Z 
4.35
-3.33%
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¥5.43bn
FY2019FY2025
Net income
CN¥313.5m
FY2019FY2025
Free cash flow
CN¥156.7m
FY2019FY2025
Shareholders' equity
CN¥955.9m
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.43bn | CN¥3.33bn | CN¥3.00bn | CN¥3.07bn | CN¥2.35bn | CN¥1.90bn | CN¥1.43bn |
| Gross profit | CN¥4.06bn | CN¥2.47bn | CN¥1.96bn | CN¥2.35bn | CN¥1.77bn | CN¥1.38bn | CN¥997.9m |
| Research and development | CN¥32.6m | CN¥38.3m | CN¥33.3m | CN¥19.9m | — | — | — |
| Operating income | CN¥317.5m | CN¥162.2m | −CN¥243.0m | CN¥142.2m | CN¥249.8m | CN¥141.1m | CN¥101.9m |
| Net income | CN¥313.5m | CN¥150.8m | −CN¥265.8m | CN¥110.7m | CN¥200.5m | CN¥114.0m | CN¥81.1m |
| Diluted earnings per share | 0.64 | 0.31 | -0.53 | 0.24 | 0.40 | 0.23 | 0.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.69bn | CN¥1.26bn | CN¥1.04bn | CN¥1.58bn | CN¥1.02bn | CN¥642.5m | CN¥474.9m |
| Cash and short-term investments | CN¥648.3m | CN¥521.4m | CN¥324.8m | CN¥343.0m | CN¥80.9m | CN¥88.8m | CN¥27.1m |
| Total liabilities | CN¥737.3m | CN¥558.2m | CN¥477.1m | CN¥667.8m | CN¥646.7m | CN¥470.0m | CN¥410.1m |
| Debt | CN¥236.6m | CN¥154.0m | CN¥193.4m | CN¥239.6m | CN¥356.2m | CN¥91.7m | CN¥105.2m |
| Shareholders' equity | CN¥955.9m | CN¥699.1m | CN¥563.4m | CN¥916.9m | CN¥373.0m | CN¥172.5m | CN¥64.8m |
| Shares outstanding | 486m | 491m | 499m | 469m | 500m | 500m | 500m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥159.7m | CN¥261.9m | CN¥89.4m | CN¥92.1m | −CN¥207.0m | CN¥114.1m | CN¥82.0m |
| Capital spending | −CN¥3.0m | −CN¥4.1m | −CN¥7.4m | −CN¥12.6m | −CN¥7.1m | −CN¥2.5m | −CN¥3.9m |
| Free cash flow | CN¥156.7m | CN¥257.8m | CN¥82.0m | CN¥79.5m | −CN¥214.2m | CN¥111.7m | CN¥78.0m |
| Dividends paid | −CN¥60.7m | — | −CN¥26.6m | — | — | — | −CN¥92.8m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.25bn | CN¥3.14bn | CN¥2.28bn | CN¥1.86bn | CN¥1.46bn | CN¥1.62bn | CN¥1.60bn | CN¥2.08bn |
| Gross profit | CN¥2.40bn | CN¥2.34bn | CN¥1.72bn | CN¥1.39bn | CN¥1.08bn | CN¥954.0m | CN¥1.17bn | CN¥1.61bn |
| Operating income | CN¥242.9m | CN¥188.7m | CN¥128.8m | CN¥64.5m | CN¥97.7m | −CN¥253.6m | CN¥7.9m | CN¥66.8m |
| Net income | CN¥158.1m | CN¥190.2m | CN¥123.3m | CN¥59.4m | CN¥91.4m | −CN¥276.1m | CN¥12.0m | CN¥57.5m |
| Diluted earnings per share | 0.33 | 0.39 | 0.25 | 0.12 | 0.19 | -0.55 | 0.02 | 0.12 |
| Cash from operations | −CN¥74.0m | CN¥234.0m | −CN¥72.0m | CN¥131.0m | CN¥130.0m | CN¥22.0m | CN¥66.0m | CN¥93.0m |
| Capital spending | −CN¥5.0m | −CN¥1.0m | −CN¥1.0m | −CN¥2.0m | −CN¥1.0m | −CN¥3.0m | −CN¥2.0m | −CN¥4.0m |
| Free cash flow | −CN¥79.0m | CN¥233.0m | −CN¥73.0m | CN¥129.0m | CN¥129.0m | CN¥19.0m | CN¥64.0m | CN¥89.0m |
| Total assets | CN¥1.99bn | CN¥1.69bn | CN¥1.46bn | CN¥1.08bn | CN¥930.4m | CN¥893.4m | CN¥1.56bn | CN¥1.58bn |
| Cash and short-term investments | CN¥415.0m | CN¥648.3m | CN¥405.2m | CN¥447.7m | CN¥372.1m | CN¥278.9m | CN¥366.3m | CN¥343.0m |
| Debt | CN¥233.2m | CN¥236.6m | CN¥227.8m | CN¥154.0m | CN¥191.5m | CN¥193.4m | CN¥205.0m | CN¥228.2m |
| Shareholders' equity | CN¥993.1m | CN¥955.9m | CN¥750.4m | CN¥600.3m | CN¥558.3m | CN¥483.7m | CN¥903.4m | CN¥916.9m |
Financial ratios
Data as of 3 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 74.8% | 74.3% | 65.2% | 76.6% | 75.2% | 72.6% |
| Operating margin | 5.9% | 4.1% | -7.9% | 4.6% | 11.9% | 7.8% |
| Net margin | 5.8% | 4.5% | -8.9% | 3.6% | 8.5% | 6.0% |
| Return on equity | 32.8% | 25.1% | -54.9% | 14.1% | 53.8% | 66.1% |
| Return on assets | 18.5% | 14.0% | -29.7% | 8.1% | 19.7% | 17.7% |
| Free cash flow yield | 6.1% | 11.5% | 3.3% | 4.2% | -8.9% | 4.9% |
| Revenue growth | 40.2% | 10.8% | -2.2% | 30.7% | 23.6% | 32.8% |
| Earnings growth | 78.6% | -156.7% | -340.1% | -44.8% | 75.9% | 40.5% |
| Current ratio | 2.26x | 2.21x | 2.10x | 2.37x | 1.54x | 1.30x |
| Debt to equity | 0.25x | 0.24x | 0.38x | 0.25x | 0.60x | 0.48x |
| Equity ratio | 56.5% | 55.6% | 54.1% | 57.9% | 36.6% | 26.8% |
| Interest coverage | 44.53x | 17.97x | -25.35x | 9.99x | 39.53x | 11.10x |
| R&D as a share of sales | 0.6% | 1.2% | 1.1% | 0.6% | — | — |
| Buybacks as a share of market value | 0.9% | 1.7% | -6.4% | 6.1% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.0% | 23.4% | — |
| Operating income | 30.7% | 17.6% | — |
| Net income | 41.5% | 22.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 74.6% | 73.1% | 73.3% | — |
| Operating margin | 5.5% | 2.6% | 4.0% | — |
| Net margin | 5.3% | 2.1% | 3.3% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 5.8 | 14.8 | -9.3 | 23.1 |
| Price to sales | 0.3 | 0.7 | 0.8 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 8 May 2025.
| FY2025 | FY2023 | |
|---|---|---|
| Paid in the year | 0.12 | 0.05 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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