CN¥14.78bn | CN¥14.76bn | CN¥11.07bn | CN¥6.45bn | CN¥12.06bn | CN¥7.03bn | CN¥11.42bn |
| Gross profit | CN¥3.49bn | CN¥2.05bn | CN¥2.38bn | CN¥1.58bn | CN¥917.7m | CN¥2.36bn | CN¥1.37bn | CN¥2.06bn |
| Operating income | CN¥1.87bn | CN¥867.5m | CN¥1.10bn | CN¥603.9m | CN¥351.8m | CN¥1.28bn | CN¥743.4m | CN¥1.09bn |
| Net income | CN¥1.06bn | CN¥387.7m | CN¥698.3m | CN¥772.5m | CN¥450.0m | CN¥687.0m | CN¥400.2m | CN¥640.7m |
| Diluted earnings per share | 0.85 | 0.31 | 0.55 | 0.61 | 0.36 | 0.54 | 0.32 | 0.52 |
| Cash from operations | — | CN¥1.90bn | CN¥1.45bn | CN¥1.27bn | — | CN¥2.08bn | CN¥1.21bn | CN¥3.17bn |
| Capital spending | — | −CN¥3.79bn | −CN¥2.98bn | −CN¥2.96bn | — | −CN¥1.89bn | −CN¥1.10bn | −CN¥1.68bn |
| Free cash flow | — | −CN¥1.89bn | −CN¥1.53bn | −CN¥1.68bn | — | CN¥181.0m | CN¥105.0m | CN¥1.49bn |
| Total assets | CN¥51.33bn | CN¥45.18bn | CN¥41.99bn | CN¥32.52bn | CN¥37.89bn | CN¥31.28bn | CN¥36.45bn | CN¥33.94bn |
| Cash and short-term investments | CN¥3.48bn | CN¥1.81bn | CN¥2.76bn | CN¥895.1m | CN¥2.50bn | CN¥2.23bn | CN¥2.60bn | CN¥1.36bn |
| Debt | CN¥5.14bn | CN¥20.53bn | CN¥18.35bn | CN¥13.07bn | CN¥6.14bn | CN¥12.34bn | CN¥5.85bn | CN¥13.70bn |
| Shareholders' equity | CN¥12.42bn | CN¥11.36bn | CN¥11.13bn | CN¥8.96bn | CN¥10.44bn | CN¥8.15bn | CN¥9.50bn | CN¥8.96bn |
Financial ratios
Data as of 2 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2008 | FY2007 | FY2006 | FY2005 | FY2004 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 15.0% | 17.0% | 17.8% | 18.8% | 25.9% | 21.2% | — | — | — | — | — |
| Operating margin | 6.7% | 8.1% | 9.6% | 11.7% | 15.7% | 9.2% | — | — | — | — | — |
| Net margin | 3.7% | 6.3% | 5.1% | 5.7% | 7.6% | 3.3% | — | — | — | — | — |
| Return on equity | 9.6% | 16.3% | 15.4% | 19.3% | 22.8% | 7.7% | — | — | — | — | — |
| Return on assets | 2.4% | 4.5% | 4.1% | 4.8% | 5.1% | 1.7% | — | — | — | — | — |
| Free cash flow yield | 72.2% | 63.3% | 69.4% | 66.5% | 54.7% | 46.7% | — | — | — | — | — |
| Revenue growth | 9.6% | -1.5% | 1.7% | 35.9% | 62.5% | 17.0% | — | — | — | — | — |
| Earnings growth | -36.1% | 23.0% | -10.5% | 2.4% | 272.6% | 9.8% | — | — | — | — | — |
| Current ratio | 0.62x | 0.55x | 0.53x | 0.59x | 0.51x | 0.49x | — | — | — | — | — |
| Debt to equity | 1.79x | 1.45x | 1.50x | 1.84x | 2.09x | 2.18x | — | — | — | — | — |
| Equity ratio | 25.1% | 27.6% | 26.4% | 24.7% | 22.3% | 21.6% | — | — | — | — | — |
| Interest coverage | 3.53x | 3.80x | 3.88x | 4.09x | 4.58x | 2.40x | — | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.0% | 0.1% | 0.2% | 0.3% | 0.4% |
| Buybacks as a share of market value | -0.2% | -2.6% | -3.3% | -1.6% | 0.0% | 0.0% | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.6% | 19.4% | 15.9% |
| Operating income | -10.1% | 12.0% | 9.1% |
| Net income | -6.4% | 21.8% | 8.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 15.9% | 17.0% | 18.7% | 19.5% |
| Operating margin | 7.3% | 8.9% | 9.9% | 10.0% |
| Net margin | 4.8% | 5.1% | 5.3% | 5.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.0 | 3.1 | 3.1 | 3.2 | 3.6 | 6.3 | 6.6 | 3.6 | 7.3 | 71.7 |
| Price to sales | 0.3 | 0.2 | 0.2 | 0.2 | 0.3 | 0.2 | 0.2 | 0.2 | 0.4 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 16 years. Last went ex-dividend on 3 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.32 | 0.275 | 0.264 | 0.287 | 0.233 | 0.119 | 0.087 | 0.116 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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