P 
12.70
+1.28%
Close of 6 Nov 2026, in CNY
At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥2.86trn
FY2016FY2025
Net income
CN¥157.30bn
FY2016FY2025
Free cash flow
CN¥119.72bn
FY2016FY2025
Shareholders' equity
CN¥1.59trn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.86trn | CN¥2.94trn | CN¥3.01trn | CN¥3.24trn | CN¥2.61trn | CN¥1.93trn | CN¥2.52trn | CN¥2.37trn | CN¥2.02trn | CN¥1.62trn |
| Research and development | CN¥23.55bn | CN¥23.01bn | CN¥21.97bn | CN¥20.02bn | CN¥16.73bn | CN¥15.75bn | CN¥15.67bn | CN¥14.09bn | CN¥12.32bn | CN¥11.23bn |
| Operating income | CN¥241.51bn | CN¥248.16bn | CN¥253.23bn | CN¥216.66bn | CN¥161.15bn | CN¥75.94bn | CN¥121.76bn | CN¥122.94bn | CN¥67.72bn | CN¥60.63bn |
| Net income | CN¥157.30bn | CN¥164.68bn | CN¥161.41bn | CN¥148.74bn | CN¥92.16bn | CN¥19.00bn | CN¥45.68bn | CN¥53.03bn | CN¥22.79bn | CN¥7.90bn |
| Diluted earnings per share | 0.86 | 0.90 | 0.88 | 0.81 | 0.50 | 0.10 | 0.25 | 0.29 | 0.15 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.83trn | CN¥2.75trn | CN¥2.75trn | CN¥2.67trn | CN¥2.50trn | CN¥2.49trn | CN¥2.73trn | CN¥2.43trn | CN¥2.40trn | CN¥2.40trn |
| Cash and short-term investments | — | CN¥219.06bn | CN¥277.28bn | CN¥228.93bn | CN¥163.54bn | CN¥145.95bn | CN¥110.67bn | CN¥95.49bn | CN¥136.12bn | CN¥98.62bn |
| Total liabilities | CN¥1.03trn | CN¥1.04trn | CN¥1.12trn | CN¥1.14trn | CN¥1.09trn | CN¥1.12trn | CN¥1.29trn | CN¥1.02trn | CN¥1.02trn | CN¥1.02trn |
| Debt | CN¥163.46bn | CN¥359.56bn | CN¥415.16bn | CN¥464.51bn | CN¥490.39bn | CN¥516.46bn | CN¥631.41bn | CN¥422.70bn | CN¥475.97bn | CN¥526.20bn |
| Shareholders' equity | CN¥1.59trn | CN¥1.52trn | CN¥1.45trn | CN¥1.37trn | CN¥1.26trn | CN¥1.22trn | CN¥1.23trn | CN¥1.21trn | CN¥1.19trn | CN¥1.19trn |
| Shares outstanding | 183,021m | 182,973m | 183,021m | 183,021m | 186,000m | 182,877m | 183,958m | 182,922m | 156,333m | 183,021m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥412.51bn | CN¥406.53bn | CN¥456.85bn | CN¥393.77bn | CN¥341.47bn | CN¥318.57bn | CN¥359.61bn | CN¥351.56bn | CN¥366.65bn | CN¥265.18bn |
| Capital spending | −CN¥292.79bn | −CN¥302.65bn | −CN¥282.51bn | −CN¥245.24bn | −CN¥265.56bn | −CN¥256.73bn | −CN¥326.76bn | −CN¥275.74bn | −CN¥237.00bn | −CN¥189.42bn |
| Free cash flow | CN¥119.72bn | CN¥103.88bn | CN¥174.34bn | CN¥148.53bn | CN¥75.91bn | CN¥61.85bn | CN¥32.85bn | CN¥75.82bn | CN¥129.65bn | CN¥75.76bn |
| Dividends paid | −CN¥100.40bn | −CN¥95.12bn | −CN¥78.70bn | −CN¥54.69bn | −CN¥39.87bn | −CN¥28.08bn | −CN¥30.68bn | −CN¥27.37bn | −CN¥19.63bn | −CN¥8.45bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥791.11bn | CN¥736.38bn | CN¥695.21bn | CN¥719.16bn | CN¥696.99bn | CN¥753.11bn | CN¥681.70bn | CN¥702.41bn |
| Operating income | CN¥64.73bn | CN¥73.42bn | CN¥65.09bn | CN¥57.30bn | CN¥54.19bn | CN¥68.75bn | CN¥60.28bn | CN¥66.66bn |
| Net income | CN¥55.60bn | CN¥48.33bn | CN¥31.02bn | CN¥42.29bn | CN¥37.19bn | CN¥46.81bn | CN¥32.16bn | CN¥43.91bn |
| Diluted earnings per share | 0.30 | 0.26 | 0.17 | 0.23 | 0.20 | 0.26 | 0.18 | 0.24 |
| Cash from operations | — | — | — | CN¥159.88bn | CN¥87.63bn | CN¥139.44bn | CN¥67.60bn | CN¥121.60bn |
| Capital spending | −CN¥57.74bn | −CN¥54.73bn | −CN¥115.13bn | −CN¥62.86bn | −CN¥57.18bn | −CN¥57.52bn | −CN¥115.24bn | −CN¥69.40bn |
| Free cash flow | — | — | — | CN¥97.02bn | CN¥30.45bn | CN¥81.92bn | −CN¥47.63bn | CN¥52.20bn |
| Total assets | CN¥3.02trn | CN¥3.04trn | CN¥2.83trn | CN¥2.85trn | CN¥2.85trn | CN¥2.84trn | CN¥2.75trn | CN¥2.78trn |
| Cash and short-term investments | — | — | — | CN¥289.49bn | CN¥293.52bn | CN¥299.70bn | CN¥219.06bn | CN¥261.18bn |
| Debt | CN¥175.21bn | CN¥176.43bn | CN¥163.46bn | CN¥93.71bn | CN¥263.34bn | CN¥256.34bn | CN¥260.40bn | CN¥244.21bn |
| Shareholders' equity | CN¥1.64trn | CN¥1.62trn | CN¥1.59trn | CN¥1.56trn | CN¥1.56trn | CN¥1.56trn | CN¥1.52trn | CN¥1.49trn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.0% | 8.2% | 5.2% |
| Operating income | 3.7% | 26.0% | 11.8% |
| Net income | 1.9% | 52.6% | 16.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 8.4% | 8.0% | 7.2% | 6.1% |
| Net margin | 5.5% | 5.2% | 4.5% | 3.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 12.1 | 9.9 | 8.0 | 6.1 | 9.9 | 39.9 | 23.5 | 24.9 | 55.5 | 184.2 |
| Price to sales | 0.7 | 0.6 | 0.4 | 0.3 | 0.3 | 0.4 | 0.4 | 0.6 | 0.6 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 18 years. Last went ex-dividend on 26 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.25 | 0.47 | 0.45 | 0.43 | 0.299 | 0.218 | 0.153 | 0.035 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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