C 
2.87
+3.61%
Close of 9 Nov 2026, in HKD
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.98bn
FY2016FY2025
Net income
CN¥200.8m
FY2016FY2025
Free cash flow
−CN¥89.3m
FY2016FY2025
Shareholders' equity
CN¥2.15bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.98bn | CN¥2.48bn | CN¥3.53bn | CN¥2.60bn | CN¥3.65bn | CN¥3.12bn | CN¥2.63bn | CN¥1.36bn | CN¥1.27bn | CN¥1.99bn |
| Gross profit | CN¥805.1m | CN¥673.6m | CN¥725.3m | CN¥358.0m | CN¥1.42bn | CN¥1.07bn | CN¥1.04bn | CN¥595.1m | CN¥583.0m | CN¥344.7m |
| Research and development | CN¥409,330 | CN¥2.3m | CN¥3.5m | CN¥11.5m | CN¥9.3m | CN¥13.1m | CN¥11.9m | CN¥5.8m | CN¥553,936 | CN¥553,936 |
| Operating income | CN¥389.6m | CN¥377.0m | CN¥346.9m | CN¥56.1m | CN¥1.04bn | CN¥672.6m | CN¥698.6m | CN¥330.4m | CN¥339.1m | CN¥61.8m |
| Net income | CN¥200.8m | CN¥180.9m | CN¥177.0m | −CN¥51.3m | CN¥768.5m | CN¥442.5m | CN¥345.9m | CN¥209.5m | CN¥1.02bn | −CN¥241.9m |
| Diluted earnings per share | 0.10 | 0.09 | 0.09 | -0.03 | 0.40 | 0.23 | 0.19 | 0.11 | 0.56 | -0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.71bn | CN¥3.59bn | CN¥4.22bn | CN¥3.92bn | CN¥4.44bn | CN¥3.80bn | CN¥2.72bn | CN¥4.30bn | CN¥4.59bn | CN¥4.53bn |
| Cash and short-term investments | CN¥1.51bn | CN¥359.9m | CN¥775.4m | CN¥291.3m | CN¥327.1m | CN¥211.4m | CN¥45.7m | CN¥919.7m | CN¥934.9m | CN¥550.6m |
| Total liabilities | CN¥2.45bn | CN¥2.15bn | CN¥2.52bn | CN¥2.43bn | CN¥2.62bn | CN¥2.44bn | CN¥1.77bn | CN¥2.50bn | CN¥2.95bn | CN¥3.59bn |
| Debt | CN¥1.31bn | CN¥898.1m | CN¥789.0m | CN¥608.2m | CN¥646.0m | CN¥743.9m | CN¥725.6m | CN¥1.53bn | CN¥1.63bn | CN¥2.17bn |
| Shareholders' equity | CN¥2.15bn | CN¥1.43bn | CN¥1.64bn | CN¥1.49bn | CN¥1.82bn | CN¥1.35bn | CN¥938.4m | CN¥1.58bn | CN¥1.42bn | CN¥702.1m |
| Shares outstanding | 1,959m | 1,920m | 1,923m | 1,932m | 1,942m | 1,960m | 1,820m | 1,829m | 1,830m | 1,830m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥131.2m | CN¥178.7m | CN¥372.0m | CN¥226.3m | CN¥1.17bn | CN¥1.10bn | CN¥777.9m | CN¥1.14bn | CN¥401.3m | CN¥693.1m |
| Capital spending | −CN¥220.6m | −CN¥138.3m | −CN¥155.8m | −CN¥180.9m | −CN¥259.0m | −CN¥142.2m | −CN¥359.0m | −CN¥292.3m | −CN¥388.5m | −CN¥534.2m |
| Free cash flow | −CN¥89.3m | CN¥40.4m | CN¥216.2m | CN¥45.4m | CN¥911.4m | CN¥953.5m | CN¥418.9m | CN¥844.3m | CN¥12.8m | CN¥158.9m |
| Dividends paid | −CN¥44.1m | −CN¥69.7m | −CN¥45.0m | −CN¥277.5m | −CN¥251.1m | −CN¥226.0m | −CN¥37.5m | −CN¥17.4m | −CN¥372.9m | −CN¥17.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.05bn | CN¥1.35bn | CN¥1.64bn | CN¥1.22bn | CN¥1.27bn | CN¥1.53bn | CN¥1.74bn | CN¥1.45bn |
| Gross profit | CN¥218.1m | CN¥384.4m | CN¥420.7m | CN¥326.6m | CN¥347.0m | CN¥399.9m | CN¥259.0m | CN¥103.2m |
| Operating income | CN¥42.9m | CN¥153.3m | CN¥236.3m | CN¥161.8m | CN¥210.5m | CN¥228.2m | CN¥80.7m | −CN¥100.8m |
