J 
4.39
+0.23%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.56bn
FY2016FY2025
Net income
CN¥36.9m
FY2016FY2025
Free cash flow
−CN¥610.4m
FY2016FY2025
Shareholders' equity
CN¥4.25bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.56bn | CN¥3.03bn | CN¥3.13bn | CN¥3.07bn | CN¥3.89bn | CN¥3.03bn | CN¥2.64bn | CN¥2.55bn | CN¥1.68bn | CN¥1.55bn |
| Gross profit | CN¥315.1m | CN¥231.2m | CN¥240.8m | CN¥162.0m | CN¥322.1m | CN¥209.6m | CN¥429.9m | CN¥344.0m | CN¥279.9m | CN¥176.7m |
| Research and development | CN¥55.7m | CN¥84.4m | CN¥72.2m | CN¥83.5m | CN¥81.4m | CN¥68.7m | CN¥49.3m | CN¥59.2m | CN¥50.3m | CN¥7.7m |
| Operating income | −CN¥6.1m | −CN¥6.9m | −CN¥35.6m | −CN¥23.9m | −CN¥865.6m | −CN¥1.30bn | CN¥69.9m | CN¥67.6m | −CN¥297.8m | CN¥160.3m |
| Net income | CN¥36.9m | CN¥27.3m | CN¥38.3m | CN¥94.5m | −CN¥768.2m | −CN¥1.27bn | CN¥108.2m | CN¥80.6m | −CN¥274.3m | CN¥110.2m |
| Diluted earnings per share | 0.05 | 0.02 | 0.06 | 0.11 | -0.88 | -1.50 | 0.14 | 0.08 | -0.31 | 0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥10.47bn | CN¥9.55bn | CN¥8.48bn | CN¥8.01bn | CN¥9.17bn | CN¥10.47bn | CN¥10.60bn | CN¥10.69bn | CN¥9.66bn | CN¥9.82bn |
| Cash and short-term investments | — | CN¥1.77bn | CN¥1.77bn | CN¥1.39bn | CN¥1.69bn | CN¥1.73bn | CN¥1.13bn | CN¥973.2m | CN¥615.8m | CN¥672.6m |
| Total liabilities | CN¥5.40bn | CN¥4.48bn | CN¥3.67bn | CN¥3.28bn | CN¥4.50bn | CN¥5.00bn | CN¥3.78bn | CN¥4.02bn | CN¥2.98bn | CN¥2.76bn |
| Debt | CN¥1.99bn | CN¥3.27bn | CN¥2.37bn | CN¥1.94bn | CN¥2.67bn | CN¥2.73bn | CN¥2.25bn | CN¥2.78bn | CN¥2.06bn | CN¥1.98bn |
| Shareholders' equity | CN¥4.25bn | CN¥4.40bn | CN¥4.35bn | CN¥4.30bn | CN¥4.17bn | CN¥4.93bn | CN¥6.21bn | CN¥6.05bn | CN¥6.09bn | CN¥6.56bn |
| Shares outstanding | 765m | 1,120m | 629m | 876m | 872m | 844m | 789m | 1,031m | 876m | 827m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥125.2m | CN¥73.8m | −CN¥204.0m | CN¥11.0m | −CN¥13.8m | −CN¥86.7m | −CN¥67.2m | CN¥192.5m | −CN¥134.0m | −CN¥138.7m |
| Capital spending | −CN¥735.6m | −CN¥1.04bn | −CN¥459.7m | −CN¥68.8m | −CN¥179.7m | −CN¥102.6m | −CN¥122.1m | −CN¥98.3m | −CN¥35.6m | −CN¥28.2m |
| Free cash flow | −CN¥610.4m | −CN¥964.6m | −CN¥663.7m | −CN¥57.8m | −CN¥193.6m | −CN¥189.3m | −CN¥189.3m | CN¥94.2m | −CN¥169.7m | −CN¥166.9m |
| Dividends paid | −CN¥171.4m | −CN¥111.0m | −CN¥90.2m | −CN¥131.1m | −CN¥142.4m | −CN¥138.4m | −CN¥118.1m | −CN¥139.8m | −CN¥190.5m | −CN¥223.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥743.9m | CN¥730.9m | CN¥408.7m | CN¥789.2m | CN¥674.7m | CN¥683.4m | CN¥654.2m | CN¥641.8m |
| Gross profit | CN¥93.4m | CN¥77.2m | CN¥90.8m | CN¥85.8m | CN¥69.5m | CN¥69.0m | CN¥92.1m | CN¥38.8m |
| Operating income | CN¥14.8m | CN¥9.8m | −CN¥15.6m | CN¥74.4m | −CN¥5.4m | CN¥17.4m | −CN¥1.7m | CN¥8.7m |
| Net income | CN¥44.4m | CN¥14.7m | −CN¥38.7m | CN¥61.5m | −CN¥1.8m | CN¥15.8m | CN¥2.1m | CN¥14.2m |
