W 
4.35
-1.36%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥4.06bn
FY2016FY2025
Net income
CN¥92.9m
FY2016FY2025
Free cash flow
−CN¥769.8m
FY2016FY2025
Shareholders' equity
CN¥7.37bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.06bn | CN¥3.77bn | CN¥3.10bn | CN¥2.89bn | CN¥2.86bn | CN¥1.64bn | CN¥1.53bn | CN¥1.45bn | CN¥1.25bn | CN¥1.20bn |
| Gross profit | CN¥751.7m | CN¥703.3m | CN¥394.0m | CN¥582.7m | CN¥612.9m | CN¥470.4m | CN¥456.5m | CN¥418.6m | CN¥318.6m | CN¥328.7m |
| Research and development | CN¥96.8m | CN¥107.0m | CN¥73.0m | CN¥63.5m | CN¥58.7m | CN¥1.9m | — | — | CN¥427,842 | CN¥290,259 |
| Operating income | CN¥365.1m | CN¥80.9m | CN¥196.1m | CN¥393.7m | CN¥828.9m | CN¥560.4m | CN¥471.2m | CN¥437.0m | CN¥425.1m | CN¥187.8m |
| Net income | CN¥92.9m | CN¥88.2m | CN¥144.7m | CN¥7.2m | CN¥437.1m | CN¥255.4m | CN¥249.7m | CN¥279.9m | CN¥327.9m | CN¥300.7m |
| Diluted earnings per share | 0.09 | 0.11 | 0.16 | 0.01 | 0.43 | 0.26 | 0.24 | 0.27 | 0.33 | 0.29 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥25.03bn | CN¥24.37bn | CN¥22.51bn | CN¥20.40bn | CN¥18.07bn | CN¥16.35bn | CN¥15.59bn | CN¥12.89bn | CN¥10.47bn | CN¥8.62bn |
| Cash and short-term investments | CN¥1.10bn | CN¥1.59bn | CN¥1.42bn | CN¥1.22bn | CN¥882.0m | CN¥1.50bn | CN¥1.44bn | CN¥1.12bn | CN¥655.5m | CN¥506.0m |
| Total liabilities | CN¥17.40bn | CN¥18.84bn | CN¥17.05bn | CN¥15.09bn | CN¥12.09bn | CN¥10.71bn | CN¥10.15bn | CN¥7.65bn | CN¥5.45bn | CN¥3.84bn |
| Debt | CN¥13.86bn | CN¥11.67bn | CN¥13.54bn | CN¥10.99bn | CN¥8.98bn | CN¥7.84bn | CN¥6.44bn | CN¥5.01bn | CN¥3.67bn | CN¥2.16bn |
| Shareholders' equity | CN¥7.37bn | CN¥5.31bn | CN¥5.24bn | CN¥5.09bn | CN¥5.75bn | CN¥5.40bn | CN¥5.19bn | CN¥5.00bn | CN¥4.81bn | CN¥4.57bn |
| Shares outstanding | 993m | 806m | 900m | 801m | 1,011m | 977m | 1,046m | 1,032m | 1,008m | 1,032m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥210.2m | CN¥13.0m | CN¥833.9m | CN¥286.8m | CN¥198.7m | CN¥1.12bn | CN¥1.08bn | CN¥277.3m | CN¥152.5m | CN¥205.7m |
| Capital spending | −CN¥559.6m | −CN¥1.45bn | −CN¥1.94bn | −CN¥1.52bn | −CN¥1.76bn | −CN¥2.01bn | −CN¥1.76bn | −CN¥1.19bn | −CN¥1.29bn | −CN¥468.8m |
| Free cash flow | −CN¥769.8m | −CN¥1.44bn | −CN¥1.11bn | −CN¥1.24bn | −CN¥1.56bn | −CN¥881.1m | −CN¥675.8m | −CN¥913.0m | −CN¥1.14bn | −CN¥263.1m |
| Dividends paid | −CN¥26.8m | −CN¥537.2m | −CN¥462.5m | −CN¥119.9m | −CN¥76.6m | −CN¥75.2m | −CN¥84.4m | −CN¥251.6m | −CN¥179.2m | −CN¥161.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥992.2m | CN¥892.3m | CN¥1.05bn | CN¥961.4m | CN¥1.05bn | CN¥1.02bn | CN¥921.4m | CN¥1.04bn |
| Gross profit | CN¥241.5m | CN¥146.7m | CN¥170.2m | CN¥191.1m | CN¥241.0m | CN¥191.6m | CN¥88.9m | CN¥242.0m |
| Operating income | CN¥208.8m | CN¥120.4m | CN¥67.2m | CN¥68.6m | CN¥160.4m | CN¥155.6m | CN¥27.2m | −CN¥19.5m |
