B 
46.77
-1.20%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥3.61bn
FY2016FY2025
Net income
CN¥305.3m
FY2016FY2025
Free cash flow
CN¥294.6m
FY2016FY2025
Shareholders' equity
CN¥6.60bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.61bn | CN¥2.89bn | CN¥2.46bn | CN¥2.38bn | CN¥2.25bn | CN¥1.87bn | CN¥1.55bn | CN¥1.22bn | CN¥1.03bn | CN¥1.04bn |
| Gross profit | CN¥2.87bn | CN¥2.35bn | CN¥2.05bn | CN¥2.11bn | CN¥2.07bn | CN¥1.73bn | CN¥1.45bn | CN¥1.16bn | CN¥982.7m | CN¥1.00bn |
| Research and development | CN¥510.9m | CN¥501.9m | CN¥640.1m | CN¥699.9m | CN¥565.9m | CN¥362.9m | CN¥326.4m | CN¥303.7m | CN¥202.7m | CN¥161.5m |
| Operating income | CN¥582.8m | CN¥399.9m | CN¥279.9m | CN¥94.8m | CN¥395.6m | CN¥680.7m | CN¥266.6m | CN¥166.1m | CN¥221.5m | CN¥362.4m |
| Net income | CN¥305.3m | CN¥402.6m | CN¥348.0m | CN¥145.4m | CN¥383.1m | CN¥606.4m | CN¥230.8m | CN¥166.8m | CN¥257.7m | CN¥368.8m |
| Diluted earnings per share | 0.72 | 0.96 | 0.83 | 0.35 | 0.92 | 1.51 | 0.58 | 0.41 | 0.66 | 1.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥10.57bn | CN¥9.34bn | CN¥9.15bn | CN¥7.91bn | CN¥6.27bn | CN¥5.24bn | CN¥4.13bn | CN¥3.51bn | CN¥2.77bn | CN¥2.17bn |
| Cash and short-term investments | — | CN¥598.1m | CN¥752.5m | CN¥731.3m | CN¥993.0m | CN¥1.54bn | CN¥521.3m | CN¥305.0m | CN¥268.3m | CN¥1.13bn |
| Total liabilities | CN¥3.90bn | CN¥3.68bn | CN¥3.80bn | CN¥2.95bn | CN¥1.59bn | CN¥1.10bn | CN¥1.66bn | CN¥1.27bn | CN¥706.5m | CN¥238.3m |
| Debt | CN¥1.52bn | CN¥1.65bn | CN¥2.12bn | CN¥1.04bn | CN¥6.3m | CN¥5.8m | CN¥643.2m | CN¥640.0m | CN¥300.0m | — |
| Shareholders' equity | CN¥6.60bn | CN¥5.57bn | CN¥5.25bn | CN¥4.85bn | CN¥4.56bn | CN¥4.14bn | CN¥2.46bn | CN¥2.23bn | CN¥2.05bn | CN¥1.92bn |
| Shares outstanding | 424m | 419m | 418m | 417m | 418m | 402m | 397m | 405m | 390m | 356m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥911.3m | CN¥911.2m | CN¥914.2m | CN¥306.7m | CN¥526.6m | CN¥646.0m | CN¥555.1m | CN¥286.4m | CN¥278.3m | CN¥407.1m |
| Capital spending | −CN¥616.7m | −CN¥827.6m | −CN¥1.10bn | −CN¥1.01bn | −CN¥758.4m | −CN¥685.8m | −CN¥620.4m | −CN¥614.8m | −CN¥585.8m | −CN¥294.5m |
| Free cash flow | CN¥294.6m | CN¥83.6m | −CN¥181.8m | −CN¥703.8m | −CN¥231.8m | −CN¥39.8m | −CN¥65.3m | −CN¥328.4m | −CN¥307.5m | CN¥112.6m |
| Dividends paid | −CN¥150.8m | −CN¥150.9m | −CN¥110.3m | −CN¥139.5m | −CN¥137.6m | −CN¥119.7m | −CN¥44.1m | −CN¥82.6m | −CN¥76.8m | −CN¥4.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥936.1m | CN¥1.04bn | CN¥892.0m | CN¥985.9m | CN¥813.9m | CN¥917.6m | CN¥547.3m | CN¥843.9m |
| Gross profit | CN¥688.0m | CN¥822.3m | CN¥687.7m | CN¥777.4m | CN¥659.8m | CN¥745.8m | CN¥388.5m | CN¥706.5m |
| Operating income | CN¥117.3m | CN¥295.7m | CN¥69.5m | CN¥198.6m | CN¥65.1m | CN¥143.9m | −CN¥38.4m | CN¥184.4m |
