C 
4.00
-0.99%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥7.90bn
FY2016FY2025
Net income
−CN¥1.14bn
FY2016FY2025
Free cash flow
CN¥673.7m
FY2016FY2025
Shareholders' equity
CN¥2.80bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥7.90bn | CN¥7.87bn | CN¥8.49bn | CN¥7.61bn | CN¥6.06bn | CN¥6.19bn | CN¥6.42bn | CN¥7.14bn | CN¥5.84bn | CN¥5.51bn |
| Gross profit | CN¥2.40bn | CN¥2.27bn | CN¥2.85bn | CN¥2.66bn | CN¥2.22bn | CN¥2.51bn | CN¥2.50bn | CN¥2.79bn | CN¥2.76bn | CN¥2.44bn |
| Research and development | CN¥906.2m | CN¥869.9m | CN¥822.7m | CN¥798.4m | CN¥773.6m | CN¥545.6m | CN¥555.4m | CN¥614.7m | CN¥464.2m | CN¥333.4m |
| Operating income | CN¥61.9m | −CN¥480.8m | CN¥207.5m | CN¥1.25bn | −CN¥1.02bn | CN¥111.6m | −CN¥853.2m | CN¥269.3m | −CN¥199.5m | CN¥111.9m |
| Net income | −CN¥1.14bn | −CN¥978.1m | CN¥87.6m | CN¥673.7m | −CN¥1.15bn | CN¥130.8m | −CN¥876.5m | CN¥111.7m | −CN¥74.3m | CN¥106.4m |
| Diluted earnings per share | -0.86 | -0.73 | 0.08 | 0.49 | -0.88 | 0.10 | -0.64 | 0.09 | -0.07 | 0.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥13.28bn | CN¥15.56bn | CN¥15.51bn | CN¥13.77bn | CN¥11.67bn | CN¥11.69bn | CN¥11.05bn | CN¥18.06bn | CN¥20.54bn | CN¥15.62bn |
| Cash and short-term investments | — | CN¥1.52bn | CN¥1.83bn | CN¥1.09bn | CN¥1.69bn | CN¥1.25bn | CN¥1.37bn | CN¥1.95bn | CN¥1.47bn | CN¥1.74bn |
| Total liabilities | CN¥10.08bn | CN¥11.05bn | CN¥9.71bn | CN¥8.22bn | CN¥8.05bn | CN¥7.38bn | CN¥6.83bn | CN¥12.49bn | CN¥12.32bn | CN¥8.15bn |
| Debt | CN¥378.6m | CN¥2.93bn | CN¥4.73bn | CN¥3.17bn | CN¥3.97bn | CN¥3.92bn | CN¥4.10bn | CN¥8.17bn | CN¥7.98bn | CN¥4.68bn |
| Shareholders' equity | CN¥2.80bn | CN¥4.09bn | CN¥5.24bn | CN¥5.00bn | CN¥3.31bn | CN¥4.35bn | CN¥4.27bn | CN¥5.34bn | CN¥7.60bn | CN¥7.05bn |
| Shares outstanding | 1,319m | 1,346m | 1,060m | 1,366m | 1,301m | 1,306m | 1,360m | 1,302m | 1,057m | 945m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥806.9m | CN¥455.1m | CN¥942.0m | CN¥578.5m | CN¥228.2m | CN¥206.8m | CN¥437.0m | CN¥680.8m | CN¥140.7m | CN¥445.2m |
| Capital spending | −CN¥133.2m | −CN¥312.5m | −CN¥322.0m | −CN¥238.0m | −CN¥121.5m | −CN¥224.2m | −CN¥294.4m | −CN¥885.6m | −CN¥1.17bn | −CN¥500.6m |
| Free cash flow | CN¥673.7m | CN¥142.6m | CN¥620.0m | CN¥340.5m | CN¥106.7m | −CN¥17.4m | CN¥142.6m | −CN¥204.9m | −CN¥1.03bn | −CN¥55.4m |
| Dividends paid | −CN¥179.7m | −CN¥215.0m | −CN¥159.8m | −CN¥206.5m | −CN¥253.5m | −CN¥257.4m | −CN¥374.2m | −CN¥617.3m | −CN¥365.6m | −CN¥261.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.13bn | CN¥1.69bn | CN¥2.46bn | CN¥1.97bn | CN¥2.07bn | CN¥1.40bn | CN¥2.36bn | CN¥2.01bn |
| Gross profit | CN¥763.3m | CN¥543.2m | CN¥633.2m | CN¥647.9m | CN¥643.6m | CN¥474.1m | CN¥282.1m | CN¥738.3m |
| Operating income | CN¥244.9m | CN¥82.3m | −CN¥56.2m | CN¥33.0m | −CN¥249.9m | −CN¥86.5m | −CN¥450.3m | CN¥8.6m |
