A 
4.15
-0.24%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥83.20bn
FY2016FY2025
Net income
CN¥1.53bn
FY2016FY2025
Free cash flow
−CN¥11.80bn
FY2016FY2025
Shareholders' equity
CN¥19.10bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥83.20bn | CN¥96.50bn | CN¥91.24bn | CN¥80.12bn | CN¥71.34bn | CN¥56.97bn | CN¥47.27bn | CN¥38.83bn | CN¥35.46bn | CN¥34.36bn |
| Gross profit | CN¥12.32bn | CN¥11.82bn | CN¥11.19bn | CN¥9.32bn | CN¥7.99bn | CN¥6.38bn | CN¥5.16bn | CN¥4.03bn | CN¥3.58bn | CN¥2.87bn |
| Research and development | CN¥1.95bn | CN¥2.14bn | CN¥1.84bn | CN¥1.47bn | CN¥1.20bn | CN¥704.1m | CN¥426.2m | CN¥210.6m | CN¥185.0m | CN¥25.0m |
| Operating income | CN¥7.25bn | CN¥4.67bn | CN¥4.94bn | CN¥4.30bn | CN¥1.80bn | CN¥3.17bn | CN¥2.36bn | CN¥1.69bn | CN¥1.66bn | CN¥1.07bn |
| Net income | CN¥1.53bn | CN¥1.34bn | CN¥1.55bn | CN¥1.38bn | CN¥1.10bn | CN¥815.8m | CN¥596.2m | CN¥799.9m | CN¥781.3m | CN¥623.8m |
| Diluted earnings per share | 0.89 | 0.78 | 0.91 | 0.80 | 0.63 | 0.52 | 0.34 | 0.45 | 0.54 | 0.56 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥228.37bn | CN¥201.98bn | CN¥171.08bn | CN¥149.06bn | CN¥126.88bn | CN¥105.81bn | CN¥90.44bn | CN¥75.55bn | CN¥63.51bn | CN¥17.30bn |
| Cash and short-term investments | — | CN¥18.53bn | CN¥16.03bn | CN¥14.86bn | CN¥12.50bn | CN¥12.00bn | CN¥9.51bn | CN¥8.53bn | CN¥8.68bn | CN¥2.50bn |
| Total liabilities | CN¥197.52bn | CN¥174.74bn | CN¥147.05bn | CN¥126.08bn | CN¥107.23bn | CN¥88.47bn | CN¥76.11bn | CN¥63.69bn | CN¥54.67bn | CN¥13.06bn |
| Debt | CN¥57.01bn | CN¥60.50bn | CN¥50.63bn | CN¥52.46bn | CN¥44.37bn | CN¥34.87bn | CN¥28.42bn | CN¥21.38bn | CN¥19.99bn | CN¥3.94bn |
| Shareholders' equity | CN¥19.10bn | CN¥15.45bn | CN¥9.97bn | CN¥13.06bn | CN¥11.19bn | CN¥10.17bn | CN¥8.51bn | CN¥9.06bn | CN¥7.75bn | CN¥3.68bn |
| Shares outstanding | 1,717m | 1,717m | 1,717m | 1,717m | 1,734m | 1,562m | 1,775m | 1,796m | 1,444m | 1,118m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.29bn | CN¥1.21bn | CN¥3.67bn | −CN¥782.8m | −CN¥5.49bn | −CN¥4.66bn | −CN¥6.70bn | −CN¥2.06bn | −CN¥9.23bn | CN¥331.9m |
| Capital spending | −CN¥13.09bn | −CN¥9.64bn | −CN¥4.33bn | −CN¥3.27bn | −CN¥1.33bn | −CN¥620.2m | −CN¥259.9m | −CN¥339.7m | −CN¥347.1m | −CN¥612.9m |
| Free cash flow | −CN¥11.80bn | −CN¥8.43bn | −CN¥655.8m | −CN¥4.05bn | −CN¥6.82bn | −CN¥5.28bn | −CN¥6.96bn | −CN¥2.40bn | −CN¥9.58bn | −CN¥281.0m |
| Dividends paid | −CN¥3.11bn | −CN¥2.72bn | −CN¥429.1m | −CN¥430.3m | −CN¥344.2m | −CN¥258.2m | −CN¥258.2m | −CN¥1.08bn | −CN¥967.6m | −CN¥269.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥14.69bn | CN¥16.00bn | CN¥38.17bn | CN¥14.84bn | CN¥15.64bn | CN¥14.54bn | CN¥42.54bn | CN¥20.50bn |
| Gross profit | CN¥2.51bn | CN¥1.83bn | CN¥6.42bn | CN¥1.65bn | CN¥2.44bn | CN¥1.81bn | CN¥5.23bn | CN¥2.33bn |
| Operating income | CN¥1.28bn | CN¥973.6m | CN¥4.37bn | CN¥575.3m | CN¥1.22bn | CN¥954.3m | CN¥980.7m | CN¥1.08bn |
