Z 
12.01
-0.33%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.24bn
FY2016FY2025
Net income
CN¥62.5m
FY2016FY2025
Free cash flow
−CN¥24.3m
FY2016FY2025
Shareholders' equity
CN¥2.50bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.24bn | CN¥2.02bn | CN¥1.52bn | CN¥1.51bn | CN¥1.15bn | CN¥1.05bn | CN¥1.08bn | CN¥1.31bn | CN¥1.27bn | CN¥955.4m |
| Gross profit | CN¥561.1m | CN¥542.2m | CN¥422.7m | CN¥457.0m | CN¥390.8m | CN¥358.7m | CN¥312.5m | CN¥435.4m | CN¥471.4m | CN¥390.5m |
| Research and development | CN¥173.2m | CN¥165.2m | CN¥132.3m | CN¥106.9m | CN¥95.0m | CN¥88.2m | CN¥108.6m | CN¥79.3m | CN¥62.3m | CN¥54.3m |
| Operating income | CN¥77.7m | CN¥134.8m | CN¥104.0m | CN¥157.0m | CN¥124.6m | CN¥113.3m | −CN¥416.8m | CN¥33.5m | CN¥201.4m | CN¥181.2m |
| Net income | CN¥62.5m | CN¥125.8m | CN¥101.1m | CN¥154.7m | CN¥122.2m | CN¥105.0m | −CN¥429.8m | −CN¥458.7m | CN¥172.4m | CN¥161.4m |
| Diluted earnings per share | 0.16 | 0.32 | 0.26 | 0.39 | 0.32 | 0.27 | -1.20 | -1.12 | 0.46 | 0.40 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.90bn | CN¥3.57bn | CN¥3.20bn | CN¥3.04bn | CN¥2.68bn | CN¥2.51bn | CN¥2.41bn | CN¥2.89bn | CN¥3.36bn | CN¥3.11bn |
| Cash and short-term investments | — | CN¥512.8m | CN¥683.9m | CN¥775.6m | CN¥802.8m | CN¥638.4m | CN¥438.0m | CN¥270.8m | CN¥252.7m | CN¥544.2m |
| Total liabilities | CN¥2.33bn | CN¥1.07bn | CN¥837.1m | CN¥764.2m | CN¥532.8m | CN¥481.4m | CN¥486.9m | CN¥494.0m | CN¥464.8m | CN¥407.3m |
| Debt | CN¥950.8m | CN¥8.0m | CN¥6.5m | CN¥13.3m | CN¥15.0m | CN¥3.4m | CN¥13.3m | CN¥58.6m | CN¥25.5m | CN¥29.0m |
| Shareholders' equity | CN¥2.50bn | CN¥2.44bn | CN¥2.32bn | CN¥2.24bn | CN¥2.10bn | CN¥1.98bn | CN¥1.88bn | CN¥2.33bn | CN¥2.81bn | CN¥2.67bn |
| Shares outstanding | 389m | 393m | 386m | 396m | 383m | 384m | 359m | 408m | 378m | 405m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥227.8m | CN¥165.1m | CN¥151.3m | CN¥73.5m | CN¥90.8m | CN¥109.5m | −CN¥13.7m | CN¥152.8m | −CN¥37.2m | CN¥39.2m |
| Capital spending | −CN¥252.1m | −CN¥306.5m | −CN¥241.6m | −CN¥69.8m | −CN¥48.2m | −CN¥43.8m | −CN¥46.2m | −CN¥94.0m | −CN¥74.1m | −CN¥151.7m |
| Free cash flow | −CN¥24.3m | −CN¥141.4m | −CN¥90.3m | CN¥3.6m | CN¥42.6m | CN¥65.6m | −CN¥59.9m | CN¥58.8m | −CN¥111.4m | −CN¥112.5m |
| Dividends paid | −CN¥24.5m | −CN¥38.7m | — | — | — | −CN¥7.2m | −CN¥9.8m | −CN¥33.0m | −CN¥27.0m | −CN¥21.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥662.6m | CN¥474.0m | CN¥656.3m | CN¥559.2m | CN¥580.7m | CN¥445.9m | CN¥649.2m | CN¥519.9m |
| Gross profit | CN¥143.0m | CN¥94.9m | CN¥160.2m | CN¥134.7m | CN¥160.5m | CN¥105.8m | CN¥144.4m | CN¥166.7m |
| Operating income | CN¥21.3m | −CN¥6.3m | CN¥758,579 | CN¥15.6m | CN¥39.3m | CN¥25.5m | CN¥28.5m | CN¥32.1m |
| Net income | CN¥5.8m | −CN¥21.7m | −CN¥8.7m | CN¥16.4m | CN¥31.5m | CN¥23.3m | CN¥25.1m | CN¥27.7m |
