N 
6.57
-1.50%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.72bn
FY2016FY2025
Net income
CN¥193.6m
FY2016FY2025
Free cash flow
−CN¥391.5m
FY2016FY2025
Shareholders' equity
CN¥2.50bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.72bn | CN¥2.32bn | CN¥2.42bn | CN¥2.05bn | CN¥2.17bn | CN¥1.97bn | CN¥1.56bn | CN¥1.51bn | CN¥1.11bn | CN¥566.0m |
| Gross profit | CN¥494.2m | CN¥754.4m | CN¥795.1m | CN¥642.1m | CN¥741.0m | CN¥653.4m | CN¥526.3m | CN¥532.1m | CN¥407.2m | CN¥191.8m |
| Research and development | CN¥75.1m | CN¥110.4m | CN¥111.0m | CN¥114.8m | CN¥103.5m | CN¥88.5m | CN¥73.2m | CN¥68.7m | CN¥44.8m | CN¥21.3m |
| Operating income | CN¥291.4m | CN¥1.15bn | CN¥414.5m | CN¥148.0m | CN¥374.7m | CN¥204.3m | −CN¥96.0m | CN¥202.3m | CN¥203.9m | CN¥89.5m |
| Net income | CN¥193.6m | CN¥832.3m | CN¥280.6m | CN¥110.9m | CN¥266.2m | CN¥98.5m | −CN¥145.3m | CN¥121.3m | CN¥151.0m | CN¥70.6m |
| Diluted earnings per share | 0.29 | 1.33 | 0.42 | 0.17 | 0.53 | 0.15 | -0.24 | 0.18 | 0.22 | 0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥3.85bn | CN¥3.54bn | CN¥3.74bn | CN¥3.26bn | CN¥3.28bn | CN¥2.86bn | CN¥2.80bn | CN¥2.91bn | CN¥2.53bn | CN¥1.41bn |
| Cash and short-term investments | — | CN¥490.2m | CN¥333.8m | CN¥311.4m | CN¥346.0m | CN¥235.0m | CN¥286.9m | CN¥231.5m | CN¥206.1m | CN¥126.3m |
| Total liabilities | CN¥1.23bn | CN¥933.6m | CN¥1.38bn | CN¥1.19bn | CN¥1.37bn | CN¥1.28bn | CN¥1.21bn | CN¥1.12bn | CN¥907.5m | CN¥344.1m |
| Debt | CN¥108.0m | CN¥129.1m | CN¥444.4m | CN¥580.1m | CN¥785.9m | CN¥611.8m | CN¥736.6m | CN¥622.4m | CN¥461.9m | CN¥105.0m |
| Shareholders' equity | CN¥2.50bn | CN¥2.50bn | CN¥1.87bn | CN¥1.62bn | CN¥1.51bn | CN¥1.36bn | CN¥1.35bn | CN¥1.56bn | CN¥1.47bn | CN¥1.01bn |
| Shares outstanding | 660m | 628m | 673m | 640m | 502m | 669m | 597m | 671m | 692m | 673m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥378.2m | −CN¥39.7m | CN¥344.6m | CN¥275.3m | CN¥340.0m | CN¥446.6m | CN¥219.0m | CN¥291.3m | CN¥221.7m | CN¥82.0m |
| Capital spending | −CN¥769.7m | −CN¥517.7m | −CN¥310.8m | −CN¥167.9m | −CN¥380.7m | −CN¥247.0m | −CN¥160.9m | −CN¥264.4m | −CN¥277.3m | −CN¥100.7m |
| Free cash flow | −CN¥391.5m | −CN¥557.4m | CN¥33.9m | CN¥107.4m | −CN¥40.7m | CN¥199.6m | CN¥58.1m | CN¥26.9m | −CN¥55.6m | −CN¥18.7m |
| Dividends paid | −CN¥197.3m | −CN¥153.9m | −CN¥48.7m | −CN¥97.8m | −CN¥155.9m | −CN¥52.0m | −CN¥39.7m | −CN¥64.9m | −CN¥66.9m | −CN¥21.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥530.9m | CN¥352.6m | CN¥456.8m | CN¥450.3m | CN¥469.3m | CN¥341.1m | CN¥552.5m | CN¥431.3m |
| Gross profit | CN¥154.0m | CN¥77.1m | CN¥120.2m | CN¥135.3m | CN¥144.4m | CN¥94.2m | CN¥139.0m | CN¥143.9m |
| Operating income | CN¥88.9m | CN¥26.4m | CN¥68.0m | CN¥49.0m | CN¥87.6m | CN¥60.4m | CN¥152.8m | CN¥743.9m |