| Net income | CN¥231.2m | CN¥333.2m | CN¥717.0m | CN¥255.9m | CN¥241.7m | CN¥311.2m | CN¥382.8m | CN¥349.1m |
| Diluted earnings per share | 0.13 | 0.19 | 0.42 | 0.15 | 0.14 | 0.18 | 0.22 | 0.20 |
| Cash from operations | — | — | — | CN¥616.0m | −CN¥157.0m | −CN¥2.62bn | — | −CN¥1.43bn |
| Capital spending | −CN¥7.52bn | −CN¥2.35bn | −CN¥6.16bn | −CN¥1.87bn | −CN¥3.29bn | −CN¥1.77bn | −CN¥5.69bn | −CN¥1.66bn |
| Free cash flow | — | — | — | −CN¥1.25bn | −CN¥3.44bn | −CN¥4.39bn | — | −CN¥3.10bn |
| Total assets | CN¥228.95bn | CN¥226.32bn | CN¥228.37bn | CN¥205.57bn | CN¥203.58bn | CN¥197.05bn | CN¥201.98bn | CN¥179.63bn |
| Cash and short-term investments | — | — | — | CN¥17.42bn | CN¥17.24bn | CN¥15.80bn | CN¥18.53bn | CN¥13.42bn |
| Debt | CN¥65.67bn | CN¥61.50bn | CN¥57.01bn | CN¥29.51bn | CN¥71.88bn | CN¥63.29bn | CN¥60.44bn | CN¥61.54bn |
| Shareholders' equity | CN¥22.49bn | CN¥21.20bn | CN¥19.10bn | CN¥11.15bn | CN¥15.94bn | CN¥16.72bn | CN¥15.45bn | CN¥13.93bn |
Financial ratios
Data as of 8 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 14.8% | 12.2% | 12.3% | 11.6% | 11.2% | 11.2% |
| Operating margin | 6.3% | 4.8% | 5.4% | 5.4% | 4.6% | 5.6% |
| Net margin | 1.8% | 1.4% | 1.7% | 1.7% | 1.5% | 1.4% |
| Return on equity | 8.0% | 8.7% | 15.6% | 10.6% | 9.8% | 8.0% |
| Return on assets | 0.7% | 0.7% | 0.9% | 0.9% | 0.9% | 0.8% |
| Free cash flow yield | 197.5% | 149.2% | 109.9% | 34.2% | -56.6% | -60.9% |
| Revenue growth | -13.8% | 5.8% | 13.9% | 12.3% | 25.2% | 20.5% |
| Earnings growth | 13.5% | -13.4% | 12.6% | 25.9% | 34.3% | 36.8% |
| Current ratio | 0.98x | 1.01x | 1.07x | 1.11x | 1.11x | 1.13x |
| Debt to equity | 2.98x | 3.91x | 5.07x | 4.01x | 3.58x | 3.02x |
| Equity ratio | 8.4% | 7.6% | 5.8% | 8.8% | 8.8% | 9.6% |
| Interest coverage | 2.43x | 1.82x | 9.56x | 1.65x | 1.50x | 1.51x |
| R&D as a share of sales | 2.3% | 2.2% | 2.0% | 1.8% | 1.7% | 1.2% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 1.0% | -11.0% | 12.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.3% | 7.9% | 24.7% |
| Operating income | 19.0% | 18.0% | 35.6% |
| Net income | 3.4% | 13.3% | 19.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 13.4% | 12.7% | 12.3% | 11.7% |
| Operating margin | 6.6% | 6.0% | 5.4% | 5.2% |
| Net margin | 1.6% | 1.7% | 1.6% | 1.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 5.3 | 6.1 | 5.1 | 6.0 | 6.6 | 7.2 | 12.1 | 8.0 | 10.6 | 14.9 |
| Price to sales | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 17 years. Last went ex-dividend on 9 Feb 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.27 | 0.26 | 0.25 | 0.25 | 0.20 | 0.15 | 0.15 |
- 6-for-5 split · 21 Jun 2018
- 13-for-10 split · 7 May 2008
- 11-for-10 split · 3 Jul 2007
- 1-to-1 reverse split · 5 Jun 2006
- 13-for-10 split · 16 Apr 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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