A 
4.74
-1.25%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥6.25bn
FY2015FY2024
Net income
CN¥25.2m
FY2015FY2024
Free cash flow
−CN¥51.2m
FY2015FY2024
Shareholders' equity
CN¥1.83bn
FY2015FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥6.25bn | CN¥6.93bn | CN¥7.55bn | CN¥5.98bn | CN¥4.82bn | CN¥4.35bn | CN¥4.17bn | CN¥3.96bn | CN¥4.46bn | CN¥5.58bn |
| Gross profit | CN¥554.2m | CN¥536.8m | CN¥808.3m | CN¥863.1m | CN¥636.1m | CN¥311.3m | CN¥493.7m | CN¥594.0m | CN¥265.7m | CN¥627.4m |
| Research and development | CN¥206.8m | CN¥201.2m | CN¥207.1m | CN¥162.3m | CN¥130.9m | CN¥117.0m | CN¥113.0m | CN¥9.9m | CN¥111.7m | CN¥127.6m |
| Operating income | CN¥57.4m | CN¥60.6m | CN¥239.4m | CN¥343.9m | CN¥201.4m | −CN¥260.2m | −CN¥397.1m | CN¥29.1m | −CN¥226.3m | CN¥56.8m |
| Net income | CN¥25.2m | CN¥22.8m | CN¥191.2m | CN¥237.3m | CN¥168.0m | −CN¥262.0m | −CN¥604.0m | CN¥75.6m | −CN¥124.6m | CN¥148.8m |
| Diluted earnings per share | 0.07 | 0.04 | 0.37 | 0.44 | 0.33 | -1.86 | -1.43 | -2.35 | -0.24 | 0.30 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥7.03bn | CN¥5.91bn | CN¥7.00bn | CN¥5.37bn | CN¥4.52bn | CN¥4.63bn | CN¥5.77bn | CN¥5.51bn | CN¥5.84bn | CN¥6.18bn |
| Cash and short-term investments | CN¥1.33bn | CN¥1.02bn | CN¥2.15bn | CN¥681.6m | CN¥550.0m | CN¥430.4m | CN¥664.1m | CN¥417.1m | CN¥646.5m | CN¥589.0m |
| Total liabilities | CN¥4.87bn | CN¥3.96bn | CN¥5.08bn | CN¥3.71bn | CN¥3.18bn | CN¥3.50bn | CN¥4.38bn | CN¥3.56bn | CN¥3.92bn | CN¥4.02bn |
| Debt | CN¥1.92bn | CN¥1.52bn | CN¥2.91bn | CN¥1.50bn | CN¥1.49bn | CN¥1.61bn | CN¥1.98bn | CN¥1.59bn | CN¥1.72bn | CN¥1.99bn |
| Shareholders' equity | CN¥1.83bn | CN¥1.81bn | CN¥1.80bn | CN¥1.61bn | CN¥1.37bn | CN¥1.18bn | CN¥1.44bn | CN¥2.07bn | CN¥2.00bn | CN¥2.16bn |
| Shares outstanding | 370m | 563m | 513m | 543m | 508m | 141m | 423m | — | 511m | 488m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥388.6m | CN¥446.5m | CN¥426.5m | CN¥476.1m | CN¥143.1m | CN¥315.1m | CN¥63.5m | CN¥162.6m | CN¥565.5m | CN¥165.7m |
| Capital spending | −CN¥439.8m | −CN¥532.9m | −CN¥296.1m | −CN¥162.2m | −CN¥76.3m | −CN¥92.5m | −CN¥368.8m | −CN¥276.2m | −CN¥147.4m | −CN¥130.5m |
| Free cash flow | −CN¥51.2m | −CN¥86.3m | CN¥130.4m | CN¥313.9m | CN¥66.8m | CN¥222.6m | −CN¥305.3m | −CN¥113.6m | CN¥418.1m | CN¥35.2m |
| Dividends paid | −CN¥64.7m | −CN¥66.3m | −CN¥50.5m | −CN¥54.2m | −CN¥75.1m | −CN¥104.3m | −CN¥138.8m | −CN¥96.0m | −CN¥158.4m | −CN¥138.9m |
Latest quarters
By quarter end
| Sept 2026 | Jun 2026 | Mar 2026 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.39bn | CN¥1.45bn | CN¥1.50bn | CN¥1.85bn | CN¥1.55bn | CN¥1.60bn | CN¥1.43bn | CN¥1.76bn |
| Gross profit | CN¥101.7m | CN¥99.0m | CN¥50.0m | CN¥175.9m | CN¥44.7m | CN¥67.4m | CN¥76.5m | CN¥174.7m |
| Operating income | −CN¥33.1m | −CN¥34.6m | −CN¥69.7m | −CN¥17.1m | −CN¥76.1m | −CN¥55.0m | −CN¥18.4m | CN¥22.8m |