| Net income | CN¥66.2m | CN¥235.9m | −CN¥11.6m | CN¥177.0m | CN¥39.8m | CN¥100.1m | −CN¥13.7m | CN¥192.3m |
| Diluted earnings per share | 0.16 | 0.56 | -0.03 | 0.42 | 0.09 | 0.24 | -0.03 | 0.46 |
| Cash from operations | — | — | — | CN¥224.0m | CN¥147.0m | CN¥297.0m | CN¥79.0m | CN¥309.0m |
| Capital spending | −CN¥33.0m | −CN¥351.0m | −CN¥134.0m | −CN¥90.0m | −CN¥198.0m | −CN¥192.0m | −CN¥219.0m | −CN¥145.0m |
| Free cash flow | — | — | — | CN¥134.0m | −CN¥51.0m | CN¥105.0m | −CN¥140.0m | CN¥164.0m |
| Total assets | CN¥10.30bn | CN¥10.69bn | CN¥10.57bn | CN¥9.70bn | CN¥9.20bn | CN¥9.13bn | CN¥9.34bn | CN¥9.36bn |
| Cash and short-term investments | — | — | — | CN¥491.9m | CN¥577.5m | CN¥597.8m | CN¥598.1m | CN¥816.4m |
| Debt | CN¥1.25bn | CN¥1.70bn | CN¥1.52bn | CN¥835.7m | CN¥1.64bn | CN¥1.32bn | CN¥1.65bn | CN¥1.76bn |
| Shareholders' equity | CN¥6.63bn | CN¥6.79bn | CN¥6.60bn | CN¥5.84bn | CN¥5.59bn | CN¥5.54bn | CN¥5.57bn | CN¥5.64bn |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 79.5% | 81.4% | 83.5% | 88.7% | 92.2% | 92.6% | — | — |
| Operating margin | 16.1% | 13.8% | 11.4% | 4.0% | 17.6% | 36.4% | — | — |
| Net margin | 8.5% | 13.9% | 14.2% | 6.1% | 17.1% | 32.4% | — | — |
| Return on equity | 4.6% | 7.2% | 6.6% | 3.0% | 8.4% | 14.6% | — | — |
| Return on assets | 2.9% | 4.3% | 3.8% | 1.8% | 6.1% | 11.6% | — | — |
| Free cash flow yield | 7.5% | 8.6% | 10.0% | 6.5% | 6.4% | 6.9% | — | — |
| Revenue growth | 24.8% | 17.7% | 3.3% | 5.8% | 20.1% | 20.4% | — | — |
| Earnings growth | -24.2% | 15.7% | 139.3% | -62.0% | -36.8% | 162.7% | — | — |
| Current ratio | 0.82x | 0.66x | 0.85x | 0.82x | 1.86x | 4.17x | — | — |
| Debt to equity | 0.23x | 0.30x | 0.40x | 0.21x | — | — | 0.49x | 0.35x |
| Equity ratio | 62.4% | 59.7% | 57.4% | 61.3% | 72.7% | 79.0% | — | — |
| Interest coverage | 7.65x | 8.52x | 5.09x | 0.48x | 24.75x | 17.08x | — | — |
| R&D as a share of sales | 14.2% | 17.4% | 26.1% | 29.4% | 25.2% | 19.4% | — | — |
| Buybacks as a share of market value | -1.1% | -0.2% | -0.2% | 0.2% | -4.0% | -1.3% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.9% | 14.1% | 14.7% |
| Operating income | 83.2% | -3.1% | 5.0% |
| Net income | 28.1% | -12.8% | -1.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 80.4% | 82.8% | 85.3% | 88.0% |
| Operating margin | 15.1% | 12.0% | 15.8% | 18.0% |
| Net margin | 10.9% | 10.6% | 14.2% | 16.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 64.8 | 56.2 | 62.0 | 141.4 | 87.2 | 71.2 | 113.0 | 77.7 | 95.8 | 71.1 |
| Price to sales | 5.5 | 7.8 | 8.8 | 8.7 | 14.9 | 23.1 | 16.8 | 10.6 | 24.1 | 25.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 9 years. Last went ex-dividend on 9 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.15 | 0.199 | 0.17 | 0.07 | 0.25 | 0.31 | 0.19 | 0.11 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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