J 
Jiangsu Kuangshun Photosensitivity New-Material Stock Co 300537.SZ · CNY
Materials · Shenzhen · 🇨🇳 China
17.27
+0.35%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥481.6m
FY2016FY2025
Net income
CN¥13.7m
FY2016FY2025
Free cash flow
CN¥48.9m
FY2016FY2025
Shareholders' equity
CN¥899.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥481.6m | CN¥518.2m | CN¥509.9m | CN¥497.9m | CN¥618.9m | CN¥753.1m | CN¥809.0m | CN¥639.4m | CN¥449.0m | CN¥271.0m |
| Gross profit | CN¥161.2m | CN¥190.1m | CN¥172.6m | CN¥121.3m | CN¥162.0m | CN¥239.6m | CN¥318.4m | CN¥237.7m | CN¥187.9m | CN¥121.9m |
| Research and development | CN¥21.0m | CN¥23.7m | CN¥29.2m | CN¥33.4m | CN¥46.1m | CN¥47.8m | CN¥39.6m | CN¥30.4m | CN¥18.6m | CN¥11.0m |
| Operating income | CN¥36.5m | CN¥9.2m | CN¥13.8m | −CN¥40.1m | −CN¥418.2m | −CN¥226.3m | CN¥65.8m | CN¥50.4m | CN¥66.4m | CN¥50.5m |
| Net income | CN¥13.7m | −CN¥32.1m | CN¥6.9m | −CN¥32.0m | −CN¥410.6m | −CN¥214.2m | CN¥72.2m | CN¥55.0m | CN¥61.3m | CN¥42.4m |
| Diluted earnings per share | 0.07 | -0.16 | 0.04 | -0.16 | -1.91 | -1.34 | 0.37 | 0.29 | 0.32 | 0.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.28bn | CN¥1.18bn | CN¥1.26bn | CN¥1.24bn | CN¥1.16bn | CN¥1.50bn | CN¥1.94bn | CN¥1.80bn | CN¥1.57bn | CN¥585.0m |
| Cash and short-term investments | — | CN¥181.7m | CN¥242.1m | CN¥167.4m | CN¥155.9m | CN¥144.3m | CN¥103.0m | CN¥134.7m | CN¥166.5m | CN¥121.8m |
| Total liabilities | CN¥371.6m | CN¥416.2m | CN¥482.9m | CN¥595.0m | CN¥469.1m | CN¥397.9m | CN¥605.0m | CN¥522.1m | CN¥328.0m | CN¥103.7m |
| Debt | — | CN¥159.5m | CN¥195.7m | CN¥198.2m | CN¥197.4m | CN¥131.5m | CN¥152.8m | CN¥126.1m | CN¥90.0m | CN¥5.5m |
| Shareholders' equity | CN¥899.4m | CN¥752.3m | CN¥775.9m | CN¥659.6m | CN¥693.0m | CN¥1.10bn | CN¥1.33bn | CN¥1.27bn | CN¥1.23bn | CN¥481.3m |
| Shares outstanding | 208m | 200m | 196m | 203m | 215m | 160m | 194m | 189m | 190m | 159m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥62.9m | −CN¥37.2m | CN¥26.3m | CN¥81.5m | CN¥43.8m | CN¥87.9m | −CN¥28.6m | CN¥53.8m | CN¥24.7m | CN¥41.6m |
| Capital spending | −CN¥14.0m | −CN¥17.7m | −CN¥58.8m | −CN¥101.9m | −CN¥54.0m | −CN¥26.3m | −CN¥21.3m | −CN¥42.5m | −CN¥28.9m | −CN¥26.3m |
| Free cash flow | CN¥48.9m | −CN¥54.9m | −CN¥32.5m | −CN¥20.4m | −CN¥10.3m | CN¥61.6m | −CN¥49.9m | CN¥11.3m | −CN¥4.2m | CN¥15.4m |
| Dividends paid | −CN¥5.0m | −CN¥5.3m | −CN¥6.4m | −CN¥4.8m | −CN¥6.8m | −CN¥15.4m | −CN¥11.6m | −CN¥27.5m | −CN¥16.0m | −CN¥9.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥149.1m | CN¥114.2m | CN¥133.4m | CN¥114.7m | CN¥126.7m | CN¥106.7m | CN¥132.0m | CN¥125.7m |
| Gross profit | CN¥49.0m | CN¥38.1m | CN¥40.3m | CN¥41.1m | CN¥40.7m | CN¥39.1m | CN¥46.7m | CN¥41.0m |
| Operating income | CN¥14.1m | CN¥8.1m | CN¥9.2m | −CN¥3.2m | CN¥7.9m | CN¥11.3m | −CN¥37.3m | CN¥9.4m |
