S 
18.30
-1.03%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥63.25bn
FY2016FY2025
Net income
CN¥1.06bn
FY2016FY2025
Free cash flow
−CN¥4.78bn
FY2016FY2025
Shareholders' equity
CN¥24.47bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥63.25bn | CN¥56.02bn | CN¥47.86bn | CN¥52.16bn | CN¥37.36bn | CN¥29.69bn | CN¥25.24bn | CN¥20.34bn | CN¥14.04bn | CN¥8.05bn |
| Gross profit | CN¥8.82bn | CN¥8.20bn | CN¥6.12bn | CN¥6.60bn | CN¥5.32bn | CN¥4.13bn | CN¥3.74bn | CN¥2.92bn | CN¥1.96bn | CN¥1.18bn |
| Research and development | CN¥4.38bn | CN¥3.33bn | CN¥2.71bn | CN¥2.74bn | CN¥2.33bn | CN¥1.81bn | CN¥1.52bn | CN¥1.06bn | CN¥647.1m | CN¥306.3m |
| Operating income | CN¥310.3m | CN¥798.2m | CN¥169.1m | CN¥915.9m | CN¥987.4m | CN¥977.3m | CN¥1.05bn | CN¥782.1m | CN¥688.0m | CN¥487.0m |
| Net income | CN¥1.06bn | CN¥1.47bn | CN¥1.08bn | CN¥1.07bn | CN¥915.7m | CN¥802.0m | CN¥751.0m | CN¥701.4m | CN¥543.8m | CN¥449.9m |
| Diluted earnings per share | 0.58 | 0.79 | 0.58 | 0.62 | 0.48 | 0.53 | 0.47 | 0.47 | 0.41 | 0.36 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥108.07bn | CN¥87.32bn | CN¥79.26bn | CN¥74.50bn | CN¥42.63bn | CN¥31.16bn | CN¥23.59bn | CN¥18.68bn | CN¥13.06bn | CN¥8.33bn |
| Cash and short-term investments | — | CN¥18.05bn | CN¥18.84bn | CN¥19.46bn | CN¥8.37bn | CN¥4.61bn | CN¥4.67bn | CN¥3.82bn | CN¥1.87bn | CN¥1.54bn |
| Total liabilities | CN¥77.00bn | CN¥55.40bn | CN¥46.82bn | CN¥48.18bn | CN¥28.88bn | CN¥24.05bn | CN¥17.60bn | CN¥13.28bn | CN¥9.97bn | CN¥5.89bn |
| Debt | — | CN¥24.08bn | CN¥22.06bn | CN¥19.59bn | CN¥15.73bn | CN¥12.66bn | CN¥9.79bn | CN¥7.50bn | CN¥5.45bn | CN¥2.81bn |
| Shareholders' equity | CN¥24.47bn | CN¥23.73bn | CN¥23.12bn | CN¥20.06bn | CN¥13.03bn | CN¥6.79bn | CN¥5.77bn | CN¥5.36bn | CN¥2.91bn | CN¥2.28bn |
| Shares outstanding | 1,832m | 1,859m | 1,862m | 1,734m | 1,898m | 1,504m | 1,608m | 1,488m | 1,337m | 1,263m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥3.63bn | CN¥3.29bn | CN¥3.62bn | CN¥558.8m | CN¥1.63bn | CN¥244.1m | CN¥743.8m | CN¥1.10bn | −CN¥150.5m | CN¥1.05bn |
| Capital spending | −CN¥8.41bn | −CN¥6.19bn | −CN¥5.90bn | −CN¥9.09bn | −CN¥3.86bn | −CN¥3.36bn | −CN¥3.08bn | −CN¥2.09bn | −CN¥1.59bn | −CN¥658.1m |
| Free cash flow | −CN¥4.78bn | −CN¥2.90bn | −CN¥2.28bn | −CN¥8.53bn | −CN¥2.23bn | −CN¥3.12bn | −CN¥2.34bn | −CN¥989.5m | −CN¥1.74bn | CN¥390.1m |
| Dividends paid | −CN¥964.5m | −CN¥755.3m | −CN¥149.0m | −CN¥748.7m | −CN¥555.5m | −CN¥414.0m | −CN¥521.1m | −CN¥509.6m | −CN¥139.8m | −CN¥89.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥22.06bn | CN¥16.12bn | CN¥19.71bn | CN¥16.55bn | CN¥14.70bn | CN¥12.29bn | CN¥17.74bn | CN¥14.36bn |
| Gross profit | CN¥2.96bn | CN¥2.89bn | CN¥1.49bn | CN¥3.07bn | CN¥1.97bn | CN¥2.07bn | CN¥2.07bn | CN¥2.44bn |
| Operating income | CN¥553.3m | CN¥615.4m | −CN¥957.5m | CN¥617.7m | CN¥282.3m | CN¥200.6m | CN¥108.0m | CN¥209.0m |
