T 
3.82
-0.26%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.86bn
FY2016FY2025
Net income
−CN¥190.8m
FY2016FY2025
Free cash flow
−CN¥11.0m
FY2016FY2025
Shareholders' equity
CN¥2.05bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.86bn | CN¥2.46bn | CN¥1.95bn | CN¥1.70bn | CN¥1.66bn | CN¥1.68bn | CN¥1.60bn | CN¥1.46bn | CN¥1.14bn | CN¥1.09bn |
| Gross profit | CN¥548.1m | CN¥457.2m | CN¥401.7m | CN¥362.4m | CN¥357.3m | CN¥368.2m | CN¥375.2m | CN¥313.0m | CN¥293.7m | CN¥331.8m |
| Research and development | CN¥147.1m | CN¥138.6m | CN¥123.6m | CN¥89.8m | CN¥71.3m | CN¥67.1m | CN¥66.1m | CN¥52.6m | CN¥49.4m | CN¥42.4m |
| Operating income | CN¥113.0m | CN¥71.0m | CN¥24.4m | CN¥61.1m | CN¥71.7m | −CN¥28.7m | CN¥188.1m | CN¥152.0m | CN¥140.5m | CN¥161.5m |
| Net income | −CN¥190.8m | CN¥77.7m | CN¥28.4m | CN¥75.7m | CN¥62.4m | −CN¥68.7m | CN¥136.0m | CN¥118.3m | CN¥119.3m | CN¥157.3m |
| Diluted earnings per share | -0.25 | 0.09 | 0.05 | 0.10 | 0.10 | -0.09 | 0.24 | 0.20 | 0.20 | 0.29 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.73bn | CN¥3.59bn | CN¥3.32bn | CN¥2.72bn | CN¥2.54bn | CN¥2.47bn | CN¥2.98bn | CN¥2.75bn | CN¥1.87bn | CN¥1.57bn |
| Cash and short-term investments | — | CN¥529.2m | CN¥527.5m | CN¥367.1m | CN¥257.9m | CN¥202.0m | CN¥390.7m | CN¥318.2m | CN¥568.9m | CN¥348.6m |
| Total liabilities | CN¥1.67bn | CN¥1.33bn | CN¥1.12bn | CN¥789.2m | CN¥650.1m | CN¥639.7m | CN¥742.1m | CN¥976.6m | CN¥274.1m | CN¥298.1m |
| Debt | — | CN¥319.1m | CN¥210.5m | CN¥120.0m | CN¥111.1m | CN¥100.1m | CN¥319.7m | CN¥407.6m | CN¥3.8m | CN¥15.0m |
| Shareholders' equity | CN¥2.05bn | CN¥2.25bn | CN¥2.20bn | CN¥1.93bn | CN¥1.89bn | CN¥1.83bn | CN¥2.24bn | CN¥1.60bn | CN¥1.59bn | CN¥1.27bn |
| Shares outstanding | 767m | 839m | 576m | 759m | 641m | 808m | 559m | 597m | 599m | 537m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥38.3m | −CN¥28.3m | −CN¥127.6m | CN¥225.1m | CN¥215.3m | CN¥200.5m | CN¥144.9m | −CN¥21.9m | CN¥128.8m | CN¥123.8m |
| Capital spending | −CN¥49.2m | −CN¥55.6m | −CN¥69.2m | −CN¥66.3m | −CN¥21.5m | −CN¥28.1m | −CN¥50.8m | −CN¥64.1m | −CN¥89.8m | −CN¥80.2m |
| Free cash flow | −CN¥11.0m | −CN¥83.9m | −CN¥196.8m | CN¥158.7m | CN¥193.8m | CN¥172.4m | CN¥94.1m | −CN¥86.1m | CN¥39.0m | CN¥43.6m |
| Dividends paid | −CN¥27.5m | −CN¥26.4m | −CN¥37.8m | −CN¥33.2m | −CN¥4.6m | −CN¥8.1m | −CN¥24.0m | −CN¥61.0m | −CN¥45.2m | −CN¥37.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥698.3m | CN¥567.0m | CN¥899.9m | CN¥669.3m | CN¥655.9m | CN¥634.2m | CN¥776.7m | CN¥592.8m |
| Gross profit | CN¥124.4m | CN¥90.1m | CN¥171.3m | CN¥136.2m | CN¥117.5m | CN¥123.1m | CN¥115.2m | CN¥119.4m |
| Operating income | CN¥11.4m | −CN¥13.6m | CN¥63.6m | CN¥16.6m | CN¥3.9m | CN¥19.3m | CN¥4.7m | CN¥7.2m |