| Net income | CN¥7.4m | CN¥7.5m | CN¥4.9m | −CN¥4.8m | CN¥3.8m | CN¥9.8m | −CN¥68.1m | CN¥8.1m |
| Diluted earnings per share | 0.04 | 0.04 | 0.02 | -0.02 | 0.02 | 0.05 | -0.34 | 0.04 |
| Cash from operations | — | — | — | CN¥18.0m | CN¥22.0m | CN¥6.0m | CN¥16.0m | CN¥6.0m |
| Capital spending | −CN¥4.0m | — | −CN¥7.0m | −CN¥3.0m | −CN¥1.0m | — | −CN¥6.0m | −CN¥4.0m |
| Free cash flow | — | — | — | CN¥15.0m | CN¥21.0m | — | CN¥10.0m | CN¥2.0m |
| Total assets | CN¥1.22bn | CN¥1.22bn | CN¥1.28bn | CN¥1.33bn | CN¥1.34bn | CN¥1.20bn | CN¥1.18bn | CN¥1.17bn |
| Cash and short-term investments | — | — | — | CN¥356.8m | CN¥354.7m | CN¥209.0m | CN¥181.7m | CN¥132.7m |
| Debt | — | — | — | CN¥168.2m | CN¥166.0m | CN¥185.8m | CN¥159.5m | CN¥98.8m |
| Shareholders' equity | CN¥909.6m | CN¥906.9m | CN¥899.4m | CN¥903.0m | CN¥906.5m | CN¥761.9m | CN¥752.3m | CN¥818.0m |
Financial ratios
Data as of 16 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 33.5% | 36.7% | 33.8% | 24.4% | 26.2% | 31.8% | — |
| Operating margin | 5.0% | 1.9% | 3.4% | -7.0% | -67.3% | -27.2% | — |
| Net margin | 2.8% | -6.2% | 1.4% | -6.4% | -66.3% | -28.4% | — |
| Return on equity | 1.5% | -4.3% | 0.9% | -4.8% | -59.2% | -19.4% | — |
| Return on assets | 1.1% | -2.7% | 0.5% | -2.6% | -35.4% | -14.3% | — |
| Free cash flow yield | 2.1% | -0.6% | 2.5% | 5.2% | 2.6% | 4.1% | — |
| Revenue growth | -7.1% | 1.6% | 2.4% | -19.6% | -17.8% | -6.9% | — |
| Earnings growth | -142.7% | -565.0% | -121.6% | -92.2% | 91.6% | -396.8% | — |
| Current ratio | 2.05x | 1.53x | 1.49x | 1.25x | 1.51x | 1.88x | — |
| Debt to equity | — | 0.21x | 0.25x | 0.30x | 0.28x | 0.12x | 0.11x |
| Equity ratio | 70.2% | 64.0% | 61.4% | 53.0% | 59.8% | 73.5% | — |
| Interest coverage | 4.84x | 1.90x | 2.30x | -6.45x | -58.92x | -26.99x | — |
| R&D as a share of sales | 4.4% | 4.6% | 5.7% | 6.7% | 7.4% | 6.3% | — |
| Buybacks as a share of market value | -3.9% | -2.3% | 3.6% | 5.4% | -34.5% | 17.5% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.1% | -8.6% | 6.8% |
| Operating income | — | — | -2.6% |
| Net income | — | — | -10.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 35.1% | 32.1% | 31.0% | 34.9% |
| Operating margin | 4.6% | 1.0% | -18.5% | -5.9% |
| Net margin | -1.8% | -2.2% | -19.8% | -6.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 332.2 | -123.6 | — | -84.3 | -8.5 | -12.3 | 50.6 | 31.5 | 48.3 | 114.0 |
| Price to sales | 9.4 | 7.7 | 7.5 | 5.4 | 5.7 | 3.5 | 4.5 | 2.7 | 6.6 | 17.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 2 Jun 2020.
| FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|
| Paid in the year | 0.08 | 0.06 | 0.105 | 0.094 |
- 8-for-5 split · 31 May 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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