P 
5.11
+2.61%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥10.13bn
FY2016FY2025
Net income
CN¥173.9m
FY2016FY2025
Free cash flow
−CN¥680.8m
FY2016FY2025
Shareholders' equity
CN¥7.89bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥10.13bn | CN¥7.95bn | CN¥6.23bn | CN¥5.34bn | CN¥6.22bn | CN¥4.29bn | CN¥5.01bn | CN¥4.68bn | CN¥4.31bn | CN¥2.85bn |
| Gross profit | CN¥947.8m | CN¥876.4m | CN¥782.7m | CN¥658.5m | CN¥1.04bn | CN¥674.1m | CN¥665.1m | CN¥684.8m | CN¥585.9m | CN¥459.4m |
| Research and development | CN¥279.6m | CN¥256.4m | CN¥266.1m | CN¥236.2m | CN¥219.9m | CN¥172.3m | CN¥155.2m | CN¥135.2m | CN¥86.6m | CN¥116.8m |
| Operating income | CN¥142.0m | −CN¥127.9m | CN¥445.4m | −CN¥348.7m | CN¥356.6m | CN¥78.8m | CN¥784.1m | CN¥272.0m | CN¥218.5m | CN¥112.8m |
| Net income | CN¥173.9m | −CN¥114.9m | CN¥394.7m | −CN¥261.8m | CN¥314.3m | CN¥91.8m | CN¥680.4m | CN¥262.1m | CN¥212.5m | CN¥107.9m |
| Diluted earnings per share | 0.08 | -0.05 | 0.22 | -0.15 | 0.17 | 0.06 | 0.42 | 0.16 | 0.13 | 0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥16.68bn | CN¥16.37bn | CN¥14.22bn | CN¥11.16bn | CN¥10.82bn | CN¥10.46bn | CN¥9.81bn | CN¥7.51bn | CN¥6.20bn | CN¥4.92bn |
| Cash and short-term investments | — | CN¥1.95bn | CN¥2.06bn | CN¥1.23bn | CN¥1.53bn | CN¥2.55bn | CN¥1.87bn | CN¥1.88bn | CN¥841.6m | CN¥567.1m |
| Total liabilities | CN¥8.65bn | CN¥8.70bn | CN¥6.42bn | CN¥5.74bn | CN¥5.11bn | CN¥4.96bn | CN¥4.89bn | CN¥3.87bn | CN¥2.95bn | CN¥2.17bn |
| Debt | CN¥50.0m | CN¥239.6m | CN¥347.6m | CN¥623.3m | CN¥353.7m | CN¥290.3m | CN¥576.6m | CN¥780.6m | CN¥1.8m | CN¥628.6m |
| Shareholders' equity | CN¥7.89bn | CN¥7.60bn | CN¥7.79bn | CN¥5.42bn | CN¥5.67bn | CN¥5.45bn | CN¥4.86bn | CN¥3.59bn | CN¥3.21bn | CN¥2.68bn |
| Shares outstanding | 2,131m | 2,135m | 1,760m | 1,749m | 1,836m | 1,639m | 1,636m | 1,602m | 1,602m | 1,577m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥512.1m | CN¥180.4m | CN¥82.9m | −CN¥188.9m | CN¥381.8m | CN¥589.6m | CN¥34.3m | CN¥173.8m | −CN¥206.7m | −CN¥177.8m |
| Capital spending | −CN¥168.8m | −CN¥175.3m | −CN¥197.6m | −CN¥197.3m | −CN¥260.9m | −CN¥334.7m | −CN¥132.3m | −CN¥49.2m | −CN¥50.8m | −CN¥72.6m |
| Free cash flow | −CN¥680.8m | CN¥5.2m | −CN¥114.7m | −CN¥386.2m | CN¥120.9m | CN¥254.9m | −CN¥98.0m | CN¥124.7m | −CN¥257.5m | −CN¥250.4m |
| Dividends paid | −CN¥8.2m | −CN¥42.9m | −CN¥8.6m | −CN¥32.4m | −CN¥27.2m | −CN¥69.4m | −CN¥92.0m | −CN¥54.4m | −CN¥377,598 | −CN¥1.8m |
Latest quarters
By quarter end
| Sept 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.95bn | CN¥3.09bn | CN¥2.26bn | CN¥3.03bn | CN¥2.18bn | CN¥2.67bn | CN¥2.25bn | CN¥3.12bn |
| Gross profit | CN¥229.1m | CN¥203.1m | CN¥169.6m | CN¥260.6m | CN¥281.4m | CN¥247.3m | CN¥165.7m | CN¥264.5m |
| Operating income | CN¥43.3m | CN¥11.7m | CN¥8.9m | CN¥15.7m | −CN¥2.0m | −CN¥3.8m | CN¥129.5m | CN¥100.4m |
