L 
3.22
-0.62%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥68.89bn
FY2016FY2025
Net income
CN¥671.0m
FY2016FY2025
Free cash flow
CN¥3.24bn
FY2016FY2025
Shareholders' equity
CN¥9.04bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥68.89bn | CN¥70.13bn | CN¥79.66bn | CN¥80.73bn | CN¥92.72bn | CN¥54.69bn | CN¥48.62bn | CN¥47.35bn | CN¥41.56bn | CN¥26.65bn |
| Gross profit | CN¥6.85bn | CN¥2.54bn | CN¥1.56bn | −CN¥818.5m | CN¥6.15bn | CN¥4.23bn | CN¥4.74bn | CN¥6.80bn | CN¥3.72bn | CN¥1.41bn |
| Research and development | CN¥789.8m | CN¥1.22bn | CN¥1.28bn | CN¥1.09bn | CN¥1.86bn | CN¥1.55bn | CN¥1.40bn | CN¥267.1m | CN¥50.8m | CN¥53.5m |
| Operating income | CN¥2.51bn | −CN¥615.6m | −CN¥1.51bn | −CN¥4.26bn | CN¥2.37bn | CN¥1.90bn | CN¥2.65bn | CN¥5.39bn | CN¥3.06bn | CN¥223.5m |
| Net income | CN¥671.0m | −CN¥432.8m | −CN¥1.01bn | −CN¥2.34bn | CN¥1.45bn | CN¥1.72bn | CN¥2.34bn | CN¥4.61bn | CN¥2.65bn | CN¥196.4m |
| Diluted earnings per share | 0.29 | -0.17 | -0.38 | -0.90 | 0.54 | 0.69 | 0.90 | 1.80 | 1.03 | 0.08 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥61.38bn | CN¥64.68bn | CN¥68.58bn | CN¥71.41bn | CN¥72.56bn | CN¥60.59bn | CN¥26.45bn | CN¥24.95bn | CN¥23.07bn | CN¥20.81bn |
| Cash and short-term investments | — | CN¥5.14bn | CN¥6.74bn | CN¥8.76bn | CN¥4.20bn | CN¥4.25bn | CN¥3.51bn | CN¥5.97bn | CN¥3.14bn | CN¥1.32bn |
| Total liabilities | CN¥38.95bn | CN¥44.01bn | CN¥47.31bn | CN¥48.85bn | CN¥45.99bn | CN¥35.71bn | CN¥15.10bn | CN¥14.42bn | CN¥15.87bn | CN¥16.18bn |
| Debt | CN¥19.08bn | CN¥21.94bn | CN¥31.14bn | CN¥30.18bn | CN¥26.36bn | CN¥20.59bn | CN¥4.26bn | CN¥7.40bn | CN¥8.24bn | CN¥10.44bn |
| Shareholders' equity | CN¥9.04bn | CN¥8.37bn | CN¥8.81bn | CN¥9.81bn | CN¥12.58bn | CN¥11.77bn | CN¥11.34bn | CN¥10.53bn | CN¥7.20bn | CN¥4.63bn |
| Shares outstanding | 2,353m | 2,499m | 2,646m | 2,598m | 2,688m | 2,505m | 2,607m | 2,563m | 2,563m | 2,565m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥4.47bn | CN¥2.59bn | CN¥252.1m | CN¥6.66bn | CN¥3.23bn | CN¥2.61bn | CN¥4.89bn | CN¥5.65bn | CN¥4.61bn | CN¥1.59bn |
| Capital spending | −CN¥1.23bn | −CN¥2.20bn | −CN¥1.82bn | −CN¥1.86bn | −CN¥3.40bn | −CN¥12.81bn | −CN¥33.8m | −CN¥44.2m | −CN¥181.1m | −CN¥20.0m |
| Free cash flow | CN¥3.24bn | CN¥395.2m | −CN¥1.57bn | CN¥4.80bn | −CN¥171.9m | −CN¥10.20bn | CN¥4.85bn | CN¥5.61bn | CN¥4.43bn | CN¥1.57bn |
| Dividends paid | −CN¥946.1m | −CN¥1.16bn | −CN¥1.24bn | −CN¥451.1m | −CN¥640.7m | −CN¥1.15bn | −CN¥1.54bn | −CN¥1.57bn | −CN¥435.4m | −CN¥665.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥16.94bn | CN¥16.02bn | CN¥18.09bn | CN¥16.12bn | CN¥17.56bn | CN¥17.12bn | CN¥17.04bn | CN¥15.27bn |
| Gross profit | CN¥836.7m | CN¥633.8m | CN¥805.0m | CN¥1.15bn | CN¥856.6m | CN¥1.12bn | CN¥651.2m | −CN¥28.7m |
| Operating income | CN¥336.8m | CN¥234.8m | CN¥503.4m | CN¥608.3m | CN¥241.3m | CN¥708.6m | CN¥202.0m | −CN¥609.5m |