| Net income | CN¥84.6m | CN¥20.1m | CN¥32.7m | CN¥40.2m | CN¥74.2m | CN¥46.6m | CN¥129.3m | CN¥514.6m |
| Diluted earnings per share | 0.13 | 0.03 | 0.05 | 0.06 | 0.11 | 0.07 | 0.21 | 0.82 |
| Cash from operations | — | — | — | CN¥64.0m | CN¥132.0m | CN¥52.0m | — | −CN¥178.0m |
| Capital spending | −CN¥156.0m | −CN¥159.0m | −CN¥188.0m | −CN¥236.0m | −CN¥198.0m | −CN¥145.0m | −CN¥212.0m | −CN¥104.0m |
| Free cash flow | — | — | — | −CN¥172.0m | −CN¥66.0m | −CN¥93.0m | — | −CN¥282.0m |
| Total assets | CN¥4.03bn | CN¥3.88bn | CN¥3.85bn | CN¥3.58bn | CN¥3.39bn | CN¥3.56bn | CN¥3.54bn | CN¥3.34bn |
| Cash and short-term investments | — | — | — | CN¥158.9m | CN¥210.8m | CN¥393.2m | CN¥490.2m | CN¥554.8m |
| Debt | CN¥138.3m | CN¥120.0m | CN¥108.0m | CN¥149.4m | CN¥166.6m | CN¥128.0m | CN¥128.5m | CN¥118.7m |
| Shareholders' equity | CN¥2.56bn | CN¥2.52bn | CN¥2.50bn | CN¥2.47bn | CN¥2.43bn | CN¥2.55bn | CN¥2.50bn | CN¥2.37bn |
Financial ratios
Data as of 16 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 28.8% | 32.5% | 32.9% | 31.3% | 34.1% | 33.1% |
| Operating margin | 14.1% | 50.0% | 17.3% | 8.7% | 17.5% | 10.4% |
| Net margin | 11.3% | 35.9% | 11.6% | 5.4% | 12.3% | 5.0% |
| Return on equity | 7.7% | 33.3% | 15.0% | 6.8% | 17.7% | 7.2% |
| Return on assets | 5.0% | 23.5% | 7.5% | 3.4% | 8.1% | 3.5% |
| Free cash flow yield | 26.3% | 11.5% | 14.7% | 10.5% | 21.7% | 15.7% |
| Revenue growth | -26.0% | -3.9% | 17.6% | -5.4% | 10.2% | 26.4% |
| Earnings growth | -76.7% | 196.6% | 153.0% | -58.3% | 170.1% | -167.8% |
| Current ratio | 1.85x | 2.92x | 1.72x | 1.70x | 1.27x | 1.17x |
| Debt to equity | 0.04x | 0.05x | 0.23x | 0.27x | 0.45x | 0.45x |
| Equity ratio | 64.9% | 70.6% | 50.0% | 49.7% | 46.0% | 47.8% |
| Interest coverage | 40.79x | 96.26x | 24.43x | 5.67x | 12.21x | 6.54x |
| R&D as a share of sales | 4.4% | 4.8% | 4.6% | 5.6% | 4.8% | 4.5% |
| Buybacks as a share of market value | -5.1% | 6.6% | -5.1% | -27.3% | 24.9% | -12.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.8% | -2.7% | 20.9% |
| Operating income | 25.3% | 7.4% | 25.7% |
| Net income | 20.4% | 14.5% | 20.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.9% | 31.6% | 32.3% | 32.9% |
| Operating margin | 35.8% | 23.6% | 20.5% | 17.1% |
| Net margin | 25.4% | 16.7% | 14.1% | 11.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 25.7 | 6.6 | 16.5 | 31.4 | 21.3 | 61.6 | -40.0 | 37.5 | 61.7 | 123.6 |
| Price to sales | 2.9 | 2.4 | 1.9 | 1.7 | 2.6 | 3.1 | 3.7 | 3.0 | 8.3 | 15.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 29 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.065 | 0.30 | 0.22 | 0.05 | 0.15 | 0.15 | 0.06 | 0.056 |
- 9-for-5 split · 17 May 2018
- 2-for-1 split · 28 Oct 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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