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5.57
+3.53%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥17.39bn
FY2016FY2025
Net income
−CN¥32.4m
FY2016FY2025
Free cash flow
−CN¥1.52bn
FY2016FY2025
Shareholders' equity
CN¥13.63bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥17.39bn | CN¥21.17bn | CN¥22.84bn | CN¥26.00bn | CN¥23.17bn | CN¥18.18bn | CN¥20.07bn | CN¥20.46bn | CN¥18.56bn | CN¥11.73bn |
| Gross profit | CN¥1.65bn | CN¥2.58bn | CN¥3.17bn | CN¥4.15bn | CN¥4.76bn | CN¥2.99bn | CN¥3.01bn | CN¥3.30bn | CN¥1.99bn | CN¥1.60bn |
| Research and development | CN¥506.4m | CN¥474.1m | CN¥402.5m | CN¥300.0m | CN¥207.4m | CN¥148.7m | CN¥80.5m | CN¥29.0m | CN¥29.3m | CN¥26.3m |
| Operating income | CN¥23.2m | CN¥775.7m | CN¥1.26bn | CN¥2.25bn | CN¥2.87bn | CN¥1.61bn | CN¥1.64bn | CN¥2.07bn | CN¥839.2m | CN¥899.3m |
| Net income | −CN¥32.4m | CN¥815.7m | CN¥1.09bn | CN¥1.85bn | CN¥1.93bn | CN¥1.08bn | CN¥1.15bn | CN¥1.36bn | CN¥516.5m | CN¥431.7m |
| Diluted earnings per share | -0.02 | 0.51 | 0.69 | 1.17 | 1.21 | 0.69 | 0.72 | 0.83 | 0.31 | 0.35 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥25.83bn | CN¥27.06bn | CN¥28.82bn | CN¥29.05bn | CN¥29.72bn | CN¥27.36bn | CN¥24.48bn | CN¥24.83bn | CN¥22.50bn | CN¥20.34bn |
| Cash and short-term investments | — | CN¥6.15bn | CN¥6.74bn | CN¥7.47bn | CN¥9.03bn | CN¥7.25bn | CN¥5.67bn | CN¥5.15bn | CN¥3.07bn | CN¥1.54bn |
| Total liabilities | CN¥11.18bn | CN¥11.77bn | CN¥13.23bn | CN¥13.32bn | CN¥14.13bn | CN¥13.13bn | CN¥11.00bn | CN¥12.28bn | CN¥11.41bn | CN¥11.58bn |
| Debt | CN¥731.6m | CN¥3.74bn | CN¥5.60bn | CN¥4.85bn | CN¥6.92bn | CN¥7.57bn | CN¥6.31bn | CN¥6.27bn | CN¥6.44bn | CN¥7.54bn |
| Shareholders' equity | CN¥13.63bn | CN¥14.30bn | CN¥14.24bn | CN¥14.07bn | CN¥13.47bn | CN¥12.09bn | CN¥11.32bn | CN¥10.52bn | CN¥9.30bn | CN¥7.03bn |
| Shares outstanding | 1,588m | 1,588m | 1,588m | 1,588m | 1,592m | 1,560m | 1,604m | 1,635m | 1,680m | 1,248m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥677.4m | CN¥1.17bn | CN¥645.1m | CN¥4.04bn | CN¥4.38bn | CN¥1.85bn | CN¥2.61bn | CN¥3.32bn | CN¥1.79bn | CN¥891.1m |
| Capital spending | −CN¥839.2m | −CN¥1.12bn | −CN¥1.00bn | −CN¥1.43bn | −CN¥1.09bn | −CN¥637.9m | −CN¥687.6m | −CN¥723.4m | −CN¥406.5m | −CN¥124.5m |
| Free cash flow | −CN¥1.52bn | CN¥44.4m | −CN¥357.6m | CN¥2.61bn | CN¥3.29bn | CN¥1.21bn | CN¥1.92bn | CN¥2.60bn | CN¥1.38bn | CN¥766.6m |
| Dividends paid | −CN¥543.3m | −CN¥720.9m | −CN¥1.11bn | −CN¥730.4m | −CN¥444.6m | −CN¥349.3m | −CN¥412.8m | −CN¥478.5m | −CN¥523.6m | −CN¥480.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.04bn | CN¥4.43bn | CN¥4.45bn | CN¥4.12bn | CN¥4.31bn | CN¥4.51bn | CN¥5.59bn | CN¥4.93bn |
| Gross profit | CN¥365.7m | CN¥305.7m | CN¥206.4m | CN¥158.6m | CN¥774.9m | CN¥505.7m | CN¥594.7m | CN¥589.2m |
| Operating income | −CN¥20.2m | −CN¥53.7m | −CN¥254.5m | −CN¥251.0m | CN¥335.4m | CN¥132.8m | CN¥115.2m | CN¥160.8m |