| Net income | CN¥13.5m | CN¥3.8m | −CN¥237.5m | CN¥19.3m | CN¥4.3m | CN¥23.2m | CN¥283,770 | CN¥13.3m |
| Diluted earnings per share | 0.02 | 0.00 | -0.31 | 0.03 | 0.01 | 0.03 | 0.00 | 0.02 |
| Cash from operations | — | — | — | CN¥52.0m | −CN¥14.0m | −CN¥6.0m | −CN¥45.0m | −CN¥40.0m |
| Capital spending | −CN¥7.0m | −CN¥1.0m | −CN¥7.0m | −CN¥16.0m | −CN¥7.0m | −CN¥16.0m | −CN¥20.0m | −CN¥11.0m |
| Free cash flow | — | — | — | CN¥36.0m | −CN¥21.0m | −CN¥22.0m | −CN¥65.0m | −CN¥51.0m |
| Total assets | CN¥3.38bn | CN¥3.32bn | CN¥3.73bn | CN¥3.71bn | CN¥3.66bn | CN¥3.59bn | CN¥3.59bn | CN¥3.22bn |
| Cash and short-term investments | — | — | — | CN¥523.2m | CN¥499.4m | CN¥508.4m | CN¥529.2m | CN¥626.5m |
| Debt | — | — | — | CN¥694.2m | CN¥327.6m | CN¥319.9m | CN¥294.8m | CN¥222.6m |
| Shareholders' equity | CN¥2.08bn | CN¥2.06bn | CN¥2.05bn | CN¥2.29bn | CN¥2.29bn | CN¥2.28bn | CN¥2.25bn | CN¥2.25bn |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 19.2% | 18.6% | 20.6% | 21.3% | 21.6% | 22.0% | — |
| Operating margin | -6.5% | 3.1% | 1.4% | 3.8% | 4.3% | -0.7% | — |
| Net margin | -6.7% | 3.2% | 1.5% | 4.5% | 3.8% | -4.1% | — |
| Return on equity | -9.3% | 3.4% | 1.3% | 3.9% | 3.3% | -3.8% | — |
| Return on assets | -5.1% | 2.2% | 0.9% | 2.8% | 2.5% | -2.8% | — |
| Free cash flow yield | 3.0% | 0.8% | -2.6% | 10.0% | 9.6% | 7.3% | — |
| Revenue growth | 16.2% | 26.1% | 15.0% | 2.5% | -1.1% | 4.6% | — |
| Earnings growth | -345.7% | 173.4% | -62.5% | 21.3% | -190.8% | -150.5% | — |
| Current ratio | 1.46x | 1.81x | 2.00x | 2.01x | 2.23x | 2.73x | — |
| Debt to equity | — | 0.13x | 0.09x | 0.06x | 0.05x | 0.05x | 0.12x |
| Equity ratio | 55.0% | 62.8% | 66.2% | 71.0% | 74.4% | 74.1% | — |
| Interest coverage | -47.74x | 10.16x | 9.01x | 17.12x | 13.48x | -1.16x | — |
| R&D as a share of sales | 5.1% | 5.6% | 6.3% | 5.3% | 4.3% | 4.0% | — |
| Buybacks as a share of market value | 8.6% | -45.8% | 24.1% | -18.4% | 20.7% | -44.5% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 19.0% | 11.3% | 11.2% |
| Operating income | 22.7% | — | -2.2% |
| Net income | — | 22.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.9% | 19.7% | 20.3% | 22.1% |
| Operating margin | 3.5% | 3.0% | 2.5% | 5.9% |
| Net margin | -2.1% | -0.1% | -0.1% | 3.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -21.2 | 49.8 | 112.1 | 35.4 | 45.4 | -58.2 | 14.5 | 16.1 | 31.9 | 26.6 |
| Price to sales | 1.4 | 1.6 | 1.6 | 1.6 | 1.7 | 2.4 | 1.2 | 1.3 | 3.3 | 3.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 14 Jul 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.036 | 0.035 | 0.05 | 0.05 | 0.039 | 0.099 | 0.078 | 0.065 |
- 17-for-10 split · 16 May 2019
- 1.813-for-1 split · 7 May 2018
- 2-for-1 split · 8 May 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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