| Net income | CN¥488.6m | CN¥114.0m | −CN¥348.2m | CN¥549.6m | CN¥469.5m | CN¥386.3m | CN¥256.0m | CN¥388.4m |
| Diluted earnings per share | 0.27 | 0.06 | -0.19 | 0.30 | 0.26 | 0.21 | 0.14 | 0.21 |
| Cash from operations | — | — | — | CN¥1.47bn | −CN¥491.0m | CN¥1.53bn | CN¥673.0m | CN¥897.0m |
| Capital spending | −CN¥2.97bn | −CN¥2.32bn | −CN¥2.73bn | −CN¥1.51bn | −CN¥2.23bn | −CN¥1.94bn | −CN¥1.58bn | −CN¥1.35bn |
| Free cash flow | — | — | — | −CN¥40.0m | −CN¥2.72bn | −CN¥415.0m | −CN¥904.0m | −CN¥449.0m |
| Total assets | CN¥125.29bn | CN¥115.57bn | CN¥108.07bn | CN¥100.44bn | CN¥92.25bn | CN¥90.32bn | CN¥87.32bn | CN¥85.25bn |
| Cash and short-term investments | — | — | — | CN¥22.32bn | CN¥18.34bn | CN¥20.60bn | CN¥18.05bn | CN¥17.95bn |
| Debt | CN¥12.76bn | CN¥13.61bn | CN¥9.02bn | CN¥26.25bn | CN¥19.81bn | CN¥18.98bn | CN¥15.72bn | CN¥16.09bn |
| Shareholders' equity | CN¥24.16bn | CN¥24.64bn | CN¥24.47bn | CN¥24.95bn | CN¥24.30bn | CN¥24.13bn | CN¥23.73bn | CN¥23.55bn |
Financial ratios
Data as of 18 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 13.9% | 14.6% | 12.8% | 12.6% | 14.2% | 13.9% |
| Operating margin | 0.5% | 1.4% | 0.4% | 1.8% | 2.6% | 3.3% |
| Net margin | 1.7% | 2.6% | 2.2% | 2.0% | 2.5% | 2.7% |
| Return on equity | 4.3% | 6.2% | 4.7% | 5.3% | 7.0% | 11.8% |
| Return on assets | 1.0% | 1.7% | 1.4% | 1.4% | 2.1% | 2.6% |
| Free cash flow yield | 32.5% | 25.2% | 25.3% | 27.5% | 14.3% | 11.8% |
| Revenue growth | 12.9% | 17.0% | -8.2% | 39.6% | 25.8% | 17.6% |
| Earnings growth | -28.0% | 36.4% | 0.8% | 16.6% | 14.2% | 6.8% |
| Current ratio | 1.02x | 1.12x | 1.27x | 1.16x | 1.10x | 0.99x |
| Debt to equity | 0.37x | 0.66x | 0.69x | 0.62x | 0.73x | 1.45x |
| Equity ratio | 22.6% | 27.2% | 29.2% | 26.9% | 30.6% | 21.8% |
| Interest coverage | 0.40x | 1.13x | 0.23x | 1.26x | 1.68x | 2.06x |
| R&D as a share of sales | 6.9% | 5.9% | 5.7% | 5.3% | 6.2% | 6.1% |
| Buybacks as a share of market value | 1.4% | 0.2% | -7.4% | 8.7% | -26.2% | 6.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.6% | 16.3% | 25.6% |
| Operating income | -30.3% | -20.5% | -1.8% |
| Net income | -0.3% | 5.7% | 12.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 14.3% | 13.6% | 13.7% | 13.9% |
| Operating margin | 0.9% | 1.0% | 1.5% | 2.1% |
| Net margin | 2.1% | 2.1% | 2.2% | 2.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 45.3 | 28.2 | 25.5 | 34.3 | 87.4 | 57.6 | 41.8 | 18.2 | 24.0 | 39.0 |
| Price to sales | 0.8 | 0.7 | 0.6 | 0.7 | 2.1 | 1.6 | 1.2 | 0.6 | 0.9 | 2.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 14 years. Last went ex-dividend on 24 Oct 2025.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.09 | 0.21 | 0.12 | 0.08 | 0.07 | 0.07 | 0.07 | 0.13 |
- 2-for-1 split · 23 Sept 2016
- 5-for-2 split · 28 Apr 2015
- 13-for-10 split · 21 May 2012
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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