H 
29.26
-2.50%
Close of 9 Nov 2026, in CNY
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥20.50bn
FY2016FY2025
Net income
−CN¥2.99bn
FY2016FY2025
Free cash flow
CN¥2.82bn
FY2016FY2025
Shareholders' equity
CN¥29.25bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥20.50bn | CN¥26.69bn | CN¥26.58bn | CN¥23.66bn | CN¥21.39bn | CN¥8.97bn | CN¥8.94bn | CN¥11.08bn | CN¥6.95bn | CN¥4.58bn |
| Gross profit | CN¥5.16bn | CN¥4.55bn | CN¥5.29bn | CN¥8.12bn | CN¥11.29bn | CN¥2.52bn | CN¥2.48bn | CN¥4.52bn | CN¥2.69bn | CN¥1.41bn |
| Research and development | CN¥521.3m | CN¥571.5m | CN¥566.4m | CN¥723.0m | CN¥555.6m | CN¥229.5m | CN¥161.2m | CN¥205.3m | CN¥83.8m | CN¥60.1m |
| Operating income | CN¥364.2m | CN¥2.27bn | CN¥3.55bn | CN¥6.41bn | CN¥9.85bn | CN¥1.81bn | CN¥1.28bn | CN¥3.36bn | CN¥1.91bn | CN¥807.1m |
| Net income | −CN¥2.99bn | CN¥1.74bn | CN¥2.62bn | CN¥5.15bn | CN¥8.22bn | CN¥1.40bn | CN¥1.11bn | CN¥2.81bn | CN¥1.52bn | CN¥651.6m |
| Diluted earnings per share | -2.55 | 1.48 | 2.22 | 4.79 | 7.64 | 1.51 | 1.17 | 2.98 | 1.81 | 0.77 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥83.61bn | CN¥90.77bn | CN¥83.34bn | CN¥53.73bn | CN¥30.31bn | CN¥20.00bn | CN¥17.39bn | CN¥16.06bn | CN¥14.16bn | CN¥7.41bn |
| Cash and short-term investments | — | CN¥1.88bn | CN¥2.49bn | CN¥3.15bn | CN¥1.24bn | CN¥349.1m | CN¥300.0m | CN¥717.6m | CN¥2.13bn | CN¥794.3m |
| Total liabilities | CN¥54.31bn | CN¥57.94bn | CN¥50.92bn | CN¥29.76bn | CN¥10.07bn | CN¥10.22bn | CN¥8.79bn | CN¥8.03bn | CN¥8.70bn | CN¥4.71bn |
| Debt | — | CN¥34.98bn | CN¥32.10bn | CN¥18.06bn | CN¥3.20bn | CN¥5.38bn | CN¥4.57bn | CN¥4.29bn | CN¥5.09bn | CN¥3.25bn |
| Shareholders' equity | CN¥29.25bn | CN¥32.85bn | CN¥32.41bn | CN¥23.83bn | CN¥20.12bn | CN¥9.69bn | CN¥8.50bn | CN¥7.93bn | CN¥5.42bn | CN¥2.64bn |
| Shares outstanding | 1,172m | 1,178m | 1,182m | 1,074m | 1,076m | 930m | 942m | 942m | 837m | 844m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥4.01bn | CN¥4.52bn | −CN¥663.1m | −CN¥626.0m | CN¥3.71bn | CN¥1.25bn | CN¥1.37bn | CN¥1.25bn | CN¥1.93bn | CN¥928.9m |
| Capital spending | −CN¥1.19bn | −CN¥5.61bn | −CN¥18.66bn | −CN¥11.48bn | −CN¥2.65bn | −CN¥1.31bn | −CN¥1.47bn | −CN¥2.72bn | −CN¥2.21bn | −CN¥546.3m |
| Free cash flow | CN¥2.82bn | −CN¥1.09bn | −CN¥19.32bn | −CN¥12.11bn | CN¥1.06bn | −CN¥51.0m | −CN¥99.0m | −CN¥1.48bn | −CN¥280.7m | CN¥382.6m |
| Dividends paid | −CN¥1.30bn | −CN¥1.75bn | −CN¥1.88bn | −CN¥1.62bn | −CN¥272.0m | −CN¥215.7m | −CN¥549.4m | −CN¥466.8m | −CN¥143.0m | −CN¥124.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.15bn | CN¥5.01bn | CN¥5.29bn | CN¥5.43bn | CN¥4.55bn | CN¥5.23bn | CN¥6.32bn | CN¥7.10bn |
| Gross profit | CN¥912.8m | CN¥955.3m | CN¥248.5m | CN¥470.7m | −CN¥160.9m | CN¥764.4m | CN¥61.8m | CN¥1.88bn |
| Operating income | CN¥737.5m | CN¥649.6m | −CN¥181.6m | CN¥401.1m | −CN¥505.4m | CN¥358.5m | CN¥172.6m | CN¥656.7m |
