A 
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Close of 9 Nov 2026, in HKD
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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¥15.01bn
FY2016FY2025
Net income
CN¥122.2m
FY2016FY2025
Free cash flow
CN¥820.5m
FY2016FY2025
Shareholders' equity
CN¥10.96bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥15.01bn | CN¥13.87bn | CN¥15.44bn | CN¥17.91bn | CN¥16.40bn | CN¥11.68bn | CN¥5.97bn | CN¥3.93bn | CN¥2.05bn | CN¥1.45bn |
| Gross profit | CN¥1.95bn | CN¥2.08bn | CN¥2.65bn | CN¥3.94bn | CN¥4.51bn | CN¥3.46bn | CN¥2.19bn | CN¥1.50bn | CN¥687.7m | CN¥362.9m |
| Operating income | CN¥301.4m | −CN¥3.49bn | CN¥1.02bn | CN¥2.81bn | CN¥3.57bn | CN¥2.87bn | CN¥1.97bn | CN¥1.25bn | CN¥464.0m | CN¥252.9m |
| Net income | CN¥122.2m | −CN¥3.27bn | CN¥460.9m | CN¥2.14bn | CN¥2.69bn | CN¥2.04bn | CN¥1.43bn | CN¥932.9m | CN¥337.4m | CN¥187.1m |
| Diluted earnings per share | 0.09 | -2.30 | 0.32 | 1.51 | 1.89 | 1.53 | 1.07 | 0.70 | 0.34 | 0.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥23.57bn | CN¥23.58bn | CN¥28.01bn | CN¥26.44bn | CN¥23.50bn | CN¥16.27bn | CN¥10.93bn | CN¥8.50bn | CN¥2.92bn | CN¥2.21bn |
| Cash and short-term investments | CN¥4.64bn | CN¥6.18bn | CN¥7.07bn | CN¥5.64bn | CN¥5.73bn | CN¥6.58bn | CN¥5.41bn | CN¥5.60bn | CN¥1.02bn | CN¥609.3m |
| Total liabilities | CN¥10.56bn | CN¥10.59bn | CN¥11.18bn | CN¥9.99bn | CN¥8.47bn | CN¥6.19bn | CN¥3.36bn | CN¥2.08bn | CN¥1.21bn | CN¥1.86bn |
| Debt | CN¥467.7m | CN¥506.7m | CN¥374.5m | CN¥157.0m | CN¥156.3m | CN¥270.8m | CN¥46.8m | — | — | CN¥795.4m |
| Shareholders' equity | CN¥10.96bn | CN¥10.96bn | CN¥14.92bn | CN¥14.52bn | CN¥13.03bn | CN¥8.57bn | CN¥7.21bn | CN¥6.31bn | CN¥1.71bn | CN¥325.7m |
| Shares outstanding | 1,419m | 1,420m | 1,420m | 1,420m | 1,421m | 1,333m | 1,333m | 1,333m | 1,000m | 1,333m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥891.6m | CN¥428.8m | CN¥1.16bn | −CN¥1.09bn | CN¥3.08bn | CN¥3.05bn | CN¥1.86bn | CN¥1.03bn | CN¥334.6m | CN¥400.5m |
| Capital spending | −CN¥71.1m | −CN¥108.5m | −CN¥251.2m | −CN¥279.3m | −CN¥101.8m | −CN¥73.4m | −CN¥21.8m | −CN¥24.6m | −CN¥19.6m | −CN¥7.1m |
| Free cash flow | CN¥820.5m | CN¥320.2m | CN¥910.6m | −CN¥1.37bn | CN¥2.98bn | CN¥2.98bn | CN¥1.84bn | CN¥1.00bn | CN¥315.0m | CN¥393.4m |
| Dividends paid | −CN¥99.2m | −CN¥120.7m | — | −CN¥678.0m | −CN¥807.4m | −CN¥696.9m | −CN¥465.8m | −CN¥58.2m | −CN¥314.0m | −CN¥314.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥6.96bn | CN¥7.48bn | CN¥7.53bn | CN¥6.84bn | CN¥3.99bn | CN¥7.02bn | CN¥4.09bn | CN¥7.74bn |
| Gross profit | CN¥1.03bn | CN¥859.4m | CN¥1.09bn | CN¥890.7m | CN¥518.7m | CN¥1.19bn | CN¥694.9m | CN¥1.07bn |
| Operating income | CN¥688.4m | −CN¥382.3m | CN¥683.8m | −CN¥1.45bn | −CN¥845.6m | −CN¥2.04bn | −CN¥1.19bn | CN¥58.2m |