| Net income | CN¥52.5m | CN¥23.6m | CN¥11.6m | CN¥291.5m | CN¥107.4m | CN¥260.5m | −CN¥125.4m | −CN¥361.5m |
| Diluted earnings per share | 0.02 | 0.01 | 0.00 | 0.12 | 0.05 | 0.11 | -0.05 | -0.14 |
| Cash from operations | — | — | — | CN¥2.00bn | CN¥1.31bn | CN¥322.0m | — | −CN¥732.0m |
| Capital spending | −CN¥53.0m | −CN¥574.0m | −CN¥90.0m | −CN¥87.0m | −CN¥77.0m | −CN¥973.0m | −CN¥576.0m | −CN¥686.0m |
| Free cash flow | — | — | — | CN¥1.92bn | CN¥1.23bn | −CN¥651.0m | — | −CN¥1.42bn |
| Total assets | CN¥61.68bn | CN¥62.76bn | CN¥61.38bn | CN¥63.72bn | CN¥63.67bn | CN¥65.50bn | CN¥64.68bn | CN¥64.16bn |
| Cash and short-term investments | — | — | — | CN¥4.16bn | CN¥4.84bn | CN¥5.26bn | CN¥5.14bn | CN¥3.92bn |
| Debt | CN¥18.46bn | CN¥19.93bn | CN¥19.08bn | CN¥9.33bn | CN¥22.20bn | CN¥21.92bn | CN¥21.94bn | CN¥33.11bn |
| Shareholders' equity | CN¥9.18bn | CN¥9.39bn | CN¥9.04bn | CN¥9.02bn | CN¥8.75bn | CN¥8.64bn | CN¥8.37bn | CN¥8.49bn |
Financial ratios
Data as of 2 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 9.9% | 3.6% | 2.0% | -1.0% | 6.6% | 7.7% |
| Operating margin | 3.7% | -0.9% | -1.9% | -5.3% | 2.6% | 3.5% |
| Net margin | 1.0% | -0.6% | -1.3% | -2.9% | 1.6% | 3.1% |
| Return on equity | 7.4% | -5.2% | -11.5% | -23.9% | 11.5% | 14.6% |
| Return on assets | 1.1% | -0.7% | -1.5% | -3.3% | 2.0% | 2.8% |
| Free cash flow yield | 67.7% | 53.5% | 21.9% | 91.7% | 68.8% | 171.8% |
| Revenue growth | -1.8% | -12.0% | -1.3% | -12.9% | 69.5% | 12.5% |
| Earnings growth | -255.0% | -57.2% | -56.8% | -261.9% | -15.8% | -26.6% |
| Current ratio | 0.58x | 0.58x | 0.77x | 0.86x | 0.96x | 1.01x |
| Debt to equity | 2.11x | 2.62x | 3.53x | 3.07x | 2.09x | 1.75x |
| Equity ratio | 14.7% | 12.9% | 12.8% | 13.7% | 17.3% | 19.4% |
| Interest coverage | 2.69x | -0.56x | -1.34x | -3.76x | 2.74x | 6.39x |
| R&D as a share of sales | 1.1% | 1.7% | 1.6% | 1.4% | 2.0% | 2.8% |
| Buybacks as a share of market value | 5.9% | 5.5% | -1.8% | 3.3% | -7.3% | 3.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.1% | 4.7% | 10.3% |
| Operating income | — | 5.8% | — |
| Net income | — | -17.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 6.8% | 3.4% | 4.6% | 5.8% |
| Operating margin | 1.4% | -1.3% | 0.1% | 1.6% |
| Net margin | 0.2% | -1.0% | 0.0% | 1.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 17.6 | -15.9 | -8.3 | -4.2 | 9.7 | 7.6 | 6.3 | 3.6 | 7.7 | 62.1 |
| Price to sales | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.3 | 0.4 | 0.5 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 16 Jun 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.176 | 0.25 | 0.45 | 0.60 | 0.50 | 0.03 | 0.03 | 0.03 |
- 9-for-5 split · 21 May 2008
- 2-for-1 split · 25 Jun 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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