S 
43.97
-0.90%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥21.46bn
FY2016FY2025
Net income
CN¥2.32bn
FY2016FY2025
Free cash flow
CN¥291.6m
FY2016FY2025
Shareholders' equity
CN¥18.16bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥21.46bn | CN¥20.00bn | CN¥17.94bn | CN¥8.37bn | CN¥10.86bn | CN¥9.37bn | CN¥14.80bn | CN¥13.11bn | CN¥10.97bn | CN¥8.43bn |
| Gross profit | CN¥2.92bn | CN¥2.59bn | CN¥2.42bn | −CN¥3.22bn | −CN¥472.7m | −CN¥602.8m | CN¥1.69bn | CN¥1.27bn | CN¥1.33bn | CN¥1.08bn |
| Research and development | CN¥163.8m | CN¥160.6m | CN¥144.2m | CN¥122.3m | CN¥119.4m | CN¥107.4m | CN¥125.2m | CN¥104.9m | CN¥64.3m | CN¥72.4m |
| Operating income | CN¥3.35bn | CN¥2.90bn | CN¥2.62bn | −CN¥3.42bn | CN¥5.9m | −CN¥625.8m | CN¥2.21bn | CN¥1.72bn | CN¥1.61bn | CN¥353.9m |
| Net income | CN¥2.32bn | CN¥2.27bn | CN¥2.26bn | −CN¥3.04bn | CN¥39.1m | −CN¥588.4m | CN¥1.84bn | CN¥1.50bn | CN¥1.26bn | CN¥950.5m |
| Diluted earnings per share | 2.38 | 2.33 | 2.31 | -3.27 | 0.04 | -0.66 | 2.00 | 1.64 | 1.57 | 1.17 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥46.88bn | CN¥43.84bn | CN¥44.24bn | CN¥43.42bn | CN¥38.32bn | CN¥32.43bn | CN¥29.37bn | CN¥26.58bn | CN¥20.60bn | CN¥19.65bn |
| Cash and short-term investments | — | CN¥10.22bn | CN¥11.58bn | CN¥10.33bn | CN¥7.26bn | CN¥9.19bn | CN¥7.72bn | CN¥4.91bn | CN¥4.28bn | CN¥4.71bn |
| Total liabilities | CN¥28.71bn | CN¥26.45bn | CN¥28.49bn | CN¥29.73bn | CN¥24.57bn | CN¥18.25bn | CN¥14.33bn | CN¥13.25bn | CN¥12.14bn | CN¥12.32bn |
| Debt | — | CN¥20.76bn | CN¥23.14bn | CN¥26.18bn | CN¥20.15bn | CN¥14.30bn | CN¥9.56bn | CN¥9.18bn | CN¥8.86bn | CN¥9.20bn |
| Shareholders' equity | CN¥18.16bn | CN¥17.38bn | CN¥15.75bn | CN¥13.69bn | CN¥13.75bn | CN¥14.18bn | CN¥15.04bn | CN¥13.32bn | CN¥8.46bn | CN¥7.32bn |
| Shares outstanding | 972m | 974m | 977m | 928m | 1,106m | 894m | 920m | 914m | 802m | 810m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥6.62bn | CN¥5.89bn | CN¥6.69bn | CN¥438.6m | CN¥1.68bn | CN¥825.8m | CN¥3.44bn | CN¥2.90bn | CN¥2.30bn | CN¥2.04bn |
| Capital spending | −CN¥6.33bn | −CN¥7.21bn | −CN¥3.21bn | −CN¥4.57bn | −CN¥6.20bn | −CN¥4.36bn | −CN¥5.34bn | −CN¥3.17bn | −CN¥2.55bn | −CN¥4.83bn |
| Free cash flow | CN¥291.6m | −CN¥1.32bn | CN¥3.49bn | −CN¥4.13bn | −CN¥4.52bn | −CN¥3.54bn | −CN¥1.91bn | −CN¥275.4m | −CN¥251.8m | −CN¥2.79bn |
| Dividends paid | −CN¥1.65bn | −CN¥1.17bn | −CN¥553.1m | −CN¥570.9m | −CN¥478.5m | −CN¥632.4m | −CN¥573.1m | −CN¥450.9m | −CN¥429.5m | −CN¥519.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥6.27bn | CN¥6.07bn | CN¥4.69bn | CN¥6.47bn | CN¥4.99bn | CN¥5.32bn | CN¥4.02bn | CN¥6.10bn |
| Gross profit | CN¥65.6m | CN¥1.22bn | −CN¥52.9m | CN¥1.54bn | CN¥562.2m | CN¥868.6m | −CN¥456.4m | CN¥1.57bn |
| Operating income | CN¥173.8m | CN¥1.37bn | CN¥22.8m | CN¥1.34bn | CN¥701.1m | CN¥892.6m | −CN¥406.6m | CN¥1.68bn |
