A 
2.88
0.00%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥4.75bn
FY2016FY2025
Net income
CN¥30.9m
FY2016FY2025
Free cash flow
−CN¥326.3m
FY2016FY2025
Shareholders' equity
CN¥1.46bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.75bn | CN¥3.96bn | CN¥3.20bn | CN¥3.09bn | CN¥3.25bn | CN¥2.24bn | CN¥3.54bn | CN¥5.02bn | CN¥5.38bn | CN¥5.14bn |
| Gross profit | CN¥464.5m | CN¥309.3m | CN¥229.8m | CN¥316.6m | CN¥381.2m | CN¥238.4m | −CN¥35.4m | CN¥372.1m | CN¥452.9m | CN¥392.1m |
| Research and development | CN¥168.0m | CN¥162.3m | CN¥142.3m | CN¥132.5m | CN¥134.2m | CN¥85.5m | CN¥76.0m | CN¥111.9m | CN¥4.8m | CN¥67.3m |
| Operating income | CN¥72.4m | CN¥75.1m | −CN¥74.7m | CN¥69.9m | CN¥96.0m | CN¥63.0m | −CN¥398.9m | −CN¥1.21bn | CN¥204.3m | CN¥190.0m |
| Net income | CN¥30.9m | CN¥62.4m | −CN¥61.3m | CN¥97.7m | CN¥58.9m | CN¥61.2m | −CN¥1.13bn | −CN¥1.26bn | CN¥150.4m | CN¥191.8m |
| Diluted earnings per share | 0.02 | 0.03 | -0.03 | 0.05 | 0.03 | 0.03 | -0.70 | -0.73 | 0.10 | 0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.47bn | CN¥4.21bn | CN¥3.85bn | CN¥3.86bn | CN¥3.37bn | CN¥3.13bn | CN¥2.91bn | CN¥4.46bn | CN¥5.89bn | CN¥4.96bn |
| Cash and short-term investments | — | CN¥783.8m | CN¥700.0m | CN¥840.0m | CN¥810.5m | CN¥904.0m | CN¥805.9m | CN¥724.0m | CN¥730.3m | CN¥830.5m |
| Total liabilities | CN¥2.64bn | CN¥2.40bn | CN¥2.14bn | CN¥2.12bn | CN¥1.84bn | CN¥1.71bn | CN¥1.73bn | CN¥2.03bn | CN¥2.24bn | CN¥1.53bn |
| Debt | CN¥117.9m | CN¥866.2m | CN¥673.8m | CN¥592.3m | CN¥544.0m | CN¥375.5m | CN¥398.7m | CN¥571.8m | CN¥959.8m | CN¥565.0m |
| Shareholders' equity | CN¥1.46bn | CN¥1.43bn | CN¥1.37bn | CN¥1.41bn | CN¥1.26bn | CN¥1.18bn | CN¥1.04bn | CN¥2.21bn | CN¥3.46bn | CN¥3.32bn |
| Shares outstanding | 1,806m | 1,806m | 1,806m | 1,791m | 2,159m | 2,159m | 1,610m | 1,720m | 1,533m | 2,029m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥92.9m | −CN¥64.5m | CN¥38.8m | CN¥197.7m | −CN¥141.2m | CN¥43.0m | CN¥268.4m | CN¥118.9m | CN¥157.8m | CN¥131.7m |
| Capital spending | −CN¥233.4m | −CN¥87.2m | −CN¥196.9m | −CN¥384.3m | −CN¥198.1m | −CN¥50.5m | −CN¥9.1m | −CN¥22.5m | −CN¥36.3m | −CN¥50.1m |
| Free cash flow | −CN¥326.3m | −CN¥151.8m | −CN¥158.1m | −CN¥186.6m | −CN¥339.3m | −CN¥7.6m | CN¥259.3m | CN¥96.3m | CN¥121.5m | CN¥81.5m |
| Dividends paid | −CN¥34.1m | −CN¥29.2m | −CN¥32.5m | −CN¥26.0m | −CN¥22.5m | −CN¥25.3m | −CN¥50.3m | −CN¥107.7m | −CN¥102.9m | −CN¥57.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.51bn | CN¥1.21bn | CN¥1.33bn | CN¥1.24bn | CN¥1.15bn | CN¥1.02bn | CN¥1.09bn | CN¥1.02bn |
| Gross profit | CN¥115.8m | CN¥101.6m | CN¥95.2m | CN¥71.0m | CN¥80.4m | CN¥72.8m | CN¥78.1m | CN¥70.0m |
| Operating income | CN¥58.1m | CN¥45.1m | CN¥34.7m | CN¥1.2m | CN¥9.1m | CN¥18.4m | −CN¥4.4m | CN¥23.6m |
| Net income | CN¥26.2m | CN¥16.5m | CN¥11.3m | −CN¥160,587 | CN¥10.8m | CN¥8.9m | CN¥22.5m | CN¥5.7m |
