A 
11.57
+0.26%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥23.99bn
FY2016FY2025
Net income
CN¥1.07bn
FY2016FY2025
Free cash flow
−CN¥1.81bn
FY2016FY2025
Shareholders' equity
CN¥37.96bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥23.99bn | CN¥23.88bn | CN¥29.01bn | CN¥27.72bn | CN¥9.84bn | CN¥8.75bn | CN¥8.35bn | CN¥7.64bn | CN¥7.02bn | CN¥6.96bn |
| Gross profit | CN¥6.38bn | CN¥6.57bn | CN¥8.43bn | CN¥7.80bn | CN¥2.77bn | CN¥2.51bn | CN¥2.43bn | CN¥2.20bn | CN¥2.23bn | CN¥2.23bn |
| Research and development | CN¥2.75bn | CN¥2.74bn | CN¥3.49bn | CN¥2.75bn | CN¥827.1m | CN¥647.4m | CN¥580.1m | CN¥446.7m | CN¥389.7m | CN¥609.4m |
| Operating income | CN¥1.51bn | CN¥1.19bn | CN¥2.32bn | CN¥1.93bn | CN¥881.7m | CN¥731.4m | CN¥912.4m | CN¥781.1m | CN¥842.3m | CN¥741.9m |
| Net income | CN¥1.07bn | CN¥1.04bn | CN¥1.89bn | CN¥1.35bn | CN¥798.7m | CN¥630.8m | CN¥556.0m | CN¥479.3m | CN¥542.4m | CN¥460.4m |
| Diluted earnings per share | 0.22 | 0.22 | 0.39 | 0.70 | 0.41 | 0.27 | 0.32 | 0.29 | 0.36 | 0.29 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥83.26bn | CN¥78.12bn | CN¥73.52bn | CN¥28.40bn | CN¥26.26bn | CN¥24.72bn | CN¥22.70bn | CN¥21.65bn | CN¥21.19bn | CN¥17.53bn |
| Cash and short-term investments | CN¥12.91bn | CN¥13.04bn | CN¥13.71bn | CN¥3.19bn | CN¥3.94bn | CN¥3.95bn | CN¥3.35bn | CN¥2.54bn | CN¥4.27bn | CN¥2.29bn |
| Total liabilities | CN¥44.42bn | CN¥38.91bn | CN¥35.83bn | CN¥15.78bn | CN¥14.61bn | CN¥13.69bn | CN¥14.47bn | CN¥13.74bn | CN¥13.75bn | CN¥11.26bn |
| Debt | — | CN¥13.40bn | CN¥10.21bn | CN¥9.60bn | CN¥7.62bn | CN¥8.14bn | CN¥8.53bn | CN¥8.26bn | CN¥8.15bn | CN¥5.91bn |
| Shareholders' equity | CN¥37.96bn | CN¥37.45bn | CN¥36.08bn | CN¥12.19bn | CN¥11.24bn | CN¥10.63bn | CN¥7.84bn | CN¥7.56bn | CN¥7.10bn | CN¥6.00bn |
| Shares outstanding | 4,823m | 4,839m | 4,839m | 1,918m | 1,928m | 2,319m | 1,760m | 1,653m | 1,499m | 1,568m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥291.1m | −CN¥1.99bn | −CN¥1.02bn | −CN¥793.7m | CN¥1.55bn | CN¥809.6m | CN¥735.6m | CN¥34.9m | −CN¥101.1m | −CN¥104.6m |
| Capital spending | −CN¥2.11bn | −CN¥2.00bn | −CN¥1.44bn | −CN¥507.2m | −CN¥820.4m | −CN¥880.7m | −CN¥783.2m | −CN¥850.0m | −CN¥665.9m | −CN¥628.9m |
| Free cash flow | −CN¥1.81bn | −CN¥3.99bn | −CN¥2.45bn | −CN¥1.30bn | CN¥729.4m | −CN¥71.1m | −CN¥47.6m | −CN¥815.1m | −CN¥767.1m | −CN¥733.5m |
| Dividends paid | −CN¥446.2m | −CN¥874.8m | −CN¥856.7m | −CN¥496.1m | −CN¥191.8m | −CN¥105.7m | −CN¥87.7m | −CN¥346.0m | −CN¥311.6m | −CN¥325.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥6.33bn | CN¥4.64bn | CN¥7.34bn | CN¥5.53bn | CN¥6.46bn | CN¥4.72bn | CN¥7.31bn | CN¥5.09bn |
| Gross profit | CN¥1.64bn | CN¥1.21bn | CN¥2.07bn | CN¥1.68bn | CN¥1.79bn | CN¥1.16bn | CN¥2.23bn | CN¥1.43bn |
| Operating income | CN¥637.6m | CN¥358.8m | CN¥62.0m | CN¥468.7m | CN¥617.6m | CN¥186.3m | −CN¥143.5m | CN¥485.6m |