| Net income | CN¥25.7m | CN¥11.0m | −CN¥815.2m | CN¥16.0m | −CN¥252.5m | −CN¥91.4m | −CN¥918.8m | −CN¥9.8m |
| Diluted earnings per share | 0.02 | 0.01 | -0.62 | 0.01 | -0.19 | -0.07 | -0.68 | -0.01 |
| Cash from operations | — | — | — | CN¥199.0m | −CN¥171.0m | −CN¥54.0m | — | CN¥198.0m |
| Capital spending | −CN¥29.0m | −CN¥11.0m | −CN¥27.0m | −CN¥31.0m | −CN¥41.0m | −CN¥115.0m | −CN¥110.0m | −CN¥50.0m |
| Free cash flow | — | — | — | CN¥168.0m | −CN¥212.0m | −CN¥169.0m | — | CN¥148.0m |
| Total assets | CN¥13.36bn | CN¥13.28bn | CN¥13.28bn | CN¥14.83bn | CN¥18.07bn | CN¥19.13bn | CN¥15.56bn | CN¥17.33bn |
| Cash and short-term investments | — | — | — | CN¥1.61bn | CN¥4.31bn | CN¥5.39bn | CN¥1.52bn | CN¥3.22bn |
| Debt | CN¥534.4m | CN¥620.3m | CN¥378.6m | CN¥2.44bn | CN¥2.23bn | CN¥3.73bn | CN¥2.82bn | CN¥2.91bn |
| Shareholders' equity | CN¥2.83bn | CN¥2.81bn | CN¥2.80bn | CN¥3.76bn | CN¥3.74bn | CN¥4.01bn | CN¥4.09bn | CN¥5.07bn |
Financial ratios
Data as of 10 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 30.4% | 28.9% | 33.6% | 35.0% | 36.7% | 40.5% |
| Operating margin | -12.0% | -8.8% | 4.8% | 18.2% | -14.1% | 5.8% |
| Net margin | -14.4% | -12.4% | 1.0% | 8.8% | -18.9% | 2.1% |
| Return on equity | -40.8% | -23.9% | 1.7% | 13.5% | -34.6% | 3.0% |
| Return on assets | -8.6% | -6.3% | 0.6% | 4.9% | -9.8% | 1.1% |
| Free cash flow yield | 15.0% | 12.0% | 25.2% | 12.6% | 5.7% | 7.0% |
| Revenue growth | 0.3% | -7.2% | 11.5% | 25.6% | -2.0% | -3.5% |
| Earnings growth | 16.6% | -1216.4% | -87.0% | -158.7% | -976.5% | -114.9% |
| Current ratio | 0.90x | 0.98x | 0.98x | 0.95x | 0.94x | 1.07x |
| Debt to equity | 0.14x | 0.69x | 0.87x | 0.54x | 0.95x | 0.90x |
| Equity ratio | 21.1% | 26.3% | 33.8% | 36.3% | 28.4% | 37.2% |
| Interest coverage | -4.68x | -2.74x | 1.73x | 5.71x | -3.17x | 1.41x |
| R&D as a share of sales | 11.5% | 11.0% | 9.7% | 10.5% | 12.8% | 8.8% |
| Buybacks as a share of market value | 1.9% | -27.0% | 22.4% | -5.0% | 0.3% | 4.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.2% | 5.0% | 6.6% |
| Operating income | -63.3% | -11.1% | -18.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 29.6% | 32.0% | 33.8% | 37.2% |
| Operating margin | -2.7% | 3.3% | 0.3% | -0.1% |
| Net margin | -13.4% | -4.3% | -5.4% | -3.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.1 | -6.7 | 64.7 | 9.5 | -6.8 | 64.3 | -9.2 | 51.1 | -224.6 | 123.9 |
| Price to sales | 0.6 | 0.8 | 0.7 | 0.8 | 1.3 | 1.4 | 1.3 | 0.8 | 2.9 | 2.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 12 Jul 2018.
| FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.09 | 0.08 | 0.113 | 0.104 | 0.092 | 0.067 | 0.067 | 0.042 |
- 6-for-5 split · 20 Jun 2016
- 2-for-1 split · 29 Apr 2010
- 13-for-10 split · 1 Apr 2008
- 11-for-10 split · 17 May 2007
- 1-to-1 reverse split · 23 Dec 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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