| Diluted earnings per share | 0.01 | 0.01 | 0.01 | -0.00 | 0.01 | 0.00 | 0.01 | 0.00 |
| Cash from operations | — | — | — | −CN¥185.0m | −CN¥1.0m | −CN¥132.0m | −CN¥144.0m | −CN¥9.0m |
| Capital spending | −CN¥9.0m | −CN¥26.0m | −CN¥148.0m | −CN¥30.0m | −CN¥22.0m | −CN¥31.0m | −CN¥27.0m | −CN¥12.0m |
| Free cash flow | — | — | — | −CN¥215.0m | −CN¥23.0m | −CN¥163.0m | −CN¥171.0m | −CN¥21.0m |
| Total assets | CN¥4.70bn | CN¥4.44bn | CN¥4.47bn | CN¥4.44bn | CN¥4.31bn | CN¥4.31bn | CN¥4.21bn | CN¥4.04bn |
| Cash and short-term investments | — | — | — | CN¥693.9m | CN¥743.1m | CN¥760.7m | CN¥783.8m | CN¥785.4m |
| Debt | CN¥409.0m | CN¥241.8m | CN¥117.9m | CN¥1.94bn | CN¥904.8m | CN¥2.02bn | CN¥830.6m | CN¥1.80bn |
| Shareholders' equity | CN¥1.50bn | CN¥1.48bn | CN¥1.46bn | CN¥1.45bn | CN¥1.45bn | CN¥1.44bn | CN¥1.43bn | CN¥1.41bn |
Financial ratios
Data as of 12 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 9.8% | 7.8% | 7.2% | 10.2% | 11.7% | 10.7% |
| Operating margin | 1.8% | 1.6% | -1.1% | 2.3% | 3.9% | 2.8% |
| Net margin | 0.7% | 1.6% | -1.9% | 3.2% | 1.8% | 2.7% |
| Return on equity | 2.1% | 4.4% | -4.5% | 6.9% | 4.7% | 5.2% |
| Return on assets | 0.7% | 1.5% | -1.6% | 2.5% | 1.7% | 2.0% |
| Free cash flow yield | 2.4% | 0.4% | 4.1% | 10.2% | 0.8% | 1.4% |
| Revenue growth | 20.0% | 23.7% | 3.4% | -4.7% | 45.1% | -36.9% |
| Earnings growth | -50.5% | -201.8% | -162.7% | 66.0% | -3.8% | -105.4% |
| Current ratio | 0.99x | 1.02x | 0.97x | 1.05x | 1.13x | 1.11x |
| Debt to equity | 0.08x | 0.58x | 0.50x | 0.41x | 0.43x | 0.32x |
| Equity ratio | 32.7% | 34.0% | 35.6% | 36.5% | 37.4% | 37.6% |
| Interest coverage | 2.02x | 1.29x | -0.79x | 2.56x | 6.45x | 3.32x |
| R&D as a share of sales | 3.5% | 4.1% | 4.4% | 4.3% | 4.1% | 3.8% |
| Buybacks as a share of market value | 0.0% | 0.0% | -0.8% | 17.1% | 0.0% | -34.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 15.4% | 16.2% | -1.9% |
| Operating income | 1.2% | 2.8% | 1.2% |
| Net income | -31.9% | -12.8% | -0.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 8.9% | 8.8% | 9.5% | 7.4% |
| Operating margin | 1.7% | 1.0% | 1.5% | -1.9% |
| Net margin | 1.1% | 0.9% | 1.2% | -3.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 225.7 | 99.1 | -65.2 | 47.3 | 121.4 | 64.9 | -2.2 | -2.5 | 38.8 | 51.2 |
| Price to sales | 1.5 | 1.6 | 1.3 | 1.5 | 2.2 | 1.8 | 0.7 | 0.6 | 1.1 | 1.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 25 Jul 2018.
| FY2018 | FY2016 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.002 | 0.02 | 0.012 | 0.02 | 0.02 | 0.02 | 0.01 | 0.02 |
- 5-for-2 split · 10 Oct 2014
- 2-for-1 split · 8 May 2008
- 3-for-2 split · 9 Apr 2007
- 1-to-1 reverse split · 21 Jun 2006
- 13-for-10 split · 24 May 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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