Z 
32.71
-2.65%
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¥4.09bn
FY2019FY2025
Net income
CN¥215.0m
FY2019FY2025
Free cash flow
−CN¥360.0m
FY2019FY2025
Shareholders' equity
CN¥1.23bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.09bn | CN¥1.93bn | CN¥1.84bn | CN¥1.65bn | CN¥964.4m | CN¥294.8m | CN¥200.1m |
| Gross profit | CN¥804.6m | CN¥410.8m | CN¥403.3m | CN¥311.7m | CN¥187.9m | CN¥44.6m | CN¥19.6m |
| Research and development | CN¥284.4m | CN¥200.1m | CN¥211.2m | CN¥113.3m | CN¥54.3m | CN¥38.7m | CN¥41.7m |
| Operating income | CN¥378.1m | CN¥86.8m | CN¥93.3m | CN¥82.8m | CN¥56.1m | −CN¥27.9m | −CN¥60.0m |
| Net income | CN¥215.0m | CN¥94.6m | CN¥96.4m | CN¥86.8m | CN¥57.6m | −CN¥14.8m | −CN¥61.0m |
| Diluted earnings per share | 1.38 | 0.66 | 0.83 | 0.56 | 0.37 | -0.10 | -0.39 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.07bn | CN¥2.29bn | CN¥1.64bn | CN¥1.54bn | CN¥1.18bn | CN¥503.8m | CN¥308.4m |
| Cash and short-term investments | — | CN¥507.9m | CN¥458.2m | CN¥456.4m | CN¥316.5m | CN¥173.9m | CN¥70.9m |
| Total liabilities | CN¥2.84bn | CN¥1.29bn | CN¥1.06bn | CN¥1.08bn | CN¥834.6m | CN¥339.5m | CN¥229.3m |
| Debt | CN¥81.5m | CN¥64.9m | CN¥20.9m | CN¥89.8m | CN¥79.7m | CN¥37.3m | CN¥31.0m |
| Shareholders' equity | CN¥1.23bn | CN¥1.00bn | CN¥577.3m | CN¥454.6m | CN¥343.9m | CN¥164.3m | CN¥79.1m |
| Shares outstanding | 156m | 143m | 117m | 156m | 156m | 156m | 156m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥14.7m | CN¥25.9m | CN¥104.6m | CN¥216.8m | CN¥27.3m | CN¥17.8m | −CN¥17.4m |
| Capital spending | −CN¥345.4m | −CN¥150.0m | −CN¥76.5m | −CN¥49.6m | −CN¥64.6m | −CN¥26.9m | −CN¥16.6m |
| Free cash flow | −CN¥360.0m | −CN¥124.0m | CN¥28.2m | CN¥167.2m | −CN¥37.3m | −CN¥9.1m | −CN¥34.1m |
| Dividends paid | −CN¥4.7m | −CN¥107,977 | −CN¥42,052 | −CN¥262,332 | −CN¥1.3m | −CN¥1.9m | −CN¥1.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.39bn | CN¥1.05bn | CN¥1.53bn | CN¥1.08bn | CN¥968.3m | CN¥506.2m | CN¥750.7m | CN¥520.9m |
| Gross profit | CN¥261.8m | CN¥181.3m | CN¥305.8m | CN¥223.8m | CN¥181.9m | CN¥93.1m | CN¥98.3m | CN¥114.4m |
| Operating income | CN¥128.5m | CN¥70.9m | CN¥158.2m | CN¥65.4m | CN¥48.2m | CN¥21.3m | CN¥5.6m | CN¥23.8m |
| Net income | CN¥80.9m | CN¥77.0m | CN¥78.0m | CN¥70.0m | CN¥47.3m | CN¥19.7m | CN¥12.1m | CN¥24.4m |
| Diluted earnings per share | 0.52 | 0.49 | 0.50 | 0.45 | 0.30 | 0.13 | 0.08 | 0.17 |
| Cash from operations | — | — | — | CN¥13.0m | −CN¥8.0m | −CN¥8.0m | — | — |
| Capital spending | −CN¥74.0m | −CN¥41.0m | −CN¥59.0m | −CN¥91.0m | −CN¥83.0m | −CN¥110.0m | −CN¥86.0m | −CN¥16.0m |
| Free cash flow | — | — | — | −CN¥78.0m | −CN¥91.0m | −CN¥118.0m | — | — |
| Total assets | CN¥4.48bn | CN¥3.76bn | CN¥4.07bn | CN¥3.47bn | CN¥3.04bn | CN¥2.46bn | CN¥2.29bn | CN¥1.97bn |
| Cash and short-term investments | — | — | — | CN¥346.8m | CN¥351.3m | CN¥402.0m | CN¥507.9m | CN¥565.5m |
| Debt | CN¥82.3m | CN¥82.3m | CN¥81.5m | CN¥494.1m | CN¥73.1m | CN¥45.6m | CN¥48.3m | CN¥1.0m |
| Shareholders' equity | CN¥1.90bn | CN¥1.31bn | CN¥1.23bn | CN¥1.14bn | CN¥1.07bn | CN¥1.02bn | CN¥1.00bn | CN¥983.7m |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 19.7% | 21.2% | 22.0% | 18.9% | 19.5% | 15.1% |
| Operating margin | 5.2% | 4.8% | 5.5% | 5.4% | 6.4% | -8.5% |
| Net margin | 5.3% | 4.9% | 5.3% | 5.3% | 6.0% | -5.0% |
| Return on equity | 17.5% | 9.5% | 16.7% | 19.1% | 16.8% | -9.0% |
| Return on assets | 5.3% | 4.1% | 5.9% | 5.7% | 4.9% | -2.9% |
| Free cash flow yield | 6.5% | 3.7% | 4.7% | — | — | — |
| Revenue growth | 111.6% | 5.4% | 11.2% | 71.1% | 227.1% | 47.3% |
| Earnings growth | 127.3% | -1.9% | 11.1% | 50.5% | -489.1% | -75.7% |
| Current ratio | 1.24x | 1.61x | 1.26x | 1.27x | 1.26x | 1.23x |
| Debt to equity | 0.07x | 0.05x | 0.00x | 0.00x | 0.04x | 0.20x |
| Equity ratio | 30.2% | 43.8% | 35.2% | 29.6% | 29.2% | 32.6% |
| Interest coverage | 19.65x | 16.46x | 14.28x | 13.06x | 10.88x | -8.49x |
| R&D as a share of sales | 6.9% | 10.3% | 11.5% | 6.9% | 5.6% | 13.1% |
| Buybacks as a share of market value | -8.4% | -23.1% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 35.4% | 69.2% | — |
| Operating income | 65.9% | — | — |
| Net income | 35.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.2% | 20.3% | 20.1% | — |
| Operating margin | 7.7% | 6.7% | 6.2% | — |
| Net margin | 5.1% | 5.2% | 5.0% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | |
|---|---|---|
| Price to earnings | 29.0 | 41.1 |
| Price to sales | 1.5 | 2.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 6 Jun 2025.
| FY2025 | |
|---|---|
| Paid in the year | 0.013 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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