| Net income | CN¥59.4m | CN¥982.8m | −CN¥18.1m | CN¥1.17bn | CN¥491.5m | CN¥677.1m | −CN¥331.3m | CN¥1.24bn |
| Diluted earnings per share | 0.06 | 1.01 | -0.02 | 1.20 | 0.51 | 0.70 | -0.34 | 1.28 |
| Cash from operations | — | — | — | CN¥2.64bn | CN¥2.34bn | CN¥453.0m | CN¥381.0m | CN¥2.30bn |
| Capital spending | −CN¥2.42bn | −CN¥2.06bn | −CN¥1.49bn | −CN¥2.10bn | −CN¥1.45bn | −CN¥1.29bn | −CN¥1.36bn | −CN¥1.73bn |
| Free cash flow | — | — | — | CN¥544.0m | CN¥890.0m | −CN¥840.0m | −CN¥979.0m | CN¥569.0m |
| Total assets | CN¥51.57bn | CN¥48.42bn | CN¥46.88bn | CN¥46.53bn | CN¥46.23bn | CN¥45.43bn | CN¥43.84bn | CN¥42.87bn |
| Cash and short-term investments | — | — | — | CN¥8.97bn | CN¥10.26bn | CN¥10.86bn | CN¥10.22bn | CN¥9.61bn |
| Debt | CN¥12.16bn | CN¥12.59bn | CN¥13.14bn | CN¥5.33bn | CN¥14.47bn | CN¥15.87bn | CN¥14.44bn | CN¥18.16bn |
| Shareholders' equity | CN¥17.70bn | CN¥18.64bn | CN¥18.16bn | CN¥18.18bn | CN¥17.53bn | CN¥17.79bn | CN¥17.38bn | CN¥17.72bn |
Financial ratios
Data as of 18 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 13.6% | 12.9% | 13.5% | -38.5% | -4.4% | -6.4% |
| Operating margin | 15.6% | 14.5% | 14.6% | -40.8% | 0.1% | -6.7% |
| Net margin | 10.8% | 11.4% | 12.6% | -36.3% | 0.4% | -6.3% |
| Return on equity | 12.8% | 13.1% | 14.3% | -22.2% | 0.3% | -4.1% |
| Return on assets | 4.9% | 5.2% | 5.1% | -7.0% | 0.1% | -1.8% |
| Free cash flow yield | 31.9% | 32.2% | 24.2% | 12.9% | 17.0% | 13.9% |
| Revenue growth | 7.3% | 11.5% | 114.3% | -22.9% | 15.8% | -36.7% |
| Earnings growth | 2.0% | 0.7% | -174.4% | -7861.9% | -106.6% | -132.0% |
| Current ratio | 0.91x | 1.33x | 1.01x | 0.88x | 0.90x | 0.95x |
| Debt to equity | 0.72x | 0.83x | 0.95x | 1.61x | 1.24x | 0.99x |
| Equity ratio | 38.7% | 39.7% | 35.6% | 31.5% | 35.9% | 43.7% |
| Interest coverage | 6.89x | 5.42x | 4.03x | -5.12x | 0.01x | -2.36x |
| R&D as a share of sales | 0.8% | 0.8% | 0.8% | 1.5% | 1.1% | 1.1% |
| Buybacks as a share of market value | 0.2% | 0.3% | -5.3% | 16.1% | -23.7% | 2.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 36.9% | 18.0% | 10.2% |
| Operating income | — | — | 14.0% |
| Net income | — | — | 5.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 13.3% | 6.9% | 4.1% | 7.4% |
| Operating margin | 15.1% | 8.0% | 5.5% | 8.1% |
| Net margin | 11.1% | 5.6% | 3.7% | 7.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 24.9 | 24.7 | 21.7 | -19.6 | — | -84.3 | 21.9 | 19.4 | 23.7 | 31.3 |
| Price to sales | 2.7 | 2.8 | 2.7 | 7.1 | 5.8 | 5.3 | 2.7 | 2.2 | 2.7 | 3.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 3 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.53 | 1.25 | 0.70 | 0.20 | 0.20 | 0.187 | 0.16 | 0.21 |
- 2-for-1 split · 21 Oct 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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