A 
18.34
-0.92%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥3.99bn
FY2016FY2025
Net income
CN¥673.3m
FY2016FY2025
Free cash flow
−CN¥406.5m
FY2016FY2025
Shareholders' equity
CN¥10.40bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥3.99bn | CN¥6.01bn | CN¥5.96bn | CN¥5.14bn | CN¥5.03bn | CN¥4.01bn | CN¥4.67bn | CN¥4.27bn | CN¥3.60bn | CN¥2.83bn |
| Gross profit | CN¥2.76bn | CN¥4.45bn | CN¥4.45bn | CN¥3.79bn | CN¥3.68bn | CN¥3.00bn | CN¥3.49bn | CN¥3.16bn | CN¥2.61bn | CN¥2.04bn |
| Research and development | CN¥31.0m | CN¥30.3m | CN¥33.6m | CN¥24.6m | CN¥21.6m | CN¥18.0m | CN¥5.4m | CN¥5.2m | CN¥3.7m | CN¥11.1m |
| Operating income | CN¥841.5m | CN¥2.28bn | CN¥2.33bn | CN¥2.10bn | CN¥2.36bn | CN¥1.69bn | CN¥2.28bn | CN¥2.06bn | CN¥1.56bn | CN¥1.06bn |
| Net income | CN¥673.3m | CN¥1.66bn | CN¥1.72bn | CN¥1.55bn | CN¥1.73bn | CN¥1.28bn | CN¥1.72bn | CN¥1.53bn | CN¥1.11bn | CN¥783.5m |
| Diluted earnings per share | 1.13 | 2.77 | 2.88 | 2.60 | 2.89 | 2.13 | 2.88 | 2.55 | 1.84 | 1.32 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥12.71bn | CN¥13.66bn | CN¥12.53bn | CN¥11.53bn | CN¥11.03bn | CN¥9.81bn | CN¥9.50bn | CN¥8.84bn | CN¥7.68bn | CN¥5.69bn |
| Cash and short-term investments | — | CN¥2.19bn | CN¥2.04bn | CN¥2.15bn | CN¥2.64bn | CN¥3.01bn | CN¥3.87bn | CN¥1.27bn | CN¥1.35bn | CN¥592.1m |
| Total liabilities | CN¥2.31bn | CN¥3.14bn | CN¥2.78bn | CN¥2.63bn | CN¥2.78bn | CN¥2.57bn | CN¥2.49bn | CN¥2.67bn | CN¥2.59bn | CN¥1.45bn |
| Debt | — | CN¥521.4m | CN¥600.1m | CN¥2.0m | CN¥3.8m | CN¥468.3m | CN¥451.9m | CN¥423.0m | CN¥398.5m | CN¥240.4m |
| Shareholders' equity | CN¥10.40bn | CN¥10.51bn | CN¥9.75bn | CN¥8.90bn | CN¥8.25bn | CN¥7.24bn | CN¥7.01bn | CN¥6.17bn | CN¥5.08bn | CN¥4.24bn |
| Shares outstanding | 597m | 597m | 597m | 597m | 597m | 599m | 598m | 600m | 605m | 591m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −CN¥216.2m | CN¥1.46bn | CN¥910.7m | CN¥829.1m | CN¥785.6m | CN¥498.7m | CN¥1.30bn | CN¥1.12bn | CN¥1.57bn | CN¥639.7m |
| Capital spending | −CN¥190.3m | −CN¥407.3m | −CN¥290.1m | −CN¥398.2m | −CN¥599.8m | −CN¥384.9m | −CN¥137.5m | −CN¥273.2m | −CN¥177.1m | −CN¥177.8m |
| Free cash flow | −CN¥406.5m | CN¥1.05bn | CN¥620.6m | CN¥430.9m | CN¥185.7m | CN¥113.8m | CN¥1.16bn | CN¥846.5m | CN¥1.39bn | CN¥461.9m |
| Dividends paid | −CN¥775.7m | −CN¥899.1m | −CN¥900.0m | −CN¥895.3m | −CN¥716.3m | −CN¥900.0m | −CN¥900.0m | −CN¥450.0m | −CN¥270.0m | −CN¥211.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥576.3m | CN¥1.38bn | CN¥816.9m | CN¥520.3m | CN¥720.7m | CN¥1.81bn | CN¥1.65bn | CN¥1.20bn |
| Gross profit | CN¥384.6m | CN¥930.0m | CN¥505.8m | CN¥280.4m | CN¥464.4m | CN¥1.38bn | CN¥1.19bn | CN¥875.2m |
| Operating income | CN¥53.8m | CN¥415.0m | −CN¥71.5m | CN¥17.4m | CN¥134.3m | CN¥813.7m | CN¥533.7m | CN¥467.5m |
| Net income | CN¥36.1m | CN¥328.7m | −CN¥68.7m | CN¥27.0m | CN¥104.6m | CN¥610.5m | CN¥344.6m | CN¥361.9m |