| Net income | CN¥363.9m | −CN¥285.7m | CN¥407.9m | −CN¥1.64bn | −CN¥952.9m | −CN¥1.63bn | −CN¥951.5m | −CN¥378.1m |
| Diluted earnings per share | 0.26 | -0.20 | 0.29 | -1.15 | -0.67 | -1.15 | -0.67 | -0.27 |
| Cash from operations | — | CN¥1.12bn | −CN¥135.0m | CN¥806.0m | — | −CN¥370.0m | −CN¥219.0m | CN¥963.0m |
| Capital spending | — | −CN¥32.0m | −CN¥37.0m | −CN¥56.0m | — | −CN¥52.0m | −CN¥30.0m | −CN¥191.0m |
| Free cash flow | — | CN¥1.09bn | −CN¥172.0m | CN¥750.0m | — | −CN¥422.0m | −CN¥249.0m | CN¥772.0m |
| Total assets | CN¥23.29bn | CN¥23.57bn | CN¥23.69bn | CN¥20.25bn | CN¥23.58bn | CN¥21.90bn | CN¥25.50bn | CN¥24.05bn |
| Cash and short-term investments | CN¥4.06bn | CN¥4.64bn | CN¥4.19bn | CN¥5.31bn | CN¥6.18bn | CN¥5.04bn | CN¥5.87bn | CN¥6.07bn |
| Debt | CN¥212.8m | CN¥467.7m | CN¥548.3m | CN¥506.7m | CN¥321.1m | CN¥475.1m | CN¥328.9m | CN¥374.5m |
| Shareholders' equity | CN¥11.23bn | CN¥10.96bn | CN¥11.31bn | CN¥9.41bn | CN¥10.96bn | CN¥11.09bn | CN¥12.91bn | CN¥12.81bn |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 13.0% | 15.0% | 17.1% | 22.0% | 27.5% | 29.7% | — |
| Operating margin | 7.3% | -21.9% | 6.9% | 16.1% | 22.0% | 25.2% | — |
| Net margin | 0.8% | -23.6% | 3.0% | 12.0% | 16.4% | 17.5% | — |
| Return on equity | 1.1% | -34.8% | 3.6% | 14.8% | 20.6% | 23.9% | — |
| Return on assets | 0.5% | -16.2% | 1.9% | 8.1% | 11.4% | 12.6% | — |
| Free cash flow yield | 33.1% | 21.5% | 48.6% | -27.8% | 109.2% | 114.4% | — |
| Revenue growth | -7.0% | -10.2% | 0.4% | 9.2% | 40.4% | 95.5% | — |
| Earnings growth | -103.2% | -809.7% | -74.9% | -20.3% | 31.6% | 42.5% | — |
| Current ratio | 1.45x | 1.51x | 1.82x | 1.87x | 1.98x | 1.87x | — |
| Debt to equity | 0.04x | 0.05x | 0.03x | 0.01x | 0.01x | 0.03x | — |
| Equity ratio | 46.5% | 46.5% | 53.3% | 54.9% | 55.5% | 52.6% | — |
| Interest coverage | 29.39x | -105.43x | 53.09x | 133.07x | 124.58x | 62.64x | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.1% |
| Buybacks as a share of market value | 0.1% | 0.0% | 0.0% | 0.1% | -6.6% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.7% | 5.2% | 30.0% |
| Operating income | -52.5% | -36.3% | 11.4% |
| Net income | -61.5% | -43.1% | 4.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 14.0% | 17.1% | 20.6% | 22.4% |
| Operating margin | -11.1% | 1.0% | 7.8% | 10.6% |
| Net margin | -10.9% | -0.9% | 4.6% | 6.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | 22.9 | -1.1 | 9.6 | 5.4 | 6.1 | 19.4 | 21.7 | 13.1 |
| Price to sales | 0.2 | 0.3 | 0.3 | 0.7 | 1.0 | 3.4 | 5.2 | 3.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 7 years. Last went ex-dividend on 4 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.059 | 0.101 | 0.098 | 0.027 | 0.479 | 0.229 | 0.246 | 0.171 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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