| Net income | −CN¥1.1m | CN¥18.4m | CN¥12.3m | −CN¥15.0m | CN¥53.6m | CN¥14.9m | CN¥120.4m | CN¥78.2m |
| Diluted earnings per share | -0.00 | 0.01 | 0.01 | -0.01 | 0.03 | 0.01 | 0.06 | 0.04 |
| Cash from operations | — | — | — | — | CN¥66.0m | −CN¥1.07bn | −CN¥47.0m | — |
| Capital spending | −CN¥39.0m | −CN¥36.0m | −CN¥47.0m | −CN¥42.0m | −CN¥74.0m | −CN¥38.0m | −CN¥12.0m | −CN¥50.0m |
| Free cash flow | — | — | — | — | −CN¥8.0m | −CN¥1.11bn | −CN¥59.0m | — |
| Total assets | CN¥16.62bn | CN¥16.46bn | CN¥16.61bn | CN¥16.68bn | CN¥15.33bn | CN¥16.14bn | CN¥16.65bn | CN¥16.37bn |
| Cash and short-term investments | — | — | — | — | CN¥1.52bn | CN¥1.43bn | CN¥2.33bn | CN¥1.95bn |
| Debt | CN¥50.0m | CN¥50.0m | CN¥50.0m | CN¥50.0m | CN¥3.41bn | CN¥336.1m | CN¥284.7m | CN¥170.5m |
| Shareholders' equity | CN¥7.91bn | CN¥7.90bn | CN¥7.90bn | CN¥7.89bn | CN¥7.86bn | CN¥7.78bn | CN¥7.72bn | CN¥7.60bn |
Financial ratios
Data as of 1 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 9.4% | 11.0% | 12.6% | 12.3% | 16.7% | 15.7% |
| Operating margin | 1.4% | -1.6% | 7.2% | -6.5% | 5.7% | 1.8% |
| Net margin | 1.7% | -1.4% | 6.3% | -4.9% | 5.0% | 2.1% |
| Return on equity | 2.2% | -1.5% | 5.1% | -4.8% | 5.5% | 1.7% |
| Return on assets | 1.0% | -0.7% | 2.8% | -2.3% | 2.9% | 0.9% |
| Free cash flow yield | -3.6% | 3.7% | 3.6% | 0.1% | 7.9% | 12.7% |
| Revenue growth | 27.4% | 27.6% | 16.7% | -14.3% | 45.2% | -14.5% |
| Earnings growth | -251.3% | -129.1% | -250.8% | -183.3% | 242.3% | -86.5% |
| Current ratio | 1.35x | 1.35x | 1.51x | 1.39x | 1.50x | 1.61x |
| Debt to equity | 0.01x | 0.02x | 0.03x | 0.09x | 0.02x | 0.05x |
| Equity ratio | 47.3% | 46.4% | 54.8% | 48.5% | 52.4% | 52.1% |
| Interest coverage | 8.19x | -4.12x | 12.30x | -8.55x | 10.45x | 2.20x |
| R&D as a share of sales | 2.8% | 3.2% | 4.3% | 4.4% | 3.5% | 4.0% |
| Buybacks as a share of market value | 0.2% | -21.3% | -0.6% | 4.7% | -12.0% | -0.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 23.8% | 18.8% | 14.3% |
| Operating income | — | 12.5% | 0.8% |
| Net income | — | 13.6% | 0.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.1% | 11.0% | 12.4% | 13.2% |
| Operating margin | 0.1% | 0.4% | 1.4% | 3.5% |
| Net margin | 0.3% | 0.6% | 1.5% | 3.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 82.1 | -87.0 | 25.5 | -35.3 | 48.6 | 135.5 | 22.6 | 42.1 | 62.2 | 123.6 |
| Price to sales | 1.4 | 1.3 | 1.6 | 1.7 | 2.5 | 2.9 | 3.1 | 2.4 | 3.1 | 4.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 12 Jun 2024.
| FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2004 | FY2003 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.019 | 0.019 | 0.016 | 0.04 | 0.057 | 0.031 | 0.039 | 0.019 |
- 13-for-5 split · 25 Apr 2016
- 1-to-1 reverse split · 9 Jun 2010
- 2-for-1 split · 4 Sept 1996
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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