| Diluted earnings per share | 0.01 | -0.06 | -0.02 | 0.04 | 0.08 | 0.06 | 0.06 | 0.07 |
| Cash from operations | — | — | — | CN¥5.0m | CN¥108.0m | −CN¥55.0m | CN¥121.0m | −CN¥7.0m |
| Capital spending | −CN¥34.0m | −CN¥26.0m | −CN¥101.0m | −CN¥53.0m | −CN¥47.0m | −CN¥49.0m | −CN¥105.0m | −CN¥61.0m |
| Free cash flow | — | — | — | −CN¥48.0m | CN¥61.0m | −CN¥104.0m | CN¥16.0m | −CN¥68.0m |
| Total assets | CN¥4.90bn | CN¥4.77bn | CN¥4.90bn | CN¥4.79bn | CN¥4.70bn | CN¥4.49bn | CN¥3.57bn | CN¥3.30bn |
| Cash and short-term investments | — | — | — | CN¥1.53bn | CN¥1.56bn | CN¥1.38bn | CN¥512.8m | CN¥494.0m |
| Debt | CN¥966.8m | CN¥957.7m | CN¥950.8m | CN¥382.1m | CN¥1.10bn | CN¥941.1m | CN¥10,000 | CN¥80,800 |
| Shareholders' equity | CN¥2.48bn | CN¥2.47bn | CN¥2.50bn | CN¥2.52bn | CN¥2.50bn | CN¥2.50bn | CN¥2.44bn | CN¥2.39bn |
Financial ratios
Data as of 11 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 25.0% | 26.8% | 27.8% | 30.3% | 34.0% | 34.0% |
| Operating margin | 4.3% | 5.4% | 4.2% | 8.1% | 8.9% | 7.9% |
| Net margin | 2.8% | 6.2% | 6.7% | 10.2% | 10.6% | 10.0% |
| Return on equity | 2.5% | 5.1% | 4.4% | 6.9% | 5.8% | 5.3% |
| Return on assets | 1.3% | 3.5% | 3.2% | 5.1% | 4.6% | 4.2% |
| Free cash flow yield | 9.3% | 9.0% | 7.7% | 2.7% | 2.7% | 3.0% |
| Revenue growth | 11.0% | 33.0% | 0.5% | 31.4% | 9.1% | -2.5% |
| Earnings growth | -50.3% | 24.5% | -34.7% | 26.6% | 16.4% | -124.4% |
| Current ratio | 2.81x | 2.38x | 2.90x | 3.25x | 4.11x | 4.26x |
| Debt to equity | 0.38x | 0.00x | 0.00x | 0.00x | 0.00x | 0.01x |
| Equity ratio | 51.0% | 68.5% | 72.5% | 73.6% | 78.6% | 79.0% |
| Interest coverage | 3.75x | 60.10x | 89.30x | 42.04x | 40.46x | 265.16x |
| R&D as a share of sales | 7.7% | 8.2% | 8.7% | 7.1% | 8.3% | 8.4% |
| Buybacks as a share of market value | 1.1% | -1.9% | 2.7% | -3.3% | 0.0% | -6.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.1% | 16.3% | 15.9% |
| Operating income | -20.9% | -7.3% | -4.9% |
| Net income | -26.1% | -9.9% | -5.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 25.9% | 27.2% | 28.8% | 31.2% |
| Operating margin | 5.0% | 6.5% | 7.5% | 5.7% |
| Net margin | 4.4% | 6.1% | 7.1% | 1.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 112.2 | 55.4 | 79.1 | 39.6 | 46.6 | 34.3 | -7.4 | -7.3 | 31.1 | 64.5 |
| Price to sales | 3.1 | 3.5 | 5.3 | 4.1 | 5.0 | 3.4 | 2.9 | 2.5 | 4.2 | 10.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 4 Jun 2025.
| FY2025 | FY2024 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.06 | 0.10 | 0.075 | 0.065 | 0.06 | 0.114 | 0.061 | 0.163 |
- 11-for-5 split · 9 Apr 2015
- 3-for-2 split · 27 May 2014
- 13-for-10 split · 24 May 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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