| Net income | −CN¥59.8m | CN¥79.1m | CN¥121.7m | CN¥73.5m | CN¥107.5m | CN¥118.1m | CN¥39.2m | −CN¥115.6m |
| Diluted earnings per share | -0.03 | 0.04 | 0.06 | 0.04 | 0.06 | 0.06 | 0.02 | -0.06 |
| Cash from operations | −CN¥72.0m | CN¥278.0m | −CN¥146.0m | CN¥80.0m | CN¥98.0m | CN¥201.0m | CN¥170.0m | CN¥308.0m |
| Capital spending | −CN¥123.0m | −CN¥205.0m | −CN¥15.0m | −CN¥25.0m | −CN¥36.0m | −CN¥25.0m | −CN¥23.0m | −CN¥52.0m |
| Free cash flow | −CN¥195.0m | CN¥73.0m | −CN¥161.0m | CN¥55.0m | CN¥62.0m | CN¥176.0m | CN¥147.0m | CN¥256.0m |
| Total assets | CN¥5.46bn | CN¥4.71bn | CN¥4.73bn | CN¥3.59bn | CN¥3.55bn | CN¥4.22bn | CN¥4.35bn | CN¥3.92bn |
| Cash and short-term investments | CN¥2.33bn | CN¥1.51bn | CN¥524.6m | CN¥359.9m | CN¥347.4m | CN¥775.4m | CN¥214.7m | CN¥291.3m |
| Debt | CN¥593.9m | CN¥1.31bn | CN¥1.29bn | CN¥905.0m | CN¥778.1m | CN¥920.1m | CN¥907.0m | CN¥709.2m |
| Shareholders' equity | CN¥3.03bn | CN¥2.15bn | CN¥1.78bn | CN¥1.43bn | CN¥1.47bn | CN¥1.64bn | CN¥1.53bn | CN¥1.49bn |
Financial ratios
Data as of 8 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 27.0% | 27.1% | 20.5% | 13.8% | 38.9% | 34.3% |
| Operating margin | 13.1% | 14.9% | 9.0% | 2.3% | 28.5% | 21.5% |
| Net margin | 6.7% | 7.3% | 5.0% | -2.0% | 21.1% | 14.2% |
| Return on equity | 9.4% | 12.6% | 10.8% | -4.0% | 42.2% | 32.8% |
| Return on assets | 4.3% | 5.0% | 4.2% | -1.5% | 17.3% | 11.6% |
| Free cash flow yield | 5.1% | 5.5% | 7.8% | 6.0% | 20.9% | 18.0% |
| Revenue growth | 3.0% | -18.0% | 16.4% | -16.8% | 16.8% | 18.8% |
| Earnings growth | -4.9% | 19.2% | -395.9% | -107.8% | 73.7% | 27.9% |
| Current ratio | 1.14x | 0.93x | 0.81x | 0.81x | 0.98x | 0.79x |
| Debt to equity | 0.61x | 0.63x | 0.56x | 0.47x | 0.41x | 0.64x |
| Equity ratio | 45.6% | 39.9% | 38.8% | 37.9% | 40.9% | 35.4% |
| Interest coverage | 4.81x | 5.49x | 3.90x | 0.89x | 11.37x | 6.68x |
| R&D as a share of sales | 0.0% | 0.1% | 0.1% | 0.4% | 0.3% | 0.4% |
| Buybacks as a share of market value | -2.0% | 0.2% | 0.5% | 0.5% | 0.9% | -7.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.7% | -0.9% | 7.7% |
| Operating income | 90.8% | -10.3% | 52.2% |
| Net income | — | -14.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 27.0% | 22.1% | 27.5% | 29.4% |
| Operating margin | 14.0% | 10.1% | 15.7% | 16.0% |
| Net margin | 7.0% | 4.4% | 9.4% | 9.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 30.5 | 7.2 | 7.5 | -25.8 | 2.9 | 5.3 | 7.6 | 7.6 | 2.1 | -7.1 |
| Price to sales | 2.0 | 0.5 | 0.4 | 0.5 | 0.6 | 0.8 | 1.0 | 1.2 | 1.7 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 9 years. Last went ex-dividend on 30 May 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.02 | 0.04 | 0.02 | 0.14 | 0.14 | 0.12 | 0.02 | 0.01 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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