Z 
17.32
-1.65%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥8.59bn
FY2016FY2025
Net income
CN¥266.4m
FY2016FY2025
Free cash flow
−CN¥736.0m
FY2016FY2025
Shareholders' equity
CN¥9.44bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥8.59bn | CN¥9.55bn | CN¥8.31bn | CN¥8.27bn | CN¥6.64bn | CN¥6.49bn | CN¥5.39bn | CN¥5.09bn | CN¥5.00bn | CN¥4.09bn |
| Gross profit | CN¥5.17bn | CN¥5.81bn | CN¥4.93bn | CN¥5.09bn | CN¥3.97bn | CN¥4.10bn | CN¥3.19bn | CN¥2.95bn | CN¥2.80bn | CN¥2.04bn |
| Research and development | CN¥1.23bn | CN¥986.7m | CN¥983.0m | CN¥925.5m | CN¥942.3m | CN¥565.7m | CN¥467.4m | CN¥396.8m | CN¥353.4m | CN¥364.0m |
| Operating income | CN¥833.5m | CN¥1.47bn | CN¥1.12bn | CN¥1.55bn | CN¥868.4m | CN¥1.29bn | CN¥824.4m | CN¥475.2m | CN¥791.2m | CN¥499.4m |
| Net income | CN¥266.4m | CN¥1.12bn | CN¥830.5m | CN¥1.17bn | CN¥487.5m | CN¥929.8m | CN¥569.6m | CN¥107.5m | CN¥639.2m | CN¥500.8m |
| Diluted earnings per share | 0.18 | 0.78 | 0.56 | 0.78 | 0.34 | 0.64 | 0.41 | 0.08 | 0.46 | 0.39 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥21.50bn | CN¥20.26bn | CN¥18.60bn | CN¥18.15bn | CN¥15.47bn | CN¥12.99bn | CN¥10.73bn | CN¥10.37bn | CN¥8.27bn | CN¥6.73bn |
| Cash and short-term investments | — | CN¥1.60bn | CN¥1.44bn | CN¥1.51bn | CN¥1.88bn | CN¥2.21bn | CN¥1.50bn | CN¥910.8m | CN¥691.3m | CN¥791.6m |
| Total liabilities | CN¥12.05bn | CN¥11.24bn | CN¥10.35bn | CN¥10.41bn | CN¥8.69bn | CN¥6.27bn | CN¥4.95bn | CN¥6.16bn | CN¥3.21bn | CN¥2.15bn |
| Debt | CN¥1.84bn | CN¥6.52bn | CN¥5.65bn | CN¥6.86bn | CN¥5.63bn | CN¥4.05bn | CN¥3.31bn | CN¥3.55bn | CN¥1.81bn | CN¥1.02bn |
| Shareholders' equity | CN¥9.44bn | CN¥8.90bn | CN¥8.08bn | CN¥7.55bn | CN¥6.56bn | CN¥6.51bn | CN¥5.61bn | CN¥4.07bn | CN¥4.88bn | CN¥4.38bn |
| Shares outstanding | 1,497m | 1,435m | 1,483m | 1,493m | 1,421m | 1,457m | 1,391m | 1,432m | 1,392m | 1,284m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.23bn | CN¥2.17bn | CN¥2.22bn | CN¥1.24bn | CN¥938.4m | CN¥1.56bn | CN¥1.75bn | CN¥67.9m | CN¥546.2m | CN¥433.1m |
| Capital spending | −CN¥1.97bn | −CN¥1.85bn | −CN¥1.59bn | −CN¥2.32bn | −CN¥2.43bn | −CN¥1.28bn | −CN¥794.3m | −CN¥1.12bn | −CN¥794.5m | −CN¥732.9m |
| Free cash flow | −CN¥736.0m | CN¥319.3m | CN¥624.6m | −CN¥1.07bn | −CN¥1.50bn | CN¥279.0m | CN¥959.6m | −CN¥1.06bn | −CN¥248.3m | −CN¥299.8m |
| Dividends paid | −CN¥546.2m | −CN¥475.4m | −CN¥556.0m | −CN¥147.3m | −CN¥290.9m | −CN¥392.8m | −CN¥208.9m | −CN¥308.0m | −CN¥241.6m | −CN¥194.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.58bn | CN¥2.34bn | CN¥2.18bn | CN¥1.89bn | CN¥2.15bn | CN¥2.37bn | CN¥2.30bn | CN¥2.12bn |
| Gross profit | CN¥1.52bn | CN¥1.35bn | CN¥1.21bn | CN¥1.09bn | CN¥1.27bn | CN¥1.53bn | CN¥1.27bn | CN¥1.39bn |
| Operating income | CN¥519.5m | CN¥321.3m | CN¥118.1m | −CN¥7.3m | CN¥151.5m | CN¥376.8m | CN¥153.8m | CN¥359.5m |
| Net income | CN¥366.7m | CN¥404.2m | −CN¥114.0m | −CN¥29.1m | CN¥112.1m | CN¥297.4m | CN¥87.7m | CN¥282.7m |