| Diluted earnings per share | 0.06 | 0.55 | -0.12 | 0.05 | 0.18 | 1.02 | 0.58 | 0.61 |
| Cash from operations | — | — | — | −CN¥7.0m | −CN¥137.0m | −CN¥245.0m | CN¥1.10bn | CN¥354.0m |
| Capital spending | −CN¥29.0m | −CN¥24.0m | −CN¥28.0m | −CN¥40.0m | −CN¥69.0m | −CN¥52.0m | −CN¥257.0m | −CN¥44.0m |
| Free cash flow | — | — | — | −CN¥47.0m | −CN¥206.0m | −CN¥297.0m | CN¥843.0m | CN¥310.0m |
| Total assets | CN¥12.72bn | CN¥12.96bn | CN¥12.71bn | CN¥12.58bn | CN¥13.42bn | CN¥13.78bn | CN¥13.66bn | CN¥12.70bn |
| Cash and short-term investments | — | — | — | CN¥798.0m | CN¥1.63bn | CN¥1.90bn | CN¥2.19bn | CN¥1.37bn |
| Debt | — | — | — | CN¥329.2m | CN¥380.9m | CN¥419.4m | — | — |
| Shareholders' equity | CN¥10.47bn | CN¥10.73bn | CN¥10.40bn | CN¥10.47bn | CN¥10.44bn | CN¥11.12bn | CN¥10.51bn | CN¥10.16bn |
Financial ratios
Data as of 29 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 69.1% | 74.0% | 74.7% | 73.8% | 73.3% | 74.7% | — | — | — | — | — |
| Operating margin | 21.1% | 37.9% | 39.0% | 40.9% | 47.0% | 42.1% | — | — | — | — | — |
| Net margin | 16.9% | 27.5% | 28.9% | 30.2% | 34.3% | 31.8% | — | — | — | — | — |
| Return on equity | 6.5% | 15.7% | 17.7% | 17.4% | 20.9% | 17.6% | — | — | — | — | — |
| Return on assets | 5.3% | 12.1% | 13.7% | 13.4% | 15.7% | 13.0% | — | — | — | — | — |
| Free cash flow yield | -0.3% | 18.1% | 11.6% | 11.9% | 13.4% | 8.5% | — | — | — | — | — |
| Revenue growth | -33.7% | 0.9% | 16.1% | 2.1% | 25.4% | -14.1% | — | — | — | — | — |
| Earnings growth | -59.3% | -3.8% | 11.0% | -10.2% | 35.4% | -25.8% | — | — | — | — | — |
| Current ratio | 3.57x | 2.88x | 2.93x | 2.75x | 2.61x | 2.73x | — | — | — | — | — |
| Debt to equity | — | 0.05x | — | — | — | — | 0.03x | 0.13x | -0.19x | 0.24x | 0.23x |
| Equity ratio | 81.8% | 77.0% | 77.8% | 77.2% | 74.8% | 73.8% | — | — | — | — | — |
| Interest coverage | 1336.13x | 1250.34x | 1445.26x | 1092.63x | 2520.59x | 3986.72x | — | — | — | — | — |
| R&D as a share of sales | 0.8% | 0.5% | 0.6% | 0.5% | 0.4% | 0.4% | — | — | — | — | — |
| Buybacks as a share of market value | 0.0% | -0.0% | 0.0% | 0.0% | 0.3% | -0.1% | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.1% | -0.1% | 4.4% |
| Operating income | -26.3% | -13.0% | 0.3% |
| Net income | -24.3% | -12.0% | 1.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 72.0% | 73.2% | 73.4% | 73.2% |
| Operating margin | 31.2% | 35.8% | 38.5% | 40.3% |
| Net margin | 23.3% | 26.5% | 28.5% | 29.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 26.6 | 14.2 | 15.7 | 22.2 | 24.5 | 32.3 | 19.1 | 13.7 | 25.0 | 24.3 |
| Price to sales | 4.5 | 3.9 | 4.5 | 6.7 | 8.4 | 10.3 | 7.0 | 4.9 | 7.7 | 6.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 10 years. Last went ex-dividend on 3 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.50 | 1.30 | 1.50 | 1.50 | 1.50 | 1.20 | 1.50 | 1.50 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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