C 
38.22
-3.09%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥7.54bn
FY2016FY2025
Net income
CN¥402.2m
FY2016FY2025
Free cash flow
−CN¥3.55bn
FY2016FY2025
Shareholders' equity
CN¥11.35bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥7.54bn | CN¥6.61bn | CN¥10.47bn | CN¥17.03bn | CN¥3.40bn | CN¥1.31bn | CN¥758.1m | CN¥778.4m | CN¥736.3m | CN¥591.0m |
| Gross profit | CN¥1.00bn | CN¥1.38bn | CN¥2.63bn | CN¥10.97bn | CN¥1.73bn | CN¥511.4m | CN¥219.9m | CN¥196.4m | CN¥155.2m | CN¥126.5m |
| Research and development | CN¥115.5m | CN¥91.4m | CN¥90.4m | CN¥60.1m | CN¥52.5m | CN¥57.1m | CN¥31.5m | CN¥29.7m | CN¥24.7m | CN¥22.9m |
| Operating income | CN¥329.9m | CN¥1.23bn | CN¥2.47bn | CN¥10.32bn | CN¥1.46bn | CN¥328.0m | CN¥74.7m | CN¥54.3m | CN¥43.8m | CN¥21.0m |
| Net income | CN¥402.2m | CN¥847.6m | CN¥1.66bn | CN¥6.59bn | CN¥910.7m | CN¥286.0m | CN¥61.8m | CN¥50.3m | CN¥31.9m | CN¥16.1m |
| Diluted earnings per share | 0.48 | 1.01 | 2.00 | 7.97 | 1.19 | 0.39 | 0.08 | 0.05 | 0.03 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥23.09bn | CN¥19.28bn | CN¥18.87bn | CN¥20.27bn | CN¥6.26bn | CN¥2.49bn | CN¥1.15bn | CN¥1.13bn | CN¥1.03bn | CN¥1.01bn |
| Cash and short-term investments | CN¥4.09bn | CN¥4.47bn | CN¥7.34bn | CN¥8.51bn | CN¥1.10bn | CN¥271.4m | CN¥100.9m | CN¥182.2m | CN¥131.6m | CN¥122.8m |
| Total liabilities | CN¥7.44bn | CN¥3.68bn | CN¥4.32bn | CN¥6.20bn | CN¥2.19bn | CN¥1.01bn | CN¥249.1m | CN¥248.6m | CN¥185.2m | CN¥201.6m |
| Debt | — | CN¥1.84bn | CN¥2.66bn | CN¥3.51bn | CN¥1.45bn | CN¥569.4m | CN¥82.5m | CN¥90.2m | CN¥34.0m | CN¥68.4m |
| Shareholders' equity | CN¥11.35bn | CN¥12.53bn | CN¥11.95bn | CN¥11.72bn | CN¥3.24bn | CN¥1.21bn | CN¥881.1m | CN¥871.0m | CN¥831.1m | CN¥799.6m |
| Shares outstanding | 831m | 839m | 828m | 827m | 766m | 727m | 753m | 937m | 925m | 627m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥189.0m | CN¥1.44bn | CN¥4.17bn | CN¥6.39bn | CN¥180.5m | CN¥350.0m | CN¥147.2m | CN¥117.5m | CN¥88.1m | CN¥21.9m |
| Capital spending | −CN¥3.36bn | −CN¥607.7m | −CN¥2.37bn | −CN¥1.86bn | −CN¥816.3m | −CN¥88.3m | −CN¥70.5m | −CN¥46.5m | −CN¥49.5m | −CN¥60.4m |
| Free cash flow | −CN¥3.55bn | CN¥828.4m | CN¥1.80bn | CN¥4.53bn | −CN¥635.8m | CN¥261.7m | CN¥76.8m | CN¥71.0m | CN¥38.7m | −CN¥38.4m |
| Dividends paid | −CN¥498.5m | −CN¥916.8m | −CN¥1.28bn | −CN¥291.4m | −CN¥102.5m | −CN¥32.7m | −CN¥51.7m | −CN¥10.3m | −CN¥2.8m | −CN¥28.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.58bn | CN¥3.20bn | CN¥1.98bn | CN¥2.11bn | CN¥1.77bn | CN¥1.69bn | CN¥1.16bn | CN¥1.74bn |
| Gross profit | CN¥1.88bn | CN¥1.50bn | CN¥472.5m | CN¥355.9m | CN¥87.4m | CN¥107.3m | CN¥359.8m | CN¥56.4m |
| Operating income | CN¥1.75bn | CN¥1.32bn | CN¥340.8m | CN¥140.2m | −CN¥221.2m | CN¥39.8m | −CN¥45.5m | CN¥134.6m |
| Net income | CN¥1.32bn | CN¥968.9m | CN¥369.3m | CN¥188.6m | −CN¥158.9m | CN¥3.3m | −CN¥75.7m | CN¥88.4m |