| Diluted earnings per share | 0.24 | 0.27 | -0.08 | -0.02 | 0.07 | 0.20 | 0.06 | 0.20 |
| Cash from operations | — | — | — | CN¥282.0m | CN¥174.0m | CN¥195.0m | — | CN¥579.0m |
| Capital spending | −CN¥276.0m | −CN¥446.0m | −CN¥781.0m | −CN¥414.0m | −CN¥384.0m | −CN¥385.0m | −CN¥719.0m | −CN¥345.0m |
| Free cash flow | — | — | — | −CN¥132.0m | −CN¥210.0m | −CN¥190.0m | — | CN¥234.0m |
| Total assets | CN¥21.95bn | CN¥22.22bn | CN¥21.50bn | CN¥21.15bn | CN¥21.27bn | CN¥21.50bn | CN¥20.26bn | CN¥19.56bn |
| Cash and short-term investments | — | — | — | CN¥1.51bn | CN¥1.71bn | CN¥2.35bn | CN¥1.60bn | CN¥1.52bn |
| Debt | CN¥2.37bn | CN¥2.24bn | CN¥1.84bn | CN¥4.30bn | CN¥6.49bn | CN¥6.90bn | CN¥6.50bn | CN¥6.91bn |
| Shareholders' equity | CN¥9.78bn | CN¥9.85bn | CN¥9.44bn | CN¥9.51bn | CN¥9.91bn | CN¥9.78bn | CN¥8.90bn | CN¥8.79bn |
Financial ratios
Data as of 25 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 60.2% | 60.8% | 59.4% | 61.5% | 59.8% | 63.2% |
| Operating margin | 9.7% | 15.4% | 13.5% | 18.7% | 13.1% | 19.8% |
| Net margin | 3.1% | 11.7% | 10.0% | 14.1% | 7.3% | 14.3% |
| Return on equity | 2.8% | 12.6% | 10.3% | 15.5% | 7.4% | 14.3% |
| Return on assets | 1.2% | 5.5% | 4.5% | 6.4% | 3.2% | 7.2% |
| Free cash flow yield | 13.4% | 17.7% | 16.2% | 15.0% | 14.9% | 12.2% |
| Revenue growth | -10.1% | 14.9% | 0.5% | 24.4% | 2.4% | 20.4% |
| Earnings growth | -76.2% | 34.7% | -28.9% | 139.5% | -47.6% | 63.2% |
| Current ratio | 0.96x | 1.42x | 1.40x | 1.65x | 1.61x | 2.26x |
| Debt to equity | 0.19x | 0.73x | 0.69x | 0.80x | 0.73x | 0.60x |
| Equity ratio | 43.9% | 43.9% | 43.4% | 41.6% | 42.4% | 50.1% |
| Interest coverage | 3.57x | 6.51x | 4.73x | 6.91x | 5.09x | 9.25x |
| R&D as a share of sales | 14.3% | 10.3% | 11.8% | 11.2% | 14.2% | 8.7% |
| Buybacks as a share of market value | -4.4% | 3.2% | 0.7% | -5.0% | 2.4% | -4.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.3% | 5.8% | 9.4% |
| Operating income | -18.6% | -8.3% | 5.4% |
| Net income | -38.9% | -22.1% | -4.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 60.5% | 60.5% | 60.8% | 58.9% |
| Operating margin | 12.7% | 14.3% | 14.9% | 14.4% |
| Net margin | 7.6% | 9.7% | 10.0% | 10.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 95.4 | 22.9 | 26.2 | 27.9 | 63.1 | 53.0 | 38.3 | 133.9 | 29.3 | 25.3 |
| Price to sales | 3.0 | 2.7 | 2.6 | 4.0 | 4.6 | 7.6 | 4.0 | 2.8 | 3.8 | 3.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 6 years. Last went ex-dividend on 18 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.25 | 0.20 | 0.24 | 0.10 | 0.20 | 0.182 | 0.152 |
- 11-for-10 split · 8 Jun 2020
- 6-for-5 split · 25 May 2018
- 13-for-10 split · 6 Jun 2016
- 13-for-10 split · 17 Apr 2013
- 6-for-5 split · 10 May 2011
- 3-for-2 split · 4 May 2010
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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