| Net income | CN¥247.2m | CN¥77.3m | −CN¥2.67bn | CN¥75.7m | −CN¥656.7m | CN¥259.7m | CN¥286.0m | CN¥476.4m |
| Diluted earnings per share | 0.21 | 0.07 | -2.28 | 0.06 | -0.56 | 0.22 | 0.24 | 0.40 |
| Cash from operations | — | — | — | CN¥203.0m | CN¥1.88bn | CN¥1.65bn | — | CN¥1.75bn |
| Capital spending | −CN¥256.0m | −CN¥200.0m | −CN¥264.0m | −CN¥95.0m | −CN¥63.0m | −CN¥767.0m | −CN¥1.89bn | −CN¥853.0m |
| Free cash flow | — | — | — | CN¥108.0m | CN¥1.81bn | CN¥881.0m | — | CN¥897.0m |
| Total assets | CN¥80.32bn | CN¥81.75bn | CN¥83.61bn | CN¥86.15bn | CN¥87.25bn | CN¥90.77bn | CN¥90.77bn | CN¥88.23bn |
| Cash and short-term investments | — | — | — | CN¥1.15bn | CN¥1.03bn | CN¥2.23bn | CN¥1.88bn | CN¥1.19bn |
| Debt | CN¥8.54bn | CN¥12.40bn | CN¥16.21bn | CN¥12.21bn | CN¥19.20bn | CN¥19.44bn | CN¥22.38bn | CN¥22.45bn |
| Shareholders' equity | CN¥29.69bn | CN¥29.42bn | CN¥29.25bn | CN¥32.01bn | CN¥32.47bn | CN¥33.11bn | CN¥32.85bn | CN¥32.63bn |
Financial ratios
Data as of 15 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 25.2% | 17.0% | 19.9% | 34.3% | 52.8% | 28.1% |
| Operating margin | 1.8% | 8.5% | 13.3% | 27.1% | 46.1% | 20.2% |
| Net margin | -14.6% | 6.5% | 9.9% | 21.8% | 38.4% | 15.7% |
| Return on equity | -10.2% | 5.3% | 8.1% | 21.6% | 40.9% | 14.5% |
| Return on assets | -3.6% | 1.9% | 3.1% | 9.6% | 27.1% | 7.0% |
| Free cash flow yield | 14.0% | 27.0% | 47.8% | 31.8% | 18.6% | 8.7% |
| Revenue growth | -23.2% | 0.4% | 12.4% | 10.6% | 138.5% | 0.3% |
| Earnings growth | -271.8% | -33.6% | -49.1% | -37.4% | 485.5% | 26.9% |
| Current ratio | 0.33x | 0.36x | 0.53x | 0.74x | 1.06x | 0.54x |
| Debt to equity | 0.55x | 0.68x | 0.95x | 0.76x | 0.16x | 0.48x |
| Equity ratio | 35.0% | 36.2% | 38.9% | 44.4% | 66.4% | 48.4% |
| Interest coverage | 0.31x | 2.39x | 6.38x | 18.55x | 51.63x | 7.48x |
| R&D as a share of sales | 2.5% | 2.1% | 2.1% | 3.1% | 2.6% | 2.6% |
| Buybacks as a share of market value | 0.5% | 0.3% | -10.1% | 0.2% | -15.8% | 1.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.7% | 18.0% | 19.0% |
| Operating income | -61.6% | -27.5% | 2.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.6% | 23.7% | 28.9% | 30.1% |
| Operating margin | 5.6% | 12.9% | 19.0% | 19.6% |
| Net margin | -2.6% | 6.7% | 12.6% | 13.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -20.7 | 37.6 | 23.0 | 17.3 | 17.3 | 22.1 | 25.1 | 10.5 | 22.4 |
| Price to sales | 3.0 | 2.5 | 2.3 | 3.8 | 6.6 | 3.5 | 3.1 | 2.7 | 4.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 8 years. Last went ex-dividend on 19 Aug 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.45 | 0.68 | 0.88 | 1.51 | 0.29 | 0.23 | 0.586 | 0.315 |
- 7-for-5 split · 11 Jul 2019
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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