| Diluted earnings per share | 0.06 | 0.02 | -0.05 | 0.08 | -0.00 | 0.02 | 0.00 | 0.01 |
| Cash from operations | — | — | — | CN¥11.0m | CN¥34.0m | −CN¥29.0m | — | CN¥48.0m |
| Capital spending | −CN¥92.0m | −CN¥149.0m | −CN¥177.0m | −CN¥108.0m | −CN¥209.0m | −CN¥239.0m | −CN¥327.0m | −CN¥173.0m |
| Free cash flow | — | — | — | −CN¥97.0m | −CN¥175.0m | −CN¥268.0m | — | −CN¥125.0m |
| Total assets | CN¥10.29bn | CN¥10.52bn | CN¥10.47bn | CN¥10.19bn | CN¥10.00bn | CN¥9.59bn | CN¥9.55bn | CN¥9.13bn |
| Cash and short-term investments | — | — | — | CN¥1.54bn | CN¥1.59bn | CN¥1.58bn | CN¥1.77bn | CN¥1.49bn |
| Debt | CN¥1.97bn | CN¥2.27bn | CN¥1.99bn | CN¥2.06bn | CN¥3.42bn | CN¥3.22bn | CN¥3.15bn | CN¥2.96bn |
| Shareholders' equity | CN¥4.30bn | CN¥4.27bn | CN¥4.25bn | CN¥4.32bn | CN¥4.38bn | CN¥4.38bn | CN¥4.40bn | CN¥4.40bn |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 20.8% | 7.6% | 7.7% | 5.3% | 8.3% | 6.9% |
| Operating margin | 7.2% | 2.8% | 0.7% | 4.4% | -17.0% | -38.2% |
| Net margin | 1.4% | 0.9% | 1.2% | 3.1% | -19.8% | -41.9% |
| Return on equity | 0.9% | 0.6% | 0.9% | 2.2% | -18.4% | -25.7% |
| Return on assets | 0.4% | 0.3% | 0.5% | 1.2% | -8.4% | -12.1% |
| Free cash flow yield | 24.8% | 21.9% | 9.0% | 2.0% | 4.2% | 0.4% |
| Revenue growth | -15.7% | -3.0% | 1.8% | -20.9% | 28.5% | 14.6% |
| Earnings growth | 35.3% | -28.9% | -59.4% | -112.3% | -39.4% | -1272.5% |
| Current ratio | 1.15x | 1.12x | 1.53x | 1.30x | 1.04x | 1.01x |
| Debt to equity | 0.47x | 0.71x | 0.50x | 0.44x | 0.60x | 0.51x |
| Equity ratio | 40.6% | 46.1% | 51.2% | 53.7% | 45.5% | 47.1% |
| Interest coverage | 1.72x | 1.04x | 15.00x | 0.99x | -4.37x | -7.73x |
| R&D as a share of sales | 2.2% | 2.8% | 2.3% | 2.7% | 2.1% | 2.3% |
| Buybacks as a share of market value | 31.7% | -78.1% | 28.2% | -0.3% | -3.3% | -7.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.0% | -3.3% | 3.8% |
| Operating income | -36.5% | -65.8% | — |
| Net income | -26.9% | — | -11.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 9.8% | 8.1% | 7.9% | 10.1% |
| Operating margin | -0.2% | -0.6% | -12.0% | -7.4% |
| Net margin | 1.1% | 1.7% | -9.8% | -5.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 112.5 | 182.0 | 83.6 | 39.4 | -5.0 | -3.0 | 37.0 | 58.9 | -19.5 | 63.8 |
| Price to sales | 1.6 | 1.6 | 1.0 | 1.2 | 1.0 | 1.3 | 1.5 | 1.9 | 3.2 | 4.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 13 Nov 2025.
| FY2025 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.08 | 0.10 | 0.10 | 0.15 | 0.15 | 0.125 | 0.125 | 0.128 |
- 6-for-5 split · 14 Jun 2013
- 13-for-10 split · 20 May 2011
- 1-to-1 reverse split · 23 Oct 2006
- 9-for-5 split · 12 May 1998
- 13-for-10 split · 9 May 1996
- 7-for-5 split · 19 Sept 1994
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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