Z 
14.07
-0.78%
Close of 9 Nov 2026, in CNY
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.07bn
FY2019FY2025
Net income
CN¥27.6m
FY2019FY2025
Free cash flow
−CN¥395.8m
FY2019FY2025
Shareholders' equity
CN¥804.0m
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.07bn | CN¥1.03bn | CN¥961.6m | CN¥956.4m | CN¥946.7m | CN¥617.2m | CN¥542.4m |
| Gross profit | CN¥184.8m | CN¥152.5m | CN¥159.4m | CN¥138.8m | CN¥136.7m | CN¥124.7m | CN¥117.8m |
| Research and development | CN¥32.0m | CN¥33.6m | CN¥30.5m | CN¥29.6m | CN¥29.9m | CN¥19.7m | CN¥16.6m |
| Operating income | CN¥35.2m | CN¥54.1m | CN¥82.2m | CN¥79.0m | CN¥69.2m | CN¥60.5m | CN¥51.9m |
| Net income | CN¥27.6m | CN¥50.1m | CN¥72.9m | CN¥72.5m | CN¥68.1m | CN¥52.1m | CN¥43.1m |
| Diluted earnings per share | 0.18 | 0.33 | 0.66 | 0.65 | 0.61 | 0.34 | 0.28 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥1.97bn | CN¥1.62bn | CN¥1.12bn | CN¥1.02bn | CN¥1.12bn | CN¥660.8m | CN¥551.5m |
| Cash and short-term investments | — | CN¥208.6m | CN¥56.8m | CN¥60.8m | CN¥231.7m | CN¥131.3m | CN¥94.3m |
| Total liabilities | CN¥1.17bn | CN¥841.6m | CN¥678.2m | CN¥650.4m | CN¥823.6m | CN¥420.0m | CN¥426.4m |
| Debt | CN¥258.9m | CN¥628.3m | CN¥108.7m | CN¥472.6m | CN¥574.1m | CN¥280.8m | CN¥267.3m |
| Shareholders' equity | CN¥804.0m | CN¥776.8m | CN¥443.5m | CN¥369.2m | CN¥295.4m | CN¥240.7m | CN¥125.0m |
| Shares outstanding | 153m | 151m | 111m | 111m | 111m | 153m | 153m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥79.9m | CN¥100.5m | CN¥111.7m | CN¥147.2m | CN¥1.8m | CN¥65.6m | CN¥50.6m |
| Capital spending | −CN¥315.9m | −CN¥259.3m | −CN¥63.8m | −CN¥105.7m | −CN¥110.3m | −CN¥66.1m | −CN¥71.6m |
| Free cash flow | −CN¥395.8m | −CN¥158.8m | CN¥47.8m | CN¥41.5m | −CN¥108.5m | −CN¥569,600 | −CN¥21.0m |
| Dividends paid | −CN¥21.6m | −CN¥30.8m | −CN¥2.1m | −CN¥1.8m | −CN¥11.7m | −CN¥4.4m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥350.7m | CN¥287.6m | CN¥304.7m | CN¥266.6m | CN¥253.6m | CN¥247.6m | CN¥290.7m | CN¥267.6m |
| Gross profit | CN¥47.0m | CN¥22.1m | CN¥22.2m | CN¥39.5m | CN¥34.3m | CN¥30.7m | CN¥39.2m | CN¥49.0m |
| Operating income | CN¥14.7m | CN¥802,979 | −CN¥10.1m | CN¥15.3m | CN¥18.6m | CN¥10.7m | CN¥19.3m | CN¥16.2m |
| Net income | −CN¥3.0m | −CN¥14.7m | −CN¥16.0m | CN¥15.3m | CN¥18.1m | CN¥10.2m | CN¥17.5m | CN¥14.6m |
| Diluted earnings per share | -0.02 | -0.10 | -0.10 | 0.10 | 0.12 | 0.07 | 0.12 | 0.10 |
| Cash from operations | — | — | — | −CN¥11.0m | — | −CN¥11.0m | — | CN¥53.0m |
| Capital spending | −CN¥213.0m | −CN¥65.0m | −CN¥66.0m | −CN¥74.0m | −CN¥100.0m | −CN¥74.0m | −CN¥58.0m | −CN¥106.0m |
| Free cash flow | — | — | — | −CN¥85.0m | — | −CN¥85.0m | — | −CN¥53.0m |
| Total assets | CN¥2.53bn | CN¥2.11bn | CN¥1.97bn | CN¥1.88bn | CN¥1.79bn | CN¥1.71bn | CN¥1.62bn | CN¥1.55bn |
| Cash and short-term investments | — | — | — | CN¥102.4m | CN¥144.2m | CN¥173.6m | CN¥208.6m | CN¥234.6m |
| Debt | CN¥692.8m | CN¥354.0m | CN¥258.9m | CN¥584.7m | CN¥284.0m | CN¥199.2m | CN¥143.2m | CN¥572.7m |
| Shareholders' equity | CN¥759.6m | CN¥771.6m | CN¥804.0m | CN¥815.6m | CN¥798.7m | CN¥787.1m | CN¥776.8m | CN¥762.3m |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 17.2% | 14.8% | 16.6% | 14.5% | 14.4% | 20.2% | — |
| Operating margin | 2.6% | 5.6% | 9.1% | 9.1% | 8.3% | 10.5% | — |
| Net margin | 2.6% | 4.9% | 7.6% | 7.6% | 7.2% | 8.4% | — |
| Return on equity | 3.4% | 6.5% | 16.4% | 19.6% | 23.1% | 21.7% | — |
| Return on assets | 1.4% | 3.1% | 6.5% | 7.1% | 6.1% | 7.9% | — |
| Free cash flow yield | 10.6% | 16.4% | 10.9% | 15.7% | 6.9% | — | — |
| Revenue growth | 4.3% | 6.9% | 0.5% | 1.0% | 53.4% | 13.8% | — |
| Earnings growth | -44.9% | -31.3% | 0.7% | 6.4% | 30.7% | 20.8% | — |
| Current ratio | 0.89x | 0.92x | 0.74x | 0.69x | 0.81x | 0.94x | — |
| Debt to equity | 0.32x | 0.80x | 0.19x | 1.17x | 1.75x | — | 0.79x |
| Equity ratio | 40.8% | 48.0% | 39.5% | 36.2% | 26.4% | 36.4% | — |
| Interest coverage | 5.63x | 14.52x | 15.35x | 10.47x | 21.88x | 12.87x | — |
| R&D as a share of sales | 3.0% | 3.3% | 3.2% | 3.1% | 3.2% | 3.2% | — |
| Buybacks as a share of market value | -1.3% | -36.1% | 0.0% | 0.0% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.9% | 11.7% | — |
| Operating income | -23.7% | -10.3% | — |
| Net income | -27.5% | -11.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.1% | 15.8% | 16.1% | — |
| Operating margin | 4.2% | 6.2% | 6.8% | — |
| Net margin | 3.7% | 5.6% | 6.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | |
|---|---|---|
| Price to earnings | 116.0 | 65.6 |
| Price to sales | 3.0 | 3.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 10 Jun 2025.
| FY2025 | FY2024 | |
|---|---|---|
| Paid in the year | 0.10 | 0.20 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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