| Net income | −CN¥101.6m | −CN¥80.3m | −CN¥90.4m | −CN¥58.1m | −CN¥82.5m | −CN¥66.7m | −CN¥13.2m | CN¥9.0m |
| Diluted earnings per share | -0.19 | -0.15 | -0.17 | -0.11 | -0.16 | -0.13 | -0.04 | 0.02 |
| Cash from operations | — | — | — | CN¥456.0m | −CN¥336.0m | −CN¥61.0m | — | CN¥351.0m |
| Capital spending | −CN¥479.0m | −CN¥417.0m | −CN¥470.0m | −CN¥350.0m | −CN¥325.0m | −CN¥138.0m | −CN¥240.0m | −CN¥80.0m |
| Free cash flow | — | — | — | CN¥106.0m | −CN¥661.0m | −CN¥199.0m | — | CN¥271.0m |
| Total assets | CN¥9.82bn | CN¥9.14bn | CN¥8.53bn | CN¥7.37bn | CN¥6.89bn | CN¥6.43bn | CN¥7.03bn | CN¥6.74bn |
| Cash and short-term investments | — | — | — | CN¥1.25bn | CN¥974.9m | CN¥975.1m | CN¥1.33bn | CN¥1.43bn |
| Debt | CN¥2.83bn | CN¥2.06bn | CN¥1.62bn | CN¥2.72bn | CN¥2.29bn | CN¥1.84bn | CN¥1.90bn | CN¥1.91bn |
| Shareholders' equity | CN¥1.35bn | CN¥1.45bn | CN¥1.52bn | CN¥1.63bn | CN¥1.69bn | CN¥1.77bn | CN¥1.83bn | CN¥1.85bn |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | — | 8.9% | 7.7% | 10.7% | 14.4% | 13.2% | 7.2% |
| Operating margin | — | 2.1% | 1.9% | 4.6% | 6.1% | 5.6% | -3.5% |
| Net margin | — | 0.4% | 0.3% | 2.5% | 4.0% | 3.5% | -6.0% |
| Return on equity | — | 1.4% | 1.3% | 10.6% | 14.7% | 12.2% | -22.3% |
| Return on assets | — | 0.4% | 0.4% | 2.7% | 4.4% | 3.7% | -5.7% |
| Free cash flow yield | — | 44.2% | 34.3% | 27.8% | 23.2% | 8.5% | 57.0% |
| Revenue growth | — | -9.8% | -8.2% | 26.2% | 24.1% | 10.8% | 4.5% |
| Earnings growth | — | 10.7% | -88.1% | -19.4% | 41.3% | -164.1% | -56.6% |
| Current ratio | — | 0.87x | 0.83x | 0.92x | 0.75x | 0.59x | 0.51x |
| Debt to equity | — | 1.04x | 0.83x | 1.30x | 0.88x | 1.11x | 1.55x |
| Equity ratio | — | 26.1% | 30.6% | 25.8% | 30.0% | 30.4% | 25.4% |
| Interest coverage | — | 1.98x | 1.97x | 5.06x | 6.16x | 3.37x | -1.30x |
| R&D as a share of sales | — | 3.3% | 2.9% | 2.7% | 2.7% | 2.7% | 2.7% |
| Buybacks as a share of market value | -42.2% | 34.3% | -9.8% | 5.5% | -6.8% | -259.8% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.5% | 7.5% | 1.7% |
| Operating income | -44.9% | — | — |
| Net income | -52.7% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 8.3% | 10.3% | 10.3% | 10.0% |
| Operating margin | 0.9% | 2.6% | 1.8% | -0.5% |
| Net margin | 0.4% | 1.8% | 1.1% | -0.6% |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 80.2 | 144.4 | 16.5 | 16.2 | 12.6 | -2.3 | -2.6 | -2.4 | -34.9 | 37.3 |
| Price to sales | 0.3 | 0.5 | 0.4 | 0.6 | 0.4 | 0.1 | 0.4 | -0.1 | 1.0 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 22 Jun 2018.
| FY2018 | FY2016 | FY2014 | FY2013 | FY2012 | FY2011 | FY2009 | FY2007 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.08 | 0.10 | 0.10 | 0.10 | 0.094 | 0.075 | 0.069 |
- 8-for-5 split · 16 Jun 2011
- 1-to-1 reverse split · 18 Apr 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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