U 
3.45
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Close of 9 Nov 2026, in HKD
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥13.16bn
FY2018FY2025
Net income
CN¥164.5m
FY2018FY2025
Free cash flow
−CN¥574.7m
FY2018FY2025
Shareholders' equity
CN¥1.83bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥13.16bn | CN¥9.15bn | CN¥7.08bn | CN¥8.34bn | CN¥7.84bn | CN¥6.36bn | CN¥3.45bn | CN¥1.16bn |
| Gross profit | CN¥422.6m | CN¥298.5m | CN¥286.0m | CN¥219.8m | CN¥429.4m | CN¥325.4m | CN¥239.3m | CN¥106.7m |
| Research and development | CN¥13.3m | CN¥9.6m | CN¥8.8m | CN¥17.5m | CN¥13.7m | CN¥4.4m | — | — |
| Operating income | CN¥235.6m | CN¥115.5m | CN¥125.5m | CN¥164.8m | CN¥356.9m | CN¥205.6m | CN¥199.1m | CN¥73.0m |
| Net income | CN¥164.5m | CN¥93.9m | CN¥90.6m | CN¥113.6m | CN¥254.4m | CN¥133.2m | CN¥81.9m | CN¥50.1m |
| Diluted earnings per share | 0.28 | 0.16 | 0.15 | 0.19 | 0.49 | 0.29 | 0.14 | 0.08 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥5.99bn | CN¥4.60bn | CN¥3.44bn | CN¥3.99bn | CN¥3.99bn | CN¥2.85bn | CN¥1.58bn | CN¥791.5m |
| Cash and short-term investments | CN¥975.4m | CN¥784.0m | CN¥719.4m | CN¥295.1m | CN¥604.2m | CN¥230.1m | CN¥159.1m | CN¥117.4m |
| Total liabilities | CN¥4.16bn | CN¥3.14bn | CN¥2.06bn | CN¥2.67bn | CN¥2.55bn | CN¥2.58bn | CN¥1.46bn | CN¥727.9m |
| Debt | CN¥949.1m | CN¥257.4m | CN¥21.1m | CN¥360.0m | CN¥316.7m | CN¥234.0m | CN¥301.9m | CN¥97.4m |
| Shareholders' equity | CN¥1.83bn | CN¥1.45bn | CN¥1.38bn | CN¥1.32bn | CN¥1.44bn | CN¥270.8m | CN¥121.1m | CN¥63.6m |
| Shares outstanding | 591m | 591m | 591m | 600m | 516m | 462m | 600m | 600m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥567.2m | −CN¥29.9m | CN¥812.2m | −CN¥218.5m | −CN¥310.2m | CN¥210.5m | −CN¥166.2m | −CN¥47.1m |
| Capital spending | −CN¥7.5m | −CN¥1.3m | −CN¥2.3m | −CN¥15.3m | −CN¥5.9m | −CN¥11.2m | −CN¥3.5m | −CN¥1.3m |
| Free cash flow | −CN¥574.7m | −CN¥31.2m | CN¥809.9m | −CN¥233.8m | −CN¥316.1m | CN¥199.3m | −CN¥169.8m | −CN¥48.4m |
| Dividends paid | −CN¥26.1m | −CN¥27.2m | −CN¥11.1m | −CN¥50.2m | −CN¥93.2m | −CN¥8.3m | −CN¥7.1m | −CN¥7.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.72bn | CN¥7.30bn | CN¥5.86bn | CN¥5.29bn | CN¥3.87bn | CN¥3.47bn | CN¥3.61bn | CN¥4.11bn |
| Gross profit | CN¥202.4m | CN¥228.7m | CN¥193.9m | CN¥142.2m | CN¥156.3m | CN¥139.6m | CN¥156.6m | CN¥16.3m |
| Operating income | CN¥121.4m | CN¥130.1m | CN¥105.5m | CN¥65.5m | CN¥50.0m | CN¥57.8m | CN¥67.7m | CN¥52.0m |
| Net income | CN¥96.9m | CN¥87.1m | CN¥77.4m | CN¥50.5m | CN¥43.4m | CN¥48.7m | CN¥41.9m | −CN¥6.4m |
| Diluted earnings per share | 0.16 | 0.15 | 0.13 | 0.09 | 0.07 | 0.08 | 0.07 | -0.01 |
| Cash from operations | — | −CN¥494.0m | −CN¥72.0m | CN¥210.0m | −CN¥240.0m | CN¥364.0m | CN¥447.0m | −CN¥107.0m |
| Capital spending | — | −CN¥5.0m | −CN¥2.0m | −CN¥1.0m | — | — | — | −CN¥14.0m |
| Free cash flow | — | −CN¥499.0m | −CN¥74.0m | CN¥209.0m | — | — | — | −CN¥121.0m |
| Total assets | CN¥4.79bn | CN¥5.99bn | CN¥5.91bn | CN¥4.60bn | CN¥4.00bn | CN¥4.02bn | CN¥3.52bn | CN¥3.99bn |
| Cash and short-term investments | CN¥797.0m | CN¥975.4m | CN¥840.2m | CN¥784.0m | CN¥409.3m | CN¥840.0m | CN¥662.4m | CN¥295.1m |
| Debt | CN¥991.4m | CN¥949.1m | CN¥601.4m | CN¥492.4m | CN¥307.0m | CN¥194.2m | CN¥327.4m | CN¥360.0m |
| Shareholders' equity | CN¥1.88bn | CN¥1.83bn | CN¥1.74bn | CN¥1.45bn | CN¥1.40bn | CN¥1.61bn | CN¥1.34bn | CN¥1.32bn |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 3.2% | 3.3% | 4.0% | 2.6% | 5.5% | 5.1% |
| Operating margin | 1.8% | 1.3% | 2.0% | 2.0% | 4.6% | 3.2% |
| Net margin | 1.2% | 1.0% | 1.3% | 1.4% | 3.2% | 2.1% |
| Return on equity | 9.0% | 6.5% | 6.5% | 8.6% | 20.6% | 57.4% |
| Return on assets | 2.7% | 2.0% | 2.6% | 2.8% | 7.4% | 5.5% |
| Free cash flow yield | -22.8% | -1.4% | 38.7% | -9.5% | -16.5% | 11.5% |
| Revenue growth | 23.2% | 29.4% | -15.1% | 6.3% | 23.3% | 84.3% |
| Earnings growth | 50.1% | 3.7% | -20.3% | -55.3% | 91.0% | 62.6% |
| Current ratio | 1.42x | 1.44x | 1.65x | 1.48x | 1.54x | 1.08x |
| Debt to equity | 0.52x | 0.34x | 0.12x | 0.26x | 0.25x | 0.99x |
| Equity ratio | 30.5% | 31.6% | 40.2% | 33.2% | 36.1% | 9.5% |
| Interest coverage | 11.26x | 5.77x | 6.64x | 7.96x | 13.76x | 7.44x |
| R&D as a share of sales | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% | 0.1% |
| Buybacks as a share of market value | 0.0% | 0.0% | 1.5% | -16.3% | -11.6% | 23.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 16.4% | 15.7% | — |
| Operating income | 12.7% | 2.8% | — |
| Net income | 13.1% | 4.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 3.2% | 3.3% | 3.8% | — |
| Operating margin | 1.6% | 1.7% | 2.3% | — |
| Net margin | 1.2% | 1.2% | 1.6% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 13.1 | 6.2 | 10.9 | 16.0 | 11.9 |
| Price to sales | 0.2 | 0.1 | 0.1 | 0.2 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 3 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Paid in the year | 0.043 | 0.04 | 0.05 | 0.02 | 0.10 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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