| Diluted earnings per share | 1.59 | 1.17 | 0.44 | 0.23 | -0.19 | 0.00 | -0.09 | 0.11 |
| Cash from operations | — | — | −CN¥687.0m | CN¥280.0m | CN¥719.0m | −CN¥522.0m | CN¥336.0m | CN¥393.0m |
| Capital spending | −CN¥210.0m | −CN¥77.0m | −CN¥325.0m | −CN¥113.0m | −CN¥99.0m | −CN¥2.82bn | −CN¥33.0m | −CN¥127.0m |
| Free cash flow | — | — | −CN¥1.01bn | CN¥167.0m | CN¥620.0m | −CN¥3.34bn | CN¥303.0m | CN¥266.0m |
| Total assets | CN¥27.92bn | CN¥25.77bn | CN¥23.09bn | CN¥20.02bn | CN¥19.75bn | CN¥19.79bn | CN¥19.28bn | CN¥18.07bn |
| Cash and short-term investments | — | — | CN¥4.09bn | CN¥2.58bn | CN¥2.82bn | CN¥2.43bn | CN¥4.47bn | CN¥5.85bn |
| Debt | CN¥1.94bn | CN¥1.99bn | CN¥5.80bn | CN¥3.61bn | CN¥3.54bn | CN¥2.87bn | CN¥1.61bn | CN¥1.54bn |
| Shareholders' equity | CN¥13.72bn | CN¥12.34bn | CN¥11.35bn | CN¥10.91bn | CN¥10.70bn | CN¥11.36bn | CN¥12.53bn | CN¥11.92bn |
Financial ratios
Data as of 18 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 13.3% | 20.8% | 25.1% | 64.4% | 50.9% | 38.9% |
| Operating margin | 4.4% | 18.6% | 23.6% | 60.6% | 43.0% | 25.0% |
| Net margin | 5.3% | 12.8% | 15.8% | 38.7% | 26.8% | 21.8% |
| Return on equity | 3.5% | 6.8% | 13.9% | 56.2% | 28.1% | 23.6% |
| Return on assets | 1.7% | 4.4% | 8.8% | 32.5% | 14.6% | 11.5% |
| Free cash flow yield | 7.2% | 4.6% | 15.0% | 19.0% | 2.5% | 1.1% |
| Revenue growth | 14.1% | -36.9% | -38.5% | 401.3% | 158.7% | 73.2% |
| Earnings growth | -52.6% | -48.9% | -74.8% | 623.2% | 218.4% | 362.5% |
| Current ratio | 1.91x | 2.93x | 3.40x | 2.43x | 1.66x | 1.27x |
| Debt to equity | 0.51x | 0.13x | 0.20x | 0.29x | 0.24x | 0.31x |
| Equity ratio | 49.2% | 65.0% | 63.4% | 57.8% | 51.8% | 48.7% |
| Interest coverage | 3.38x | 13.41x | 66.85x | 82.50x | 48.44x | 72.41x |
| R&D as a share of sales | 1.5% | 1.4% | 0.9% | 0.4% | 1.5% | 4.3% |
| Buybacks as a share of market value | 1.0% | -1.4% | -0.2% | -7.9% | -5.4% | 3.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -23.8% | 41.8% | 32.3% |
| Operating income | -68.3% | 0.1% | 19.5% |
| Net income | -60.6% | 7.1% | 23.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.8% | 38.4% | 39.3% | 38.3% |
| Operating margin | 11.0% | 34.5% | 34.8% | 33.0% |
| Net margin | 8.8% | 22.8% | 23.1% | 21.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 112.8 | 22.8 | 12.7 | 5.4 | 52.4 | 48.1 | 58.7 | 65.8 | 94.9 | 234.9 |
| Price to sales | 6.0 | 2.9 | 2.0 | 2.1 | 14.1 | 10.5 | 4.8 | 4.3 | 4.1 | 6.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 8 years. Last went ex-dividend on 30 May 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.60 | 1.00 | 2.00 | 0.385 | 0.077 | 0.039 | 0.072 | 0.014 |
- 13-for-10 split · 5 May 2023
- 8-for-5 split · 28 May 2019
- 5-for-2 split · 29 Apr 2016
- 3-for-2 split · 16 Apr 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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