| Net income | CN¥426.8m | CN¥180.1m | CN¥77.7m | CN¥347.8m | CN¥450.8m | CN¥100.9m | −CN¥162.1m | CN¥299.7m |
| Diluted earnings per share | 0.09 | 0.04 | 0.02 | 0.07 | 0.09 | 0.02 | -0.03 | 0.06 |
| Cash from operations | — | — | CN¥1.60bn | −CN¥1.32bn | −CN¥427.0m | CN¥370.0m | CN¥1.69bn | −CN¥2.52bn |
| Capital spending | −CN¥496.0m | −CN¥415.0m | −CN¥968.0m | −CN¥378.0m | −CN¥464.0m | −CN¥294.0m | −CN¥935.0m | −CN¥288.0m |
| Free cash flow | — | — | CN¥629.0m | −CN¥1.69bn | −CN¥891.0m | CN¥76.0m | CN¥752.0m | −CN¥2.81bn |
| Total assets | CN¥81.10bn | CN¥80.58bn | CN¥83.26bn | CN¥81.30bn | CN¥79.20bn | CN¥77.84bn | CN¥78.12bn | CN¥74.60bn |
| Cash and short-term investments | — | — | CN¥12.91bn | CN¥10.70bn | CN¥11.57bn | CN¥12.18bn | CN¥13.04bn | CN¥10.91bn |
| Debt | CN¥2.99bn | CN¥2.84bn | CN¥19.19bn | CN¥15.28bn | CN¥10.06bn | CN¥9.57bn | CN¥10.08bn | CN¥9.54bn |
| Shareholders' equity | CN¥38.15bn | CN¥37.93bn | CN¥37.96bn | CN¥38.32bn | CN¥37.96bn | CN¥37.41bn | CN¥37.45bn | CN¥37.04bn |
Financial ratios
Data as of 12 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 26.6% | 27.5% | 29.1% | 28.1% | 28.2% | 28.7% |
| Operating margin | 6.3% | 5.0% | 8.0% | 7.0% | 9.0% | 8.4% |
| Net margin | 4.4% | 4.4% | 6.5% | 4.9% | 8.1% | 7.2% |
| Return on equity | 2.8% | 2.8% | 5.2% | 11.1% | 7.1% | 5.9% |
| Return on assets | 1.3% | 1.3% | 2.6% | 4.8% | 3.0% | 2.6% |
| Free cash flow yield | 4.2% | 0.0% | 0.7% | -1.3% | 10.3% | 6.1% |
| Revenue growth | 0.5% | -17.7% | 4.6% | 181.8% | 12.5% | 4.7% |
| Earnings growth | 2.6% | -44.8% | 39.6% | 69.2% | 26.6% | 13.4% |
| Current ratio | 1.60x | 1.69x | 1.86x | 1.52x | 1.61x | 1.66x |
| Debt to equity | 0.51x | 0.27x | 0.22x | 0.41x | 0.21x | 0.35x |
| Equity ratio | 45.6% | 47.9% | 49.1% | 42.9% | 42.8% | 43.0% |
| Interest coverage | 5.31x | 4.36x | 8.17x | 7.19x | 6.67x | 2.64x |
| R&D as a share of sales | 11.5% | 11.5% | 12.0% | 9.9% | 8.4% | 7.4% |
| Buybacks as a share of market value | 0.3% | 0.0% | -152.3% | 0.5% | 16.9% | -31.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.7% | 22.4% | 13.4% |
| Operating income | -7.9% | 15.6% | 9.2% |
| Net income | -7.6% | 11.1% | 8.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 27.1% | 27.9% | 28.0% | 28.6% |
| Operating margin | 5.6% | 6.6% | 6.9% | 7.8% |
| Net margin | 4.4% | 5.1% | 5.5% | 5.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 60.6 | 57.3 | 33.8 | 22.7 | 54.0 | 72.2 | 45.1 | 44.8 | 37.8 | 63.2 |
| Price to sales | 2.7 | 2.5 | 2.2 | 1.1 | 4.4 | 5.2 | 3.0 | 2.8 | 2.9 | 4.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 13 years. Last went ex-dividend on 4 Dec 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.092 | 0.126 | 0.118 | 0.125 | 0.10 | 0.06 | 0.05 | 0.06 |
- 13-for-10 split · 13 Aug 2013
- 8-for-5 split · 19 Apr 2012
- 1-to-1 reverse split · 9 Aug 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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