| Net income | CN¥60.0m | CN¥41.3m | CN¥10.0m | −CN¥5.8m | CN¥57.5m | CN¥31.2m | CN¥15.5m | −CN¥8.6m |
| Diluted earnings per share | 0.06 | 0.04 | 0.01 | -0.01 | 0.06 | 0.03 | 0.02 | -0.01 |
| Cash from operations | — | — | CN¥172.0m | −CN¥287.0m | −CN¥167.0m | CN¥72.0m | — | −CN¥109.0m |
| Capital spending | −CN¥11.0m | −CN¥290.0m | −CN¥92.0m | −CN¥20.0m | −CN¥156.0m | −CN¥603.0m | −CN¥176.0m | −CN¥356.0m |
| Free cash flow | — | — | CN¥80.0m | −CN¥307.0m | −CN¥323.0m | −CN¥531.0m | — | −CN¥465.0m |
| Total assets | CN¥25.41bn | CN¥25.35bn | CN¥25.03bn | CN¥24.44bn | CN¥24.41bn | CN¥23.87bn | CN¥24.37bn | CN¥23.54bn |
| Cash and short-term investments | — | — | CN¥1.10bn | CN¥839.6m | CN¥1.35bn | CN¥1.14bn | CN¥1.59bn | CN¥1.19bn |
| Debt | CN¥7.20bn | CN¥7.50bn | CN¥13.70bn | CN¥6.61bn | CN¥12.45bn | CN¥13.27bn | CN¥11.66bn | CN¥12.04bn |
| Shareholders' equity | CN¥7.42bn | CN¥7.42bn | CN¥7.37bn | CN¥5.37bn | CN¥6.37bn | CN¥5.34bn | CN¥5.31bn | CN¥5.27bn |
Financial ratios
Data as of 19 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 18.5% | 18.6% | 12.7% | 20.1% | 21.4% | 28.6% |
| Operating margin | 9.0% | 16.4% | 21.2% | 13.8% | 30.2% | 36.0% |
| Net margin | 2.3% | 2.3% | 4.7% | 0.2% | 15.3% | 15.5% |
| Return on equity | 1.3% | 1.7% | 2.8% | 0.1% | 7.6% | 4.7% |
| Return on assets | 0.4% | 0.4% | 0.6% | 0.0% | 2.4% | 1.6% |
| Free cash flow yield | 8.1% | 41.9% | 71.2% | 52.2% | 44.6% | 74.0% |
| Revenue growth | 7.5% | 21.6% | 7.2% | 1.1% | 74.1% | 7.5% |
| Earnings growth | 5.3% | -39.0% | 1908.6% | -98.4% | 71.1% | 2.3% |
| Current ratio | 0.92x | 0.77x | 0.90x | 0.98x | 1.07x | 0.81x |
| Debt to equity | 1.86x | 2.19x | 2.54x | 1.95x | 1.47x | 1.34x |
| Equity ratio | 29.5% | 21.8% | 23.3% | 25.0% | 31.8% | 33.0% |
| Interest coverage | 0.78x | 1.19x | 1.42x | 1.05x | 2.41x | 2.04x |
| R&D as a share of sales | 2.4% | 2.8% | 2.4% | 2.2% | 2.1% | 0.1% |
| Buybacks as a share of market value | -23.2% | 10.4% | -12.4% | 20.8% | -3.5% | 6.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.9% | 19.8% | 13.0% |
| Operating income | -2.5% | -8.2% | 7.3% |
| Net income | 134.5% | -18.3% | -12.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.6% | 17.6% | 19.2% | 21.7% |
| Operating margin | 5.7% | 7.5% | 13.2% | 16.5% |
| Net margin | 2.3% | 2.4% | 5.6% | 10.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 54.5 | 40.5 | 30.1 | 482.8 | 11.3 | 18.8 | 20.0 | 15.2 | 18.4 | 25.7 |
| Price to sales | 1.3 | 0.9 | 1.4 | 1.2 | 1.7 | 2.9 | 3.3 | 2.9 | 4.8 | 6.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 26 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.028 | 0.027 | 0.044 | 0.121 | 0.077 | 0.076 | 0.085 | 0.099 |
- 7-for-5 split · 20 Jun 2024
- 1-to-1 reverse split · 20 Apr 2006
- 6-for-5 split · 21 Jul 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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