| Net income | −CN¥28.9m | −CN¥109.3m | −CN¥217.4m | −CN¥175.7m | CN¥293.4m | CN¥67.3m | CN¥167.8m | CN¥166.0m |
| Diluted earnings per share | -0.02 | -0.07 | -0.14 | -0.11 | 0.18 | 0.04 | 0.11 | 0.10 |
| Cash from operations | — | — | — | CN¥294.0m | CN¥319.0m | −CN¥623.0m | CN¥492.0m | CN¥478.0m |
| Capital spending | −CN¥131.0m | −CN¥119.0m | −CN¥177.0m | −CN¥219.0m | −CN¥186.0m | −CN¥255.0m | −CN¥363.0m | −CN¥243.0m |
| Free cash flow | — | — | — | CN¥75.0m | CN¥133.0m | −CN¥878.0m | CN¥129.0m | CN¥235.0m |
| Total assets | CN¥25.63bn | CN¥26.07bn | CN¥25.83bn | CN¥26.44bn | CN¥26.70bn | CN¥27.16bn | CN¥27.06bn | CN¥27.43bn |
| Cash and short-term investments | — | — | — | CN¥5.90bn | CN¥5.99bn | CN¥6.19bn | CN¥6.15bn | CN¥6.19bn |
| Debt | CN¥302.6m | CN¥328.5m | CN¥731.6m | CN¥4.49bn | CN¥3.91bn | CN¥4.24bn | CN¥3.67bn | CN¥6.22bn |
| Shareholders' equity | CN¥13.49bn | CN¥13.54bn | CN¥13.63bn | CN¥14.04bn | CN¥14.28bn | CN¥14.35bn | CN¥14.30bn | CN¥14.23bn |
Financial ratios
Data as of 7 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 9.5% | 12.2% | 13.9% | 16.0% | 20.6% | 16.5% |
| Operating margin | 0.6% | 3.4% | 5.9% | 8.7% | 13.7% | 10.0% |
| Net margin | -0.2% | 3.9% | 4.8% | 7.1% | 8.3% | 5.9% |
| Return on equity | -0.2% | 5.7% | 7.7% | 13.2% | 14.3% | 8.9% |
| Return on assets | -0.1% | 3.0% | 3.8% | 6.4% | 6.5% | 3.9% |
| Free cash flow yield | 2.0% | 27.7% | 19.9% | 66.0% | 65.8% | 30.6% |
| Revenue growth | -17.9% | -7.3% | -12.2% | 12.3% | 27.4% | -9.4% |
| Earnings growth | -104.0% | -25.2% | -41.1% | -3.9% | 78.6% | -6.2% |
| Current ratio | 1.04x | 1.04x | 1.32x | 1.26x | 1.45x | 1.60x |
| Debt to equity | 0.05x | 0.26x | 0.38x | 0.33x | 0.45x | 0.57x |
| Equity ratio | 52.8% | 52.8% | 49.4% | 48.4% | 45.3% | 44.2% |
| Interest coverage | 0.72x | 2.88x | 6.64x | 6.87x | 7.74x | 4.99x |
| R&D as a share of sales | 2.9% | 2.2% | 1.8% | 1.2% | 0.9% | 0.8% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.2% | -2.0% | 2.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -12.5% | -0.9% | 5.3% |
| Operating income | -78.2% | -57.2% | — |
| Net income | — | — | -22.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 11.0% | 13.2% | 15.0% | 14.1% |
| Operating margin | 2.1% | 4.9% | 6.8% | 6.6% |
| Net margin | 2.0% | 4.3% | 5.2% | 4.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -282.5 | 13.2 | 11.1 | 5.8 | 5.9 | 8.3 | 7.6 | 6.8 | 20.0 | 20.7 |
| Price to sales | 0.5 | 0.5 | 0.5 | 0.4 | 0.5 | 0.5 | 0.4 | 0.5 | 0.6 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 9 years. Last went ex-dividend on 21 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.02 | 0.26 | 0.343 | 0.58 | 0.46 | 0.28 | 0.22 | 0.26 |
- 2-for-1 split · 21 May 2009
- 1-to-1 reverse split · 13 Jan 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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